June 10, 2022 – The “Global Light, Medium, and Heavy Commercial Vehicle Outlook, 2022” report from Research and Markets indicates that despite COVID-19 virus surges in some places, the overall sentiment for the year remained positive. The analyst expects the global market to grow even further in 2022.
All regions except for China (which contributes annual sales volumes averaging about 40%) witnessed growth in commercial vehicle sales in 2021, indicating a return to normalcy after a dismal 2020. Most truck manufacturers will have at least one electric model on the road this year. Much of the demand will come from North America, with numerous launches and order fulfillments expected. Latin America will show the most promise among emerging markets.
Despite the analyst’s optimism for the market, the Russo-Ukrainian war, the ongoing semiconductor shortage, rising inflation, and still-climbing oil prices are among the factors that could affect sales.
