Global Heavy Commercial Truck Market, By Truck Type (Semi-Trailer Truck, 18-Wheeler Truck, Tanker Truck, Heavy Truck, Flatbed Truck, Garbage Truck, Dump Truck, Panel Truck), Class (Class 5, Class 6, Class 7, Class 8), Fuel (Diesel, Natural Gas, Hybrid Electric Vehicle, Gasoline), Application (Agriculture, Logistics, Construction, Mining), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Heavy Commercial Truck Market
Data Bridge Market Research analyses that the heavy commercial truck market would exhibit a CAGR of 4.40% for the forecast period of 2022-2029. Growing number of commercial vehicles on the roads especially in the developing economies, increased adoption of advanced manufacturing and production technologies, growth and expansion of automotive industry especially in the developing economies and surging rate of globalization and industrialization are the major factors attributable to the growth of heavy commercial truck market.
From the name itself, it is clear that the heavy commercial trucks are the heavy duty vehicles, which are used by a wide array of manufacturers and industries to transport their goods or produce from one point to the other end point. Heavy commercial trucks can carry a good lead of weight, however, one must have a permit to do so.
Growth in the level of investments for research and development activities and upsurge in the need of heavy commercial trucks by automotive, agriculture, and other end user industries will foster in growth in the market value. Rising urbanization in the emerging and advanced economies coupled with rising consumer inclination towards utilizing vehicle with advanced technology will also create lucrative growth opportunities for the market. Growth in the production of commercial vehicles especially in the Asia-Pacific region, surging initiatives by the government to promote industrial growth and rising awareness among the individuals about waste management and recycling will also foster the market growth.
However, lack of technological expertise in the developing and underdeveloped economies will pose a major challenge to the market growth rate. High costs involved with technological innovations and research and development proficiencies, poor infrastructural facilities in the underdeveloped economies and manufacturing challenges faced by original equipment manufacturers organizations will hamper the market growth rate. Further, fluctuations in the prices of raw material such as crude oil and intensive capital investment will also restrict the scope of growth for the market.
This global heavy commercial truck market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on heavy commercial truck market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Heavy Commercial Truck Market Scope and Market Size
The global heavy commercial truck market is segmented on the basis of truck type, class, fuel, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Heavy commercial truck market on the basis of truck type has been segmented as semi-trailer truck, 18-wheeler truck, tanker truck, heavy truck, flatbed truck, garbage truck, dump truck, and panel truck.
- Based on class, the heavy commercial truck market has been segmented into class 5, class 6, class 7, and class 8.
- On the basis of fuel, the heavy commercial truck market has been segmented into diesel, natural gas, hybrid electric vehicle, and gasoline.
- On the basis of application, the heavy commercial truck market has been segmented into agriculture, logistics, construction, and mining.
Heavy Commercial Truck Market Country Level Analysis
The global heavy commercial truck market is analysed and market size insights and trends are provided by country, truck type, class, fuel, and application as referenced above.
The countries covered in the heavy commercial truck market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific will score the highest growth rate owing to the increasing demand for commercial vehicles, the presence of some of the leading players operating in the market, growing number of end user industry verticals such as automotive, heavy machinery, rising buildings and construction activities in countries like India, China, Japan and Korea, surging focus of the players are focusing on research and development activities to increase their product lines and expansion of automotive sector.
The country section of the heavy commercial truck market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Heavy Commercial Truck Market Share Analysis
The heavy commercial truck market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to heavy commercial truck market.
Some of the major players operating in the heavy commercial truck market are Daimler AG., Dongfeng Motor Company, EICHER MOTORS LIMITED, Geely Auto, Hyundai Motor Company, Renault Group, Ford Motor Company, Navistar, Inc., Oshkosh Corporation, PACCAR Inc., Tata Motors., Volkswagen AG, AB Volvo, Beijing Automotive Group CO., ltd., ISUZU MOTORS LIMITED, IVECO, Scania, MAN and DAF among others.