Dublin, June 07, 2023 (GLOBE NEWSWIRE) -- The "North America's Top 5 Class 6-8 Truck Manufacturers - Annual Strategy Dossier - 2023 - Strategy Focus & Priorities, Key Strategies & Plans, SWOT, Trends & Growth Opportunities and Market Outlook - Daimler (DTNA), Volvo (VTNA), Traton Group, PACCAR, Nikola Motor" company profile has been added to ResearchAndMarkets.com's offering.
The report provides comprehensive insights & strategic analysis into North America's Top Class 6-8 Trucking Industry OEMs
North American Class 6-8 Truck Market Projected to maintain its Cruising Speed & Growth Momentum in 2023 led by Strong Freight & Construction Activity, Emerging Replacement Demand for Ageing In-Service Fleets and Ongoing Transition towards Electrification amid an Uncertain Global Macroeconomic Environment and Production Capacity Constraints.
The North American Class 6-8 Truck market has been cruising steadily amid strong transport activity marked by high freight volumes as well as rates and robust fleet utilization levels across operators while the demand for trucks and order backlogs have been surging in a predominantly supply side led market scenario.
The industry OEMs have been looking to increase production rates to meet surging demand levels, with the book-to-bill ratios hovering around 1, while battling continued supply chain disruptions & constraints, component shortages, rising input costs and an increasingly uncertain global macroeconomic environment marked by inflationary pressures, rising interest rates & tectonic geopolitical shifts.
The trucking industry's ongoing transition towards de-carbonization, led by the mass production of battery electric & hydrogen fuel cell based trucks, is the overarching theme and is likely to gain further momentum going forward. Most key industry OEMs are now transitioning towards series production of Zero Emission Vehicles (ZEV) while also collaborating amongst each other and with domain specialists for development of the requisite ecosystem for transition towards sustainability.
Additionally, automation, electrification and further evolution of connectivity based service models remain key areas of focus for the truck manufacturers. The industry continues to make steady progress towards transition to sustainable transportation through the development of a range of sustainable technologies geared towards de-carbonization of transportation over long term while continuing the development of innovative services & business models configured on connectivity, digitalization & autonomy.
The efforts have primarily been led by electrification, focused on both battery electric & hybrid technologies, with most industry OEMs transitioning towards series production & commercial deliveries of electric trucks. This is likely to be followed by the mass market production, introduction & adoption of hydrogen powered trucks in the 2030s
The high average age of in-service truck fleets across most markets owing to production capacity constraints over the recent years, rapid energy transition towards de-carbonization and strong construction activity with continued infrastructure investments are likely to collectively provide significant growth opportunities to the industry over near to medium term in form of fleet replacements, expansion & recapitalizations, especially, in a volatile & uncertain crude oil price environment from an economics & policy perspective.
That's despite projections for the slowdown of the world economy over near term owing to market headwinds, the ongoing war in Ukraine and rising inflation levels necessitating a wave of monetary policy tightening by the Fed
Trucking, thus, is projected to maintain its overall cruising speed as well as growth momentum in 2023 across most markets with a year-on-year growth of up to 10% projected for traditional markets, i.e., North American Class 8 and EU30 market for heavy trucks, while the growth rate for emerging markets in Asia, led by China and India, is likely to be around 15%
Report Excerpts:
- Analysis of DTNA's ambitious plan to boost profitability of North American operations to 12% by 2025 while further growing its market share in Class 8
- Traton's plans to substantially grow its presence & market shares in the North American market over medium term riding on Navistar
- Volvo making deeper inroads into the North American market, treating it as a key growth pivot for medium term, with a two-pronged product offensive led by its Volvo & Mack brands and marked by rapid electrification of Class 6-8 truck portfolio and introduction of new truck models
- PACCAR's rapid strides on the technology development pathway with focus on electrification, hydrogen-based propulsion & autonomous technologies powered by industry collaborations
- Navistar's 4.0 Strategy focused on boosting profitability with a EBITDA target of 12% for 2024 while gaining market share through new product offerings and customer segmentation
- Class 6-8 Trucking projected to maintain its cruising speed & overall growth momentum in 2023 with strong market drivers, indicators & fundamentals
Key Topics Covered:
Section 1: Business Snapshot & Overview - North America's Top 5 Class 6-8 Truck Manufacturers
- Founded
- Headquartered
- Business Segments
- Product Portfolio
- Revenue Base
- Market Capitalization
- Key Executives
- Shareholding/Ownership Structure
Section 2: Financial Performance Analysis
- Revenue Base & Growth Trend
- Revenues Split by Key Segments
- Revenues Split by Key Geographic Markets & Regions
- Gross Earnings & Margin Trend
- Operating Earnings & Operating Margin Trend
- Return on Sales Trend
- Profitability Growth Trend
- Cash Flow from Operations
- R&D Expenditure Trend
- CAPEX Trend
- Order Intake & Truck Deliveries Trend
Section 3: Overarching Strategy Focus & Strategic Priorities across Top Industry OEMs
- Daimler Truck North America (DTNA)
- Volvo Truck North America
- Traton Group - Man, Scania, Navistar & VW Truck & Bus
- PACCAR Inc.
- Nikola Motor
Section 4: Key Strategies & Plans for the Industry OEMs - Comprehensive Analysis of Strategies & Plans for the Industry OEMs - Analysis Coverage:-
- Product Portfolio Strategies & Plans
- Market Specific Strategies & Plans
- R&D Strategies & Plans
- Growth Strategies & Plans
- Business and Corporate Strategies & Plans
- Sales & Marketing Strategies & Plans
- Production/Manufacturing Strategies & Plans
- Financial Strategies & Plans
- Acquisitions, Strategic Alliances & JVs
- Other Strategies & Strategic Initiatives
Section 5: SWOT Analysis - On Key Industry OEMs
- Strengths to be Leveraged
- Weaknesses to be worked on
- Opportunities to be capitalized upon
- Threats to be negated & mitigated
Section 6: Key Industry Trends
Section 7: Key Market Trends
Section 8: Key Technology Trends
Section 9: Key Issues, Challenges & Risk Factors
Section 10: North American Class 6-8 Truck Market - Force Field Analysis - Analysis of Driving & Restraining Forces and their Overall Dynamics
- Driving Forces
- Restraining Forces
Section 11: Strategic Market Outlook through 2026
- Analysis of Emerging Market Scenario for the North American Class 6-8 Truck Market
- Demand Outlook - Medium Term
- Growth Projections for the North American Class 6-8 Truck Market through 2026
For more information about this company profile visit https://www.researchandmarkets.com/r/m47xc
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