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Latin American Commercial Vehicle (CV) Growth Opportunities, Forecast to 2030

Latam Commercial Vehicles Market – Growth Opportunities, Analysis, Forecast, Latin America, 2022

5G Mobile Computing, Fixed Wireless Access And Iot Devices To Ensure Future Growth Potential Of North American Mobile Operators,Commercial Vehicle,Latin American Cv Market ,Commercial Vehicles Market

RELEASE DATE
02-Nov-2022
REGION
Latin America
Deliverable Type
Market Research
Research Code: PC79-01-00-00-00
SKU: AU02424-LA-MT_27040
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AU02424-LA-MT_27040

Latin American Commercial Vehicle (CV) Growth Opportunities, Forecast to 2030
Published on: 02-Nov-2022 | SKU: AU02424-LA-MT_27040

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Description

Overall commercial vehicle (CV) units in Latin America (LATAM) are expected to reach 1.5 million units by 2030, growing at a compound annual growth rate (CAGR) of 3.4% between 2021 and 2030. Infrastructure investment, mining development and exports, multimodal transportation projects, and agro-based farm equipment manufacturing will drive industry growth in the coming decade. eCommerce growth will drive demand for the intercity transportation of various goods and urban distribution trucks. As the COVID-19 pandemic declined, global commodities markets recovered; demand outpaced supply and resulted in higher prices and exports in the region. These factors are expected to be the major drivers for commercial truck demand in the short and long terms.

Brazil and Mexico contribute 68% of LATAM's CV units; pickups dominate both countries and account for 69% of the region's LCV sales. Most countries in LATAM focus on renewable energy sources for the energy transition from fossil fuels; the electromobility strategy will also drive the growth of alternate powertrain vehicles. Companies are likely to leverage government support for electromobility to create common platforms for vehicles across different regions and quickly scale up operations to achieve maximum profitability.

European OEMs dominate the market and account for three-fifths of all CV sales in the region. Daimler, Traton, and Volvo, the top 3 sellers, account for two-thirds of the market share. Many Chinese OEMs, including Foton, SAIC, JAC, Changan, and Dongfeng, have established their presence in LATAM and are expected to compete aggressively against European OEMs in the coming years. Higher infrastructure spending and mining development and trade activities in the region are likely to be the major drivers for heavy-duty truck demand. The growing ecosystem of truck OEMs, bodybuilders, and fleets that will cater to this rising demand will have a positive impact on allied sectors.

Author: Saideep Sudhakar

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Commercial Vehicles Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Growth Metrics

