What is Specialty Commercial Vehicles?
Specialty Commercial Vehicle is any type of motor vehicle used to transport goods or pay passengers. A specialty commercial vehicle is defined as any self-propelled or towed vehicle used on a public highway in interstate commerce to transport passengers or property. A specialty commercial vehicle is any type of motor vehicle used to transport goods or pay passengers. A commercial motor vehicle is defined as any motorized road vehicle that is designed for and capable of transporting, whether for pay or not, no more than nine people, including the driver, goods, and standard fuel tanks. It refers to the tanks that are permanently attached by the manufacturer to all motor vehicles of the same type as the vehicle in question and allow fuel to be used directly, both for propulsion and, where applicable, to power a refrigeration system. Standard fuel tanks are gas tanks installed in motor vehicles for the direct use of diesel as a fuel.
|Unit||Value (USD Million)|
|Key Companies Profiled||Oshkosh Corporation (United States), REV Group (United States), Alamo Group (United States), Rosenbauer (Austria), ShinMaywa Industries (Japan), Federal Signal (United States), XCMG (China), Royal Terberg Group (Netherlands), Bucher Industries (Switzerland) and Kirchhoff Group (Germany)|
The study covers a detailed analysis segmented by key business segments i.e. by type (Concrete Mixer Truck, Refuse Collection Truck, Street Sweeper and Winter Maintenance Vehicle) , by application (Industrial, Mining & Construction, Logistics, Passenger Transportation and Others) and major geographies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Specialty Commercial Vehicles market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Specialty Commercial Vehicles market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are Oshkosh Corporation (United States), REV Group (United States), Alamo Group (United States), Rosenbauer (Austria), ShinMaywa Industries (Japan), Federal Signal (United States), XCMG (China), Royal Terberg Group (Netherlands), Bucher Industries (Switzerland) and Kirchhoff Group (Germany).
On 13th June 2022, Oshkosh Corporation, a leading innovator of mission-critical vehicles and essential equipment, announced today that it has completed the acquisition of Maxi-Métal Inc. of Saint-Georges de Beauce, Quebec, and Canada. MAXIMETAL is a leader in the design and manufacture of custom fire apparatus and utility vehicles in the Canadian market and will be part of Oshkosh’s Fire & Emergency segment.
Not all commercial vehicles are governed by federal motor carrier safety laws. According to the FMCSA's definition of a CMV, taxicabs, for instance, are exempt from federal restrictions. Similarly, if a vehicle and its operator only engage in intrastate commerce, they will most likely be subject to state and local regulations rather than federal laws.
The specialty vehicles market is fairly fragmented with the presence of multinational players like Daimler, GM Group, Volvo AB, among other manufacturers. The market is witnessing many collaborations in the form of acquisitions, joint ventures, and investments in electric and autonomous driving technology.
Specialty Commercial Vehicles Market Dynamics:
- Growing Adoptions of Specialty Commercial Vehicle
- Rising Need for Commercial Vehicle in the Constructions Industries
- Innovations and Technology Advancement in Specialty Commercial Vehicles
- High Initiative Investment May Hinder Market Pace
|Road Blocks / Challenges|
- Lack of Standardization for development of Specialty Commercial Vehicle
- High Cost associated with Specialty Commercial Vehicle
|Gaps & Opportunities|
- Increasing Demand for Maximizing Commercial Vehicle Efficiency has Created Growth Opportunity
Key highlights of the Global Specialty Commercial Vehicles market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Specialty Commercial Vehicles market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Specialty Commercial Vehicles market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of Specialty Commercial Vehicles Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Specialty Commercial Vehicles market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Specialty Commercial Vehicles market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using 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 New Entrants/Investors, Analysts and Strategic Business Planners, Specialty Commercial Vehicle Manufacturers, Specialty Commercial Vehicle Suppliers & Distributors, Government Bodies, End-Users and Others.
This helps us to gather the data for the 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 include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.