The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Global Medium & Heavy Truck market is valued at around $100 billion, as of 2014, and is projected to grow at 3.1% CAGR through 2024. The global trucking industry is driven by strong fundamentals & has long term, sustainable growth drivers given the key role played by the transportation industry towards economic growth & development globally. The market has been on the recovery path over the recent years while battling a difficult & complex global macroeconomic environment marked by a growing macreconomic divide amongst key global economies as of late with strong economic recovery underway in the U.S. followed by moderate economic growth across China & India while other key emerging markets, namely, Brazil & Russia face strong headwinds & a host of complex economic challenges which is likely to impact overall demand trend across these markets. China is projected to slow down with the pursuit of structural reforms impacting economic growth significantly leading to significant deceleration of growth momentum which is likely to persist through 2016 with the GDP growth forecast for China pegged to slow down to 6.9% in 2016. Brazilian economy continues to be on the rocks contracting through the first three quarters of 2015 with rising unemployment & inflation impacting domestic demand while reducing investments and political deadlock dampen confidence. India, on the contrary, has been pacing up well with respect to economic reforms, deregulation & stronger policy focus on growth being on priority with GDP growth projected to pace up to 7.5% in 2016 with increased focus & allocation towards infrastructure development likely over near term. Russian economy, too, continues to be impacted by the plummeting of oil prices and western sanctions over the Ukraine crisis, which has impacted economic growth severely. The focus, stance & timing of fiscal & monetary policy interventions in the U.S. in 2016, thus, are going to be crucial for the industry & the global economy over near term.
However, the significant projected growth in sales volumes for medium & heavy trucks across emerging markets over the next decade and the rapidly expanding scope of technology evolution & integration are amongst the top trends & drivers which are likely to drive industry growth & spearhead development of new business and service models as well as concepts over the next decade. The sustained low crude oil price environment as of late has been favorable and has boosted utilization and profitability across fleet operators across most traditional markets besides driving maintenance activity and aftermarket sales across industry OEMs. Additionally, OEMs have been focusing significantly on expansion of their technology driven services portfolio aimed at boosting fleet efficiency & productivity for operators which is likely to witness further significant growth over medium term.
Against this backdrop, the report provides comprehensive analysis into the global medium and heavy truck market with the introductory section of the report analyzing Key Market & Technology trends likely to shape the future of trucking. Subsequent sections provide insights into latest market developments, issues & challenges and emerging growth opportunities which could be leveraged by the industry value chain followed by an insightful analysis of market drivers & constraints. The report concludes by analyzing market evolution likely over medium term and projecting demand outlook for medium & heavy trucks over near to medium term.
- The Global Medium & Heavy Truck Market is projected to grow at CAGR 3.1% through 2024.
- Daimler is likely to continue with its leadership of the Global Medium & Heavy Truck Market over the next decade.
- Emerging markets, led by the BRIC block, to constitute a Significant Share of the Global Demand for Medium & Heavy Trucks over the next decade.
- Technology evolution to be a key growth driver over the next decade with unmanned/autonomous truck projects like Daimler’s Future Truck 2025 likely to become a commercial reality.
- Analysis of Other key technology trends - Connected Vehicle Technologies, Alternate Fuels, Material Science Innovations and Aerodynamic Efficiency Enhancement Measures.
- Evolution of new Service Models and Concepts across OEMs leveraging a range of Connected Vehicle Technologies.
Relevance & Usefulness: The report will be useful for:-
- - Inputs for Strategic Planning, Assessment & Decision-Making Processes
- - Identification of & Insights into Potential Growth Opportunities & Avenues
- - Near to Medium Term Market Outlook, Inputs on Market Evolution & Growth Projections
- - Analysis of Emerging Market, Industry specific & Technology Trends
- - Contingency planning for current Strategies & Programs
- - Identifying & highlighting areas for making potential Strategic Changes, Adjustments & Realignment
- - Analysis of Forces Driving as well as restraining the Industry & their overall Dynamics
For Whom: Key Decision-Makers across Industry Value Chain
The report will be essential for those associated with and having interest in the Global Medium & Heavy Truck market. The report will be especially useful for Key Decision-Makers, Top Management of Companies, OEMs, Suppliers, Distributors, Vendors and other Key Players in the Industry Value Chain as well as existing & potential Investors, Industry & Company Analysts, M&A Advisory Firms, Strategy & Management Consulting Firms, PE Firms, Venture Capitalists & all those associated with the industry.
Features, Benefits & Reasons to Procure:-
- -Provides Macro View and Big Picture Quickly
- -Blend of Quantitative & Qualitative Analysis
- -Significant Time Savings
- -Visual Representation enables Easy Comprehension
- -Meetings & Presentation Ready Format
- -Superior & Enriched User Experience with Incorporation of Relevant Images