The market for heavy-duty trucks is expected to grow at a CAGR of around 4.3% from 2020 to 2027 and expected to reach the market value of around US$ 549.8 Bn by 2027.
The trucks are divided depending on their weight. Heavy-duty trucks have a gross vehicle weight of 15,000 kg or more including the weight of vehicle and payload. Technically, a vehicle that carries the load by itself, without a trailer is termed as a truck such as certain dump trucks, concrete mixers, and garbage trucks. The fuels used in heavy-duty trucks include diesel fuel, petroleum-based or synthetic lubricants, antifreeze, power steering fluid, and environment-friendly non-fluorocarbon gas. Heavy-duty trucks have evolved slowly in the span of the last 100 years and the evolution is also projected to continue with the same phase in the forecast period. Moreover, heavy-duty trucks are one of the most economical ways to ship a wide variety of raw materials and finished goods via road transport.
Market Dynamics
The growing demand for electric & hybrid heavy-duty trucks along with the increasing freight transportation activities is driving the market growth. The implementation of stringent vehicle emission regulations in Europe and increasing investments for infrastructure development in the Asia Pacific region are accelerating the market value. The high demand for heavy-duty trucks from mining and, the oil & gas sector as well as expanding real estate construction activities in developing economies is propelling the demand for heavy-duty trucks in the global market.
On the other side, the high ownership and maintenance costs associated with heavy-duty trucks is likely to restrict the growth to an extent during the forecast period from 2020 to 2027.
IC Engine segment by propulsion type accounted for the maximum revenue share
By propulsion type, the IC engine segment is leading the global heavy-duty trucks market. Most of the heavy-duty trucks are primarily dependent on the diesel engine is the factor supporting the segmental market value. The easy availability of diesel in developing and underdeveloped economies is supporting the segmental market value. Some of the benefits associated with the diesel engine such as less maintenance, more fuel efficiency, more torque and horsepower, and lower fuel prices are supporting the segmental market value. Diesel engines have fewer moving parts in them than a gasoline engine as well as have a compression-ignition system that is highly efficient.
Asia Pacific is expected to experience fastest growth over the forecast period from 2020 to 2027
Asia Pacific is projected to experience the fastest growth with maximum CAGR (%) over the forecast timeframe from 2020 to 2027. The increasing disposable income coupled with the increasing purchasing power of people is supporting the regional market value. The major economies of the region including Japan, China, and India are majorly contributing to the regional market growth. The increasing construction activities across as the private as well as governmental infrastructure sectors are propelling the regional market value. Additionally, the increasing production of commercial vehicles in the region by the major manufacturers is further bolstering the regional market value.
The players profiled in the report include Ashok Leyland, China National Heavy Duty Truck Group, Daimler AG, Dongfeng Motor Corporation, FAW Group Corporation, Freightliner Trucks, Isuzu Motors Ltd, Kenworth Truck Company, PACCAR, Tata Motors Limited, Traton AG, and Volvo Trucks. The major heavy-duty trucks players were involved in strategic developments for escalating the profit share in regional as well as the global market. The major investments were announced for the technological advancements associated with the changing consumer demand for heavy-duty trucks.
