Major factor driving growth of the global truck market is increasing construction and reconstruction activities in developed countries. In addition, increasing foreign direct investment and major manufacturers shifting theirs base to developing countries which leading to construction activities which in turn is increasing demand for trucks for various activities is expected to support growth of the global truck market. In addition, increasing environmental concern demand for electric and hybrid trucks is expected to support growth of the global truck market.
The global truck market is segmented on the basis of vehicle type, fuel type, application and region.
The vehicle type segment of global truck market is segmented on the basis of light weight trucks, medium weight trucks, and heavy weight trucks.
The fuel type segment of global truck market is segmented on the basis of diesel, electric, gasoline/ natural gas, and electric & hybrid.
The application segment of global truck market is segmented on the basis of construction, mining, and logistics.
On the basis of region, the global truck market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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The market in Asia Pacific is expected to account for largest share in the global market in terms of revenue, owing to increasing foreign direct investment, and presence of prominent players in countries in the region. The markets in North America and Europe are expected to account for significant revenue share in the global market. The market in Europe is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to increasing construction and reconstruction activities and major truck manufacturers in this region.
Key players operating in the global truck market include Daimler AG, AB Volvo (PUBL), Isuzu Motors Ltd., Hyundai Motor Company, Scania AB, MAN Truck & Bus AG, Hino Motors, Ltd., Tata Motors Limited, Ashok Leyland Limited, and Dongfeng Motor Corporation.