Heavy Duty Trucks Market 2018 Trends - General Motors, Daimler Trucks North America, Ford Motor, Toyota, Volvo

Heavy Duty Trucks Market to surpass USD 160 billion by 2024; according to a new research report by Global Market Insights, Inc. Logistics segment is anticipated to witness a substantial growth rate with a rate of 4.9% up to 2024. Increasing orders for new lorries due to enhanced recovery of equipment manufacturers from tumbling freight market will support product penetration. Bulking up of new orders and specialized balance in inventory levels will positively impact the heavy duty trucks market size.

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Natural gas will generate demand at over 160 thousand units in the heavy duty trucks market by 2024. Improved fuel efficiency and growing preference toward low emissions will support the industry expansion. Rising number of natural gas filling stations coupled with superior mileage offered by the product will propel the industry demand.

Logistics sector is estimated to witness an exponential growth rate of approximately 5% over the projected time line. Increasing number of new lorries owing to improved recovery of equipment producers from declining freight industry will aid in product adoption. Bulking up of new orders and balance in inventory levels will positively affect the heavy-duty trucks market demand.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

Daimler, Dongfeng, Eicher Motors Limited, FCA, Ford Motor Company, Freightliner, General Motors, Kenworth, Navistar, Nissan, Oshkosh Corporation, Paccar, Peterbilt, ScaniaAB, Tata Motors, Toyota, Volkswagen, Volvo

In 2016, class 5 accounted for over 12% of the total industry share in terms of volume. This can be attributed to enhanced features and broad usage in logistic and construction sectors. In addition, robust development in the manufacturing activities particularly in developing countries is expected to improve the industry.

Stringent government protocols pertaining to emission control with the requirement for replacing the old vehicles will further fuel the product sales. Majority of the customers rely on the core values of offering products along with high quality, safety and environmental care features. Products offering higher power required by the applications will boost the overall heavy duty trucks market growth.

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Increase in fleet size will support the construction and logistics segments thereby spurring heavy-duty trucks market share. Increasing demand for heavy commercial automobiles utilized in mining and agricultural applications with enhanced transmission features will support the industry growth.

Increasing global sourcing of auto components and development of road network will enhance the product adoption rate. Multiple manufacturing companies focus on improving their profit margins by relying on construction and logistics applications. This will drive the heavy-duty trucks market over the estimated time span.

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Asia Pacific is projected to register the maximum revenue share over the forecast timeframe due to the increasing production across the region, particularly in emerging economies including China and India. High availability of cheap labor and raw materials will foster heavy duty trucks market growth across the region.

Daimler, Tata Motors, General Motors, FAW Group, Volvo, Toyota, Freightliner, Ford, Volkswagen, ISUZU Motors, Peterbilt, PACCAR, Kenworth, Navistar, FCA, MAN, Scania and Ashok Leyland are key heavy duty trucks market players.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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