Heavy-Duty Trucks Market to Hit USD 430 Bn by 2026; Global Market Insights, Inc.
Some of the major participants in heavy-duty trucks market include Daimler Trucks, Navistar, Tata Motors, Volvo, Peterbilt, International Trucks, Kenworth, Eicher Motors Ltd., Mack Trucks, and Oshkosh Corporation.
SELBYVILLE, Del., August 3, 2020 (Newswire.com) - Global Market Insights, Inc. has recently added a new report on the heavy-duty trucks market which estimates the market valuation for heavy-duty trucks will cross US$ 430 billion by 2026. The growth of the e-commerce sector across the globe will boost industry demand. Large-scale distribution of goods has led to increasing demand for heavy-duty trucks, contributing to the market growth over the forecast period.
The heavy-duty trucks industry is facing several challenges owing to the spread of COVID-19 pandemic around the world. Government restrictions on domestic and international trade have led to a gradual decline in the demand for freight transportation. However, the market size is expected to grow with relaxation in trade restrictions post the reduction of the COVID-19 pandemic.
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Class 8 heavy-duty trucks will showcase significant growth potential owing to optimum performance in long-haul traveling and continuous development of new models. Increasing usage of class 8 trucks in the mining industry and rising investments for developing advanced trucks will further support market growth. The 4x2 axle configuration in heavy-duty trucks offers four wheels supported by a single drive axle. This configuration provides two single-drive axles in heavy-duty trucks that limit the load-carrying capacity, thereby accounting for a steady growth in the market.
The above 500HP segment will observe a steadily growing market share in the heavy-duty trucking industry owing to an enhanced load carrying capacity in all terrains. Environmental factors, such as low oxygen supply at high altitudes and extreme temperatures, may hamper the engine power, encouraging fleet managers to invest in high horsepower engines above 500HP.
The Asia Pacific heavy-duty trucks market is expected to witness an escalating growth due to the proliferation of infrastructure & construction activities. Increasing government and private sector investments to develop several commercial and residential real estate projects are driving the demand for heavy-duty trucks in the region.
Industry players are focusing on launching new products in the market to enhance their product portfolio. For instance, in February 2020, Volvo Trucks announced the launch of four new heavy-duty trucks, Volvo FH, FH16, FMX, and FM with a robust focus on safety, environment and productivity.
Browse key industry insights spread across 340 pages with 783 market data tables & 21 figures & charts from the report, “Heavy-Duty Trucks Market Share & Forecast, 2020–2026” in detail along with the table of contents:
Some major findings in the heavy-duty trucks market report include:
- Growing importance of on-road safety has led to the integration of advanced technologies, such as ADAS systems, in heavy-duty trucks. Features, such as truck platooning and fleet management, supported by these technological advancements are driving the market growth.
- Natural gas heavy-duty trucks will witness a steady growth rate owing to thriving oil prices and establishment of stringent vehicular emission norms.
- Presence of several leading market players coupled with the inclination of fleet owners to add new truck models to their lineup is augmenting the heavy-duty trucks market share in North America and Europe.
- Major strategies adopted by the market players include new product launches and strategic partnerships with other industry players to enhance their market share. Companies are also focusing on expansion of their geographic presence.
Key players operating in the heavy-duty trucks market include Daimler Trucks, Navistar, Tata Motors, Volvo, Peterbilt, International Trucks, Kenworth, Eicher Motors Ltd., Mack Trucks, and Oshkosh Corporation.
Browse complete report table of contents @ https://www.gminsights.com/toc/detail/heavy-duty-trucks-market
Partial chapters of report table of contents (TOC):
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Impact of COVID-19 on heavy-duty trucks industry landscape
3.2.1. Global outlook
3.2.2. Regional impact
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
3.2.3. Industry value chain
126.96.36.199. Research & development
3.2.4. Competitive landscape
188.8.131.52. Distribution network
184.108.40.206. Business growth
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Technology providers
3.3.4. End use landscape
3.3.5. Distribution channel analysis
3.3.6. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. North America
3.5.3. Asia Pacific
3.5.4. Latin America
3.6. Industry impact forces
3.6.1. Growth drivers
220.127.116.11. Growing demand for electric & hybrid heavy-duty trucks
18.104.22.168. Increasing freight transportation activities in North America
22.214.171.124. Implementation of stringent vehicle emission regulations in Europe
126.96.36.199. Increasing investments in infrastructure development in APAC
188.8.131.52. High demand for heavy-duty trucks from mining and, oil & gas sector in MEA
184.108.40.206. Rising real estate construction in Latin America
3.6.2. Industry pitfalls & challenges
220.127.116.11. High ownership and maintenance costs
3.7. Growth potential analysis
3.8. Porter's analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. PESTEL analysis
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