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Europe Heavy-Duty Trucks Market is expected to grow significantly over the projected timeframe

Author : Ronak Bora | Published Date : 2019-05-07 

Heavy-Duty Trucks Market for Natural gas segment is projected to witness a significant growth owing to lower fuel cost and reduced exhaust emissions. Utilization of natural gas in transit buses, refuse haulers, and commercial trucks coupled with stringent emission norms pertaining to emissions and efficiency from such vehicles are further expanding the segment share over the study timeframe. Improving natural gas infrastructure along with expanded network of fueling stations are further providing a positive outlook for the market penetration.

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North America will register considerable growth in the heavy-duty trucks market owing to the presence of the major manufacturers including Freightliner, Kenworth, International, Peterbilt, Volvo, and Mack. Surging freight demand along with higher costs associated with shipping, and improving disposable income are supporting the increasing adoption of heavy-duty truck market over the forecast timeframe. Increased manufacturing, industrial, and construction activities along with higher prevalence for truck service providers are further expanding the regional share over the projected timeframe.

Logistics segment in the heavy-duty trucks market is expected to register a significant volume share owing to advancements in trucking and logistics technologies including RFID along with smart tagging solutions supporting efficient sorting and optimizing of cargo and materials. Additionally, carrying of cargo and goods over long distance owing to proliferating e-commerce industry are boosting the heavy-duty truck market share over the forecast timeframe. Advancements in supply chain and logistics along with the availability of a wide range of trucks with varied load carrying capacities catering to diversified requirements further expands the segment growth.

Class 8 trucks will dominate the heavy-duty trucks market share owing to the requirement for higher payload capacities and diversified applications including construction and mining activities. Reduction in transportation cost and rising infrastructure and construction projects are positively influencing the industry demand. Rising purchasing power along with proliferating logistics industry are further expanding the segment share over the study timeframe.

Advancements including autonomous driving technologies, tire pressure management systems, driver warning system, and innovative engine advancements are supporting the heavy-duty trucks market growth over the study timeframe.

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Increasing requirements for fuel-efficient vehicles along with stringent regulations pertaining to carbon footprint and emission are supporting the development of highly efficient heavy-duty trucks market growth. Rising preference for trucks offering high payload capacity, reliable heavyweight components, and superior high ground clearance further enhances the appeal of such products for usage in trading and logistics sectors. Additionally, the higher torque to weight ratio makes them ideal for multiple applications in agriculture, construction, and mining activities.

Heavy-Duty Truck Market, By Class

  • Class 5
  • Class 6
  • Class 7
  • Class 8

Heavy-Duty Truck Market, By Fuel

  • Diesel
  • Natural gas
  • Hybrid electric vehicle
  • Gasoline

Heavy-Duty Truck Market, By Application

  • Agriculture
  • Logistics
  • Construction
  • Mining
  • Others

Industry players are involved in advanced testing programs for developing new advanced series of heavy-duty trucks for ensuring improved vehicle performance in diversified road and climatic conditions. The truck is expected to commercialize and begin its sales by 2020. This test and development program are a part of the right-hand drive test program in Australia and New Zealand, thereby offering a positive outlook for the heavy-duty trucks market share over the forecast timeframe.

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Few of the key players in the heavy-duty trucks market place include Volvo Trucks, Daimler AG, Volkswagen AG, Navistar Inc., Paccar Inc., Freightliner, Ashok Leyland, Scania, Kenworth, Eicher and MAN.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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