Global Mini Truck Market 2018-2022
About Mini Truck
Mini trucks are mainly classified as commercial trucks having a gross vehicle weight of up to 3.5 tons
Technavio’s analysts forecast the global mini truck market to grow at a CAGR of 1.20% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global mini truck market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Mini Truck Market 2018-2022
Technavio recognizes the following companies as the key players in the global mini truck market: Ashok Leyland, Dongfeng Motor, Honda Motor, NISSAN MOTOR, Tata Motors, and Wuling Motor.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of electric and hybrid mini trucks. The mini truck manufacturers are investing heavily in the development of electric mini trucks owing to the government motivation and rising need for eco-friendly mobility. The demand for the electric mini truck is increasing as they are economical in terms of operational costs as compared with diesel or gasoline-electric trucks.”
According to the report, one driver in the market is mini truck pooling and renting. Small-scale businesses use mini trucks for cargo transport in urban areas. The requirement of mini trucks depends on the amount of cargo that is required to be transported. In the recent times, it has been observed that software developing companies and vehicle rental companies are working in collaboration and developing applications that can register mini utility truck with each owner through a mobile application.
Further, the report states that one challenge in the market is limited features of mini trucks. Mini trucks are generally made to target the cost-sensitive markets of emerging countries like India, China, Vietnam, Indonesia, and Thailand. The buyers of commercial vehicles in these countries generally look for cost-effective vehicles with limited maintenance and increased storage space for transporting loads.
Ashok Leyland, Dongfeng Motor, Honda Motor, NISSAN MOTOR, Tata Motors, and Wuling Motor.
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