Association of Southeast Asian Nations (ASEAN) Commercial Vehicles (CV) Market Growth Opportunities Report 2021: Market is expected to reach 1.7 million units by 2030, with growing at a CAGR of 7.9% – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The Association of Southeast Asian Nations (ASEAN) Commercial Vehicle (CV) Growth Opportunities report has been added to from ResearchAndMarkets.com offer.

The overall volume of commercial vehicles in ASEAN is expected to reach 1.7 million units by 2030, growing at a CAGR of 7.9% between 2020 and 2030.

The region has experienced rapid industrialization, moving away from agriculture towards the manufacture of electrical and electronic components and machinery. Post-pandemic, there has been a recovery in commodity markets globally, with demand outstripping supply, leading to higher prices and exports in the region. These factors are expected to be the main drivers of demand for commercial trucks in the short and long term.

Thailand and Indonesia contribute 75% of the region’s CV volumes, with Thailand being a major market for pickup trucks. It also contributes nearly 60% of LCV sales in the region. All the major countries in the region have encouraged the production of automobiles in the region.

The region shows great potential to become a major automotive manufacturing hub that exports vehicles to other parts of the world. Companies should take advantage of government support for manufacturing, help create common platforms for their vehicles in different regions, as well as rapidly scale up operations to achieve maximum profitability.

The market is dominated by Japanese OEMs, which account for three-quarters of all commercial vehicle sales in the region. , the top 3 sellers alone contribute two-thirds of the market.

Many Chinese OEMs, such as , have already established their presence in the region and are expected to compete aggressively with Japanese OEMs in the coming years.

Rising infrastructure spending and increased construction and trade activity in the region are expected to be the main drivers of heavy truck demand. The growing ecosystem of OEMs, bodybuilders and truck fleets that will meet this growing demand will have a positive impact on related sectors (e.g. logistics).

Main issues addressed:

  • What will be the size of the commercial truck market in ASEAN from 2020 to 2030?

  • What are the main growth drivers in the region?

  • What are the major OEMs dominating the CV market in the region?

  • What is the composition of the powertrain and how is it expected to evolve over the next decade?

  • What key trends in each major country in the region are driving the demand for commercial trucks?

Featured companies:

  • Toyota

  • Isuzu

  • Nissan-Mitsubishi

  • Photon

  • SAIC

  • Dongfeng

  • CLA

  • BYD

Main topics covered:

Strategic imperatives

  • Why is it increasingly difficult to grow taller?

  • The strategic imperative

  • The impact of the top three strategic imperatives on the CV market

  • Growth opportunities fuel the growth pipeline engine

Scope of the study

  • Scope of analysis

  • Segmentation

Analysis of growth opportunities

  • Main conclusions

  • ASEAN unit sales by CV segment and region

  • Percentage of unit sales by CV segment and region

  • Unit sales and market share of major OEMs

  • Percentage of Unit Sales by Powertrain – LCV

  • Percentage of Unit Sales by Powertrain – M&HD Truck

ASEAN Outlook

  • Main regional trends

  • Unit sales forecast by CV segment

  • OEM Market Share by CV Segment

  • Percentage of unit sales by powertrain and CV segment – 2020

  • Forecast Percentage of forecast unit sales by powertrain and CV segment

Thailand

  • Thailand – Key Regional Trends

  • Thailand – Unit Sales Forecast by CV Segment

  • Thailand – Forecast Discussion

  • Thailand – OEM Market Share by CV Segment

  • Thailand – Percentage of Unit Sales by Powertrain and CV Segment

  • Thailand – Forecast Percentage of Unit Sales by Powertrain and CV Segment

  • Thailand – Emission Standards and Incentives and Subsidies for Electric Vehicles

Indonesia

  • Indonesia – Key Regional Trends

  • Indonesia – Unit Sales Forecast by CV Segment

  • Indonesia – Forecast Discussion

  • Indonesia – OEM Market Share by CV Segment

  • Indonesia – Percentage of Unit Sales by Powertrain and CV Segment

  • Indonesia – Forecast Percentage of Unit Sales by Powertrain and CV Segment

  • Indonesia – Emission Standards and Incentives and Subsidies for Electric Vehicles

The Philippines

  • Philippines – Key Regional Trends

  • Philippines – Unit Sales Forecast by CV Segment

  • Philippines – Forecast Discussion

  • Philippines – OEM Market Share by CV Segment

  • Philippines – Percentage of Unit Sales by Powertrain and CV Segment

  • Philippines – Forecast Percentage of Unit Sales by Powertrain and CV Segment

  • Philippines – Emission Standards and Incentives and Subsidies for Electric Vehicles

Malaysia

  • Malaysia – Key Regional Trends

  • Malaysia – Unit Sales Forecast by CV Segment

  • Malaysia – Forecast Discussion

  • Malaysia – OEM Market Share by CV Segment

  • Malaysia – Percentage of Unit Sales by Powertrain and CV Segment

  • Malaysia – Forecast Percentage of Unit Sales by Powertrain and CV Segment

  • Malaysia – Emission Standards and Incentives and Subsidies for Electric Vehicles

Vietnam

  • Vietnam – Key Regional Trends

  • Vietnam – Unit sales forecast by CV segment

  • Vietnam – Forecast Discussion

  • Vietnam – OEM market share by CV segment

  • Vietnam – Percentage of Unit Sales by Powertrain and CV Segment

  • Vietnam – Forecast Percentage of Unit Sales by Powertrain and CV Segment

  • Vietnam – Emission standards and incentives and subsidies for electric vehicles

Universe of growth opportunities

  • Growth Opportunity 1 – Growing Government Support for Automotive Manufacturing and Exports

  • Growth Opportunity 2 – Pickup Trucks and Heavy Trucks to Meet Growing Demand in the Infrastructure Sector

Next steps

For more information about this report visit https://www.researchandmarkets.com/r/19wtor

About Christopher Easley

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