Will The Extensive Use Of Trucks In Construction Boost The Global Heavy-Duty Trucks Market Size During 2019-2025?
The competitive landscape of heavy-duty trucks witnesses various industry mammoths investing heavily in the research and development with an intent to manufacture robust engines. In fact, the automotive giant Tesla in 2017 rolled out its electric class 8 Semi Truck featuring advanced technologies, thereby contributing to the industry expansion.
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A paradigm shift towards the adoption of downsized engines in tandem with smart hybrid technologies with an intent to enhance the fuel efficiency have triggered the business growth. As a matter of fact, several industry players are introducing multiple variants of trucks with varied payload capacities and engine configurations to serve a diverse range of customers, eventually proliferating the industry size.
The onset of technological developments such as autonomous driving, enhancements in engine systems, tire pressure management, and others are supplementing the industry expansion over the forecast period.
Moreover, stringent regulatory norms addressing the improvement in global transportation network are also fostering the market growth.
The global heavy-duty trucks market size is anticipated to record an overall valuation of nearly USD 260 billion by 2025, as cited by a Global Market Insights, Inc., research report.
How will the rising deployment of natural gas in various heavy-duty trucks contribute towards the growth of global heavy-duty trucks market trends?
The global heavy-duty trucks industry, as per the fuel spectrum, is segmented into 4 different categories- natural gas, gasoline, diesel, and hybrid electric vehicle.
The natural gas segment is expected to perform commendably over the forecast period owing to its higher efficiency and reduced carbon footprint. Also, the strict regulatory reforms pertaining to regularizing the emissions from heavy-duty trucks would boost the growth of natural gas based heavy-duty trucks market size.
In addition to that, refining natural gas infrastructure alongside expanded grid of fueling stations would permit the industry to leverage hefty proceeds by the end of 2025.
As per estimates, the natural gas segment is expected to record a CAGR of 2 per cent through 2025.
Are construction based heavy-duty trucks impacting the growth trajectory of the global heavy-duty trucks business?
It is prudent to mention that the mounting construction activities across the globe have prompted the construction applications to hold a substantial stake in the global heavy-duty trucks market share during the mentioned timespan.
The higher loading capacities of the trucks in tandem with robust torque and power have enabled the heavy-duty trucks to gain appreciable traction in the construction sector.
Moreover, enhanced technological innovations in the trucks have stimulated the business dynamics over the years.
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How does heavy-duty trucks industry outlook seem like, considering the contribution of pivotal regions?
APAC has been considered to be an outpacing region for the global heavy-duty trucks market since the last few years and is projected to progress at a prodigious pace in the ensuing years. This growth can be aptly attributed to the burgeoning commercialization, advent of advanced manufacturing plants, and adoption of technologically innovated vehicles across the region.
Furthermore, rising demands for heavy-duty trucks from the growing economies of the region like China, India, and Japan would propel the business growth.
In terms of the geographical growth, North America is predicted to emerge as a strong contender in the global heavy-duty trucks market accounting to the dominance of major manufacturers in the region. Some key factors impelling the regional growth include, escalating freight demands, increasing affluence amongst the developing nations, and expanding industrial and construction activities.
Table of Contents (ToC) of the report:
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and forecast parameters
22.214.171.124. Assumptions, methodology and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Heavy-duty trucks industry 360° synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Class trends
2.1.4. Fuel trends
2.1.5. Horsepower trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Impact of COVID-19 on heavy-duty trucks industry landscape
3.2.1. Global outlook
3.2.2. Regional impact
126.96.36.199. North America
188.8.131.52. Asia Pacific
184.108.40.206. Latin America
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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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