Light Commercial Vehicle Market Poised to Garner High Revenues owing to Increasing E-Commerce Deliveries

Light Commercial Vehicle Market The light commercial vehicle market consists of light trucks or vans weighing up to 3.5 tons. They are preferred for last-mile deliveries and transportation of goods. Light commercial vehicles provide greater operational efficiency due to their compact size and maneuverability compared to heavy trucks. They find applications in delivery of goods for retail stores, restaurants and e-commerce deliveries. The global light commercial vehicle market is estimated to be valued at US$ 730.35 Bn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031. Rising e-commerce activities have increased the demand for last-mile deliveries, driving sales of Light Commercial Vehicle Market Growth . Various advantages such as lower running and maintenance cost compared to heavy trucks also contribute to their growing popularity. Key Takeaways Key players operating in the light commercial vehicle market are Tesla, Sono Motors, Lig...