US Market Size by Industry: Commercial Fleets

Overview:

• In 2018, the North American region dominated the commercial vehicles market and accounted for a 52.39% market size, followed by the Asia-Pacific and European region.
• The North American region had a significant 30% increase in sales of heavy-duty commercial vehicles (classes 7-8) in 2017-2018.
• The US government has been consistently working and supporting various measures aimed at the growth of electric vehicles in the North American region. Such developments are expected to drive the growth of the commercial vehicles market in this region.

Food & Beverage:

• When determining market size by revenue in the Food & Beverage segment, revenue for the US market is US$7,578m in 2020.
• The annual growth rate (CAGR 2020-2024) is 3.1%, resulting in a US market volume of US$8,546m by 2024.

• According to a recent Beverage Industry fleet study, beverage commercial fleets in the US are getting creative with the types of applications for which they deploy lighter, non-CDL-required vehicles — whose sizes range from the smallest cargo vans, pick-up trucks, and SUVs to 6- and 8-bay bobtails.
•  56 percent of operators use vans (class 2), with an average of four such vehicles per operation. Vans were the top vehicles beverage fleet managers planned to purchase, with 60 percent of respondents saying they expect to buy them within the next 24 months.
•  53 percent use pick-ups (class 2) in their commercial fleets, with an average of two in each operation.