The global Heavy Duty Trucks Market share
report provides numbers for applications and regional segments of the industry
covering historical as well as forecast data for decision makers. Growing
urbanization has increased the transport volume leading to an increased demand
for this industry.
The new connectivity based business models
are transforming the heavy duty and medium-sized trucks by improving safety,
decreasing the cost of ownership, and enhancing the convenience level of
owners. Strict emission limits will enhance the powertrain development and new
advanced truck concepts.
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Growing middle class in the emerging
economies will drive the transport volume of goods consumed, offering
substantial growth prospects to the industry players over the forecast period.
Increasing mining and construction activities in these growing economies are
leading to a higher demand for earthmoving and mining equipment, thereby
increasing demand for heavy duty vehicles. Daimler presented a common engine
platform for heavy duty applications that helped it to decrease costs by 6 to
10 percent.
There is a demand for more powerful vehicles with higher
carrying capacity to handle the weight, strong suspension systems to navigate
poor road conditions, and reliable vehicles to cope with the practice of
overloading. Moreover, customers needing a large fleet, enhanced service
networks, and timely service seek mobility packages, telematics systems, strong
fleet management capabilities, cross border financing, and international
customer support. These demands are driving the manufacturers’ attention toward
heavier trucks with higher value.
On the basis of product, the heavy duty trucks market is
segmented into container, bulk cargo, fuel tank, and other. Bulk cargo includes
commodity cargo, which is transported and unpacked in huge quantities. It
contains materials in liquid, particulate, or in relatively small solid forms
such as grain, coal, and other.
Some of the key players in the
heavy-duty trucks market include Ford Motor Company, Nissan, Toyota, General
Motors, FCA, Freightliner, Volvo, Kenworth, Navistar, Paccar, Peterbilt,
International, Tata Motors, Volkswagen, and Daimler. The manufacturers, mainly
in Germany are engaged in developing new business models to generate new
revenue streams. Also, the industry participants are strengthening their local presence
and investing in advanced technologies. Some OEMs, such as Volvo and Daimler,
are focusing on vertical integration, enabling them to control both product
differentiation and profit margins.
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