Insights on the Truck Global Market to 2026 – by Application Type, Truck Tonnage Capacity, Fuel Type, Vehicle Type and Region – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Truck Market” report has been added to ResearchAndMarkets.com’s offering.
The global truck market was valued at $809.46 billion in 2020 and is expected to grow at a CAGR of 7.50% in the next five years till 2026.
Companies Mentioned
- Daimler AG.
- Tata motors limited
- Dongfeng Motor Corporation
- Navistar, Inc
- AB Volvo
- Hino Motors Ltd.
- IVECO- a CNH Industrial Company
- Paccar Inc
- MAN SE
- Scania AB
The anticipated growth can be attributed to driving factors like increased dependency over on-road transportation processes. Although the transportation can be carried out via railways and air transportations, trucks allow effective transportation in difficult terrains like hilly areas and deserted lands. Also, the expansion of the construction industry and their demand for the transportation of heavy construction material is further driving the growth of the Global Truck Market in the upcoming five years. Surging demands for heavy-duty trucks are also anticipated to support the Global Truck Market growth in the next five years.
The incorporation of advanced technologies like GPS-enabled services, etc., further supports the growth of the Global Truck Market by increasing demands for effective driving conditions in the future five years. Moreover, factors like increasing disposable income among the consumers, growing urbanization, and expanding rural economy growth may further aid the future growth of the Global Truck Market in the forecast years until 2026. The mining industry is also expanding such that the demand for products like metals, coal, oil shale, gemstones, limestone, chalk, dimension stone, rock salt, potash, gravel, and clay is increasing and is indirectly substantiating the growth of the Global Truck Market in the upcoming five years.
Although, slow adaptations of the advanced automobiles in some developing countries due to higher expenses required for the new purchases might create mild hindrance in the futuristic market growth. However, increasing demands for trucks from the logistics industry may support the growth in such countries in the forecast period.
The Global Truck Market is segmented by application, truck tonnage capacity, fuel type, vehicle type, competitional landscape and regional analysis. Based on application, the market is further bifurcated into logistics, construction, mining, and others. Logistics applications of the trucks are anticipated to register the largest revenue shares of the market and dominate the market segmentation in the upcoming five years on the grounds of increasing demands from consumers over services, quality, and features of the advanced automobile for logistic purposes.
To transport the resources and material from excavation or origin point to storage and then to their destination for distribution and final sales, is carried out through trucks. With increased globalization and industrialization, the sub-segment is anticipated to register further growth while aiding the growth of the Global Truck Market in the next five years. The construction sub-segment is anticipated to register significant growth in the next five years on account of increasing global construction processes. The demand for the transportation of the construction material and equipment from the source to the construction site aids the growth of the sub-segment as well as drives the growth of the Global Truck Market in the future five years.
Objective of the Study:
- To analyze the historical growth in the market size of the Global Truck Market, in terms of value and volume, from 2016 to 2020.
- To estimate and forecast the market size of the Global Truck Market from 2021 to 2026 and growth rate until 2026.
- To assess the demand-supply scenario of truck which covers production, demand, supply, and net inventory status of truck globally.
- To analyze and forecast the market size of trucks in terms of value as well as volume.
- To classify and forecast the Global Truck Market based on by application, by truck tonnage capacity, by fuel type, by vehicle type, by company and by region.
- To identify drivers and challenges for the Global Truck Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Truck Market.
- To conduct the pricing analysis for truck market.
- To identify and analyze the profile of leading players involved in the manufacturing of trucks.
Report Scope:
In this report, the Global Truck Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Truck Market, By Application Type:
- Logistics
- Construction
- Mining
- Others
Truck Market, By Truck Tonnage Capacity:
- Class1
- Class2
- Class3
- Class4
- Class5
- Class6
- Class7
- Class8
Truck Market, By Fuel Type:
- Diesel
- Petrol/Gasoline
- CNG/LNG/LPG
- Electric & Hybrid
Truck Market, By Vehicle Type:
- Light Duty
- Heavy Duty
- Medium Duty
Truck Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- India
- Australia
- Indonesia
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Middle East and Africa
- South Africa
- Saudi Arabia
- Iran
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/ljq7kl
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