Introduction
The global uprising from the economic crises has major consequences for the commercial vehicle manufacturing industry. The global heavy duty trucks manufacturing industry has witnesses a gradual growth over the past five years to 2018. Government authorities across the globe have been imposing stringent regulations aimed to reducing the truck emissions. However, the rise in the technological advancement and innovative manufacturing technology is highly anticipated to propel the global heavy duty trucks market. An upsurge in the demand for heavy commercial vehicles across all major sectors such as agriculture, mining, construction and logistics is expected to further propel the sales of heavy-duty trucks over the forecast period. Rise in the international and domestic trading activities worldwide has impacted positively over the heavy duty trucks market growth.
Fact.MR’s study offers incisive insights on heavy duty trucks market. A summary of the report is available on request.
Heavy duty truck manufactures are highly focusing on diminishing the high cost associates with the heavy duty trucks by shifting towards the remanufacturing techniques and use of cost effective material, thereby minimizing the production cost. The rapid development of automotive industry in emerging economies owing the availability of essential resources along with favorable FDI policies is highly anticipated to boost the production of heavy duty trucks in this region. Extension of road network along with increasing international sourcing of heavy-duty trucks components are anticipated to positively influence the heavy duty truck demand. Heavy-duty truck manufacturers are highly focusing on improving their profit margin through relying on their reliable customer from the construction and logistics sector.
In terms of revenue, the global heavy-duty trucks market is expected to represent an incremental opportunity of US$ 56.1 Bn by 2018 end over 2027.
On the basis of class, the market can be categorized as class 7, class 8, and class 9. The class 7 segment is expected to dominate the heavy-duty trucks market over the forecast period, regarding value, which accounted for more than 30% value share in 2027.
On the basis of fuel, the market is segmented into diesel, natural gas, hybrid electric vehicle, and gasoline. The segment, diesel in a heavy-duty trucks market accounted for the highest market share of more than 60% in 2017. The segment hybrid electric vehicle is expected to grow remarkably over the forecast period.
The Latin America region is expected to register relatively low growth in the heavy duty trucks market, as the region is currently sustaining economic crises and has less scope of further development. APEJ market is developing at a rapid pace with an increasing application of heavy duty trucks across all major sectors.
Market Dynamics
Global heavy duty trucks industry is currently witnessing complete change in manufacturing concept. Autonomous trucks, electric trucks and driverless trucks are ready to make a hefty impact on the industry. The global heavy duty trucks market is backed by the increasing number of infrastructure projects and upsurge in demand from the logistics sector across the globe. The boom in the e-commerce sector, demand for the heavy duty trucks is likely to propel over the forecast period. Such factors are driving the adoption of Heavy-Duty Trucks in the market.
Furthermore, the globalization coupled with the growing demand for efficient supply chain to transport goods across the world is further propelling the demand for heavy-duty trucks. Additionally, growing preferences for hybrid and electric heavy duty trucks is highly expected to drive the demand for heavy duty truck over the forecast period.
The vendors offering heavy duty trucks are investing huge amounts in offering advanced heavy duty trucks. The companies are aiming to offer the highly efficient heavy-duty trucks, which are low in cost and highly effective and can provide maximum mileage. For instance, Daimler presented the first electric Freightliner truck to Penske. With the presentation of the first fully electric Freightliner eM2, Daimler Trucks started their day to day-operation testing of heavy-duty and medium-duty e-trucks in the U.S. Daimler’s subsidiary Daimler Trucks North America (DTNA). Thus, rising vendor investment in heavy duty trucks is expected to contribute significantly to the market growth during the forecast period.
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Analysis by Region:
On the basis of region, the global heavy duty trucks market is segmented into North America, Latin America, Europe, Japan, Asia-Pacific excluding Japan(APEJ) and MEA. Among these regions, the APEJ heavy-duty trucks market is projected to exhibit relatively higher growth in the global heavy duty trucks market with a CAGR of over 5.5% during the forecast period. Revenue from the heavy-duty trucks market in APEJ and Europe is expected to collectively account for more than 45% of the global heavy duty trucks market revenue in 2018.
Key competitors in heavy-duty trucks market are as Daimler, Dongfeng, Eicher Motors Limited, Fiat Chrysler Automobiles, Ford Motor Company, Freightliner, General Motors, Kenworth, Navistar, Nissan, Oshkosh Corporation, Paccar, Peterbilt, Scania, Tata Motors, Toyota, Volkswagen and Volvo.
Vendors in the heavy duty trucks market are focusing on launching new products with advanced features to gain a competitive edge in the market. In December 2017, Scania built its new XT range to be as bump and dent-proof as possible without wrapping it in plastic, and up-specced the components for constant heavy-duty use.
