Heavy-duty trucks are used to transport heavy loads that cannot be transported by ordinary load carrying capacity trucks. These vehicles are specially designed to carry heavy loads and transport these loads from one place to another. These vehicles are generally employed in urban and suburban areas. Heavy-duty trucks are heavier than medium duty trucks. Their weight ranges between 26001 lbs to over 33000 lbs (11794 kg to over 14969 kg). Heavy-duty trucks comprise a trailer or a goods carrying space and provide easy and safe transportation. Heavy-duty trucks are employed in diverse industries including logistics, construction, and Dump trucks. These trucks save time for the transportation of the goods and materials.
Increase in demand of goods along with increase in construction and development of infrastructure is a major factor driving the demand for heavy-duty trucks. The trucks manufactured presently are more reliable, effective, fuel-efficient, and possess a higher load-carrying capacity, as compared to those of trucks manufactured earlier. The heavy duty trucks available in the market earlier were not very efficient; however, technological enhancements have improved fuel-efficiency, and new technologies enable trucks to haul heavier weight, as compared to vehicles with the same power. Consequently, the world is facing a major issue of heavy load carrying capacity, which can reduce the usage of more vehicles. Heavy-duty trucks are also utilized as garbage or waste collection vehicles.
Furthermore, governments across the globe are taking initiatives to educate people about waste management and recycling. This, in turn, is expected to drive the global market of waste and subsequently, of heavy-duty trucks. India is projected to be a major market for waste or heavy-duty trucks during the forecast period, as government initiatives, such as smart-city and Swachh-Bharat, to create a healthy and clean environment are estimated to offer significant opportunity to the waste or heavy-duty trucks market.
The global heavy-duty trucks market can be segmented based on class type, end-use application, technology, fuel, and region. In terms of class type, the market can be divided into Class 7, Class 8, and Class 9. Based on end-use application, the heavy-duty trucks market can be classified into garbage trucks, concrete transport trucks (cement mixer), dump trucks, refrigerator trucks, mobile cranes, tractor units, log carriers, and tank trucks. Based on technology, the heavy-duty trucks market can be bifurcated into manual and semi-automatic. In terms of fuel, the heavy-duty trucks market can be split into natural gas, hybrid, and electric. Based on region, the global heavy-duty trucks market can be segregated into Asia Pacific, Middle East & Africa, Europe, Latin America, and North America. The heavy-duty trucks market in Asia Pacific is expected to expand at a high growth rate during the forecast period due to large population and expansion of infrastructure and industries in the region.
Key players operating in the global heavy-duty trucks market are Dongfeng Motor Group Company Ltd., Daimler Group, Ford Motor Company, Eicher Motors Limited, Navistar, Paccar, Tata Motors, Scania AB, Volkswagen, Peterbilt Volvo Freightliner, Kenworth, and Oshkosh Corporation.
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- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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