Press release
Heavy Duty Trucks Market to reach USD 551.90 Bn by 2030, emerging at a CAGR of 5.2 percent and forecast 2024-2030
Heavy Duty Trucks Market, Heavy Duty Trucks Market Scope, Heavy Duty Trucks Market Analysis,
The Heavy Duty Trucks Market report by Maximize Market Research Pvt Ltd encompasses a comprehensive scope that meticulously examines the characteristics, applications, and market dynamics of heavy-duty trucks. The report delves into the crucial role these vehicles play across various industries, including logistics, construction, and agriculture. It explores the global significance of heavy-duty trucks in facilitating commerce and contributing to infrastructure development. The scope extends to the identification of key market segments, such as vehicle types, fuel types, and applications, providing a holistic view of the industry landscape.
The primary research phase involves engaging with experts from high-performance truck OEMs and Tier I suppliers. These primary respondents contribute valuable insights to validate the analysis. The secondary research utilizes reputable sources such as the International Council on Clean Transportation, Green Truck Association, OEM websites, annual reports, and premium databases like Factiva and Bloomberg. The report adopts a bottom-up approach for market modeling, focusing on country-level mapping of different truck types. This meticulous methodology ensures the authenticity and accuracy of the presented insights, providing stakeholders with a trustworthy foundation for strategic decision-making.
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What are Heavy Duty Trucks Market Dynamics:
The strict emission norms set by governments are expected to drive the market for the hybrid electric segment in the forecast period. Advanced software programs are being created by the European Commission (EC) to calculate fuel use and CO2 emissions. Market players are releasing new models of fully electric and hybrid heavy-duty trucks in response to these policy changes in North America and Europe. Thanks to rising infrastructure and ongoing need for freight loading in North America, India, and Japan, electric truck segment is expected to witness high growth. The impact of these drivers is studied and analyzed to present in dollars value in the report.
Since, due to the global economic slowdown in 2019, most countries witnessed a decline in truck sales. This trend continued in 2020 as a result of the COVID-19 outbreak. The growth curve in this segment is interestingly different and expected huge demand from some countries.
Companies including Tesla, BYD, Volvo and Mercedes-Benz have introduced electric truck versions are expected to eventually replace diesel and gasoline-powered in upcoming years.
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Heavy Duty Trucks Market Regional Insights:
The Asia Pacific region emerges as a pivotal market, projected to be the largest contributor to high-performance truck volume. This dominance is attributed to regulatory changes, consumer preferences, and heightened infrastructure requirements driven by major events such as the Olympics in South Korea (2018), Japan (2020), and China (2022). These factors collectively contribute to the significant expansion of the transportation sector in the Asia Pacific region.
The report anticipates substantial growth in other regions as well, emphasizing the strategic focus on developing markets like Brazil and Russia. Established market players, including Navistar, Volvo, Daimler, PACCAR, and GAZ Group, are strategically expanding into these regions, leveraging the potential of lucrative export opportunities. Additionally, the report underscores the rapid growth of the Heavy Duty Trucks Market in the Rest of the World (RoW), driven by factors such as the flourishing beef sector and the enticing prospects for refrigerated trucks. These regional insights offer a comprehensive understanding of the geographical nuances shaping the trajectory of the heavy-duty truck industry.
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What is Heavy Duty Trucks Market Segmentation:
by Vehicle Type
Medium
Heavy-Duty
Pickup
by Fuel Type
Diesel
CNG
LNG
by Application
Distribution
Container
Dumping
Refrigeration
Tanker
RMC
Special Application
Logistic
Agriculture
defense
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Who are Heavy Duty Trucks Market Key Players:
North America
1. Oshkosh Corporation (US)
2. Mack Trucks (US)
3. Navistar (US)
4. Kenworth (US)
5. Tesla Motors (US)
6. Paccar Inc. (US)
Asia Pacific
7. Mahindra Motors (India)
8. Ashok Leyland (India)
9. TATA motors (India)
10. Eicher Motors (India)
11. Hindustan Motors (India)
12. Hino Motors (Japan)
13. Mitsubishi Fuso (Japan)
14. Isuzu Motors Ltd (Japan)
15. Dongfeng Motor Group Company Ltd (China)
16. Hyundai (South Korea)
Europe
17. Daimler AG (Germany)
18. Ford Motor Company(Germany)
19. Volkswagen (Germany)
20. Scania AB (Sweden)
21. Volvo Trucks (Sweden)
22. MAN Truck (UK)
23. Renault Trucks (France)
24. DAF Trucks (Netherland)
25. IVECO (Netherland)
Table of content for the Heavy Duty Trucks Market includes:
1. Global Heavy Duty Trucks Market: Research Methodology
2. Global Heavy Duty Trucks Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3.Global Heavy Duty Trucks Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4 . Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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