Scope of Analysis

Segmentation

Main Forecast Criteria

Growth Drivers

Growth Restraints

Key Findings

Unit Sales by CV Segment and Region

Percent Unit Sales by CV Segment and Region

M&HD Truck OEM Sales Performance

LCV OEM Sales Performance

Percent Unit Sales by Powertrain Split: LCVs

Percent Unit Sales by Powertrain Split: M&HD Trucks

Growth Metrics

Key Regional Trends, 2021

Unit Sales Forecast by CV Segment

Forecast Analysis

Percent Unit Sales by Powertrain and CV Segment

OEM Market Share by CV Segment

Percent Unit Sales Forecast by Powertrain and CV Segment

OEM Powertrain Technology Platforms

Emission Standards and xEV Incentives and Subsidies

Growth Metrics

Key Regional Trends, 2021

Unit Sales Forecast by CV Segment

Forecast Analysis

Percent Unit Sales by Powertrain and CV Segment

OEM Market Share by CV Segment

Percent Unit Sales Forecast by Powertrain and CV Segment

OEM Powertrain Technology Platforms

Emission Standards and xEV Incentives and Subsidies

Growth Metrics

Key Regional Trends, 2021

Unit Sales Forecast by CV Segment

Forecast Analysis

Percent Unit Sales by Powertrain and CV Segment

OEM Market Share by CV Segment

Percent Unit Sales Forecast by Powertrain and CV Segment

OEM Powertrain Technology Platforms

Emission Standards and xEV Incentives and Subsidies

Growth Metrics

Key Regional Trends, 2021

Unit Sales Forecast by CV Segment

Forecast Analysis

Percent Unit Sales by Powertrain and CV Segment

OEM Market Share by CV Segment

Percent Unit Sales Forecast by Powertrain and CV Segment

Emission Standards and xEV Incentives and Subsidies

OEM Powertrain Technology Platforms

Growth Metrics

Key Regional Trends, 2021

Unit Sales Forecast by CV Segment

Forecast Analysis

Percent Unit Sales by Powertrain and CV Segment

OEM Market Share by CV Segment

Percent Unit Sales Forecast by Powertrain and CV Segment

OEM Powertrain Technology Platforms

Emission Standards and xEV Incentives and Subsidies

Growth Metrics

Key Regional Trends, 2021

Unit Sales Forecast by CV Segment

Forecast Analysis

Percent Unit Sales by Powertrain and CV Segment

OEM Market Share by CV Segment

Percent Unit Sales Forecast by Powertrain and CV Segment

OEM Powertrain Technology Platforms

Emission Standards and xEV Incentives and Subsidies

TCO Analysis, LATAM: Assumptions

TCO Analysis, LATAM: Low Mileage

TCO Analysis, LATAM: Medium Mileage

TCO Analysis, LATAM: High Mileage

Growth Opportunity 1: Growing Demand for Last-mile Delivery to Drive Light-duty Truck Growth

Growth Opportunity 1: Growing Demand for Last-mile Delivery to Drive Light-duty Truck Growth (continued)

Growth Opportunity 2—Low Entry Barriers for New Participants in the eLCV Space

Growth Opportunity 2—Low Entry Barriers for New Participants in the eLCV Space (continued)

Growth Opportunity 3—Ensuring Long-term Market Sustainability

Growth Opportunity 3—Ensuring Long-term Market Sustainability (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

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  • Growth Opportunities
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Impacting your company's future growth potential.

Overall commercial vehicle (CV) units in Latin America (LATAM) are expected to reach 1.5 million units by 2030, growing at a compound annual growth rate (CAGR) of 3.4% between 2021 and 2030. Infrastructure investment, mining development and exports, multimodal transportation projects, and agro-based farm equipment manufacturing will drive industry growth in the coming decade. eCommerce growth will drive demand for the intercity transportation of various goods and urban distribution trucks. As the COVID-19 pandemic declined, global commodities markets recovered; demand outpaced supply and resulted in higher prices and exports in the region. These factors are expected to be the major drivers for commercial truck demand in the short and long terms. Brazil and Mexico contribute 68% of LATAM's CV units; pickups dominate both countries and account for 69% of the region's LCV sales. Most countries in LATAM focus on renewable energy sources for the energy transition from fossil fuels; the electromobility strategy will also drive the growth of alternate powertrain vehicles. Companies are likely to leverage government support for electromobility to create common platforms for vehicles across different regions and quickly scale up operations to achieve maximum profitability. European OEMs dominate the market and account for three-fifths of all CV sales in the region. Daimler, Traton, and Volvo, the top 3 sellers, account for two-thirds of the market share. Many Chinese OEMs, including Foton, SAIC, JAC, Changan, and Dongfeng, have established their presence in LATAM and are expected to compete aggressively against European OEMs in the coming years. Higher infrastructure spending and mining development and trade activities in the region are likely to be the major drivers for heavy-duty truck demand. The growing ecosystem of truck OEMs, bodybuilders, and fleets that will cater to this rising demand will have a positive impact on allied sectors. Author: Saideep Sudhakar
More Information
New Title Latam Commercial Vehicles Market – Growth Opportunities, Analysis, Forecast, Latin America, 2022
New Subtitle 5G Mobile Computing, Fixed Wireless Access And Iot Devices To Ensure Future Growth Potential Of North American Mobile Operators,Commercial Vehicle,Latin American Cv Market ,Commercial Vehicles Market
Deliverable Type Market Research
Author Saideep Sudhakar
Industries Automotive
No Index No
Is Prebook No
Podcast No
WIP Number PC79-01-00-00-00