Global Heavy-Duty Truck Manufacturing
The Global Heavy-Duty Truck Manufacturing industry has experienced an eventful five years to 2018, with multiple years of decline. Governments across the globe have been imposing new regulations aimed at reducing truck emissions. When new standards are introduced, truck prices typically increase due to higher research and development costs to make truck emissions compliant. Truck buyers are aware of this trend, and when legislation change is announced, they tend to purchase vehicles in anticipation of rising prices once the new law is implemented. As a result, industry revenue is expected to decrease over the five years to 2018. Over the five years to 2023, production in emerging economies, such as India, is anticipated to climb in line with the growing global economy, which will lead to a rise in global demand for trucks. Additionally, developed economies are expected to trend upward in light of rising trade activity and household expenditure. However, governments will continue to introduce more stringent emissions regulations to make the trucking sector “greener,” which may ultimately affect demand and subdue the industry's growth potential.
Companies in this industry manufacture truck and bus chassis and assemble trucks, buses and other special-purpose heavy-duty motor vehicles for highway use, such as firefighting trucks. The trucks manufactured by this industry are heavy trucks used by freight companies and do not include passenger vehicles.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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