Global Truck Market Size to Grow at CAGR 7% till 2022
Rapidly growing logistics sector, along with expanding
construction and infrastructure sector is expected to propel demand for trucks
across the globe through 2022
According to TechSci Research report, “Global Truck Market By
Application, By Tonnage Capacity, By Fuel Type, By Region, Competition Forecast
& Opportunities, 2012 –2022”, the global truck market is projected to grow
at CAGR 7% by 2022. Backed by growing number of infrastructure projects and
rising demand from logistics sector across the globe, the demand for trucks is
anticipated to surge during the forecast period. Furthermore, continuous improvements
in road infrastructure is further likely to push demand for trucks through 2022
across developed as well as developing regions. Few of the major players
operating in the global truck market include Daimler AG, AB Volvo, Isuzu Motors
Ltd., Hyundai Motor Company, Scania AB, MAN Truck & Bus, Hino Motors, Tata
Motors Limited, Ashok Leyland Limited, and Dongfeng Motor Corporation.
Browse 37 market
data Tables and 284 Figures spread through 446 Pages and an in-depth TOC on "Global
Truck Market"
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With more than one-third of the volume share, trucks with
the tonnage capacity of 3.5 tons to 7.5 tons dominated the global truck market
in 2016 on the back of flourishing e-commerce industry and growing demand for last-mile
connectivity. On the basis of applications, construction sector accounted for
the largest share in global truck market due to rising number of construction
activities across the globe. A large demand for truck emanates from
Asia-Pacific due to the region’s high population density, growing consumer and
industrial base and booming constructions and logistics industry.
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“With booming e-commerce industry, demand for trucks is also likely to
increase, globally. Furthermore, globalization coupled with the increasing
demand for efficient supply chain to transport goods across the globe is
boosting demand for trucks. In addition, growing preference for electric trucks,
keeping in view the rising pollution levels, would positively influence the
global truck market in the coming years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Truck Market By Application, By Tonnage Capacity, By Fuel Type, By Region,
Competition Forecast & Opportunities, 2012 –2022” has analyzed the potential
of truck market globally,
and provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by the truck market across the globe.
About TechSci Research
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and emerging markets, leading technologies and niche applications. Our
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