Heavy-Duty Trucks Market - By Application Type (Freight & Logistics, Construction & Mining, And Other Applications), By Tonnage Type (10–15 Metric Ton And Over 15 Metric Ton), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Global Heavy-Duty Trucks market, which accrued proceeds worth 205.82 (USD Billion) in 2019, is set to record the CAGR of nearly 3.9% over the period from 2020 to 2026.

27-Jul-2020 | Number of pages: 110 | Report Code: ZMR-4243 | Report Format : | Status : Published

Abstract

The global Heavy-Duty Trucks market, which accrued proceeds worth 205.82 (USD Billion) in 2019, is set to record the CAGR of nearly 3.9% over the period from 2020 to 2026. The report offers assessment and analysis of the Heavy-Duty Trucks market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Introduction

Heavy-duty trucks are utilized for transporting of goods and find lucrative usage in agriculture, construction, mining, and logistics sectors. Additionally, the service providers are focusing on raising the truck fleet to enhance truck proficiency. In addition to this, thriving ecommerce activities across the globe will steer the expansion of heavy duty trucks business over the forthcoming years.

Market Growth Dynamics

 The escalating demand for robust vehicles having high transporting ability as well as capability for handling huge weights & suspension tools will boost the market progression over the coming decade. Apart from this, rise in the freight transport activities with rise in the globalization will prompt the business growth over the forecast timespan. Additionally, surge in the domestic as well as global trading activities are likely to offer new growth avenues for heavy-duty trucks market over the forthcoming years.

Furthermore, swift industrialization has resulted in large-scale production & distribution of products, thereby creating huge demand for transport fleet size. This is likely to translate into huge need for heavy-duty truck vehicles in the near future. Apparently, improvements in logistics & supply chain management activities will steer the business growth over the next couple of years. Inclusion of advanced driver assistance systems & secured features in the vehicles will bring a paradigm shift in the transport systems and will pave a way for the growth of heavy-duty trucks industry over the forecasting years.

Asia Pacific To Majorly Influence Overall Market Growth During 2020-2026

The expansion of the heavy duty trucks industry in the Asia Pacific zone over the estimated timespan is due to increase in the product sales along with huge presence of reputed players in the region. Apart from this, easy availability of workforce at reduced wages and access to abundant raw materials at lower costs will steer the construction & automotive sectors resulting in huge product penetration on Asia Pacific. Countries like Thailand, China, India, Malaysia, and Indonesia are predicted to contribute sizably towards the regional market revenue over the estimated timespan.

Key players included in the report are Tata Motors, China National Heavy Duty Group, Volvo, Paccar, Ashok Leyland, Dongfeng, Scania AB, Daimler AG, Isuzu Motors, Ford Motor Company, Eicher Motors Limited, Freightliner, MAN SE, Kenworth, Oshkosh Corporation, Navistar, Peterbilt, and Volkswagen.

The global heavy-duty trucks market is segmented as follows:

By Application Type

  • Freight & Logistics
  • Construction & Mining
  • Other Applications

By Tonnage Type

  • 10–15 metric ton
  • Over 15 metric ton

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

The escalating demand for robust vehicles having high transporting ability as well as capability for handling huge weights & suspension tools will boost the market progression over the coming decade.

The CAGR of the industry is expected to be nearly 3.9% during the forecast timeline.

Asia Pacific region will contribute lucratively towards the global market revenue over the estimated timeline.

The key market participants include are China National Heavy Duty Group, Ashok Leyland, Dongfeng, Daimler AG, Ford Motor Company, Eicher Motors Limited, Isuzu Motors, Freightliner, MAN SE, Kenworth, Oshkosh Corporation, Navistar, Peterbilt, Paccar, Tata Motors, Scania AB, Volvo, and Volkswagen.


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