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2020-09-01
758
Global
Global Trucks Market Outlook, 2030
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.
By Vehicle Type
By Fuel Type
Based on Geography
Goldstein Market Intelligence analyst forecast the global truck market size is set to grow 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.
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.
The report covers the present ground scenario and the future growth prospects of the trucks market for 2017-2030 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 2017-2030 by Goldstein Market Intelligence 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.
Our global Trucks market report comprises of the following companies as the key players.
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.
The report analyses and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Truck Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
We can provide two hour complimentary interaction with our analyst after the purchase of this market report. Details are imparted within the report.
A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements
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