The heavy-duty trucks market has the potential to grow by 474.96 thousand units during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 5.55%.
This heavy-duty trucks market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by GVWR (class 8 and class 7) and geography (APAC, Europe, North America, South America, and MEA). The heavy-duty trucks market report also offers information on several market vendors, including AB Volvo, BYD Co. Ltd., CNH Industrial NV, Daimler AG, Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Scania AB, Tesla Inc., and Volkswagen AG among others.
What will the Heavy-duty Trucks Market Size be in 2021?
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Heavy-duty Trucks Market: Key Drivers and Trends
The increasing demand for heavy-duty trucks in emerging countries is notably driving the heavy-duty trucks market growth, although factors such as high manufacturing costs of heavy-duty trucks may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the heavy-duty trucks industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
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This heavy-duty trucks market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Who are the Major Heavy-duty Trucks Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- AB Volvo
- BYD Co. Ltd.
- CNH Industrial NV
- Daimler AG
- Hino Motors Ltd.
- Navistar International Corp.
- PACCAR Inc.
- Scania AB
- Tesla Inc.
- Volkswagen AG
This statistical study of the heavy-duty trucks market encompasses successful business strategies deployed by the key vendors. The heavy-duty trucks market is concentrated and the vendors are deploying growth strategies such as pricing and marketing strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The heavy-duty trucks market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Heavy-duty Trucks Market?
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58% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for heavy-duty trucks market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rising number of manufacturing plants and the presence of favorable government policies for foreign direct investments (FDIs) will facilitate the heavy-duty trucks market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating GVWR Segments in the Heavy-duty Trucks Market?
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The heavy-duty trucks market share growth by the class 8 segment will be significant during the forecast period. The growth of the class 8 segment is mainly attributed to the growth of industries such as mining and construction globally. The rising demand for heavy-duty trucks in the mining, construction, and logistics industries is anticipated to propel the growth of the global heavy-duty trucks market significantly.
This report provides an accurate prediction of the contribution of all the segments to the growth of the heavy-duty trucks market size and actionable market insights on post COVID-19 impact on each segment.
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Heavy-duty Trucks Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 5.55% |
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Market growth 2021-2025 |
474.96 th units |
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Market structure |
Concentrated |
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YoY growth (%) |
7.82 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 58% |
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Key consumer countries |
China, US, India, Germany, and Brazil |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
AB Volvo, BYD Co. Ltd., CNH Industrial NV, Daimler AG, Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Scania AB, Tesla Inc., and Volkswagen AG |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Factors Covered in this Heavy-duty Trucks Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive heavy-duty trucks market growth during the next five years
- Precise estimation of the heavy-duty trucks market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the heavy-duty trucks industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of heavy-duty trucks market vendors
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