Australia and New Zealand Light Commercial Vehicle Market to Cross $14 Bn and $4 Bn Respectively by 2021: TechSci Research Report
NEW YORK, February 9, 2017 /PRNewswire/ --
Increasing youth population coupled with the growing requirement for personal transportation is likely to instigate the sales of light commercial vehicles in Australia and New Zealand market through 2021
According to TechSci Research report, "Australia and New Zealand Light Commercial Vehicle Market By Vehicle Type, Competition Forecast & Opportunities, 2011 - 2021", the market for light commercial vehicles in Australia and New Zealand is projected to cross $14 billion and $4 billion, respectively, by 2021, on the back of booming demand for pickups, followed by increasing use of vans and growing transportation through light buses. In addition, transportation and logistics sectors are the major demand generators of light commercial vehicles across both the oceanic countries. In 2015, the freight and logistics industry held a share of more than 9% in the overall GDP of Australia. A major demand for vans was observed to emanate from the indicated industry of the country during the same year. A wide demand for pickups was witnessed to emerge from the youth population of New Zealand, mainly, falling in the age group of 15 to 54 years. Over 53% of New Zealand population was witnessed to be between the age of 15 years to 54 years in 2015.
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Browse 9 market data Tables and 30 Figures spread through 109 Pages and an in-depth TOC on
"Australia and New Zealand Light Commercial Vehicle Market "
Escalating average selling price of LCVs coupled with the increase in sales of such vehicles the market for light commercial vehicles from Australia and New Zealand light is likely to expand during the forecast period. Light commercial vehicle market was witnessed to be largely concentrated in three regions of Australia, i.e. New South Wales, Queensland and Victoria in 2015. Pickups dominated Australia and New Zealand overall LCV market, followed by vans and light buses in 2015. Dominating presence of various multinational companies such as Toyota, GM Holden, Ford, Nissan, Mitsubishi, Hyundai, etc., intensified the Australia and New Zealand light commercial vehicle market during the same year. Besides that, constant incorporation of various additional features in the prominent models of LCV is expected to result in a moderate price hike of such vehicles in both the countries.
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"“Increasing government initiatives, growing small and medium enterprises and steady demand arising from logistics industry are anticipated to push light commercial vehicles sales in Australia and New Zealand. Moreover, increasing demand for personal transportation and growing preference among the youth population of both the oceanic countries is expected to lead pickups segment during the forecast period. All the stated factors are projected to drive Australia and New Zealand light commercial vehicle market through 2022.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Australia and New Zealand Light Commercial Vehicle Market By Vehicle Type, Competition Forecast & Opportunities, 2011 - 2021" has evaluated the future growth potential of Australia and New Zealand light commercial vehicle market and provides statistics and information on market structure, size, share and future growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities present in Australia and New Zealand light commercial vehicle market.
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