The global heavy duty trucks market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each heavy duty trucks market player in a comprehensive way. Further, the heavy duty trucks market trends report emphasizes the adoption pattern of the heavy duty trucks across various industries.
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.
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.
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APEJ Region Critical in the Heavy Duty Trucks Market
The APEJ region is estimated to account for more than 20% market share in the global heavy duty trucks market in 2018, and this share is expected to grow by a massive rate, causing the APEJ market to grab more than 25% market share by the end of 2027. The rapid economic growth leads this highly populous continent and increases in the e-commerce sector in Indian and South Korean countries, and goods manufacturer and suppliers in these countries will continue to demand the maximum heavy duty trucks.
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.
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