Heavy Duty Trucks Market in Europe 2015-2019
About Heavy Duty Truck
A truck is used to transport materials and other goods from one place to another. The various categories of trucks include light trucks, medium trucks, and heavy duty trucks. Heavy duty trucks have a GVWR greater than 26,000 lb and are used to perform heavy work such as loading/pick-up and concrete mixer applications used in construction. The fuel economy of heavy trucks in the market has a potential for substantial long-term gains. Also, the economic competitiveness of natural gas will lead to market drift toward natural gas-powered trucks in the near future.
Technavio's analysts forecast the heavy duty truck market in Europe to grow at a CAGR of 4.78% over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the heavy duty truck market in Europe for the period 2015-2019.
Technavio's report, the Heavy Duty Truck Market in Europe, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the European regions; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Countries
Technavio Announces the Publication of its Research Report – Heavy Duty Trucks Market in Europe 2015-2019
Technavio recognizes the following companies as the key players in Heavy Duty Trucks Market in Europe 2015-2019: DAF Trucks, Daimler, MAN, Scania and Volvo Group
Other Prominent Vendors in the market are: Anhui Jianghuai Automobile, Ashok Leyland, Isuzu Motors, Iveco, KAMAZ, PACCAR and Tata Motors
Commenting on the report, an analyst from Technavio’s team said: “Rising competition among the manufacturers of heavy duty trucks, and profit margins, have led OEMs to offer additional value-added services to their existing product offerings. This will not only make their value chains better but will also provide better customer service. Manufacturers are now providing a number of services along with the sales of heavy duty trucks, such as used truck trading, financing and leasing services, contract hire, such as Mercedes-Benz's charter way, fleet management solutions, telematics services, project management, toll management, and many more, to maintain a long-term relationship with their customers.”
According to the report, the fuel economy standards or regulations in Europe are encouraging the production of new trucks in the region. Governments in Europe are in the process of rolling out emission-related norms for heavy duty trucks in addition to passenger vehicles and light commercial vehicles. The European Commission proposed Euro 6 in 2007 to reduce the emission of NOx from trucks by nearly 80% and PM by nearly 66%.
Further, the report states that one of the major challenges is the short lead time for innovation.
DAF Trucks, Daimler, MAN, Scania, Volvo Group, Anhui Jianghuai Automobile, Ashok Leyland, Isuzu Motors, Iveco, KAMAZ, PACCAR, Tata Motors
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