The heavy trucks market consists of sales of heavy trucks and related services by entities (organizations, sole traders and partnerships) that produce complete heavy trucks and vehicles for the purpose of transporting bulk goods. Only goods and services traded between entities or sold to end consumers are included.
The global heavy trucks market is expected to grow from $201.52 billion in 2020 to $221.85 billion in 2021 at a compound annual growth rate (CAGR) of 10.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $330.32 billion in 2025 at a CAGR of 10.5%.
The heavy trucks market covered in this report is segmented by type into class 5; class 6; class 7; class 8.
Growth in the demand for heavy trucks from end-users such as in construction, mining and other sectors is contributing to the growth of heavy trucks manufacturing market. According to executives of leading truck makers, increase in construction activities boosted the sales of tipper trucks, concrete mixers and other heavy vehicles. Also the 2019 annual report from the American Trucking Association indicated that the revenue of the trucking industry was reported to be $796.7 billion in 2018, little more than $700.1 billion in 2017. In June 2019, around 344,000 class 8 trucks were sold in the American market. Increase in demand for heavy trucks from the end users is expected to drive the heavy truck market in the forecast period.
COVID-19 outbreak across the globe has impacted the production and demand for heavy trucks and this is expected to restrain the heavy trucks market during the forecast period. The pandemic has led to restrictive containment measures involving social distancing, remote working, and closures of several manufacturing units in order to contain the disease. Such lockdown norm has led to supply chain disruptions across several industries including heavy trucks manufacturing industries. According to S&P Global Inc., a financial information and analytics company indicated that global sales of heavy duty trucks will decline by 20% to 30% in 2020 due to COVID-19 impact. In 2019, 2.3 million units were sold which declined to 1.7 million units in 2020, further the sales recovery is expected by 10% by 2021. Therefore, COVID-19 outbreak is a major restraining factor which is expected to impact the growth of heavy trucks market negatively.
Vehicles fitted with advanced driver-assistive technologies and safety features are new trends in the heavy trucks market. Advanced driver-assistive technologies include features like Collision Mitigation System (CMS) and a Lane Departure Warning System (LDWS) aiming to reduce road accidents and increase vehicle safety. In 2018, TATA Motors collaborated with WABCO India to provide advanced driver-assistive technologies in their commercial vehicles. TATA Motors became first Original Equipment Manufacturer (OEM) that provided Collision Mitigation System (CMS) and Lane Departure Warning System (LDWS) solutions for trucks. Benefits that are obtained from these technologies include warning of movement of vehicles in poor visibility conditions, avoiding rear-end collisions, recognizing lane marking and helping drivers in staying in road lanes.
In March 2019, Daimler Trucks, a German multinational automotive corporation and manufacturer of heavy and medium trucks, acquired Torc Robotics, pioneer in autonomous driving, to create a technology powerhouse for automated trucks, for an undisclosed amount. The acquisition will help Daimler to jointly develop and test automated trucks with SAE Level 4 intent technology on public roads.
The major players covered in the global heavy trucks market are Volvo Trucks, Daimler, Paccar, Isuzu Motors Ltd, TATA motors, Eicher Motors Ltd, Dongfeng Motor Group Company Ltd, Navistar, Ford Motor Company, Volkswagen, MAN, Dongfeng, FAW, CNHTC, Scania AB, Ashok Leyland, Kenworth, Oshkosh Corporation.
The countries covered in the global heavy trucks market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The regions covered in the global heavy trucks market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The global heavy trucks market is segmented -
1) By Type: Class 5, Class 6, Class 7, Class 8
2) By Fuel: Diesel, Natural Gas, Hybrid Electric, Gasoline
3) By Application: Construction and Mining, Freight and Logistics, Others
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the midibus market include Yangzhou Yaxing Motor Coach Co., Toyota Motor Corporation, Daimler AG, China South Industries Group Corporation, Ashok Leyland Ltd., Isuzu Motors Ltd., BYD Auto Co. Ltd., Hino Motors Ltd., Groupe Renault, AB Volvo.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Midibus Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/midibus-market/download-sample Market DynamicsThe major driver for the market for midibuses is the increasing number of government regulations for conserving the environment and reducing pollution.
The increased investment and research behind the up-gradation of the transportation systems are also in favor of the growth of the midibus market.
Most of the developed countries like the EU are making moves to adopt these vehicles for making significant carbon-free environments.
The COVID-19 outbreak has delayed some of the major development works of these vehicles and their large scale utilization has been pushed back further until a decision is made on the social distancing norms in the post-COVID-19 future.
The global Midibus Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the midibus market include Yangzhou Yaxing Motor Coach Co., Toyota Motor Corporation, Daimler AG, China South Industries Group Corporation, Ashok Leyland Ltd., Isuzu Motors Ltd., BYD Auto Co. Ltd., Hino Motors Ltd., Groupe Renault, AB Volvo.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Midibus Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/midibus-market/download-sampleMarket DynamicsThe major driver for the market for midibuses is the increasing number of government regulations for conserving the environment and reducing pollution.
The increased investment and research behind the up-gradation of the transportation systems are also in favor of the growth of the midibus market.
Most of the developed countries like the EU are making moves to adopt these vehicles for making significant carbon-free environments.
The global Midibus Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the midibus market include Yangzhou Yaxing Motor Coach Co., Toyota Motor Corporation, Daimler AG, China South Industries Group Corporation, Ashok Leyland Ltd., Isuzu Motors Ltd., BYD Auto Co. Ltd., Hino Motors Ltd., Groupe Renault, AB Volvo.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Midibus Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/midibus-market/download-sample Market DynamicsThe major driver for the market for midibuses is the increasing number of government regulations for conserving the environment and reducing pollution.
The increased investment and research behind the up-gradation of the transportation systems are also in favor of the growth of the midibus market.
Most of the developed countries like the EU are making moves to adopt these vehicles for making significant carbon-free environments.
The unrelenting supply-demand friction in the global caustic soda market has reached a nerve-wracking height in the third quarter of 2021 owing to the acute shortage of caustic soda in the downstream industries.
It serves scores of downstream sectors that include soaps and detergents, paper and pulp, alumina, metal processing, mining, and manufacturing of industrial chemicals.The market sentiments at the start of 2021 represented a positive outlook buoyed by the recovering demand post COVID19 pandemic spread in 2020 during which the market had to scrape through the muted demand, declined productions, and disrupted supply-chain networks on the back of lockdown constraints in most regions of the world.
However, the constructive market trends soon turned to ashes as the market fell prey to various obstacles arising in different regions of the world on a trot.The US market tightened following the Ida hurricane that tore through the gulf coast region in late August, 2021, damaging major production units in its wake.
The resurgence of energy demand with colder-than-normal winters setting foot in the region, depleting domestic inventories, and declined import volumes of natural gas (feed to generate electricity) from Russia and Norway are the major factors contributing to the peaking energy shortage.
The energy shortage in Europe has hit the region’s chemical production units including the caustic soda production facilities which are energy-intensive owing to the use of electrochemical production routes.
Hence, the caustic soda market is showing signs of scarcity owing to the planned and unplanned outages in Europe.China, which has also been hit by the jolts of energy shortage amid the rebounding industrial activities, increased energy needs for winters and the February scheduled Beijing Olympics, is experiencing the spillover of the crisis on its chemical industries which includes caustic soda production as well.
