Heavy-Duty Trucks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2025

Report Code: ZMR-4243 | Report Format : | Status : Upcoming |

Abstract

Global Heavy-Duty Trucks Market: Overview

Heavy-duty trucks are used for goods transport and are used in transportation activities across myriad sectors such as farming, mining, logistics, and construction. Today, truck service providers are highlighting on increasing their truck fleet coupled with a rise in truck efficiency. Furthermore, with enhancements in the e-commerce activities gaining significance across the global business, the industry is anticipated to gain traction.

Global Heavy-Duty Trucks Market: Growth Factors

Growing demand for freight transport as a result of an increase in economic development along with globalization are some of the factors likely to leverage the heavy-duty trucks market revenue. The rise in the regional, as well as global trade activities, are anticipated to offer lucrative opportunities for the industry. Additionally, swift industrialization leading to large-scale manufacture & distribution of goods & services is anticipated to produce the demand for a rise in the transport fleet size. Apart from this, favorable trade policies promulgated by the government along with developments in supply chain management & logistics will propel heavy-duty trucks industry earnings.

Moreover, large-scale preference of end-users towards the use of automobiles embedded with advanced driver assistance system and safety features will amplify the heavy-duty trucks market growth. Nevertheless, strict laws governing fuel emissions can put brakes on heavy-duty trucks industry during the estimated timeline. Furthermore, high ownership & maintenance costs pertaining to heavy-duty vehicles may halt the progress of heavy-duty trucks market. With manufacturers offering vehicles on lease, there has been a prominent rise in the product demand and this, in turn, will boost the business growth trends.

Global Heavy-Duty Trucks Market: Segmentation

The heavy-duty trucks market can be classified into class, application, and fuel. Based on the class, the heavy-duty trucks industry is sectored into class 7, class 5, class 8, and class 6. Application wise, the market is classified into construction, agriculture, mining, and logistics. On the basis of fuel, the heavy-duty trucks market is divided into natural gas, gasoline, diesel, and hybrid electric vehicle.

Global Heavy-Duty Trucks Market: Regional Analysis

Based on the region, the heavy-duty trucks market can be divided into five main regions: Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. Heavy-duty trucks market in the Asia Pacific is slated to witness a lucrative surge over the estimated time span, subject to a rise in the product sales along with the massive presence of vehicle manufacturers in the region. Apart from this, the easy availability of raw material as well as the workforce at lower costs will propagate the business space as it will enhance the construction & farming activities.

European heavy-duty trucks market is projected to experience a noteworthy expansion, owing to a rise in the acceptance of new technologies to enhance the operational proficiency and performance of vehicles. In addition to this, favorable government legislation promoting the expansion of fuel-conserving systems coupled with massive green mobility services trends including demand for hybrid & electric power train will promote the business.

North America and Latin American markets have huge growth potential and are predicted to make massive contributions towards the overall heavy-duty trucks market share.

Global Heavy-Duty TrucksMarket: Competitive Players

Few of the main participants in heavy-duty trucks market are Ford Motor Company, Dongfeng Motor Group Company Ltd., Volkswagen, Tata Motors, Oshkosh Corporation, Daimler Group, Navistar, Paccar, Volvo, and Eicher Motors Limited.

Global Heavy-Duty Trucks Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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