Global Commercial Vehicles (Trucks) Market Overview:
A commercial vehicle (truck) is a kind of motor vehicle that is used for commercial purpose. They carry goods for individual or business profit. A truck is a motor vehicle intended to transport cargo. Trucks vary greatly in power, size, as well as configuration; smaller varieties may be mechanically similar to some automobiles. Commercial trucks can be very large and powerful and may be configured to be mounted with specialized equipment, such as in the case of fire trucks, refuse trucks, concrete mixers, and suction excavators.
- Demand for Commercial Vehicles Increasing Due To High Level of Activity in the Infrastructure Sector
- Greater Availability of Credit and Financing Options
- The Electric Commercial Vehicles are Gaining Popularity
- Co2 Emissions Caused by Non-Electric Vehicles
- The Emerging Demand from Developing Economies
Some of the key players profiled in the report are Isuzu Motors Limited (Japan), PACCAR, Inc. (United States), Navistar, Inc. (United States), Tesla, Inc. (United States), MAN SE (Germany), TATA Motors (India), Daimler AG (Germany), Dongfeng Motor Corporation (China), BYD Motors, Inc. (United States), BAIC Motor Corporation Limited (China) and Hino Motors, Ltd. (Japan). Additionally, following companies can also be profiled that are part of our coverage like Volvo Group (Sweden), Scania (Sweden), Ashok Leyland (India) and VECV (India). Analyst at AdvanceMarketAnalytics see United States, German, and Chinese Vendors to retain maximum share of Global Commercial Vehicles (Trucks) market by 2024. Considering Market by , the sub-segment i.e. will boost the Commercial Vehicles (Trucks) market.
On 17 June 2019, Navistar, a leading maker of commercial trucks and buses, has decided to make capital investments of approximately 125 million USD in new and expanded manufacturing facilities in the state of Alabama. The investment will bring 145 additional jobs to the company's Huntsville facility. and On 17 Jan 2019, Dongfeng Trucks’ new generation of heavy-duty and medium-duty trucks has been launched in Wuhan, China. Dongfeng KL and Dongfeng KR are brand new truck platforms carefully designed for its customers through five years of R&D development.
On 23 April 2018, Isuzu has launched a Newly Engineered Lightweight Truck in an Emerging Market-Sales Starts from Indonesia.
In the United States, if a vehicle has a GVWR of more than 10,001 pounds and is used for a business, including nonprofits, then it is subject to federal and state safety regulations for the safe operation of commercial motor vehicles. Vehicles over this weight are required to stop at state weigh and inspection stations, and drivers must follow regulations concerning hours of service and medical examinations.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Commercial Vehicles (Trucks) market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Commercial Vehicles (Trucks) market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Commercial Vehicles (Trucks) Manufacturers, Commercial Vehicles (Trucks) Sub Component Manufacturers, Original Equipment Manufactures, Commercial Vehicles Traders/Distributors, Regulatory & Government Bodies, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.