The automotive original equipment manufacturers (OEMs) involved in the production and distribution of Light Commercial Vehicles intend to finish the current inventory and begin new production in order to comply with the new emission regulations, on a global scale. The manufacturing of light commercial vehicles is also becoming more popular among automotive OEMs, which formerly preferred to build passenger cars, as a result of global urbanisation and an increase in consumer spending on commodities.
The domestic market for the transportation of products by road grew by 2.2% year over year in 2017, according to Statistics Netherlands, a government agency in the Netherlands, which increased demand for Light Commercial Vehicles. Additionally, due to the enormous increase in the sales of e-commerce items, there has been a bigger growth in the transportation of goods by road rather than rail or ship in Europe and the Asia-Pacific region, which will further increase the need for light commercial vehicles.
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