North American Class 6-8 Truck Market - 2019-2024 - Market Dynamics, Competitive Landscape, OEM Strategies & Plans, Trends & Growth Opportunities, Market Outlook - Daimler, Volvo, PACCAR, Navistar
The North American Class 6-8 truck market continues to cruise smoothly propelled by a strong & favorable macroeconomic environment in the U.S. marked by a strong uptick in freight demand as well as rates in a favorable crude oil price environment boosting fleet utilization as well as profitability across operators giving a boost to fleet renewals. The trucking industry is on the cusp of a technology led transformation phase marked by confounding uncertainties and disruptions with the electrification of trucks almost nearing the inflection point. The focus on CASE (Connected, Autonomous, Shared & Services and Electric) technologies continues to be at the core of this transformation with OEMs continuing to integrate an array of sensors, equipment & technologies on-board trucks which is likely to lead to the evolution of a number of new business models & concepts. The battle for electric trucks is getting fierce with almost all leading industry OEMs joining the fray with plans to foray into electric trucks segment as they face a significant challenge from start-ups and new industry entrants. These electric trucks are likely to be commercially produced & hit the market at the turn of the decade with the same likely to bring in tectonic shifts to the traditional trucking landscape & market dynamics forever.
The current phase of trucking industry’s development and its likely evolution over medium term quintessentially is going to be defined and shaped by technology which has been rapidly evolving and is poised to disrupt markets at a lightning pace. The industry OEMs & players; which are able to adopt, invest in & incorporate right technologies for right applications to deliver overall value to customers, end users & stakeholders while creating significant competitive advantages for themselves, by leveraging this technology led differentiation; will be at the forefront of the one of the most disruptive phases for the industry going forward which is likely to be marked by the introduction of a number of technology enabled entirely new business models, concepts & solutions.
The report analyzes as to how the industry OEMs are positioned and are gearing up for the highly dynamic & rapidly evolving trucking landscape based on a comprehensive analysis of their strategies & plans. The report analyzes the North American Class 6-8 truck market in a unique, 3 tiered methodology with the initial sections focusing on market size & competitive landscape followed by the middle sections focused on in-depth analysis of the OEMs with strategy as the core pivot. The last section focuses on analyzing key trends, issues & challenges likely to shape the future, outlining potential growth opportunities & projecting market outlook as well as demand growth projections for the near to medium horizon.
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