Commercial Vehicles Market Outlook: Driving the Future of Mobility
Commercial Vehicles Market Growth & Trends The global commercial vehicles market size is expected to reach USD 1.85 trillion by 2030, according to a new report by Grand View Research, Inc. Furthermore, the industry is expected to expand at a CAGR of 3.7% from 2023 to 2030. Continued infrastructure development, the growth of the construction and mining industries, and the subsequent need for the development of road infrastructure are expected to drive the growth. The unabated growth of the e-commerce industry, which has drastically transformed the logistics sector, is also expected to drive the demand for commercial vehicles. Advances in technology and the continued integration of telematics and communication capabilities into commercial vehicles also bode well for the growth of the market over the forecast period. Customers willing to invest in commercial vehicles are scouting for additional services, such as financing, rentals, and leasing. The g...