As per this study the Global Heavy duty truck Market was valued USD XX.X MN (by revenue) in 2019 and is anticipated to reach USD XX.X MN by 2026 with a CAGR of X.X%. By volume, the market was estimated XX.X Unit in 2019 and is expected to reach XX.X Unit by 2026 with a CAGR of X.X%.
Heavy-duty trucks are the motor vehicle specially designed to transport heavy load or goods. The gross vehicle weight rating (GVWR) of heavy duty trucks is 26001 to over 33000 lb (11794 to over (14969 kg). These are mainly used at the job site to carry large volume raw material, construction material, chemicals, and industrial equipment or to pull heavy loads. Heavy-duty trucks include garbage trucks, refrigerator trucks, cement mixing trucks, and log carriers, and heavy dump trucks.
Growing domestic, as well as international trade activities, is majorly driving the market growth. Booming logistics and construction sector is directly up surging the demand for the heavy-duty trucks. Also, growing adoption of heavy-duty commercial vehicles across mining and agriculture industry is further boosting the market growth. Technological advancement leading to the development of electric and hybrid trucks is expected to foster market growth. In spite of this, hike in labor cost coupled with volatile raw material prices is presumed to hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of heavy-duty truck.
The broad heavy-duty truck market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Dump Trucks
- Tractor Trailers
- Tank Trucks
- Haul Trucks
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for heavy-duty truck in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Heavy Duty Truck Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the heavy-duty truck market include Ashok Leyland, Daimler Trucks, FAW Group Corporation, ISUZU MOTORS, Iveco, Mack Trucks, MAN, PACCAR, Scania, Tata Motors and Volvo Trucks among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.