What is Heavy Commercial Vehicles Market?
A heavy commercial vehicle that is constructed or adapted for the carriage of goods and has a maximum gross weight exceeding 7.5 tonnes. It is referred to any truck that is used for commercial purposes. The vehicle is used by businesses for their work or any vehicle that is used to carry commercial goods as well as for helping to provide commercial services.
The market study is being classified, by Application (On-Road and Off-Road) and major geographies with country level break-up.
Daimler AG (Germany), Volvo AB (Sweden), MAN SE (Germany), Scania AB (Sweden), PACCAR Inc (United States), Navistar International Corporation (United States), Iveco S.p.A (Italy), Tata Motor (India) and Mahindra & Mahindra (India) are some of the key players profiled in the study.
Global Heavy Commercial Vehicle is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching Products. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Analyst at AMA have segmented the market study of Global Heavy Commercial Vehicles market by Type, Application and Region.
On the basis of geography, the market of Heavy Commercial Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Usage of Heavy Commercial Vehicle to Transport Heavy Commodities such as Steel Cement, Fertilizers
- Growing Industrialization over the Globe
- End-user Preference to Reduce Air and Noise Pollution
- Negative Impact on Surrounding Traffic due to Operational Characteristics and Physical Specification
- High Cost Associated with the Heavy Commercial Vehicle
- Demand from the Transportation Sector
- Strict Government Regulations on the Heavy Commercial Vehicle
In 2020, Daimler AG has launched India's first electric truck. It could get a first-mover advantage. It was the only company to have launched Bharat Stage 5 (BS-V) trucks in India even though there was no such requirement as manufacturers were asked to jump from BS-IV to BS-VI.
Key Target AudienceHeavy Commercial Vehicle Manufacturers, Heavy Commercial Vehicle Suppliers and Distributors, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others