Ocean View, DE -- (SBWire) -- 06/17/2020 --Heavy-duty trucks market size is garnering considerable growth worldwide attributing to the surging domestic and international trading activities. Substantial increase in the adoption of heavy-duty trucks for catering the construction and logistics industries has augmented the market demand during 2019-2025.

The competitive landscape of heavy-duty trucks witnesses various industry mammoths investing heavily in the research and development with an intent to manufacture robust engines. In fact, the automotive giant Tesla in 2017 rolled out its electric class 8 Semi Truck featuring advanced technologies, thereby contributing to the industry expansion.

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A paradigm shift towards the adoption of downsized engines in tandem with smart hybrid technologies with an intent to enhance the fuel efficiency have triggered the business growth. As a matter of fact, several industry players are introducing multiple variants of trucks with varied payload capacities and engine configurations to serve a diverse range of customers, eventually proliferating the heavy-duty trucks market size.

Rising purchasing power and trends for large fleet utilization are positively influencing the industry growth. Advent of downsized engines with turbochargers along with increasing adoption of hybrid powertrain are contributing significantly towards improving the demand for such trucks. Optimization of supply chain operations along with consolidation of logistics sector are providing a positive outlook for heavy duty trucks market share over the projected timeframe.

Advancements including autonomous driving technologies, tire pressure management systems, driver warning system, and innovative engine advancements are supporting the heavy-duty trucks market growth over the study timeframe. For instance, in 2015, Volvo initiated its 'Non-hit car and truck' research project, that showcased its advanced active safety features including automatic braking and accident prevention technologies.

Regulatory authorities including the California Air Resources Board (CARB), European Union, the U.S. National Highway Traffic Safety Administration (NHTSA) and the U.S. Environmental Protection Agency (EPA) enact multiple laws and regulations associated with truck emission standards. For instance, the U.S. National Highway Traffic Safety Administration sets standards for fuel economy of heavy-duty truck engines powered by natural gas, diesel, and alternative fuels. Moreover, regulatory bodies are focusing on reducing the dependency on conventional fuels for powering heavy duty trucks, thereby enabling industry players to invest in alternative fuel.

Industry players are involved in advanced testing programs for developing new advanced series of heavy-duty trucks for ensuring improved vehicle performance in diversified road and climatic conditions. For instance, in June 2018, Freightliner announced the launch of its test and development program in Australia for its new truck model Cascadia. The truck is expected to commercialize and begin its sales by 2020. This test and development program are a part of the right-hand drive test program in Australia and New Zealand, thereby offering a positive outlook for the heavy-duty trucks market share over the forecast timeframe.

Logistics is expected to register a significant volume share owing to advancements in trucking and logistics technologies including RFID along with smart tagging solutions supporting efficient sorting and optimizing of cargo and materials. Additionally, carrying of cargo and goods over long distance owing to proliferating e-commerce industry are boosting the market share over the forecast timeframe. Advancements in supply chain and logistics along with the availability of a wide range of trucks with varied load carrying capacities catering to diversified requirements further expands the segment growth.

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North America will register considerable growth in the heavy-duty trucks market owing to the presence of the major manufacturers including Freightliner, Kenworth, International, Peterbilt, Volvo, and Mack. Surging freight demand along with higher costs associated with shipping, and improving disposable income are supporting the increasing adoption of heavy-duty trucks over the forecast timeframe. Increased manufacturing, industrial, and construction activities along with higher prevalence for truck service providers are further expanding the regional share over the projected timeframe.

Few of the key players in the heavy-duty trucks market place include Volvo Trucks, Daimler AG, Volkswagen AG, Navistar Inc., Paccar Inc., Freightliner, Ashok Leyland, Scania, Kenworth, Eicher and MAN.

Table of Contents (ToC) of the report:

Chapter 4 Heavy-Duty Trucks Market, By Class
4.1 Global heavy duty trucks market share by class, 2018 & 2025
4.2 Class 5
4.2.1 Market estimates and forecast, 2013 – 2025, (Thousand Units) (USD Million)
4.2.2 Market estimates and forecast, by region, 2013 – 2025, (Thousand Units) (USD Million)
4.3 Class 6
4.3.1 Market estimates and forecast, 2013 – 2025, (Thousand Units) (USD Million)
4.3.2 Market estimates and forecast, by region, 2013 – 2025, (Thousand Units) (USD Million)
4.4 Class 7
4.4.1 Market estimates and forecast, 2013 – 2025, (Thousand Units) (USD Million)
4.4.2 Market estimates and forecast, by region, 2013 – 2025, (Thousand Units) (USD Million)
4.5 Class 8
4.5.1 Market estimates and forecast, 2013 – 2025, (Thousand Units) (USD Million)
4.5.2 Market estimates and forecast, by region, 2013 – 2025, (Thousand Units) (USD Million)

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