- The key vendors in the heavy duty trucks market in Europe are DAF Trucks NV., Daimler AG., MAN SE., Scania AB. And Volvo Group
London, 04 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the heavy duty trucks market in Europe 2015-2019. Increased value-added services by OEMs is one of the latest trends emerging in the market. Rising competition among the manufacturers of heavy duty trucks and profit margins, have led OEMs to offer additional value-added services to their existing product offerings, which will make their value chains better and will provide better customer service. The heavy duty trucks market in Europe is expected to grow at a CAGR of 4.78 % during the forecast period 2014-2019.
The fuel economy standards or regulations in Europe are encouraging the production of new trucks in the region, which is a major driver for the market. Governments in Europe are in the process of rolling out emission-related norms for heavy duty trucks in addition to passenger vehicles and light commercial vehicles.
“With the rising manufacturing costs of heavy duty trucks in Europe, the existing players in the market in Europe are shifting their manufacturing operations to countries where they can find labor, raw materials and other facilities at a lower cost,” says Faisal Ghaus, Vice President of Technavio Research.
“China exports a large number of manufactured units of heavy duty trucks to Europe annually. In 2013, several automotive companies in Western Europe also outsourced their manufacturing operations to China to lower their operation cost.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3E%3Cspan%20style%3D%22line-height%3A%201….
