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Market Research Report

Global Truck Market Size, Share, Sales Data, Trends, Growth Factors, Manufacturers, Demand & Growth Analysis by Vehicle Type (Light Weight, Medium Weight, & Heavy Weight Trucks) and by Fuel Type (Diesel, Electric, Gasoline/Natural Gas) with Regional Outlook for Forecast Period 2016-2024

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Global Trucks Market Outlook, 2024

Market Overview

Trucks are majorly used for public transportation, load carriage, long-haulage, logistics activities, etc. The global truck industry is on the border of major change. The general economic situations are expected to drive truck manufacturing developments in different regions. With the growing road construction sectors, growing urbanization and increase in urban logistics concept globally the global truck market is increasing. The commercial vehicle market is expected to grow 1.4% annually in the next five years due to continued economic growth. The truck market is faster than rail transport and much cheaper than the air transport, giving it a fortunate positioning in the transportation industry.

Market Segmentation

By Vehicle Type

  • Light Weight Trucks
  • Medium Weight Trucks
  • Heavy Weight Trucks

By Fuel Type

  • Diesel
  • Electric
  • Gasoline/ Natural Gas

Based on Geography

  • North America (U.S. & Canada) Trucks Market {Market Share (%), Market Size(USD Billion)}
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Trucks Market {Market Share (%), Market Size(USD Billion)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) Trucks Market {Market Share (%), Market Size(USD Billion)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Trucks Market {Market Share (%), Market Size(USD Billion)}
  • Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Trucks Market {Market Share (%), Market Size(USD Billion)}

Global Truck Market Size, Share & Forecast

Goldstein Research analyst forecast the global truck market size is set to reach USD 19.20 million by 2024, at a CAGR of 5.20% over the forecast years. After unswerving but volatile growth over the past decade, the global truck market for medium- and heavy-duty trucks is estimated to grow during the forecast period.

On the basis of vehicle type, heavy weight trucks are having the highest market share of 47.0% due to increase in globalization across the globe. Whereas, on the other hand the market share of light weight trucks is growing steadily at a market share of 21.90% as they are well suited for the current business practices such as just-in-time supply. In US 61,000 units of light weight trucks were sold in 2016.

Based on geography, Asia Pacific dominated the global trucks market with the market share of 51.2% in 2016 owing to increase in the expansion of the logistics and transportation sector. With the increase in e-commerce industry, the logistics market is also increasing. North America is growing steadily with the market share of 32.1% as 70% of incremental sales in 2024 will be generated outside the Triad markets.

Truck Market Trends, Drivers, & Challenges

According to our global market study on the basis of extensive primary and secondary research:  “One of the major trend in the global trucks market is that trucks will become more integrated in the logistics chain, with the arrival of shipments to factories and warehouses etc. all the players will have the full transparency and trucks will be able to communicate their contents and destinations with the other trucks and will automatically match the shipments with the help of technology platforms such as cloud based technology. Parts of digitalized trucks are being put in place though it is still at least a decade far in future.”

According to the report, major driving factor for trucks market is the increased urbanization. Construction and logistics market are the major demand originators of the tucks industry. With the several construction projects going on such as London Crossrail Project, Dubai airport and Beijing airport, China, are driving the global trucks market.

Further, the report states the major challenge is the fuel cost and driving patterns and behavior of the drivers. In addition, the availability of alternative transports such as railways is the major restraints of the global truck market, which in turn impact the growth of the truck market.

Covered In This Global Truck Market Report

The report covers the present ground scenario and the future growth prospects of the trucks market for 2016-2024 along with the proportional analysis of the major consuming countries, revealing opportunities opened for producers and exporters across the globe. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe.

Truck market Analysis 2016-2024 by Goldstein Research has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global Trucks market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global Trucks market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Key Market Players

Our global Trucks market report comprises of the following companies as the key players.

  •  Mercedes-Benz
  •  Volvo
  •  MAN
  •  Tata Motors
  •  DAF Trucks
  •  Isuzu

Other high-flying vendors in the market are: Freighliner Trucks, Mitsubishi Fuso, Ashok Leyland, Eicher, Yorkshire, and Hanomag.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

For a full detailed overview, send us request for global truck market report sample.

Key questions answered in this study

  • What is the total market size by 2024 and what would be the expected growth rate of market?
  • What is the revenue of trucks in 2015-16 and what would be the expected demand over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry level players?
  • What are the recent developments and business strategy of the key players?

We can provide two hour complimentary interaction with our analyst after the purchase of this market report. Details are imparted within the report.

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Global Truck Market Size, Share, Sales Data, Trends, Growth Factors, Manufacturers, Demand & Growth Analysis by Vehicle Type (Light Weight, Medium Weight, & Heavy Weight Trucks) and by Fuel Type (Diesel, Electric, Gasoline/Natural Gas) with Regional Outlook for Forecast Period 2016-2024

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