Sales Of Heavy-Duty Trucks Are Expected To Exceed A CAGR Of 10% By 2031

Global Heavy Duty Trucks Industry Outlook in 2022 and Beyond

The Heavy Duty Trucks industry is looking forward to 2021 with a sense of optimism. In 2020, Heavy Duty Trucks sales recovered in the last quarter to salvage lost momentum during March-April 2020. And, as vaccine rollout gains momentum, most automakers are hoping for better performance in 2021.

Request Sample- https://www.factmr.com/connectus/sample?flag=S&rep_id=2535

Key Segments Covered

By Class :

Class 7 Heavy Duty Trucks
Class 8 Heavy Duty Trucks
Class 9 Heavy Duty Trucks

By Fuel :

Diesel-powered Heavy Duty Trucks
Natural Gas-powered Heavy Duty Trucks
Hybrid Electric Heavy Duty Trucks
Gasoline-powered Heavy Duty Trucks

By Application :

Heavy Duty Trucks for Logistics
Heavy Duty Trucks for Construction
Heavy Duty Trucks for Agriculture
Heavy Duty Trucks for Defence
Heavy Duty Trucks for Mining
Heavy Duty Trucks for Other Applications
US Heavy Duty Trucks Industry Set to Recover in 2022

In 2020, US Heavy Duty Trucks sales were to the tune of 17.1 million. The outbreak of COVID-19 in early 2020, and subsequent shutdown created apprehensions that 2020 may be the worst year for US auto industry since Great Depression.

However, Heavy Duty Trucks sales climbed back slowly in US, partly helped by a quick shift to online sales. Many US automakers are now investing highly in online sales channel, with 2021 expected to witness high online sales.

As per early success of vaccine inoculation and consumer receptivity toward online sales, it is highly likely that 2021 will be a better year for sales. Total Heavy Duty Trucks sales in US are likely to be in the range of 15.5 million to 16 million.

Request Customization- https://www.factmr.com/connectus/sample?flag=RC&rep_id=2535

Competitive Landscape

Vendors in the heavy-duty trucks market are focusing on launching new products with advanced features to gain a competitive edge in the market.

In July 2021, Diamler Truck, The TRATON GROUP and Volvo group have come together to install electric heavy duty and long haul trucks across Europe.
In December 2017, Scania built its new XT range to be as bump and dent-proof as possible without wrapping it in plastic, and up-specced the components for constant heavy-duty use.
For instance, Daimler presented the first electric Freightliner truck to Penske. With the presentation of the first fully electric Freightliner eM2, Daimler Trucks started their day-to-day-operation testing of heavy-duty and medium-duty e-trucks in the U.S. Daimler's subsidiary Daimler Trucks North America (DTNA).

Europe Heavy Duty Trucks Market Players Can Benefit from Foreign Exports

The Europe automobile market is also likely to witness a recovery in 2021. The European Automobile Manufacturers' Association is hoping for a 10% increase in sales.

As is the case in US, European auto industry is hoping that vaccine inoculation brings the pandemic under control. Many countries in Europe have witnessed severe waves of COVID-19 pandemic, and are now in recovery phase.

While the domestic Heavy Duty Trucks demand is likely to recover at a steady pace in Europe, exports to China, Latin America, and Asia Pacific are likely to induce momentum for European auto companies.

China will Further its Lead as World's Largest Heavy Duty Trucks Market

The Heavy Duty Trucks industry in China represents the brightest optimism for any country globally. The pandemic recovery in China is at an advanced stage as compared to western countries. Further, the government in China is focusing on a massive infrastructure push, which is likely to help automakers exporting their wares to China.

China is the only major economy to have grown in 2020, and country's China Association of Automobile Manufacturers is forecasting 26 million sales in 2021. Volkswagen Group and General Motors are likely to maintain their position as the country's largest foreign automakers.

China is the world's largest automobile market, and going by the economic scenario and COVID-19 recovery, the country is likely to remain at numero uno position in the future as well.

Buy Now- https://www.factmr.com/checkout/2535

Indian Heavy Duty Trucks Outlook Subdued by COVID-19 Resurgence

The Indian automobile industry is beset with challenges arising due to a nation-wide second wave of COVID-19 epidemic. Things were looking up for the Indian automobile industry, however, lockdown measure to contain a more virulent COVID-19 can dent overall sales in 2021.

The localized restrictions imposed by governments can have an impact on dealership activity, logistics, and in-showroom consumer visits. Also, it is anticipated that India may have to brace up for further waves of COVID-19, which can dent consumer sentiment.

Key Long-term Trends

Overall, the Heavy Duty Trucks industry is looking for a recovery year in 2021. While China is anticipated to take the lead, healthy recovery in US and Europe markets will create necessary impetus. Amidst the recovery phase, there will be some mega trends and some subtle trends that will have a bearing on Heavy Duty Trucks market in the long run. These include,

Further gains in connected and autonomous cars

Connected and autonomous cars may have lost some of their momentum in 2020, but their long-term forecast remains bullish. Automakers are increasingly aware of the white space Silicon Valley giants are eyeing. In the long run, an increase in proprietary software of partnership with tech companies will be in the offing.

Electric vehicle sales will continue unabated

The sales of electric vehicles have grown from strength to strength, dispelling the skepticism and early apprehensions. The focus now is on developing a scalable production model and enough charging stations so consumers are confident of investing in the technology of tomorrow.

For More Insights- https://www.prnewswire.com/news-releases/automotive-headliners-demand-in-premium-cars-set-to-rise-at-above-5-cagr-through-2031-factmrs-new-study-301211717.html

US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates

Visit Our Website: https://www.factmr.com
Blog URL: https://blog.factmr.com/

About Fact.MR

Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we'll be an able research partner.

This release was published on openPR.