High-Performance Trucks Market Size, Share, Opportunities, And Trends By Transmission Type (Automatic, Automatic Manual Transmission (AMT), Manual), By Vehicle Type (Conventional Pickup Trucks, Crew-Cab, Sport Trucks), And By Geography - Forecasts From 2024 To 2029

  • Published : Apr 2024
  • Report Code : KSI061616862
  • Pages : 142

The high-performance trucks or super-trucks have high-performance-oriented models with cutting-edge features and specifications that have acceleration and power to rival that of many modern-day supercars. These high-performance trucks have unparalleled off-roading capabilities and are extremely capable rigs, primarily defined by their incredibly powerful engines. The powertrains at the heart of these trucks are immensely powerful, it doesn't matter if they are gas or electric. It enables them to conquer harsh terrain and steep inclines while also delivering some major thrills.

The heavy-duty truck ranges from compact to super-duty sizes and these trucks have a suite of protective elements such as steel bumpers and skid plates. They also boast ample suspension travel with generous amounts of ground clearance. The powertrain of high-performance trucks improves the truck’s acceleration, speed, and overall performance capabilities and its go-anywhere capabilities, which enables it for off-roading as they are specifically designed and engineered for it with features like enhanced suspension travel, wading depths, approach, break-over, departure angles, ground clearance.

INTRODUCTION:

The high-performance truck market is driven majorly by the increasing demand for a powerful engine, better ground clearance, and efficient off-roading experience in trucks for heavy load carrying and commercial purposes. Therefore, constant developments and innovations are being made to make it possible. A rise in demand for heavy-duty trucks for applications like transport, logistics, and construction with better safety features and performance capabilities is also fueling the market growth.

These high-performance trucks have grown in popularity with the rise in demand and sales for commercial vehicles. These vehicles provide efficient logistics and transportation operations for import or export activities in several developing countries and are fueling the market growth for high-performance trucks. The widespread adoption of electric vehicle manufacturing by major vehicle manufacturers and several governments around the globe promoting these electric vehicles (EVs) in the new high-performance vehicles that are manufactured is driving the market growth.

The constant advancement in improving features and specifications for high-performance trucks is also contributing to market growth. For instance, the electrification of commercial vehicles is a major step towards reducing harmful emissions and a sustainable future while providing high-performance and long-range transportation and logistics. The growing industrialization is fueling the market growth as it increases the number of construction projects, and these high-performance trucks are suitable for employment in construction activities.

MARKET DRIVERS:

  • Growth in demand for electric vehicles in high-performance trucks is predicted to propel the market:

The demand for EVs has seen rapid market growth for better speed, eco-friendly, and cost-efficient travel for a sustainable future and reduced emissions in the environment. This is promoted by several governments around the globe and adopted by many major vehicle manufacturers. This, in turn, is increasing the demand for appropriate high-performance electric trucks or commercial vehicles that are suitable for heavy-duty applications like long-range cargo travel and construction which have higher specification requirements for an automobile than a passenger car.

These high-performance electric trucks are more fuel-efficient and cost-efficient as they use batteries instead of combustion fuel which are rising in price constantly. Therefore, the rise in demand for the electrification of high-performance trucks and major manufacturers working on developing it, coupled with governments around the globe investing heavily in enhancing the infrastructure for these EVs, is predicted to propel the high-performance trucks market.

  • The growing infrastructural developments around the globe are projected to drive the high-performance trucks market.

Governments around the globe are investing heavily in developing countries to build more developed infrastructure suitable for the modern day with development under progress. These investments are rapidly increasing the construction projects around the region which, in turn, are raising the demand for suitable high-performance trucks to complete these construction projects more efficiently and fast.

High-performance trucks have high specifications, which are suitable to help develop these construction projects with their high capacity and high power. This rise in construction and industrialization processes has grown the need for logistics and cargo travel around the globe, and these high-performance trucks are a suitable fit to fulfill this demand. Therefore, this growth in demand for construction projects is proportionally growing the demand for high-performance trucks.

  • The constant innovation in the industry is anticipated to propel growth in the market.

The high-performance trucks in the heavy-duty vehicles segment are for heavy-duty activities like off-road long-range travel or heavy cargo logistics. To keep drivers comfortable and increase the efficiency of high-performance trucks, the automobile industry constantly innovates in technology. For instance, an improved powertrain that provides high power, improved ground clearance for smooth long-range travel, and acceleration can rival many modern supercars. Therefore, these advancements in technology are predicted to propel the market growth.

MARKET RESTRAINT:

High-performance trucks are more powerful and have higher specifications than normal passenger vehicles. They, therefore, need a powerful engine and high cargo-carrying capacity, which are very expensive and complex to build compared to normal vehicles. These vehicles are important for logistics and transport purposes and need these high specifications to deliver high performance during heavy-duty activities.

However, the budget constraint to develop these high-performance trucks coupled with growth in fuel prices which makes it more expensive during the commercial logistics operation, and widespread adoption by governments for reduced emission policies are predicted to hinder the high-performance truck market growth over the forecast period.

Prominent growth is projected in the Asia Pacific region.

Asia Pacific region is expected to show major growth in the high-performance trucks market. The rapid growth in the automobile industry in the region, coupled with rising industrialization in developing countries like China and India, is rapidly increasing the demand for high-performance trucks that are necessary for meeting the rising demand for construction projects.

Japan has also shown significant growth in the adoption of electric vehicles in the region with rapidly increasing building of necessary infrastructure needed for electric vehicles and the development of high-performance trucks by major manufacturers like Toyota. Moreover, the well-established mining and construction sector in the region, which includes the use of high-performance trucks, is predicted to boost its market in the region over the forecast period.

