DUBLIN, Feb. 15, 2018 /PRNewswire/ --
The "High-Performance Trucks Market by Type (Pickup, M&HDV), Power Output (250-400, 401-550, >550 HP), Application (Dumping, Distribution, Refrigeration, Container, Tanker, RMC), Fuel Type, Transmission Type, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The high-performance trucks market is projected to grow at a CAGR of 4.06% from 2017 to 2025, and the market size is expected to grow from 1.8 Million units in 2017 to 2.5 Million units by 2025.
Increasing stringency of emission norms across the globe has forced engine manufacturers to develop low-emission alternative-fuel engines. For instance, leading engine manufacturers such as Cummins and Caterpillar have developed engines for natural gas-powered trucks. The US & European governments are focusing on the deployment of more CNG & LNG fueling stations and promoting the use of alternate fuel-powered commercial vehicles. For instance, according to European Alternative Fuels Observatory (EAFO), LNG stations increased significantly in Europe between 2008 and 2015. The total number of LNG fueling stations in Europe was 33,282 in 2008, which increased by 20.32% from 2008 to 2015. Also, as LNG allows transporters to store more fuel in trucks in a smaller space, the demand for LNG-powered trucks is increasing significantly in long-run applications.
The increasing demand for higher capacity trucks for rigid application such as distribution, waste management is driving the high-performance 250-400 hp trucks market. High-performance trucks with a power output range of 250-400 hp are more useful in city distribution where freight load is not high. The growing organized logistics sector has led to the increased demand for rigid trucks for distribution purposes in Europe and North America. Similarly, large organized retailers such as Wal-Mart (US) and Tesco (UK) are exploring opportunities in emerging countries such as China and India and opening stores or creating buying hubs with the help of local market leaders. As the organized retail market is growing, the demand for distribution trucks is also increasing. This increasing demand for rigid distribution trucks is expected to boost the market for high-performance trucks with a power output of 250-400 hp.
Asia Oceania is estimated to dominate the high-performance trucks market. Factors such as strong economic growth, booming logistics and supply chain sector, stringent emission norms are responsible for the growth of Asia Oceania in the high-performance trucks market. Similarly, to build efficient road connectivity, countries such as India and China are significantly investing in infrastructure facilities. For instance, the Indian government has launched various infrastructure projects such as Sagar Mala Project, Bharat Mala Project, Rashtriya Rajmarg Zila Sanjoyokta Pariyojna Project, and Chardham-Highway Project.
China accounts for the largest share of the Asia Oceania high-performance trucks market owing to the presence of key medium- & heavy-duty OEMs such as BAIC, FAW, CNHTC, Dayun Group, BeiBen Truck, and others.
- Stringent Emission Norms
- Increase in the Supply of Temperature-Sensitive Material Leading to the Demand for Refrigerated High-Performance Trucks
- Growth of Organized Retail Industry
- Increased Demand for Frozen Perishable Commodities
- Significant Infrastructure Growth
- Electric High-Performance Trucks
- Alternative Fuel High-Performance Trucks
- High-Performance Trucks for Special Applications
- Fire Trucks
- Dumping and Container Trucks
- Tanker Trucks
- Shortage of Truck Drivers
- Lifestyle of Truck Drivers
- Intense Competition in the Truck Industry
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Impact Analysis
7 High-Performance Trucks Market, by Vehicle Type
8 High-Performance Trucks Market, by Power Output
9 High-Performance Trucks Market, by Application
10 High-Performance Trucks Market, by Fuel Type
11 High-Performance Trucks Market, by Transmission Type
12 High-Performance Trucks Market, by Region
13 Competitive Landscape
14 Company Profiles
- Allison Transmission
- American Axle
- General Motors
- Product Offering
For more information about this report visit https://www.researchandmarkets.com/research/rg236m/global?w=5
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SOURCE Research and Markets