Global Light Truck & Van Industry
The global light truck and sport-utility vehicle (SUV) manufacturing sector represents a mature industry and encompasses manufacturers of light trucks and utility vehicles, including SUVs, pickups and crossover-utility vehicles (CUVs). Companies operating in his market also produce light truck and utility vehicle chassis.
Other industries relying on the global light truck and van industry include construction, retail and manufacturing. These sectors’ use light trucks and vans for the transportation of commodities, goods and passengers. Commercial vehicles also play a vital role in the distribution, logistics and passenger transportation industries. Global Industry Analysts estimates world demand for commercial vehicles will rise to 22 million units by 2017. State investment in infrastructure projects such as construction, mining and power generation will help spur market growth. The Asia-Pacific region is expected to be a leader in driving market expansion.