Products Offered by Key Companies:

  • Volvo Trucks: Volvo FH Aero Electric is an efficient truck for logistics saves energy and reduces CO2 emissions significantly.
  • Hennessey Performance: Hennessey VelociRaptoR 6×6 uses the 2024 Ford Raptor R and provides off-road excellence and enhanced traction and stability.

Key Developments:

  • In January 2024, Volvo Trucks announced its first-ever truck which is developed only with electric drive and is electric-only truck. It is optimized for cleaner and safer city transport.
  • In December 2023, Hennessey Performance announced the launch of its Supercharged GOLIATH 650 upgrade for their GM’s 6.2-liter V8 trucks which delivers 650 bhp and 658 lb-ft of torque which is a monstrous 55 percent increase in horsepower over stock.

Segmentation:

  • By Transmission Type
    • Automatic
    • Automatic Manual Transmission (AMT)
    • Manual
  • By Vehicle Type
    • Conventional Pickup Trucks
    • Crew-Cab
    • Sport Trucks
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others 
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Others 
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others 
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. HIGH-PERFORMANCE TRUCKS MARKET BY TRANSMISSION TYPE

5.1. Introduction

5.2. Automatic

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Automatic Manual Transmission (AMT)

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Manual

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

6. HIGH-PERFORMANCE TRUCKS MARKET BY VEHICLE TYPE

6.1. Introduction

6.2. Conventional Pickup Trucks

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Crew-Cab

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Sport Trucks

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

7. HIGH-PERFORMANCE TRUCKS MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Transmission Type

7.2.2. By Vehicle Type

7.2.3. By Country

7.2.3.1. United States

7.2.3.1.1. Market Trends and Opportunities

7.2.3.1.2. Growth Prospects

7.2.3.2. Canada

7.2.3.2.1. Market Trends and Opportunities

7.2.3.2.2. Growth Prospects

7.2.3.3. Mexico

7.2.3.3.1. Market Trends and Opportunities

7.2.3.3.2. Growth Prospects

7.3. South America

7.3.1. By Transmission Type

7.3.2. By Vehicle Type

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.1.1. Market Trends and Opportunities

7.3.3.1.2. Growth Prospects

7.3.3.2. Argentina

7.3.3.2.1. Market Trends and Opportunities

7.3.3.2.2. Growth Prospects

7.3.3.3. Others

7.3.3.3.1. Market Trends and Opportunities

7.3.3.3.2. Growth Prospects

7.4. Europe

7.4.1. By Transmission Type

7.4.2. By Vehicle Type

7.4.3. By Country

7.4.3.1. United Kingdom

7.4.3.1.1. Market Trends and Opportunities

7.4.3.1.2. Growth Prospects

7.4.3.2. Germany

7.4.3.2.1. Market Trends and Opportunities

7.4.3.2.2. Growth Prospects

7.4.3.3. France

7.4.3.3.1. Market Trends and Opportunities

7.4.3.3.2. Growth Prospects

7.4.3.4. Italy

7.4.3.4.1. Market Trends and Opportunities

7.4.3.4.2. Growth Prospects

7.4.3.5. Spain

7.4.3.5.1. Market Trends and Opportunities

7.4.3.5.2. Growth Prospects

7.4.3.6. Others

7.4.3.6.1. Market Trends and Opportunities

7.4.3.6.2. Growth Prospects

7.5. Middle East and Africa

7.5.1. By Transmission Type

7.5.2. By Vehicle Type

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.1.1. Market Trends and Opportunities

7.5.3.1.2. Growth Prospects

7.5.3.2. UAE

7.5.3.2.1. Market Trends and Opportunities

7.5.3.2.2. Growth Prospects

7.5.3.3. Others

7.5.3.3.1. Market Trends and Opportunities

7.5.3.3.2. Growth Prospects

7.6. Asia Pacific

7.6.1. By Transmission Type

7.6.2. By Vehicle Type

7.6.3. By Country

7.6.3.1. Japan

7.6.3.1.1. Market Trends and Opportunities

7.6.3.1.2. Growth Prospects

7.6.3.2. China

7.6.3.2.1. Market Trends and Opportunities

7.6.3.2.2. Growth Prospects

7.6.3.3. India

7.6.3.3.1. Market Trends and Opportunities

7.6.3.3.2. Growth Prospects

7.6.3.4. South Korea

7.6.3.4.1. Market Trends and Opportunities

7.6.3.4.2. Growth Prospects

7.6.3.5. Taiwan

7.6.3.5.1. Market Trends and Opportunities

7.6.3.5.2. Growth Prospects

7.6.3.6. Thailand

7.6.3.6.1. Market Trends and Opportunities

7.6.3.6.2. Growth Prospects

7.6.3.7. Indonesia

7.6.3.7.1. Market Trends and Opportunities

7.6.3.7.2. Growth Prospects

7.6.3.8. Others

7.6.3.8.1. Market Trends and Opportunities

7.6.3.8.2. Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. PaxPower

9.2. Volvo Trucks

9.3. Hennessey Performance

9.4. ZF Friedrichshafen AG

9.5. Ricardo Group

9.6. Bharat Benz

9.7. Epiroc

9.8. Hyundai

9.9. The Raymond Corporation

9.10. Mahle


PaxPower

Volvo Trucks

Hennessey Performance

ZF Friedrichshafen AG

Ricardo Group

Bharat Benz

Epiroc

Hyundai

The Raymond Corporation

Mahle