The recently published report titled, “Heavy-Duty Trucks Market: Opportunity Analysis and Future Assessment 2022-2030” in the database of the Reports and Insights be of assistance to a paradigm solution for clearer and greater understanding of the market. It is beneficial in determining the size of the market for particular products. These leading players functioning in this market are in rigorous competition in terms of innovation, technology, product pricing and product development. Moreover, the market study helps in establishing sales prophecies for its products and therefore, creating symmetrical adjustment between demand and supply of its products.
The heavy-duty trucks market is estimated to reach at a value of US$ 378.9 Mn by the end of 2022 and expected to reach at a value of US$ 523.5 Mn by 2030 with a significant CAGR of 4.1%.
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Heavy-Duty Trucks Introduction
Heavy-duty trucks can be perceived as commercial vehicles that are a crucial component of any commercial activities such as agriculture, transportation, construction, and several other functions. Majorly, there are two types of trucks – heavy-duty trucks and light-duty trucks. Each kind of truck is distinct from the other and has a myriad of applications. Consumers can find, compare and pick the trucks as per their requirements. To be specific, a heavy-duty truck typically carries the load by itself, without a trailer.
The heavy-duty truck is heavier in weight and comprise a gross vehicle weight of approximately 15000 kg or more. Notably, the transport sector is progressing at a rapid pace with the new models and state-of-the-art technologies in heavy commercial vehicles. A heavy-duty truck is an ideal preference for heavy materials and goods pickup.
Moreover, the heavy-duty trucks are multi-purpose commercial vehicles and are generally employed in bulk load transportations, mining & construction tippers, long-haul distribution, tractor-trailer for over-dimension cargo movement, close containers, and flat-bed trailers. The soaring customer demand for quality, services, and attributes is rapidly progressing in present times is majorly driving the growth of the global heavy-duty trucks market.
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Heavy-Duty Trucks Market Segmentation
The global heavy-duty trucks market is segmented on the basis of class, application, fuel, tonnage type, horsepower, and region.
By Class
- Class 7
- Axle type
- 4X2
- 6X4
- 6X2
- Class 8
- Axle Type
- 4X2
- 6X4
- 6X2
- Cab Type
- Day Cab
- Sleeper
- Class 9
- Axle Type
- Axle type
By Fuel
- Diesel-Powered
- Natural Gas-Powered
- Hybrid Electric
- Gasoline-Powered
By Tonnage Type
- 10 to 15 metric ton
- More than 15 metric ton
By Horsepower
- Below 300 HP
- 300 – 400 HP
- 400 – 500HP
- Above 500HP
By Application
- Freight & Logistics
- Construction
- Agriculture
- Defence
- Mining
- Other Applications
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Heavy-Duty Trucks Market Key Players
Some of the key participating players in global Heavy-Duty Trucks market are:
Daimler AG
MAN
PACCAR Inc.
Scania AB
AB Volvo
Ashok Leyland
FAW Group Corporation
Isuzu Motors Ltd.
Ford Motor Company
Iveco
Tata Motors
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