April 07, 2020
According to the research report titled ‘Heavy-Duty Trucks Market Size By Class, By Fuel, By Application Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global heavy-duty trucks market is set to acquire notable revenues by the year 2025.
Strict government regulations to reduce the carbon footprint along with growing demand for fuel-efficient vehicles are major factors driving the heavy-duty trucks market growth. These trucks are used for various applications such as mining, construction and agriculture since they offer high torque to weight ratio. Shifting preference for trucks with high ground clearance, reliable heavyweight parts, and superior capacity are further aiding the market expansion.
Additionally, the market is expected to witness robust growth due to growing inclination towards expansion of fleet and rising capita per income. Development of downsized engines integrated with turbochargers and increasing utilization of hybrid powertrain systems are fostering the expansion of heavy-duty trucks market. Favorable government regulations, advancements in supply chain & logistics, and improvements in automated driving technologies are also stimulating the industry outlook.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/668584/
As per class, the report states that class 8 heavy-duty trucks segment is expected to dominate the overall market by the year 2025. The growth is attributed to rising demand for trucks with diversified applications and high capacities. Increasing infrastructural development and depleting transportation cost are also fueling the segmental growth.
In terms fuel, natural gas segment of heavy-duty trucks industry is presumed to expand significantly during the estimated timeframe. Factors such as reduced exhaust emissions and low cost of natural gas in tandem with strict government regulations regarding emission mitigation are facilitating the business scenario.
Based on the application spectrum, heavy-duty trucks market share from logistics application is expected to register substantial growth in the forthcoming years. Technological advancements in logistics, booming e-commerce industry and availability of various types of trucks with diverse load carrying capacities are boosting the growth of the segment.
Considering the geographical landscape, the report states that North America heavy-duty trucks industry is poised to witness lucrative growth in the subsequent years. High concentration of key industry players, growing demand for freight, and high cost of shipping are augmenting the regional demand. Escalating disposable income, increasing production of vehicles, and rising construction activities are contributing towards North America market growth.
The prominent companies operating in heavy-duty trucks market are Volkswagen, Tata Motors, Scania AB, Peterbilt, Paccar, Oshkosh Corp., Navistar, MAN SE, Kenworth, Isuzu Motors, Freightliners, Ford Motor Co., Eicher Motors Ltd., Dongfeng, Daimler AG, China National Heavy Duty Group and Ashok Leyland.
Frequently Asked Questions (FAQ) :