Seattle, WA -- (SBWIRE) -- 12/19/2019 -- Global Articulated Trucks Market
An articulated truck has a permanent or semi-permanent pivot joint in its construction, which enables it to turn more sharply. Articulated trucks find application in various sectors such as construction, mining, agriculture, forestry, and defense and military. Major companies offer articulated trucks with bare chassis and three axle articulated trucks.

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Increasing building and construction activities are expected to boost growth of the global articulated trucks market over the forecast period. For instance, according to India Brand Equity Foundation, India is expected to become the third largest construction market in the world by 2025 with addition of 11.5 million homes a year. Moreover, increasing infrastructure refurbishment activities such as demolition of the existing structures is also expected to aid in growth of the market.

Increasing number of new building projects worldwide is expected to propel growth of the global articulated trucks market. For instance, in December 2019, Hines, a U.S.-based realty firm, announced plans to invest US$ 500 million in India to develop new commercial and housing projects. Moreover, increasing demand for articulated trucks from the mining industry for the transportation of heavy wastes & materials is also expected to boost growth of the market.

The markets in North America and Europe are driven by increasing recycling activities in the regions. For instance, in December 2019, major companies in the packaging value chain such as energy company Total, plastic recycling technology provider Recycling Technologies, Nestlé, and Mars partnered to support the goals of the France-based environmental non-governmental organization Citeo to develop chemical plastic recycling in France.

However, absence of trained drivers to operate the vehicles at complex sites is a major factor hindering growth of the global articulated trucks market. Moreover, high initial and maintenance cost is also expected to negatively impact the market growth.

Increasing government investment in the residential construction sector is expected to offer lucrative growth opportunities for players in the global articulated trucks market. For instance, Under the Housing First plan, the government of France is investing US$ 4.46 billion to build 40,000 affordable housing units per year across the country until 2023.

Key players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in November 2019, Terex Trucks signed dealership partnership with Griset Materiel for commercialization of Terex Trucks' articulated haulers – the TA300 and TA400.

Key Takeaways
- Increasing building and construction activities to augment growth of the global articulated trucks market over the forecast period
- However, absence of trained drivers to operate the vehicles at complex sites is a major factor hindering growth of the market
- Major players operating in the global articulated trucks market include, Caterpillar, Komatsu, John Deere, Volvo AB, Terex Corporation, Doosan Corporation, Bell Trucks America, Inc., The Liebherr Group, and Hydrema Holding APS

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