Medium And Heavy Commercial Vehicles Market Trends
- The MHCV market is doing reasonably well, but several factors influence it. First and foremost, infrastructure development in urban and rural areas catalyzes the demand for construction and logistics vehicles. Following that is the boom in e-commerce, which has highly increased the need for last-mile delivery solutions, thereby pushing the market. At the same time, government initiatives for better transport infrastructure and fleet modernization are stimulating sales.
- Challenges are being thrown at the industry on an equal note. The high surging fuel prices are coupled with strict emission norms, which leave manufacturers with no other option but to develop fuel-efficient and eco-friendly vehicles. Supply chains are getting distorted because of the global chip shortage, which is affecting the availability of cars and, hence, their pricing. Notwithstanding these odds, the long-term outlook of the MHCV market still holds some promise, encouraged by rising economic activities, urbanization, and a rapid acceleration in the adoption of new technologies.