Global Market Insights, Inc., claims class 8 vehicles to accumulate a considerable portion of the global revenue in heavy-duty trucks market over 2019-2025, pertaining to their enviable ability to sustain heavy loads. Generally deployed for high-power applications such as construction and mining, class 8 vehicles are diesel-powered and have a gross weight vehicle rating of more than 33,000 lbs. Subject to the extensive demand for these beauties, companies have been sparing no expense in R&D activities, to bring forth newer class 8 vehicles endowed with superior features, that would ultimately help augment the sales graph of the overall heavy-duty trucks industry
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. For instance, in 2015, Volvo initiated its ?Non-hit car and truck? research project, that showcased its advanced active safety features including automatic braking and accident prevention technologies.
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North America heavy-duty trucks market will register considerable growth 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 trucks 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.
Most companies spanning across the competitive spectrum of heavy-duty trucks market have lately been concentrating on cost-reduction methodologies. This paradigm shift, it has been observed, is being carried out through the introduction of novel remanufacturing business models that ultimately help to reduce the production expense. One of the pivotal factors responsible for the expansion of heavy-duty trucks market is the robust growth of the automotive domain, especially across the emerging economies.
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. For instance, in June 2018, Freightliner announced the launch of its test and development program in Australia for its new truck model Cascadia. 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. Heavy-duty trucks market participants are involved in new product launches and focusing on R&D investments for developing advanced technologies to gain competitive edge over the competition. For instance, in July 2018, Hino trucks Ltd announced the incorporation of artificial intelligence technologies including GPS and gyro sensors for improving fuel efficiency significantly.
Chapter 4 Heavy Duty Trucks Market, By Class
4.1 Global heavy duty trucks market share by class, 2018 & 2025
4.2 Class 5
4.2.1 Market estimates and forecast, 2013 – 2025, (Thousand Units) (USD Million)
4.2.2 Market estimates and forecast, by region, 2013 – 2025, (Thousand Units) (USD Million)
4.3 Class 6
4.3.1 Market estimates and forecast, 2013 – 2025, (Thousand Units) (USD Million)
4.3.2 Market estimates and forecast, by region, 2013 – 2025, (Thousand Units) (USD Million)
4.4 Class 7
4.4.1 Market estimates and forecast, 2013 – 2025, (Thousand Units) (USD Million)
4.4.2 Market estimates and forecast, by region, 2013 – 2025, (Thousand Units) (USD Million)
4.5 Class 8
4.5.1 Market estimates and forecast, 2013 – 2025, (Thousand Units) (USD Million)
4.5.2 Market estimates and forecast, by region, 2013 – 2025, (Thousand Units) (USD Million)
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