High Performance Trucks Market, size, share & Forecast

 

Automotive

The High Performance Trucks Market is estimated to grow at a robust CAGR over the forecast period (2020-2027).

The factors driving growth of the High Performance Trucks Market includes growing popularity of electric trucks around the world, increasing use of high performance trucks in construction activities, rising demand for frozen perishable commodities and improvements in the living standards. Moreover, technological advancements in high performance trucks, rise in the launch of new products, expansion of the e-commerce industry, increasing concerns related to environmental pollution and rapid industrialization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic collaborations, and partnerships between enterprises, rising population growth rates and growing disposable incomes, are further contributing towards the market growth.

However, growth of the High Performance Trucks Market is hindered attributed to high manufacturing costs.

The major players operating in the High Performance Trucks Market are Ford Motor, General Motors, FCA, Nissan Corporation, PACCAR Inc., Volvo Corporation, Daimler AG, Scania, MAN, and Toyota Motor, among others.

Based on Transmission Type, the Semi-Automatic Transmission segment is predicted to capture the largest market share during the forecast period

Semi-automatic transmission system enhances fuel efficiency, improves comfort level and are cheaper than automatic transmission system, are some of the factors pushing growth of the segment.

Based on Fuel Type, the LNG segment is projected to expand at a remarkable CAGR over the forecast period

Launch of low emission alternative fuel of engines and rise in Government’s expenditure to build CNG & LNG fuel stations, are propelling segment’s growth.

Based on Region, the North American region is anticipated to capture the highest market share during the forecast period

Government initiatives promoting the adoption of electric trucks, expansion of the construction industry, presence of the leading players such as Ford Motor and General Motors, rapid industrialization, and high disposable income, are the factors supporting the market growth in North America.

 

Key Development

  • In 2019, General Motors decided to invest around USD 150 million in its Flint truck assembly plant to enhance full-size pickup truck production.

 

Market Segmentation

Segmentation by Vehicle Type

  • Medium- & Heavy-Duty Trucks
  • Electric Trucks
  • Pickup Trucks

Segmentation by Power Output

  • 250–400 HP
  • 401–550 HP
  • >550 HP

Segmentation by Application

  • Refrigeration
  • Dumping
  • Special Application
  • Tanker
  • RMC
  • Container
  • Distribution

Segmentation by Fuel Type

  • Diesel
  • CNG
  • LNG

Segmentation by Transmission Type

  • Automatic Transmission
  • Semi-Automatic Transmission
  • Manual Transmission

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

 

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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