High-Performance Trucks Market size, share, development, industry growth and demand forecast to 2023

The Global report on “High-Performance Trucks Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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“The increasing demand for improved power output and significant infrastructure growth to support the same is projected to fuel the demand for the high-performance trucks market”

The high-performance trucks market is estimated to be 1.8 million units in 2017 and is projected to reach 2.5 million units by 2025, growing at a CAGR of 4.06% during the forecast period. The growing stringency influences the advancements in the engine & exhaust technologies of high-performance trucks in emission norms for heavy- and light-duty vehicles. Manufacturers are adopting technologies to increase fuel efficiency and enhance the power output with engine weight reduction. Also, supply and demand for goods are majorly dependent on efficient logistics, and it also needs well-established road infrastructure. Efficient logistic operations require medium & heavy-duty vehicles with high engine power output, which is driving the demand for the high-performance trucks market.  

“The market for LNG trucks is estimated to witness the fastest growth in the high-performance trucks market”

Increasing stringency of emission norms across the globe has forced engine manufacturers to develop low-emission alternative-fuel engines. For instance, leading engine manufacturers such as Cummins and Caterpillar have developed engines for natural gas-powered trucks. The US & European governments are focusing on the deployment of more CNG & LNG fueling stations and promoting the use of alternate fuel-powered commercial vehicles. For instance, according to European Alternative Fuels Observatory (EAFO), LNG stations increased significantly in Europe between 2008 and 2015. The total number of LNG fueling stations in Europe was 33,282 in 2008, which increased by 20.32% from 2008 to 2015. Also, as LNG allows transporters to store more fuel in trucks in a smaller space, the demand for LNG-powered trucks is increasing significantly in long-run applications.

“The market for engine with 250–400 hp power output is estimated to hold the largest share in the high-performance trucks market”

The increasing demand for higher capacity trucks for rigid application such as distribution, waste management is driving the high-performance 250–400 hp trucks market. High-performance trucks with a power output range of 250–400 hp are more useful in city distribution where freight load is not high. The growing organized logistics sector has led to the increased demand for rigid trucks for distribution purposes in Europe and North America. Similarly, large organized retailers such as Wal-Mart (US) and Tesco (UK) are exploring opportunities in emerging countries such as China and India and opening stores or creating buying hubs with the help of local market leaders. As the organized retail market is growing, the demand for distribution trucks is also increasing. This increasing demand for rigid distribution trucks is expected to boost the market for high-performance trucks with a power output of 250–400 hp.

“Asia Oceania: The largest region in the high-performance trucks market”

Asia Oceania is estimated to dominate the high-performance trucks market. Factors such as strong economic growth, booming logistics and supply chain sector, stringent emission norms are responsible for the growth of Asia Oceania in the high-performance trucks market. Similarly, to build efficient road connectivity, countries such as India and China are significantly investing in infrastructure facilities. For instance, the Indian government has launched various infrastructure projects such as Sagar Mala Project, Bharat Mala Project, Rashtriya Rajmarg Zila Sanjoyokta Pariyojna Project, and Chardham-Highway Project.

China accounts for the largest share of the Asia Oceania high-performance trucks market owing to the presence of key medium- & heavy-duty OEMs such as BAIC, FAW, CNHTC, Dayun Group, BeiBen Truck, and others. Also, China has the largest number of medium- and heavy-duty trucks produced ~50% in 2017. Owing to stringent emission norms set by the Chinese Ministry of Environmental Protection (MEP), OEMs in China are continuously focusing toward the development of after-treatment devices, engine technologies, technology upgrade, and other developments. All these factors influence the growth of the high-performance trucks market in Asia Oceania in the near future.

Breakdown Of Primaries

The study contains insights provided by various industry experts, ranging from automotive OEMs to Tier I suppliers. The breakdown of the primaries is as follows:

  • By Company Type:  OEMs—65%, Tier-I—20%, and Tier-II—15%
  • By Designation: C level—40%, D level—35%, and Others**—25%
  • By Region: Asia Oceania—35%, Europe—35%, North America—20%, and RoW—10%

Note: *Others include sales managers, marketing managers, and product managers.

**Tier I are Engines, Transmission suppliers, whereas Tier II are automotive component and material suppliers

Company tiers are based on the value chain; revenue of the company has not been considered.

The report provides detailed profiles of the following companies:

  • Volvo (Sweden)
  • Daimler (Germany)
  • Scania (Sweden)
  • Paccar (US)
  • MAN (Germany)
  • Ford (US)
  • GMC (US)
  • FCA (UK)
  • Nissan (Japan)
  • Toyota (Japan)
  • Allison (US)
  • ZF (Germany)
  • Cummins (US)
  • Eaton (Ireland)
  • American Axle (US)

Research Coverage:

The report provides a picture of the high-performance trucks market across different verticals and regions. It aims at estimating the market size and future growth potential of the high-performance trucks market, by application, power output, fuel type, vehicle type, transmission type, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, competitive landscape, recent developments, and key market strategies.

Reasons to Buy the Report:

The report provides insights into the following points:

  • Market Penetration: The report provides comprehensive information on high-performance trucks across the countries offered by the top players in the industry. The report covers application segment which includes refrigeration, dumping, tanker, container, RMC, special application and others
  • Market Development: The report provides comprehensive information on various high-performance trucks trends. The report analyzes the markets for various high-performance trucks applications across the countries.
  • Market Diversification: The report provides exhaustive information about emerging technologies, country wise emission norms, recent developments, and investments in the global high-performance trucks market.
  • Competitive Landscape: The report offers an in-depth assessment of recent developments of the supply chain players which include OEMs (medium- & heavy-duty trucks and pickup trucks), and Tier-1 companies.
  • Additional Customization: The report offers additional customization depending upon the clients request such as application segment by power output (250–400hp, 401–550hp, and >550 hp) at the regional level, fuel type (CNG, LNG, and Diesel) segment at the country level, and others.

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