Heavy-Duty Trucks Market


Posted September 28, 2018 by supriyaghuge95

Rising domestic and international trading activities across the globe will primarily drive the heavy-duty trucks market size over the next eight years.

 
Heavy-Duty Trucks Market is expected to cross US$ 188 Bn in 2026 at 7% CAGR
Rising domestic and international trading activities across the globe will primarily drive the heavy-duty trucks market size over the next eight years. Road and rail dominate the freight transport segment boosting the overall business growth. Increasing fleet size will support the logistics and construction sectors which in turn drive the heavy-duty trucks market share from 2017 to 2026. An upsurge in demand for heavy commercial vehicles used in mining and agricultural applications with enhanced transmission will positively influence the product penetration.

Class 5 will be the leading product segment during the forecast period
The growth rate is driven by its wide usage in logistics and construction sectors. Moreover, strong improvement in the production, particularly from emerging countries, is expected to further support the industry growth.
Among applications, logistics is expected to grow at the highest CAGR
Orders for new lorries are increasing as the equipment manufacturers are recovering from the slumping freight market. Bulking up of new orders and balance in inventory levels will support the growth till 2026.

The Asia Pacific to dominate the Heavy-Duty Trucks market in the forecast period
Asia Pacific is a leader in the Heavy-Duty Trucks market and is expected to hold the largest share of the Heavy-Duty Trucks Market – Rising production across the region, especially in emerging economies including India and China is driving the market. Availability of cheap labor and raw materials fuels the regional growth of heavy-duty trucks market till 2026. The Heavy-Duty Trucks Market in Europe is expected to grow at the highest CAGR during the forecast period. This can be attributed to the technology used in the region coupled with the presence of established players in developed countries.
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Tags heavyduty trucks market
Last Updated September 28, 2018