Due to an increase in global digital trading, the demand for light commercial vehicle rental services is increasing rapidly

The global light commercial vehicle market size was valued at USD 542.53 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 8.1% from 2022 to 2030

Coronavirus 2019 (COVID-19) is projected to affect sales across all areas, with Europe bearing the brunt of the damage due to the virus's severity. In 2019, the Renault-Nissan-Mitsubishi (RNM) group maintained its worldwide leadership in the light-duty (LD) truck and van category, while Ford maintained its global leadership in the pickups segment. Electric LCVs (eLCVs) will acquire relevance in the future, with a wave of launches scheduled through 2023, with many of them, particularly in medium-sized vans, predicted in 2020. Renault-Nissan, Volkswagen, Daimler, Ford, and Fiat are all planning new eLCV cars for this year.

COVID-19 has brought the world economy to its knees, with commercial operations suffering across the board. This has further compounded an already bleak picture for Light Commercial Vehicle sales in 2020, which are now anticipated to fall by 19% across all key markets. All major economies' governments have devised a rescue strategy that entails delivering large fiscal stimulus to the tune of 5%-10% of GDP on average. However, most areas are likely to achieve a reasonable recovery only by late Q3/Q4 2020, with developing economies rebounding faster than their counterparts in North America and Europe.With most places under lockdown and people staying home and preserving social distance, last-mile delivery of essentials is projected to increase. This will result in increased utilisation and reallocation of LCVs for last-mile delivery of necessities. In the medium to long future, the current scenario may pave the way for a variety of innovations and disruptions that will lead to increased use of autonomous features on vehicles, such as the usage of drones for deliveries.

Last-mile delivery is developing dynamically to satisfy consumer needs as supply chain complexity and service requirements rise. Electric and self-driving LCVs will be critical in this area. A significant fraction of the dynamic shuttles used in on-demand passenger transportation will be built on LCV platforms. Aside from the influence of eCommerce and last-mile applications, connectivity is likely to gain importance gradually. Greater integration of different telematics features in major countries such as North America and Europe, as well as increased penetration in China, India, and Latin America (LATAM), could propel connected features in LCVs to the forefront in 2020.

Comments

Post a Comment

Popular posts from this blog

VoIP Services Market 2021 Growth, Size, Share, Trends Analysis And Forecast To 2026

 The global VoIP services market is estimated to exhibit a CAGR of 9.3% over the forecast period According to a recent research published on VoIP Services Market. Reports on industry size, status, market trends, forecasts and more also provide brief information about specific growth opportunities between competitors and key market drivers. Market Overview: VoIP Services Market Report 2021 contains a comprehensive industry analysis of development components, patterns, flows, and sizes. The report also calculates current and past market values to forecast potential market management for the forecast period up to 2021 to 2027. This research study of the VoIP Services market described the widespread use of both primary and secondary data sources. This includes investigating various parameters that affect the industry, such as government policy, market environment, competitive environment, historical data, current market trends, innovations, future technologies, and technological advan...
Read more

Maximizing Solar Power Generation with Micro Inverters

Image
As the demand for renewable energy increases, solar power has emerged as a promising alternative to traditional sources of electricity. One of the key components of a solar power system is the inverter, which is responsible for converting the DC power generated by solar panels into AC power that can be used by households and businesses. Traditionally, solar power systems have relied on a single, centralized inverter to convert the power from all the solar panels in the system. However, recent advances in technology have led to the development of microinverters, which are installed on each individual solar panel. The purpose of this study is to compare the efficiency and performance of  solar micro inverter  with traditional centralized inverters. In the field testing phase, two identical solar power systems will be installed side by side - one with microinverters and one with a centralized inverter. The systems will be monitored over a period of several months to collect ...
Read more