Market Segmentation
Market By Propulsion Type
IC Engine
Hybrid
Electric
Market By Application Type
Freight & Logistics
Construction & Mining
Other Applications
Market By Tonnage Type
10–15 metric ton
Over 15 metric ton
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
CHAPTER 1.Industry Overview of Heavy-Duty Trucks
1.1.Definition and Scope
1.1.1.Definition of Heavy-Duty Trucks
1.1.2.Market Segmentation
1.1.3.Years Considered for the Study
1.1.4.Assumptions and Acronyms Used
1.1.4.1.Market Assumptions and Market Forecast
1.1.4.2.Acronyms Used in Global Heavy-Duty Trucks Market
1.2.Summary
1.2.1.Executive Summary
1.2.2.Heavy-Duty Trucks Market By Propulsion Type
1.2.3.Heavy-Duty Trucks Market By Application Type
1.2.4.Heavy-Duty Trucks Market By Tonnage
1.2.5.Heavy-Duty Trucks Market by Regions
CHAPTER 2.Research Approach
2.1.Methodology
2.1.1.Research Programs
2.1.2.Market Size Estimation
2.1.3.Market Breakdown and Data Triangulation
2.2.Data Source
2.2.1.Secondary Sources
2.2.2.Primary Sources
CHAPTER 3.Market Dynamics And Competition Analysis
3.1.Market Drivers
3.1.1.Driver 1
3.1.2.Driver 2
3.2.Restraints and Challenges
3.2.1.Restrain 1
3.2.2.Restrain 2
3.3.Growth Opportunities
3.3.1.Opportunity 1
3.3.2.Opportunity 2
3.4.Porter’s Five Forces Analysis
3.4.1.Bargaining Power of Suppliers
3.4.2.Bargaining Power of Buyers
3.4.3.Threat of Substitute
3.4.4.Threat of New Entrants
3.4.5.Degree of Competition
3.5.Market Concentration Ratio and Market Maturity Analysis of Heavy-Duty Trucks Market
3.5.1.Go To Market Strategy
3.5.1.1.Introduction
3.5.1.2.Growth
3.5.1.3.Maturity
3.5.1.4.Saturation
3.5.1.5.Possible Development
3.6.Technological Roadmap for Heavy-Duty Trucks Market
3.7.Value Chain Analysis
3.7.1.List of Key Manufacturers
3.7.2.List of Customers
3.7.3.Level of Integration
3.8.Cost Structure Analysis
3.8.1.Price Trend of Key Raw Materials
3.8.2.Raw Material Suppliers
3.8.3.Proportion of Manufacturing Cost Structure
3.8.3.1.Raw Material
3.8.3.2.Labor Cost
3.8.3.3.Manufacturing Expense
3.9.Regulatory Compliance
3.10.Competitive Landscape, 2019
3.10.1.Player Positioning Analysis
3.10.2.Key Strategies Adopted By Leading Players
CHAPTER 4.Manufacturing Plant Analysis
4.1.Manufacturing Plant Location and Establish Date of Major Manufacturers in 2019
4.2.R&D Status and Application Source of Heavy-Duty Trucks Major Manufacturers in 2019
CHAPTER 5.Heavy-Duty Trucks Market By Propulsion Type
5.1.Introduction
5.2.Heavy-Duty Trucks Revenue By Propulsion Type
5.2.1.Heavy-Duty Trucks Revenue (US$ Mn) and Forecast, By Propulsion Type, 2016-2027
5.2.2.IC Engine
5.2.2.1.IC Engine Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.3.Hybrid
5.2.3.1.Hybrid Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
5.2.4.Electric
5.2.4.1.Electric Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 6.Heavy-Duty Trucks Market Revenue By Application Type
6.1.Introduction
6.2.Heavy-Duty Trucks Revenue (US$ Mn) By Application Type
6.2.1.Heavy-Duty Trucks Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
6.2.2.Freight & Logistics
6.2.2.1.Freight & Logistics Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.3.Construction & Mining
6.2.3.1.Construction & Mining Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
6.2.4.Other Applications
6.2.4.1.Other Applications Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
CHAPTER 7.Heavy-Duty Trucks Market By Tonnage
7.1.Introduction
7.2.Heavy-Duty Trucks Revenue (US$ Mn) By Tonnage
7.2.1.Heavy-Duty Trucks Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
7.2.2.10–15 metric ton
7.2.2.1.10–15 metric ton Market Revenue (US$ Mn) and Growth Rate (%), 2016-2027
7.2.3.Over 15 metric ton
7.2.3.1.Over 15 metric ton
CHAPTER 8.North America Heavy-Duty Trucks Market By Country
8.1.North America Heavy-Duty Trucks Overview
8.2.U.S.
8.2.1.U.S. Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016-2027
8.2.2.U.S. Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016-2027
8.2.3.U.S. Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016-2027
8.3.Canada
8.3.1.Canada Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016-2027
8.3.2.Canada Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016-2027
8.3.3.Canada Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016-2027
8.4.North America PEST Analysis
CHAPTER 9.Europe Heavy-Duty Trucks Market By Country
9.1.Europe Bioanalytical Applications Services Market Overview
9.2.U.K.
