Heavy Duty Trucks Market Growing at Steady CAGR to 2027

Posted on 2020-03-02 by Mark Hub in Internet & Online // 0 Comments

Heavy-duty trucks form a vital part of the current transportation industry. At the global level, heavy-duty trucks are accountable for the major level of freight & logistics movement on land. They function as a pivotal vehicle across the manufacturing, construction, and agriculture sector. Presently, increased involvement of heavy-duty trucks in the mining industry has been motivating market growth in a significant manner. Hence, to study the global market scenario in-depth Fact.MR has published a new assessment titled “Heavy Duty Trucks Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2027”. This investigation presents a clear picture about the market size, demand forecast and geographical market share, so as to enlighten investors and market players about future scheduling.

According to this Fact.MR study, the heavy-duty trucks market depict positive growth at CAGR of 4.1%, and is anticipated to rise gradually during the stated forecast period. It has been analyzed that different vendors across the heavy-duty trucks market are stressing heavily on product development houses that deliver heavy-duty trucks and gain a reasonable edge in the market through the distribution of diversified product categories.

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International and Domestic Trade Steering Demand for Heavy-Duty Trucks

The report highpoints the importance of international and domestic trade movements which are driving greater demand for heavy-duty trucks. In addition, significant upsurge in logistics and construction sector is anticipated to enhance the heavy-duty trucks market in the coming years.

Considering the case in developing economies, the volume of heavy-duty trucks is likely to reach phenomenal numbers during the forecast period. This development is backed by prosperous economic growth pumped up by urbanization that has led to a prominent impact on the transportation sector.

North America Expected to Deliver Promising Demand for Heavy-Duty Trucks during Review Period

The heavy-duty trucks market across North America is projected to dominate the global market due to the high cost and swelling demand, which did led to a maximum revenue share by 2018-end. On the other hand, Europe and APEJ heavy-duty trucks markets are likely to manage more than 45% collaborative revenue share in the global heavy-duty trucks market by the end of 2027. Interestingly, the APEJ region has shown promising signs of an emerging market across the heavy-duty trucks sector. It is anticipated to exhibit over 5.5% CAGR during the stated forecast.

Competition Landscape

The research report diligently profiles some of the prominent manufacturers functioning in the global heavy-duty trucks market like Daimler, Eicher Motors Limited, Dongfeng, Fiat Chrysler Automobiles, Freightliner, Ford Motor Company, General Motors, Navistar, Kenworth, Nissan, Paccar, Oshkosh Corporation, Peterbilt, Tata Motors, Scania, Volkswagen, Toyota and Volvo. Each of these key market players from the heavy-duty trucks market are concentrating on product development as well as collaboration. Furthermore, different vendors from the heavy-duty trucks market are aiming to develop technological advanced solutions which can equip them to fulfill customer requirements. Quite recently, Daimler introduced the first electric Freightliner truck, eM2.

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The impact of globalization merged with growing need for well-organized supply chain for the transportation of goods around the world is additionally propelling the overall demand for heavy-duty trucks. Moreover, growing inclinations for hybrid and electric heavy-duty trucks is likely to boost demand for heavy-duty truck during the period until 2027.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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