The report “ Global Medium and Heavy Truck Market, By Tonnage (3.5 – 7.5 Tonnes, 7.5 – 16 Tonnes and above 16 Tonnes), By Drive Type (IC Engine and Electric or Hybrid), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030″ Global Medium and Heavy Truck market accounted for US$ 257.3 billion in 2018 with a CAGR of 11.35%. Major factors driving the growth of the market are the expansion of industrial sectors in the emerging market, growing demand from the logistics industry, rising demand from the construction sector (owing to growing construction activities). The market is expected to witness growth in the coming years, owing to growing economies across both developing and developed counties.
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- In April 2018, Volvo Trucks introduced its first all-electric commercial truck, the FL Electric model, and plans to launch them commercially in Europe by 2019.
- In 2018, Renault has unveiled three electric vehicles namely, the Renault Master Z.E, Renault Trucks D Wide Z.E, and Renault Trucks D Z.E, a complete range from 3.5 to 26 metric ton ideally suited for use in the cities of France.
Key Market Insights from the report:
The global medium and heavy truck market accounted for US$ 257.35 billion in 2018 and is projected to register a moderate CAGR of 11.35% over the forecast period. The market report has been segmented based on tonnage, drive type, and region.
- By tonnage, the global market is classified into 3.5 – 7.5 tonnes, 7.5 – 16 tonnes and above 16 tonnes.
- By drive type, the electric medium and heavy-duty commercial vehicles are expected to see a potential market growth during the forecast period.
- By region, Asia-Pacific is projected to lead the global Medium and Heavy Truck market and is expected to remain dominant during the forecast period, due to growing trend of growing construction activities and logistics market are the major demand originators of the tucks industry.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Medium and Heavy Truck Market,” By Tonnage (3.5 – 7.5 Tonnes, 7.5 – 16 Tonnes and above 16 Tonnes), By Drive Type (IC Engine and Electric or Hybrid), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030
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The prominent player operating in the global medium and heavy truck market includes Paccar, Inc., Daimler, Volvo Group, MAN SE, Tata Motors Limited, DAF Trucks, Renault Trucks, Mitsubishi Fuso, Ashok Leyland, and Yorkshire.
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