9.2.1.U.K. Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016-2027
9.2.2.U.K. Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016-2027
9.2.3.U.K. Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016-2027
9.3.Germany
9.3.1.Germany Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016-2027
9.3.2.Germany Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016-2027
9.3.3.Germany Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016-2027
9.4.France
9.4.1.France Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016-2027
9.4.2.France Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016-2027
9.4.3.France Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016-2027
9.5.Spain
9.5.1.Spain Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016-2027
9.5.2.Spain Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016-2027
9.5.3.Spain Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016-2027
9.6.Rest of Europe
9.6.1.Rest of Europe Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016-2027
9.6.2.Rest of Europe Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016-2027
9.6.3.Rest of Europe Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016-2027
9.7.Europe PEST Analysis
CHAPTER 10.Asia Pacific Heavy-Duty Trucks Market By Country
10.1.Asia Pacific Heavy-Duty Trucks Market Overview
10.2.China
10.2.1.China Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
10.2.2.China Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
10.2.3.China Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
10.3.Japan
10.3.1.Japan Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
10.3.2.Japan Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
10.3.3.Japan Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
10.4.India
10.4.1.India Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
10.4.2.India Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
10.4.3.India Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
10.5.Australia
10.5.1.Australia Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
10.5.2.Australia Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
10.5.3.Australia Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
10.6.South Korea
10.6.1.South Korea Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
10.6.2.South Korea Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
10.6.3.South Korea Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
10.7.Rest of Asia-Pacific
10.7.1.Rest of Asia-Pacific Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
10.7.2.Rest of Asia-Pacific Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
10.7.3.Rest of Asia-Pacific Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
10.8.Asia Pacific PEST Analysis
CHAPTER 11.Latin America Heavy-Duty Trucks Market By Country
11.1.Latin America Heavy-Duty Trucks Market Overview
11.2.Brazil
11.2.1.Brazil Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
11.2.2.Brazil Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
11.2.3.Brazil Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
11.3.Mexico
11.3.1.Mexico Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
11.3.2.Mexico Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
11.3.3.Mexico Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
11.4.Rest of Latin America
11.4.1.Rest of Latin America Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
11.4.2.Rest of Latin America Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
CHAPTER 12.Middle East & Africa Heavy-Duty Trucks Market By Country
12.1.Middle East & Africa Heavy-Duty Trucks Market Overview
12.2.Saudi Arabia
12.2.1.Saudi Arabia Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
12.2.2.Saudi Arabia Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
12.2.3.Saudi Arabia Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
12.3.UAE
12.3.1.UAE Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
12.3.2.UAE Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
12.3.3.UAE Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
12.4.Rest of Middle East & Africa
12.4.1.Rest of Middle East & Africa Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Propulsion Type, 2016 - 2027
12.4.2.Rest of Middle East & Africa Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Application Type, 2016 - 2027
12.4.3.Rest of Middle East & Africa Heavy-Duty Trucks Market Revenue (US$ Mn) and Forecast By Tonnage, 2016 - 2027
CHAPTER 13.PLAYER ANALYSIS OF STROKE MANAGEMENT
13.1.Heavy-Duty Trucks Market Company Share Analysis
13.2.Competition Matrix
13.2.1.Competitive Benchmarking of key players by price, presence, market share, and R&D investment
13.2.2.New Product Launches and Product Enhancements
13.2.3.Mergers And Acquisition In Global Heavy-Duty Trucks Market
13.2.4.Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 14.COMPANY PROFILE
14.1.Ashok Leyland
14.1.1.Company Snapshot
14.1.2.Business Overview
14.1.3.Financial Overview
14.1.3.1.Revenue (US$ Mn), 2019
14.1.3.2.Ashok Leyland 2019 Heavy-Duty Trucks Business Regional Distribution
14.1.4.Product/ Service and Specification
14.1.5.Recent Developments & Business Strategy
14.1.6.Manufacturing Plant Footprint Analysis
14.2.China National Heavy Duty Truck Group
14.3.Daimler AG
14.4.Dongfeng Motor Corporation
14.5.FAW Group Corporation
14.6.Freightliner Trucks
14.7.Isuzu Motors Ltd
14.8.Kenworth Truck Company
14.9.PACCAR
14.10.Tata Motors Limited
14.11.Traton AG
14.12.Volvo Trucks
14.13.Others
