The market research reports outlies the market size and forecast for high performance trucks until 2019. The research report details the segmentation by class-7 and class-98. It provides the market shares for APAC, Americas, and EMEA. The leading vendors analyzed are Paccar, Daimler Trucks, Caterpillar, Volvo Trucks, and MAN.
Technavio’s market research analysts estimate the global high performance truck market to grow at a CAGR of around 2% between 2015 and 2019. The major application of high performance trucks is goods transportation across cities and in construction or mining activities. APAC leads the global market for high performance trucks, accounting for 73% of the total market share. Mucvh of this region’s growth comes from the increasing demand in India and Indonesia, and increasing exports of Chinese trucks to matured markets.
The new market research report from Technavio provides a breakdown and analysis of the high performance trucks segments by technology.
“Strict emission norms is forcing the OEMs to adopt advance fuel efficient technologies such as AMT, usage of lightweight materials, engine downsizing and alternative powertrain which has led to increased cost of production of high performance trucks. This incremental cost is pushed upon the consumer which has expected to have a negative impact on the market,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
Strict environmental legislations, rising fuel prices and saturated markets have flattened the overall demand for high performance trucks. Global OEMs are shifting operation to emerging markets specially in BRIC countries and OEMs of these regions with their low cost manufacturing are increasing exports to other emerging nations, thus creating immense competition in the market. For instance, Daimler is manufacturing trucks in India under the brand name Bharat Benz, and Volvo has entered Indian market with Eicher trucks and busses and in China Volvo is operating with a joint venture with Dongfeng commercial vehicles.
The key players in the global high performance truck market include Paccar, Daimler Trucks, Caterpillar, Volvo Trucks, and MAN. Intense competition prevails in the market, owing to increasing globalization of high performance truck manufacturers and investment in technology to reduce cost and enhance performance. Currently, the market vendors are focusing more on emerging countries especially BRIC nations to extend their product offerings.
A more detailed analysis is available in the Technavio report, Global High Performance Truck Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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