The global truck market is projected to grow at a CAGR of 2.37% to reach US$67.125 billion in 2024 from US$58.315 billion in 2018. Trucks are motor vehicles that are employed for logistical services, in various industries such as construction, agriculture, mining, oil and gas, etc. The global truck market is segmented on the basis of transmission type, engine type as well as geography. The truck market has three types of subsets under the transmission type automatic, semi-automatic, and manual transmission. With technological advancements and R&D investments as well as rapid urbanization of previously low-income sections of society, these reasons can be considered as drivers in the truck industry. Geographically the Asia Pacific region is estimated to have a high market growth for the Truck market due to the rise in disposable income as well as rapid urbanization of previously low-income sections along with increasing investment in infrastructure as well as logistical services in the regions. The market share of North America is expected to mature due to the early adoption of trucks in the region.
Increasing R&D investment in the truck industry
Rapid global urbanization
Growing logistical services
Rising global interest rates will hinder the growth of the global truck industry
In July 2018, Embark, an autonomous truck manufacturing company received $30 million in series B funding led by Sequoia Capital.
Major industry players profiled as part of the report are Daimler Group, TATA Motors Limited, Volvo Group, Dongfeng Motor, Volkswagen Group, Navistar International Corp, Iveco, Isuzu Motors Ltd., Embark, and PACCAR Inc. among others.
The global truck market has been analyzed through the following segments:
By Transmission Type
By Engine Type
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the truck market size by 2024?
A1. The global truck market is projected to reach a market size of US$67.125 billion in 2024.
Q2. What is the size of the global truck market?
A2. Truck Market was valued at US$58.315 billion in 2019.
Q3. What are the growth prospects for the truck market?
A3. The truck market is projected to grow at a CAGR of 2.37% over the forecast period.
Q4. Which region holds the maximum market share of the truck market?
A4. Geographically the Asia Pacific region is estimated to have a high market growth for the truck market due to the rise in disposable income as well as rapid urbanization.
Q5. What factors are anticipated to drive the truck market growth?
A5. With technological advancements and R&D investments as well as rapid urbanization of previously low-income sections of society, these reasons can be considered as drivers in the truck industry.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. TRUCK MARKET BY TRANSMISSION TYPE
6. TRUCK MARKET BY ENGINE TYPE
7. TRUCK MARKET BY GEOGRAPHY
7.1. North America
7.2. South America
7.3.3. United Kingdom
7.4. Middle East and Africa
7.4.1. Saudi Arabia
7.5. Asia Pacific
7.5.3. South Korea
8. COMPETITIVE INTELLIGENCE
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investments and Deals
8.3. Strategies of Key Players
9. COMPANY PROFILES
9.1. Daimler Group
9.2. TATA Motors Limited
9.3. Volvo Group
9.4. Dongfeng Motor
9.5. Volkswagen Group
9.6. Navistar International Corp
9.7. Iveco, Isuzu Motors Ltd.
9.9. PACCAR Inc
9.10. Hino Motors, Ltd
LIST OF FIGURES
LIST OF TABLES
TATA Motors Limited
Navistar International Corp
Iveco, Isuzu Motors Ltd.
Hino Motors, Ltd
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