The high performance truck market is growing at a slow pace mainly due to flat market in matured markets like EMEA and the Americas due to stagnant economic growth leading to low investment in construction and mining activities. Technavios market research analysts estimate the market to reach over 4 million in unit sales during the forecast period.
Strict emission norms is forcing the OEMs to adopt advance fuel efficient technologies such as AMT, usage of lightweight materials, engine downsizing and alternative powertrain which has led to increased cost of production of high performance trucks, This incremental cost is pushed upon the consumer which has expected to have a negative impact on the market.
However, the growth of high performance trucks is observed in the APAC region, especially in countries such as India, Indonesia, Thailand, China, and Malaysia. The increasing demand for infrastructure and growing economy in these countries will stimulate demand for high performance trucks in the forecast period.
Market landscape for the global high performance truck market
The major utility of high performance trucks is goods transportation across cities and in construction or mining activities. Road transport plays a vital role in a countries economy as it is the link between ports and cities, and high performance trucks are used to transport goods in a quick and efficiently across a country. Enhanced performance and driver comfort and safety in high performance trucks are the key trends observed in high performance truck market.
The report covers the present scenario and the growth prospects of the global high performance trucks market for the period 2015-2019. The research report calculates its market size on the basis total production units of high performance trucks considering class-7 and class-8 trucks. The geographical segmentation is done on the basis of production of high performance rucks, with key regions as APAC, Americas and EMEA.
Increased global competition a key challenge to the market
Strict environmental legislations, rising fuel prices and saturated markets have flattened the overall demand for high performance trucks. Global OEMs are shifting operation to emerging markets specially in BRIC countries and OEMs of these regions with their low cost manufacturing are increasing exports to other emerging nations, thus creating immense competition in the market.
For instance, Daimler is manufacturing trucks in India under the brand name Bharat Benz, and Volvo has entered Indian market with Eicher trucks and busses and in China Volvo is operating with a joint venture with Dongfeng commercial vehicles.
Leading vendors analyzed in this report
Paccar Daimler Trucks Caterpillar Volvo Trucks MAN Other prominent vendors of this market include Ashok Leyland, Scania AB, Isuzu, TATA, Iveco, and China FAW.
Key questions answered in the report
What are the key factors driving the global high performance truck market What are the key market trends impacting the growth of the global high performance truck market What are the various opportunities and threats faced by the vendors in the global high performance truck market Trending factors influencing the market shares for EMEA, APAC, and Americas
Key outcome of the five forces analysis on the global high performance truck market Growth forecast of the global high performance truck market until 2019 Technavio also offers customization on reports based on specific client requirement.
Technavio Announces the Publication of its Research Report – Global High Performance Truck 2015-2019
Technavio recognizes the following companies as the key players in the Global High Performance Truck: Paccar, Daimler Trucks, Caterpillar, Volvo Trucks and MAN
Other Prominent Vendors in the market are: Ashok Leyland, Scania AB, Isuzu, TATA, Iveco, and China FAW.
Commenting on the report, an analyst from Technavio’s team said: “AMT is based on an electronic unit that supervises the use of the clutch and gear shifting; it makes the shift better and chooses gears wisely. Though manual transmission is widely accepted in high performance trucks, AMT is steadily growing in the market with its advantage of fuel economy, which is an important reason for the increasing adoption of AMTs in high performance trucks.”
According to the report, the varying market conditions, strict norms on emissions, and rising fuel prices are affecting the high performance truck market in triad countries, whereas in emerging countries like China and India the market has been experiencing growth, with increasing investment in infrastructure, economic expansion, and increasing transport volumes.
Further, the report states that the market is currently facing a considerable amount of challenges, including strict emission standards, increasing cost of ownership for consumers, which is affecting consumer buying behavior, and also that the truck industry is globalizing, which is exposing the industry to severe competition.
Paccar, Daimler Trucks, Caterpillar, Volvo Trucks, MAN, Ashok Leyland, Scania AB, Isuzu, TATA, Iveco, and China FAW.