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