COVID-19 Growth Impact Assessment For the Commercial Vehicle Industry

COVID-19 Growth Impact Assessment For the Commercial Vehicle Industry

Stakeholders to Focus on Digitalization, Resource Optimization, and New Growth Segments to Overcome Slowdown

RELEASE DATE
18-Aug-2020
REGION
Global
Research Code: MF91-01-00-00-00
SKU: AU02012-GL-MT_24500

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Description

COVID-19 has had a global impact, with governments resorting to national lockdowns and social distancing measures to mitigate the spread of the virus. The result is a large-scale drop in business confidence, consumer demand, and industrial production—leading to a global economic recession in 2020.

The coronavirus outbreak has also heavily impacted the commercial vehicle (CV) industry. Original equipment manufacturers (OEMs) and parts suppliers have yet to return to full production capacity, except a few Asian countries that have come out of the pandemic. Most of the world has experienced shattered supply chains, financially drained small and medium-sized enterprises, and reduced vehicle sales in Q1 2020.

Production shutdowns due to national lockdowns in March and April will result in a spillover effect in Q2. The development increases multifold the challenges facing the CV industry, including stricter tailpipe emissions and greenhouse gas regulations across regions.

The study sheds light on the pandemic’s impact on the global medium and heavy duty CV production across key regions such as North America, Europe, Latin America, Asia-Pacific, China, and India. The study also covers the new opportunities that COVID-19 has created in other mobility verticals such as connectivity solutions, autonomous vehicles, electric vehicles, and vehicle leasing. For example, telematics service providers offering driver health monitoring solutions and contactless delivery will capture market share. Successful leasing companies will provide major fleets flexible payment terms and lease contract extensions. At the same time, collaborations between market participants in the alternate powertrain industry will improve product development efforts and reduce time to market.

OEMs will explore various options to draw back fleet customers as the effects of the pandemic start to wane and the industry recovers. Strategies include quick service response teams to ensure vehicle uptime and onsite support operations. OEMs will also increase revenue from aftermarket opportunities, such as offering predictive maintenance and expanding mobile service operations. Increasing investment in digital platforms and connected solutions will further enhance the customer experience. In the short term, there will also be a strong focus on safe production practices to ensure workforce safety.

The study also highlights the unit shipment and growth rates across different verticals with opportunity areas in each segment.

Author: Marshall Martin

Table of Contents

Revised State of the Commercial Vehicle Market Due to the Pandemic

Key Forecast Criteria

Global MD&HD Truck Production 2004 to 2025

Global Tractor Truck Standards for CO2 Reduction

Global MD&HD Trucks Market Forecast—Overview

Global MD&HD Trucks Market Forecast—By Weight Segment

Impact of COVID-19 on the Top MD&HD Vehicle Markets (COVID Scenario)

2020 Powertrain Technology Forecast

Alternative Fuel Powertrain Market—Regional Market Share Analysis

COVID-19 Impact on World GDP Growth

COVID-19 Impact on Key Regions and Countries

2020 World GDP Growth Snapshot

Crude Oil Forecast—Quarter-by-Quarter (Prices to Slide $34.8 or Less)

Natural Gas Price Forecast

Governmental Responses to COVID-19 Worldwide

Global CV Market—Future Outlook

2020 Global MD&HD Truck Production—Monthly Forecast

2020 Global MD&HD Truck Production—Quarterly Forecast

2020 Global MD&HD Truck Production Forecast by Country

2020 Production Forecast for North America

2020 Production Forecast for Europe

2020 Production Forecast for Latin America

2020 Production Forecast for Asia-Pacific

2020 Production Forecast for China

2020 Production Forecast for India

2019 MD&HD Trucks OEM Sales Performance

Top 10 OEM Groups-Sales Impact Analysis

Global Vehicle Manufacturers’ COVID-19 Impact Assessment

Analyzing Impact and Identifying Growth Opportunities by Mobility Verticals

Impact and Growth Opportunities in the Truck Digital Services Market

Impact and Growth Opportunities in the Connected Truck Telematics Market

Impact and Growth Opportunities in the Autonomous Trucks Market

Impact and Growth Opportunities in the Fleet Leasing Market

Impact and Growth Opportunities in the Electric Truck Market

Impact and Growth Opportunities in the CV Aftermarket

Key Risk Mitigation Strategies for OEMs and Dealers-A Timeline

Risk Mitigation Strategies for OEMS and Dealers

About the Growth Pipeline Engine™

Take the COVID-19 Growth Pipeline Diagnostic

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

COVID-19 has had a global impact, with governments resorting to national lockdowns and social distancing measures to mitigate the spread of the virus. The result is a large-scale drop in business confidence, consumer demand, and industrial production—leading to a global economic recession in 2020. The coronavirus outbreak has also heavily impacted the commercial vehicle (CV) industry. Original equipment manufacturers (OEMs) and parts suppliers have yet to return to full production capacity, except a few Asian countries that have come out of the pandemic. Most of the world has experienced shattered supply chains, financially drained small and medium-sized enterprises, and reduced vehicle sales in Q1 2020. Production shutdowns due to national lockdowns in March and April will result in a spillover effect in Q2. The development increases multifold the challenges facing the CV industry, including stricter tailpipe emissions and greenhouse gas regulations across regions. The study sheds light on the pandemic’s impact on the global medium and heavy duty CV production across key regions such as North America, Europe, Latin America, Asia-Pacific, China, and India. The study also covers the new opportunities that COVID-19 has created in other mobility verticals such as connectivity solutions, autonomous vehicles, electric vehicles, and vehicle leasing. For example, telematics service providers offering driver health monitoring solutions and contactless delivery will capture market share. Successful leasing companies will provide major fleets flexible payment terms and lease contract extensions. At the same time, collaborations between market participants in the alternate powertrain industry will improve product development efforts and reduce time to market. OEMs will explore various options to draw back fleet customers as the effects of the pandemic start to wane and the industry recovers. Strategies include quick service response teams to ensure vehicle uptime and onsite support operations. OEMs will also increase revenue from aftermarket opportunities, such as offering predictive maintenance and expanding mobile service operations. Increasing investment in digital platforms and connected solutions will further enhance the customer experience. In the short term, there will also be a strong focus on safe production practices to ensure workforce safety. The study also highlights the unit shipment and growth rates across different verticals with opportunity areas in each segment. Author: Marshall Martin
More Information
No Index No
Podcast No
Author Marshall Martin
Industries Automotive
WIP Number MF91-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9B01-A6,9963-A6,9AF6-A6