An articulated vehicle has either permanent or semi-permanent pivot joints, which enable the vehicle to take sharp turns. Vehicles having larger length have difficulties while turning, as they have a larger turning radius due to the trailers they carry. Therefore, such long vehicles are unable to operate in areas where space is significantly less. Articulated vehicles utilize a fifth wheel coupling to join two or more completely separate frames of the trailers or tractors and truck. Articulated vehicles are designed to handle a diverse ground conditions as compared to those encountered by rigid type of trucks.
Articulated vehicles reduce the number of wheels by eliminating extra number of driving numbers. This reduces the additional expense over fuel, and hence, articulated vehicles are widely being preferred in the transportation industry. Increased preference for reducing the cost over transportation, enhancing the efficiency of transportation, preference for increasing productivity and reducing operating costs, and increasing trend of higher production per man hour are fueling the demand for advanced solutions such as articulated vehicles. Steerability of articulated vehicles makes them suitable for constrained turning radius, slippery grounds, and narrow roads, which in turn boost the demand for articulated vehicles
A major restraint to the articulated vehicle market is the limited carrying capacity of the trailers and tractors. A truck, tractor, or any other prime mover is designed to operate for a specific load and speed and hence, not every vehicle can be used as an articulated vehicle.
The global articulated truck market can be segmented based on vehicle type, application, autonomy level, and region. In terms of vehicle type, the global articulated vehicle market can be classified into three segments. Articulated trucks are highly popular for road transportation services. Tractors and trucks are being widely utilized for carrying more than one number of trailer, in order to enhance the efficiency of transportation. Rising industrialization, expansion of the construction sector, and increased sea transportation are fueling the demand for trucks and tractors, which in turn is propelling the articulated vehicle market.
In terms of application, the global articulated vehicle market can be divided into four segments. The industrial segment accounts for major share of the market, in terms of revenue, as articulated vehicles are largely being employed to transport industrial goods. The construction industry and off-road applications of articulated vehicles are increasing which is attributed to the cost-effectiveness of articulated vehicles.
Based on autonomy, global articulated vehicle market can be bifurcated into manual vehicles and autonomous vehicles. Automation is trending in the automotive industry. Enhanced vehicle performance, increased vehicle life, and increased safety with automated vehicles are prompting consumers to prefer automated vehicles. However, the manual segment is leading the articulated vehicle market owing to the lower price of manual vehicles.
In terms of region, the global articulated vehicle market can be segmented into five regions. North America accounts for large number of trucks, which are primarily used for its vast construction and agriculture sectors. Increasing transportation cost is fueling the demand for articulated vehicles across North America. Vast mining industry and expanding construction industry across Mexico, Brazil, and Argentina is fueling the demand for articulated trucks across Latin America.
Key players operating in the global articulated vehicle market are Volvo AB, Deere & Company, Caterpillar, Komatsu Ltd, Daimler Trucks North America LLC, Mack Trucks, Navistar, Inc., Peterbilt, and PACCAR Inc
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