Heavy Trucks Market Influenced by Soaring Worldwide Reliance on Large-scale Heavy-duty Vehicles Across Industries

Rapid industrialisation worldwide, especially across the developing nations, remains a predominant factor pushing demand for heavy trucks for large-scale material transportation and distribution. Unprecedented growth of building and construction, transportation and logistics, mining and infrastructure, and e-commerce industries warrants growing reliance on heavy-duty vehicles like trucks with cargo-carrying capacities. A recent upcoming study in the repository of Fairfield Market Research also suggests that the developments in supply chain and logistics will significantly contribute toward the growth of global heavy trucks market.

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Demand for Electric and Hybrid Electric Heavy Trucks Sees an Uptick

The global e-mobility drive has been influencing the dynamics of both passenger as well as commercial automobiles. While this scenario has shifted the focus of OEMs toward hybrid commercial vehicles that ensure reduced emission to eventually contribute to shun air pollution. Several brands have brought in multiple models of electric and hybrid electric heavy trucks to the market, which have been garnering ground over the recent past. Surging adoption of fully and hybrid electric heavy trucks, and other commercial vehicles for a range of daily operations holds the promise to uplift prospects of heavy trucks market in future.

Auto Industry Mega Trends Continue to Influence Dynamics of Heavy Truck Fleets

Advent of technology has been disrupting every industry worldwide and the automotive heavy-duty vehicles sector also remains influenced by the same. Over the recent past, new logistics, electrification, autonomous and digitalization (LEAD) has been a revolutionising trend for the entire automotive industry and is poised to bring a radical development especially in the heavy trucks segment. Rapid progress of the logistics industry is also projected to hold a major impact on the growth of heavy truck fleets. The next innovation anticipated in the light of expanse of automation, and digitalisation is the driverless heavy truck. This and more such trend waves in industry are likely to offer a strong impetus to global heavy trucks market in future.

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Asia Pacific to Remain an Epicentre of Opportunities in Heavy Trucks Market

Attributing to solid auto manufacturing and registration rates, Asian subcontinent will continue to represent the most lucrative market for manufacturers of heavy trucks, as well as other heavy commercial vehicles. Favourable business environment, i.e., cheaper labour availability, and ample raw material further strengthen the breeding ground for the key end-use industries like building and construction, and logistics and transportation, further complementing the growth of heavy trucks market. Opportunities are thus likely to spring up in Asia's heavy duty operations segment. Industrialisation, and infrastructural developments in key nations of Asia Pacific have been instrumental in driving the heavy trucks market growth.

Heavy Trucks Market - Key Competitors
Some of the major players that would be subject to detailed financial and strategic profiling in the heavy trucks market report, include Daimler AG, Tata Motors, Volvo Trucks, Isuzu Motors Ltd., Eicher Motors Limited, and Ashok Leyland.

Global Heavy Trucks Market is Segmented as Below:

By Class
• Class 7
o Axle type
 4X2
 6X4
 6X2
• Class 8
o Axle Type
 4X2
 6X4
 6X2
o Cab Type
 Day Cab
 Sleeper

By Fuel Type
• Diesel
• Natural Gas
• Hybrid Electric and Fully Electric
• Gasoline

By Horsepower
• Below 300 HP
• 300 - 400 HP
• 400 - 500HP
• Above 500HP

By End Use Industry
• Construction
• Mining
• Freight and Logistics
• Others

By Region
• NORTH AMERICA
• EUROPE
• ASIA-PACIFIC
• LAMEA

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