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Heavy-Duty Trucks Market Overview

The report is titled as ‘Heavy-Duty Trucks Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Heavy-Duty Trucks market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Heavy-Duty Trucks market is expected to grow with significant rate in the near future.

The heavy-duty trucks market is estimated to reach at a value of US$ 378.9 Bn by the end of 2022 and expected to reach at a value of US$ 523.5 Bn by 2030 with a significant CAGR of 4.1%.

Heavy-Duty Trucks Introduction

Heavy-duty trucks can be perceived as commercial vehicles that are a crucial component of any commercial activities such as agriculture, transportation, construction, and several other functions. Majorly, there are two types of trucks – heavy-duty trucks and light-duty trucks. Each kind of truck is distinct from the other and has a myriad of applications. Consumers can find, compare and pick the trucks as per their requirements. To be specific, a heavy-duty truck typically carries the load by itself, without a trailer.

The heavy-duty truck is heavier in weight and comprise a gross vehicle weight of approximately 15000 kg or more. Notably, the transport sector is progressing at a rapid pace with the new models and state-of-the-art technologies in heavy commercial vehicles. A heavy-duty truck is an ideal preference for heavy materials and goods pickup.

Moreover, the heavy-duty trucks are multi-purpose commercial vehicles and are generally employed in bulk load transportations, mining & construction tippers, long-haul distribution, tractor-trailer for over-dimension cargo movement, close containers, and flat-bed trailers. The soaring customer demand for quality, services, and attributes is rapidly progressing in present times is majorly driving the growth of the global heavy-duty trucks market.

Heavy-Duty Trucks Market Segmentation

The global heavy-duty trucks market is segmented on the basis of class, application, fuel, tonnage type, horsepower, and region.

By Class

Class 7

Axle type

4X2

6X4

6X2

Class 8

Axle Type

4X2

6X4

6X2

Cab Type

Day Cab

Sleeper

Class 9

By Fuel

Diesel-Powered

Natural Gas-Powered

Hybrid Electric

Gasoline-Powered

By Tonnage Type

10 to 15 metric ton

More than 15 metric ton

By Horsepower

Below 300 HP

300 - 400 HP

400 - 500HP

Above 500HP

By Application

Freight & Logistics

Construction

Agriculture

Defence

Mining

Other Applications

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Heavy-Duty Trucks Market Key Players

Some of the key participating players in global Heavy-Duty Trucks market are:

Daimler AG

MAN

PACCAR Inc.

Scania AB

AB Volvo

Ashok Leyland

FAW Group Corporation

Isuzu Motors Ltd.

Ford Motor Company

Iveco

Tata Motors

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Heavy-Duty Trucks

Advantages of Heavy-Duty Trucks

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.

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