Commercial Vehicles - Germany

Germany

In Germany, the projected unit sales in the Commercial Vehicles market for 2024 are expected to reach 387.40k vehicles.
This projection indicates the potential growth of the market in the country.
Furthermore, it is anticipated that the unit sales will experience a compound annual growth rate of 2.52% from 2024 to 2030, resulting in a projected market volume of 449.90k vehicles by 2030.
This growth rate demonstrates the positive trajectory of the Commercial Vehicles market in Germany over the specified period.
Moreover, the production of Commercial Vehicles market is projected to reach 594.30k vehicles units by 2030.
This figure highlights the potential for further expansion and development within the Commercial Vehicles market in Germany.
When considering the international perspective, it is worth noting that the in the United States is expected to dominate the market, with unit sales reaching 13,750.00k vehicles in 2024.
This indicates the significant market share held by the in the United States in the Commercial Vehicles market industry.
Germany's commercial vehicle market is experiencing a surge in demand for electric and hybrid vehicles, driven by the country's commitment to sustainable transportation.

Definition

A commercial vehicle is a motor vehicle that is used for business or commercial purposes rather than personal use. These vehicles are designed and used for transporting goods and passengers or providing services in exchange for compensation. The specific definition of a commercial vehicle can vary from one jurisdiction to another, and it may encompass a wide range of vehicles, depending on their size, purpose, and usage.

Structure

The Commercial Vehicles market is structured into three markets:

Light Commercial Vehicles (LCVs): This market focuses on vehicles designed for the transportation of goods or provision of services on a relatively small scale. LCVs typically include vans, mini trucks, and small cargo vehicles used by businesses and individuals for local deliveries, trade, and various commercial applications. Light commercial vehicles are defined as vehicles meant for carrying goods or passengers with a gross vehicle weight rating (GVWR) of up to 3.5 tons with some variation based on specific vehicle models, designs, and regional regulations.
Buses: Buses are motor vehicles designed for the transportation of passengers, varying in size and capacity and ranging from small minibuses to large coaches. This market considers medium and heavy buses and coaches (MHBCs). The gross vehicle weight rating (GVWR) of MHBCs typically exceeds 3.5 tons.
Trucks: The Trucks market is dedicated to heavy-duty vehicles used for the transportation of goods over long distances. Trucks are motor vehicles designed to transport cargo, ranging from small delivery trucks to heavy-duty freight carriers. Only heavy commercial vehicles (HCVs) are considered in this market. HCVs are typically defined as vehicles with a GVWR of 16 tons or more.

Additional Information

The market includes the production and sales of commercial vehicles within a specific region, regardless of the brand or model. Private vehicles, recreational vehicles, construction, and agricultural vehicles, as well as specialty vehicles such as ambulances and fire engines, are not included in the Commercial Vehicles market.

Notable key players in the Commercial Vehicles market include industry giants such as Daimler AG, Volvo Group, and PACCAR Inc., as well as various regional manufacturers and specialized vehicle manufacturers. These companies play a pivotal role in shaping the market landscape and driving innovation within the industry.

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Analyst Opinion

The Commercial Vehicles market in Germany has been experiencing steady growth in recent years, driven by several key factors. Customer preferences in the Commercial Vehicles market in Germany have been shifting towards more environmentally friendly options.

With increasing awareness of climate change and the need to reduce carbon emissions, customers are increasingly opting for electric or hybrid vehicles. This trend is also driven by government incentives and regulations that promote the use of electric vehicles. Additionally, there is a growing demand for vehicles with advanced safety features and connectivity options, as customers prioritize safety and convenience.

One of the major trends in the Commercial Vehicles market in Germany is the rise of e-commerce and last-mile delivery services. With the increasing popularity of online shopping, there is a growing need for efficient and reliable delivery vehicles. This has led to a significant increase in demand for vans and small trucks that are suitable for urban deliveries.

Additionally, the trend towards same-day or next-day delivery has put pressure on logistics companies to invest in a larger fleet of vehicles to meet the growing demand. Another trend in the Commercial Vehicles market in Germany is the increasing adoption of autonomous driving technology. As technology continues to advance, autonomous vehicles are becoming more reliable and efficient.

This trend is driven by the potential for increased safety and reduced operating costs. Autonomous vehicles can also help address the shortage of drivers in the transportation industry. However, there are still regulatory and infrastructure challenges that need to be addressed before widespread adoption of autonomous vehicles can occur.

Local special circumstances in the Commercial Vehicles market in Germany include the country's strong manufacturing sector and its position as a major exporter. Germany is home to several leading commercial vehicle manufacturers, such as Daimler, Volkswagen, and MAN. This has led to a highly competitive market, with manufacturers constantly innovating and introducing new models to meet customer demands.

Additionally, Germany's strong economy and stable political environment have created a favorable business environment for the Commercial Vehicles market. Underlying macroeconomic factors that have contributed to the growth of the Commercial Vehicles market in Germany include low interest rates and favorable financing options. Low interest rates make it more affordable for customers to purchase vehicles, while favorable financing options make it easier for businesses to invest in their fleets.

Additionally, Germany's strong economic growth and high consumer confidence have also contributed to increased demand for commercial vehicles. In conclusion, the Commercial Vehicles market in Germany is experiencing steady growth, driven by customer preferences for environmentally friendly options, the rise of e-commerce and last-mile delivery services, and the increasing adoption of autonomous driving technology. Local special circumstances, such as Germany's strong manufacturing sector and its position as a major exporter, have also contributed to the growth of the market.

Underlying macroeconomic factors, such as low interest rates and favorable financing options, have further supported the growth of the market.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of commercial vehicles.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.