Vocational Trucks Market: Value Chain Analysis, Key Player’s Developments (Mergers, Acquisitions And Expansions), Forecast 2019-2025

The global vocational trucks market is expected to achieve growth while riding on key growth factors such as increasing transportation of goods and strong demand in oil and gas, infrastructure, and construction applications. Increasing rate of urbanization and technological advancement could be other important factors helping with considerable growth of the global vocational trucks market. Earlier in 2019, Western Star Trucks, a subsidiary of Daimler Trucks North America, announced a number of new enhancements to its 4700 vocational truck. The enhancements mainly focus on driver safety and experience, enhanced productivity, faster uplift, and vehicle weight reduction.

Use of Lightweight and Corrosion-resistant Materials to Push Demand for Vocational Trucks

Availability of a range of vocational trucks according to specific operational requirements and tasks is expected to increase interest in the global market. High demand from fleet operators could be a powerful growth driver of the global vocational trucks market. Introduction of products with improved accessibility and more storage space is expected to strengthen the demand in the global vocational trucks market. Use of lightweight materials in vocational trucks to help consumers with better fuel efficiency is foretold to create rewarding prospects during the forecast period. Manufacturers are also observed to use materials with high corrosion resistance to offer more robust vocational trucks.

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Players to Focus on Offering Vocational Trucks with Enhanced Safety Features and Fuel Efficiency

The global vocational trucks market marks the presence of top manufacturers such as Daimler AG, BYD Auto Co., Ltd., Ford Motor Company, CNH Industrial N.V., Volkswagen Group, FAW Group, PACCAR Inc., Dongfeng Motor Corporation, Volvo Group, Navistar International Corp., Hino Motors, Ltd., Caterpillar Inc., ISUZU, Liebherr Group, and TATA Motors Ltd. Manufacturers are predicted to concentrate on offering consumers with better driving experience, greater fuel efficiency, and improved vehicle and driver safety features. In September 2019, Freightliner Trucks, part of Daimler Trucks North America, announced the start of the production of its Cascadia truck featuring aerodynamics enhancements and advanced safety solutions.

Manufacturers are foretold to continue to partner with automotive companies such as component system makers to launch more innovative and advanced products in the global vocational trucks market. In August 2019, Commercial Vehicle Group, a US supplier of complete cab systems in the heavy-duty truck and other markets, made an important announcement. The company was awarded the production and design of components such as cabin structure of a severe-duty vocational truck of Autocar Trucks, a US manufacturer of severe-duty, Class 7, and Class 8 vocational trucks.

By Product

● Trailer Truck

● Dump Truck

● Concrete Mixer

● Crane Truck

● Firefighting Truck

● Garbage Truck

● Tank Truck

● Others

By Engine Type

● Diesel

● Electric

● Gas

● Others

Among product type segments, concrete and dump trucks are prophesied to account for a substantial share of the global vocational trucks market. This could be due to high use of concrete and dump trucks in the lucrative construction industry. Factors such as improved consumer confidence and significantly low interest rates are expected to support the growth of the construction industry. The report also includes deep analysis of engine type segments, viz. gas, electric, diesel, and others.

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