Factors such as increasing demand for heavy-duty trucks in emerging countries and the growing demand for heavy-duty trucks from truck rental service providers will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The heavy-duty trucks market is concentrated, and the degree of concentration will decelerate during the forecast period.
The report covers the following areas:
Heavy-duty Trucks Market 2021-2025: Segmentation
- GVWR
- Geography
- APAC
- Europe
- North America
- South America
- MEA
The class 8 segment generated maximum revenue in the market in 2020. The market growth in the segment is expected to be significant during the forecast period. The growth of the segment is mainly driven by the mining and construction industries worldwide. By region, the market will witness maximum growth in APAC during the forecast period. Factors such as high demand for heavy duty trucks from construction sector, expanding population, and increasing economic activities in emerging countries are driving the growth of the heavy-duty trucks market in APAC during the forecast period.
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Heavy-duty Trucks Market 2021-2025: Vendor Analysis and Scope
To help businesses improve their market position, the heavy-duty trucks market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include 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.
The heavy-duty trucks market is concentrated, and the degree of concentration will decelerate. The increasing demand for heavy-duty trucks in emerging countries will offer immense growth opportunities. However, the high manufacturing costs of heavy-duty trucks will hamper the market growth.
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Heavy-duty Trucks Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist heavy-duty trucks market growth during the next five years
- Estimation of the heavy-duty trucks market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the heavy-duty trucks market
- 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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Heavy-duty Trucks Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Decelerate at a CAGR of almost 6% |
Market growth 2021-2025 |
474.96 thousand units |
Market structure |
Concentrated |
YoY growth (%) |
7.82 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 58% |
Key consumer countries |
China, US, India, Germany, and Brazil |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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. |
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. |
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. |
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