The Business Research Company’s Heavy Trucks Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, September 16, 2021 /EINPresswire.com/ — According to the new market research report ‘Heavy Trucks Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the heavy trucks market is 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%. Increase in demand for heavy trucks from the end users is expected to drive the heavy truck market in the forecast period.
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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.
Trends In The Global Heavy Trucks Market
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.
Global Heavy Trucks Market Segments:
The global heavy trucks market is further segmented based on type, fuel, application and geography.
By Type: Class 5, Class 6, Class 7, Class 8
By Fuel: Diesel, Natural Gas, Hybrid Electric, Gasoline
By Application: Construction and Mining, Freight and Logistics, Others
By Geography: The global heavy trucks market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Heavy Trucks Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides heavy trucks global market overviews, analyzes and forecasts market size and growth for the global heavy trucks market, heavy trucks global market share, heavy trucks global market players, heavy trucks global market segments and geographies, heavy trucks global market’s leading competitors’ revenues, profiles and market shares. The heavy trucks global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Heavy Trucks Market Organizations Covered: 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.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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