Europe Commercial Vehicles Market Size & Outlook
Europe commercial vehicles market, 2018-2030 (US$M)
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Europe commercial vehicles market highlights
- The Europe commercial vehicles market generated a revenue of USD 27,393.8 million in 2023.
- The market is expected to grow at a CAGR of 3.8% from 2024 to 2030.
- In terms of segment, light commercial vehicle was the largest revenue generating product in 2023.
- Light Commercial Vehicle is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 27,393.8 million |
| Market revenue in 2030 | USD 35,657.8 million |
| Growth rate | 3.8% (CAGR from 2023 to 2030) |
| Largest segment | Light commercial vehicle |
| Fastest growing segment | Light Commercial Vehicle |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Light Commercial Vehicle, Heavy Trucks, Buses & Coaches |
| Key market players worldwide | Bosch, Daimler Truck Holding AG ADR, Volkswagen AG, Toyota Motor Corp, Mahindra & Mahindra Ltd DR, Volvo AB ADR, General Motors Co |
Other key industry trends
- In terms of revenue, Europe region accounted for 2.3% of the global commercial vehicles market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 363,337.5 million by 2030.
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Commercial Vehicles Market Scope
Commercial Vehicles Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe commercial vehicles market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial vehicles market will help companies and investors design strategic landscapes.
Light commercial vehicle was the largest segment with a revenue share of 78.16% in 2023. Horizon Databook has segmented the Europe commercial vehicles market based on light commercial vehicle, heavy trucks, buses & coaches covering the revenue growth of each sub-segment from 2018 to 2030.
The European region is strongly driven by the regulations and legislation related to commercial vehicles. The implementation of EURO VI has been a major achievement for trucks and buses, with regulated emissions being reduced to near-zero levels, down 98% since 1990. n 2017, 2.6 million commercial vehicles were manufactured in the European Union.
Road freight transport is an important mode of transport in the European trade and commerce industry. Trucks carried 71.3% of all freight transported over land. Furthermore, in the EU, 55.7% of all public transports are engaged by urban and suburban buses. Online retail sale ad e-commerce have been rising in the region, leading to increased demand for light commercial vehicles and trucks for the timely delivery of goods to buyers.
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Our clientele includes a mix of commercial vehicles market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe commercial vehicles market , including forecasts for subscribers. This continent databook contains high-level insights into Europe commercial vehicles market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe commercial vehicles market size, by country, 2018-2030 (US$M)
Europe Commercial Vehicles Market Outlook Share, 2023 & 2030 (US$M)
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