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Global Light, Medium, and Heavy Commercial Vehicle Outlook, 2022
Plummeting Demand in China will Contribute to a Contraction in Medium- and Heavy-duty Truck Sales
10-May-2022
North America
Market Outlook
PCE5-01-00-00-00
AU02328-NA-MO_26523
All regions except for China (which contributes annual sales volumes averaging about 40%) witnessed growth in commercial vehicle sales in 2021, indicating a return to normalcy after a dismal 2020. Despite COVID-19 virus surges in some places, the overall sentiment for the year remained positive. Frost & Sullivan expects the global market to grow even further in 2022.
As economies continue to reopen, a resumption of infrastructure build-out and other construction activity will increase the demand for heavy-duty trucks, with double-digit growth anticipated in India, Latin America, and Association of Southeast Asian Nations countries.
Natural gas vehicles have seen a spike in demand in most regions. North America and Europe continued to generate strong demand, and in India demand went up as oil prices increased. China is the only exception, where sales declined largely due to high natural gas prices as well as a significant gain in electric truck volumes. Most truck manufacturers will have at least electric model on the road this year. Much of the demand will come from North America, with numerous launches and order fulfillments expected. Latin America will show the most promise among emerging markets.
Governments around the world are mandating advanced driver assistance systems in commercial vehicles. Manufacturers, meanwhile, are developing bundled solutions that manage all fleet requirements, from logistics and connectivity to service and maintenance, as a service.
Despite Frost & Sullivan’s optimism for the market, the Russo-Ukrainian war, the ongoing semiconductor shortage, rising inflation, and still-climbing oil prices are among the factors that could affect sales.
Key Issues Addressed
- The size of the global truck industry in 2021 and the segment split along with major OEMs in different regions?
- What is the growth expected in 2022 in terms of volumes and key drivers for growth in different regions?
- Projected penetration of key powertrain technologies across different regions?
- Top OEM performers in 2021 and their powertrain strategy in future across different regions?
- Key trends and activities in the field of connected, electric drivetrain and ADAS features in trucks?
Author: Marshall Martin
Top Commercial Vehicle Trends in 2021
Commercial Vehicle Industry Highlights
Market Forecast
Growth Rate
Technological Progress
Top Predictions for 2022
Why Is It Increasingly Difficult To Grow?
Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Truck Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Research Scope
Market Segmentation
Top 5 Global Economic Highlights of 2021
Top 5 Global Economic Predictions for 2022
Global GDP Growth
2022 Scenario Analysis—Quarterly Global Growth
2022 Scenario Analysis Assumptions
2022 Global GDP Growth Snapshot
Advanced Economy Predictions for 2022
Emerging Economy Predictions for 2022
Macroeconomic Predictions for 2022
Top 3 2022 Growth Opportunities by Region
2022 Regional Risks and Policy Direction
Market Forecast
Market Forecast by Region and Category
2021 LCV OEM Sales Performance
Powertrain Technology Forecast
Key OEMs’ Anticipated e-LCV Launches
Market Forecast
Market Forecast by Region and Category
2021 M&HD Truck OEM Sales Performance
Powertrain Technology Forecast
Key OEMs’ Anticipated e-M&HD Truck Launches
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Telematics Penetration
Telematics Opportunity Assessment
Notable Telematics Partnerships
Notable Telematics Partnerships (continued)
Drivetrain Architecture Forecast
Electric Trucks by Drivetrain Architecture Type
Electric Drivetrain Technology Roadmap
ADAS Forecast
ADAS Supplier Preference
ADAS Technology Roadmap
Growth Opportunity 1—Emerging Markets
Growth Opportunity 1—Emerging Markets (continued)
Growth Opportunity 2—The EV Ecosystem
Growth Opportunity 2—The EV Ecosystem (continued)
Growth Opportunity 3—ADAS Safety Features
Growth Opportunity 3—ADAS Safety Features (continued)
Abbreviations
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- LCV Sales, Global, 2021–2022
- M&HD Truck Sales, Global, 2021–2022
- Estimated LCV and M&HD Truck Growth Rates, Selected Locations, 2022
- GDP Growth in Advanced, Emerging, and Developing Economies, Global, 2017–2022
- GDP Growth Scenario Analysis, Global, Q1 2019–Q4 2022
- Assumptions for Growth Scenarios, Global, 2022
- GDP Growth Rate, Select Economies, 2020–2022
- LCV Sales, Global, 2021–2022
- Pickup Sales Forecast, Global, 2021 and 2022
- Van and COE Truck Sales Forecast, Global, 2021 and 2022
- Top 20 LCV OEM Sales Performance, Global, 2021
- LCV Powertrain Technology Forecast, Global, 2022
- e-LCV Product Launch Timeline
- M&HD Truck Sales, Global, 2021–2022
- MD Truck Sales Forecast, Global, 2021 and 2022
- HD Truck Sales Forecast, Global, 2021 and 2022
- Top 17 M&HD Truck OEM Sales Performance, Global, 2021
- M&HD Truck Powertrain Technology Forecast, Global, 2022
- E-M&HD Product Launch Timeline
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, North America, 2021–2022
- Truck Segment Powertrain Technology Split, North America, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, Europe, 2021–2022
- Truck Segment Powertrain Technology Split, Europe, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, China, 2021–2022
- Truck Segment Powertrain Technology Split, China, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, India, 2021–2022
- Truck Segment Powertrain Technology Split, India, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, Latin America, 2021–2022
- Truck Segment Powertrain Technology Split, Latin America, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, ASEAN, 2021–2022
- Truck Segment Powertrain Technology Split, ASEAN, 2021–2022
- LCV Telematics Penetration, Selected Locations, 2022
- M&HD Truck Telematics Penetration, Selected Locations, 2022
- Truck Telematics Opportunities, Selected Locations, 2022
- M&HD Truck Electrification Architecture Forecast, North America and Europe, 2025 and 2030
- M&HD Level 1 and 2 ADAS Truck Sales, North America and Europe, 2021 and 2030
- Truck Market: Key Supplier Preference Analysis, Global, 2021
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