Heavy duty trucks market, Class 7 (Between 26,001 Lb and 33,000 Lb), Class 8 (33,001Lb and Higher), is expected to grow at a CAGR of 3.8% by 2027, with a significant demand for fuel efficient products that are more environment friendly, says Absolute Markets Insights

Heavy duty trucks market is expected to grow at a CAGR of 3.8% by 2027 with a significant demand

PUNE, India, Feb. 06, 2019 (GLOBE NEWSWIRE) -- Heavy duty trucks (class 7 and class 8), are of vital use in the logistics industry for transportation of materials and objects. On an overall basis, the industry holds a consumption share of around 54%. Other major industries that make use of these trucks include construction and mining. In the present scenario, the adoption of trucks that are fuel efficient is on a rise and there has been a special focus towards design and development of such trucks by the market players. The overall heavy-duty trucks (class 7 and class 8), sales stood at 1.24 million units in the year 2018, and is expected to surpass 1.57 million units by 2027. During the year 2018, the demand for class 7 heavy duty trucks in the U.S. stood at around 61,300 units. Presently, the Asia Pacific region accounts for more than 43% of the heavy-duty trucks market (class 7 and class 8), revenue followed by North America and Europe.

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“During the next six years, more than half of the heavy duty (class 7 and class 8) trucks demand would be generated from the emerging markets. As far as the developed markets are concerned, adoption of technologically advanced trucks with lower emission levels and the ones that use alternative fuel would rise.”

The detailed research study provides qualitative and quantitative analysis of the heavy duty trucks market (class 7 and class 8). The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue as well as sales volume across regions and further, across all the major countries. The supply side analysis covers regional production volume and capacity analysis. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa and Latin America.

Some of the major players operating in the heavy-duty trucks market are AB Volvo, Daimler Trucks North America LLC (Freightliner), Fiat Chrysler Automobiles, Ford Motor Company, General Motors, Navistar, INC (INTERNATIONAL), Nissan, Paccar Inc. (Kenworth Trucks), Peterbilt, Tata Motors, TOYOTA MOTOR CORPORATION, Volkswagen (TRATON).

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By Class

  • Class 7 (Between 26,001 and 33,000 Lb)
  • Class 8 (33,001Lb and Higher

By Fuel

  • Diesel
  • Natural Gas
  • Hybrid Electric Vehicles
  • Gasoline

By Application

  • Logistics
  • Mining
  • Construction
  • Agriculture

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

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