Market Snapshot:
Heavy Duty Trucks are the massive and powerful vehicle that are designed to transport heavy cargoes and for heavy work. These trucks are a plays a major role in the transportation industry as they are movers of large quantities, products, materials no small vehicle can do on land. The function of these truck is Towing, Moving, Hauling, and Delivery/Transport and so on. Here are many uses of these trucks including towing and moving houses, delivery and transport and recovery of disabled and stranded vehicles, moreover these trucks are categorized by class7 and class8. Increasing the mining and construction activity across the globe is booming the demand for the heavy-duty trucks in the market.
Highlights from Heavy Duty Trucks Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Manufacturers profiled in the report are Daimler AG (Germany), Volvo Group (Sweden), Dongfeng Motor Corporation (China), Volkswagen Group (Germany), Tata Group (India), MAN Truck & Bus (Germany), PACCAR (United States), Scania AB (Sweden), Iveco (Italy) and Ashok Leyland (India). Additionally, other players that are part of this comprehensive study are FAW Group Corporation (China), ISUZU MOTORS (Japan) and Mack Trucks (United States).
Geographic Breakdown and Segment Analysis
The Global Heavy Duty Trucks market presents a comprehensive analysis of the Heavy Duty Trucks market by product type (Class 7 (Street Sweepers, Furniture Trucks, Other) and Class 8 (Cement Trucks, Dump Trucks, Freightliners, Others)), by end-user/application (Agriculture, Logistics, Construction and Mining), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Heavy Duty Trucks industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Heavy Duty Trucks market
Analyst at AMA have segmented the market study of Global Heavy Duty Trucks market by Type, Application and Region.
Influencing Trend:
The Trend for Alternative Fuel Heavy Duty Trucks Is Growing
Market Growth Drivers:
Evolution in Construction Activities to Drive the Demand for Heavy-duty Trucks and The Growing Investments in the Construction of Roads, Highways, Smart Cities, Metros, Bridges, and Expressways
Challenges:
The Continual Evolution of Methods and Material, Rapid Change in Technologies
Restraints:
The Impact of Regulations, Demand Fluctuation
Opportunities:
Infrastructure, Residential, And Non-Residential Sectors Propelling the Manufacture with Good Growth Opportunities of Heavy Duty Trucks
Market Developments Activities:
In March 2019 German Company Daimler Trucks Acquired Torc Robotics Stake For Self-Driving Trucks. This Acquisition Will Help The Truck Manufacturing Company Daimler By Accelerating Software Development And Self-Driving Technology With Caterpillar With Mining And Agricultural Applications. Carrying Torc Robotics Within The Daimler Trucks Intimate Creates A Unique And Powerful Team Of Innovators To Put Vastly Automated Trucks On The Road.
For Instance, In February 2020 Volvo Truck Sweden Based Automobile Manufacturing Company Has Debuted New Generation Of Heavy Duty Trucks With The Driver In Focus Such As Environment, Safety And Productivity By Launching Four Heavy Duty Trucks. In Focus Driving Behavior Help To Reduce CO2 Emission And Fuel Costs. Enhanced Safety Systems To Help Avoid Accidents.
Key Target Audience
New Entrants/Investors, Heavy Duty Trucks Manufacturers, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors of Reach Trucks, Venture Capitalists and Private Equity Firms and End-Use Industry