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In the automotive industry, special purpose vehicles are primarily manufactured to perform specific tasks. Consequently, these vehicles are equipped with special equipment to be driven by own engine or separately mounted engine. Most times, special purpose vehicles are heavy duty vehicles, such as dump trucks and tank trucks. However, special purpose vehicles also consist of dump trucks, concrete pumps, along with pneumatic bulk carriers, and tank trailers. These vehicles are utilized in various industries including chemical, petroleum, and construction.

Special purpose vehicles are mostly employed in the construction and logistic sectors as well as garbage collection vehicles. Expansion of the construction industry in countries, such as China and India, owing to active participation from the private sector, is anticipated to boost the special purpose vehicle market during the forecast period. Expansion of the logistic sector is anticipated to fuel the demand for special purpose pneumatic bulk carriers and tank trailers, which in turn is projected to boost the special purpose vehicle market.

The special purpose vehicle market can be segmented based on application, end-use industry, and region. Based on application, the special purpose vehicle market can be classified into concrete pumps, dump trucks, bulk carriers, and others. Requirement of precise machinery and demand for highly technical machinery in the construction sector is anticipated to boost the demand for concrete pumps. Similarly, rising demand for special dump trucks for activities such as garbage collection and construction activities and others likely to grow special purpose vehicle market.  

Based on end-use industry, the special purpose vehicle market can be divided into chemical, logistic, construction, and others. Construction industry is likely to play crucial role in the special purpose vehicle market. Expansion of the construction industry, due to rapid urbanization, government investments in construction projects, and considerable involvement of the private sector in construction, is anticipated to drive the special purpose vehicle market during the forecast period. However, the logistic industry is also expanding significantly due to expansion of the e-commerce industry across the globe. Rise in utilization of pneumatic bulk carriers and tank trailers in the logistics sector is expected to drive the special purpose vehicle market during the forecast period. Petroleum and chemical companies also employ special purpose tankers to carry inflammable fluids and oil.

In terms of region, the special purpose vehicle market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The construction industry is China is expanding rapidly and was valued at US$ 816.6 Bn in 2017. Expansion of construction companies and active participation from the private sector drive the construction industry in the country. Similarly, in India, the construction industry includes real-estate and urban development segments. Government bodies and the private sector are likely to spend US$ 454.8 Bn on construction projects between 2015 and 2020, of which 70% of funds are likely to be invested in power, roads, and urban infrastructure. Furthermore, expansion of logistics and warehouse industries, due to the presence of prominent automobile and e-commerce sectors, is anticipated to boost the demand for special purpose vehicles during the forecast period.

Key players operating in the special purpose vehicle market are Kyokuto Kaihatsu Kogyo Co., Ltd, Nandan GSE, Hi-Tech Services, and Seamless Autotech Pvt. ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

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
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

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?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Special Purpose Vehicle Market

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