November 29, 2021

474.96 K Units growth in Heavy-duty Trucks Market | Featuring Key Players Including AB Volvo, BYD Co. Ltd., and CNH Industrial NV | Technavio

NEW YORK, Nov. 2, 2021 /PRNewswire/ — The heavy-duty trucks market size is set to grow by 474.96 thousand units…

NEW YORK, Nov. 2, 2021 /PRNewswire/ — The heavy-duty trucks market size is set to grow by 474.96 thousand units between 2020 and 2025. However, the growth momentum is expected to decelerate at a CAGR of almost 6% over the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Factors such as increasing demand for heavy-duty trucks in emerging countries and the growing demand for heavy-duty trucks from truck rental service providers will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The heavy-duty trucks market is concentrated, and the degree of concentration will decelerate during the forecast period.

The report covers the following areas:

Heavy-duty Trucks Market 2021-2025: Segmentation

  • GVWR
    • Class 8
    • Class 7
  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • MEA

The class 8 segment generated maximum revenue in the market in 2020. The market growth in the segment is expected to be significant during the forecast period. The growth of the segment is mainly driven by the mining and construction industries worldwide. By region, the market will witness maximum growth in APAC during the forecast period. Factors such as high demand for heavy duty trucks from construction sector, expanding population, and increasing economic activities in emerging countries are driving the growth of the heavy-duty trucks market in APAC during the forecast period.

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Heavy-duty Trucks Market 2021-2025: Vendor Analysis and Scope

To help businesses improve their market position, the heavy-duty trucks market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include AB Volvo, BYD Co. Ltd., CNH Industrial NV, Daimler AG, Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Scania AB, Tesla Inc., and Volkswagen AG.

The heavy-duty trucks market is concentrated, and the degree of concentration will decelerate. The increasing demand for heavy-duty trucks in emerging countries will offer immense growth opportunities. However, the high manufacturing costs of heavy-duty trucks will hamper the market growth.

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Heavy-duty Trucks Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist heavy-duty trucks market growth during the next five years
  • Estimation of the heavy-duty trucks market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the heavy-duty trucks market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of heavy-duty trucks market vendors

Related Reports:

Global Tipper Trucks Market – Global tipper trucks market is segmented by application (construction, mining, and agriculture) and geography (APAC, North America, Europe, South America, and MEA).

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Global Forklift Trucks Market – Global forklift trucks market is segmented by type (class V, class III, class I, class II, and class IV) and geography (APAC, Europe, North America, MEA, and South America).

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Heavy-duty Trucks Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of almost 6%

Market growth 2021-2025

474.96 thousand units

Market structure

Concentrated

YoY growth (%)

7.82

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 58%

Key consumer countries

China, US, India, Germany, and Brazil

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

AB Volvo, BYD Co. Ltd., CNH Industrial NV, Daimler AG, Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Scania AB, Tesla Inc., and Volkswagen AG.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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