Future Outlook of High Performance Trucks Market Poised to Achieve CAGR of 5.83% by 2023 - Arden, Caterpillar, Chevrolet, Daimler, Dodge, Ford, Gmc, Isuzu, Iveco, Man, Nissan, Tata, Toyota, And Volvo

The global market for high-performance trucks is growing at a CAGR of 5.83% during the forecast period. The growth is mainly due to the increasing demand for high-performance commercial vehicles from the manufacturing and industrial sectors. Pickup trucks have been on the market for more than a century but were never meant to be high-performance vehicles. The primary characteristics of a pickup are large cargo capacities, heavy-duty components, and prolific ground clearance. The demand for downsized engines, along with the rampant use of additional powertrain to boost the engine, has brought about the evolution of high-performance trucks in the recent years.

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Chevy’s Silverado is one of the standout examples exhibiting the degree of change pickups have undergone in the past five years. The vehicle has a luxurious interior, along with a towing capacity of 12,000 pounds, with more than 420 horsepower and 460 pound-feet torque. The vehicle, with an automatic transmission of V8, can go from zero to 60 in a mere 5.7 seconds. Apart from Chevrolet, Dodge is also one of the very few companies who are intricately involved in the manufacturing of high-performance trucks in North America and Europe and has generated a huge portfolio of high-performance vehicles, especially in the last 5 years.

Increasing Industrial Applications to Push the Market Growth

The increasing demand for performance trucks in industrial applications has also helped to increase imports significantly. The commercial trucks are also getting modified for the internal engine components with new pistons, connecting rods, camshafts and other equipment to provide enhanced performance and adequate boost. The long-haul trucks are expected to account for the highest growth in the high-performance truck segment in the global market. However, stagnancy in the construction and mining activities in Latin American as well as European countries has been a cause of concern in the adoption of these trucks.

Key Developments in the Market:

February 2018: DEVOLRO Announces Launch of its Custom Tuning Portfolio for the Shelby Ford F-150.

March 2018: Lighter 2019 Chevy Silverado Offers Duramax 3.0L Diesel.

Major Players:

ARDEN, CATERPILLAR, CHEVROLET, DAIMLER, DODGE, FORD, GMC, ISUZU, IVECO, MAN, NISSAN, TATA, TOYOTA, AND VOLVO, amongst others.

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Sports Segment to Register the Highest Growth
The sports segment has also received huge traction in the market with increased emphasis on performance and styling from racing enthusiasts. The trucks usually have customized components like fine-tuned chassis, coupled with well-designed supercharger and intercooler package. The market for high-performance sports trucks is expected to grow at a CAGR of around 12.28% during the forecast period.

TRD, a concept sports truck, was modified by Toyota with internal engine components of new pistons, connecting rods, camshafts and other equipment to provide 400 horsepower and 350 lb.-ft. torque. This configuration provides a boost of over 160 horsepower and 80 lb.-ft. torque. The engine is coupled to the six-speed manual transmission, using a special billet steel flywheel, 30% lighter than the conventional ones. In addition, a version of the Dodge Ram truck features dual racing stripes, performance engine tuning and 17-inch wheels suited for racing tracks. The 17-inch wheels are custom aluminum models that are fitted with ultra-high performance tires. The 5.9L V8 engine boasts an additional 10 horsepower for a 245 hp rating.

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This release was published on openPR.