Custom Peterbilt Trucks For Sale – Heavy Duty Trucks Market size is estimated to exceed USD 160 billion by 2024; according to a new research report by Global Market Insights, Inc. The logistics segment is anticipated to witness a substantial growth rate with a rate of 4.9% until 2024.
Increased orders for new trucks due to increased recovery of equipment manufacturers from the goods market will fall in favor of product penetration. The buildup of new orders and a special balance in inventory levels will have a positive impact on the size of the heavy duty truck market.
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Natural gas will generate demand for more than 160,000 units in the heavy duty truck market by 2024. Increased fuel efficiency and increased preference for low emissions will support industrial expansion. The increasing number of natural gas filling stations coupled with the superior mileage offered by products will drive industrial demand.
Companies profiled in this report are based on Business overview, Financial data, Product landscape, Strategic Outlook & SWOT analysis:
3. Eicher Motors Limited
5. Ford Motor Company
7. General Motors
11. Oshkosh Corporation
13. Tata Motors
14. Tata Motors
Heavy Duty Truck Market by Fuel
• Natural gas
• Hybrid electric vehicles
Market Heavy Duty Trucks by Application
In 2016, grade 5 contributed more than 12% of the industry’s total share in terms of volume. This can be credited to superior features including extensive use in the construction and logistics sectors. In addition, strong developments in manufacturing, especially from developing countries, are expected to support further industrial growth.
Asia Pacific is projected to register the maximum revenue share during the forecast period due to increased production in all regions, especially in developing countries including China and India. The high availability of cheap labor and raw materials will drive the growth of the heavy duty truck market throughout the region.
Increasing domestic and international trade activities throughout the world will significantly boost the size of the heavy duty truck market during the forecast period. Roads and railways leading goods transportation units increase overall business growth.
Strict government protocols relating to controlling emissions with the requirement to replace old vehicles will further spur product sales. Most customers depend on the core values of product offerings along with high quality, environmental safety and maintenance features. Products that offer the higher power needed by the application will increase the growth of the overall heavy duty truck market.
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Daimler, Tata Motors, General Motors, FAW Group, Volvo, Toyota, Freightliner, Ford, Volkswagen, ISUZU Motors, Peterbilt, PACCAR, Kenworth, Navistar, FCA, MAN, Scania, and Ashok Leyland are major players in the heavy duty truck market.
Other important companies in terms of geographical presence include Iveco, Dongfeng Motor Group, Hino, Anhui Jianghuai Automobile, KAMAZ, Beiqi Foton, Beijing Auto Industry and China First Automobile Works Group.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, USA, is a provider of global market research and consulting services; offer syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specifically designed and presented to assist strategic decision making. This full report is designed through exclusive research methodologies and is available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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