North America Commercial Vehicles Market Size & Outlook
North America commercial vehicles market, 2018-2030 (US$M)
Related Markets
North America commercial vehicles market highlights
- The North America commercial vehicles market generated a revenue of USD 827,288.7 million in 2023.
- The market is expected to grow at a CAGR of 3.9% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 827,288.7 million |
| Market revenue in 2030 | USD 1,080,397.8 million |
| Growth rate | 3.9% (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, North America region accounted for 70.7% 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Commercial Vehicles Market Scope
Commercial Vehicles Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America 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 90.68% in 2023. Horizon Databook has segmented the North America commercial vehicles market based on light commercial vehicle, heavy trucks, buses & coaches covering the revenue growth of each sub-segment from 2018 to 2030.
North America's highly unified supply chain network connects manufacturers and consumers through multiple transportation modes, including freight rail, air delivery services, maritime transport, and truck transport. Owing to which, the commercial vehicles segment held the largest market share in 2017 and is expected to continue to dominate over the forecast period.
The North America region is also characterized by an increasing number of populace with improved purchasing power, by constant investments into infrastructure, and by the growing focus of the government on accomplishing in-house automotive production.
Digitization of trucks or connected trucks are expected to offer new business opportunities for the key OEMs in the region, including Volkswagen (MAN & Scania), Daimler AG, and Volvo, among others. These OEMs are expected to make huge investments in telematics solutions and this is anticipated to further propel the growth of the commercial vehicles market.
Reasons to subscribe to North America commercial vehicles market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of North America commercial vehicles market databook
-
Our clientele includes a mix of commercial vehicles market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the North America commercial vehicles market , including forecasts for subscribers. This continent databook contains high-level insights into North America commercial vehicles market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
North America commercial vehicles market size, by country, 2018-2030 (US$M)
North America Commercial Vehicles Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