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Fact.MR offers a 10-year forecast for the heavy duty trucks between 2018 and 2027. In terms of value, the heavy-duty trucks market is expected to register a CAGR of 4.1% during the forecast period (2018–2027). The study offers key trends that are currently influencing the growth of the heavy duty trucks market. This newly published and insightful report shed light on key dynamics, which are expected to transform future of the heavy-duty trucks market, in turn, creating flourishing avenues for prominent companies as well as emerging players associated with the manufacturing of heavy duty trucks.
The heavy-duty trucks market study is a sinuous market intelligence on key revenue growth drivers, challenges, industry trends, and opportunities, which will eventually influence the growth trajectory of the heavy-duty trucks market. The report initially imparts an overview of the heavy-duty trucks market, considering current and prospects in the transport and automobile growth, to reveal attractive facets relating to the adoption of heavy-duty trucks across key regional markets.
An in-depth assessment on prominent heavy-duty trucks manufacturers offered in the report permits the report readers to gain detailed insights that are derived from the heavy-duty trucks manufacturers across the regional markets incorporated in the report. A list of key companies operating in the heavy-duty trucks market provided in the report adds to the credibility of this exhaustive research study.
Heavy-Duty Trucks Market: Report Summary and Scope
The study offers detailed intelligence on different factors influencing demand, sales and revenue generation in the heavy-duty trucks market across the globe. The opportunity analysis included in the report is beneficial for the readers to understand better opportunities in the sector, which will, in turn, trigger the adoption of the heavy-duty trucks.
A detailed forecast on the heavy-duty trucks market has also been offered by the analysts, who have categorized the market forecasts in terms of a likely scenario, conservative scenario, and an optimistic scenario regarding production and sales of the heavy-duty trucks during the period of forecast. Segmentation based on the most attractive sites of the heavy-duty trucks market has been provided in the form of a taxonomy table in the report.
Key Segments Covered in Heavy-Duty Trucks Report:
On the basis of class, the heavy-duty trucks market can be segmented into:
- Class 7
- Class 8
- Class 9
On the basis of fuel, the heavy-duty trucks market can be segmented into:
- Diesel
- Natural Gas
- Hybrid Electric Vehicle
- Gasoline
On the basis of application, the heavy-duty trucks market can be segmented into:
- Logistics
- Construction
- Agriculture
- Defence
- Mining
- Others
On the basis of region, the heavy-duty trucks market can be segmented into:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
Heavy-Duty Trucks Market: Analysis on Market Size Evaluation
Current and future prospects of the heavy-duty trucks market, containing current, as well as future projected values and volume forecast and analysis on region-wise demand trends, have been incorporated in the report. Assessment offered on the factors mentioned above are comprehensive and dedicated weighted chapters have been delivered on the same.
Market value at a global and regional scale and volume at a global scale for the heavy-duty trucks is offered in terms of “(US$ Mn)” and “(000’ Units)”. A Y-o-Y growth comparison on key heavy-duty trucks market segments, along with the market attractiveness assessment quantifies insights delivered in the report. Aforementioned metrics are also tracked based on heavy-duty trucks class, fuel, and application where heavy-duty trucks witnesses high demand.
Heavy-Duty Trucks Market: Scrutinized Assessment on Regional Segments
Weighted chapters have been included in the report on the heavy-duty trucks market, which imparts forecast on the regional markets. These chapters illuminate the regional macros (business, economic, and political environment outlook), which are most likely expected to have a significant impact on the growth of the heavy-duty trucks market in the near future.
Country-specific assessment on demand for the heavy-duty trucks has been provided for each regional market, along with the market size valuation and forecast, and impact analysis of key regional and country-wise dynamics. The Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Heavy-Duty Trucks Market: In-depth Analysis on Competitive Landscape
The report concludes with a weighted chapter on the competitive landscape of the heavy-duty trucks market, which profiles key companies contributing to the market expansion. Up-to-date and important data as well as knowledge related to the market players, who predominantly engage in the production and distribution of the heavy-duty trucks, has been delivered with the help of a dashboard view. Market share comparison and analysis on these market players offered in the report enables the report readers to devise strategic steps forward for their businesses.
Company profiles are also incorporated in the report, which exerts company details along with a comprehensive product offering by each player identified. The intensity mapping of the market players operating in the heavy-duty trucks market provides readers with actionable intelligence, which helps in understanding the current market status, and prospects determining the competition levels in the heavy-duty trucks market.
Fact.MR has profiled some of the most prominent company’s active in the global heavy-duty trucks market such as Daimler, Dongfeng, Eicher Motors Limited, Fiat Chrysler Automobiles, Ford Motor Company, Freightliner, General Motors, Kenworth, Navistar, Nissan, Oshkosh Corporation, Paccar, Peterbilt, Scania, Tata Motors, Toyota, Volkswagen and Volvo.
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Heavy Duty Trucks Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027