Medium and Heavy Duty Commercial Vehicles Market - Growth, Trends, and Forecast (2019 - 2024)
|出版商||Mordor Intelligence LLP||商品編碼||907006|
|出版日期||內容資訊||英文 70 Pages
|全球中型及大型商用車市場:成長，趨勢，及預測(2019年∼2024年) Medium and Heavy Duty Commercial Vehicles Market - Growth, Trends, and Forecast (2019 - 2024)|
|出版日期: 2019年06月01日||內容資訊: 英文 70 Pages||
The global medium and heavy-duty commercial vehicles market is expected to register a CAGR of 5.46%, during the forecast period, 2019-2024.
Trucks, Buses, and Coaches that weigh from 3.5 tonnes and above are categorized into medium and heavy-duty commercial vehicles and have been considered in the scope of the report.
The global medium and heavy-duty commercial vehicles market have been segmented by tonnage type, drive type, and geography.
Across the globe, some of the countries have banned old commercial vehicles running on public roads to tackle the growing levels of vehicle emissions. For instance,
Above such laws have been gradually impacting freight businesses across the globe.
Thus, the possibility of freight businesses, adopting new commercial vehicles that are eco-friendly, cost-effective, and align with the emission standards, will increase at the global level during the forecast period.
Analyzing the above situation and growing vehicle emission standards, the automakers continue to invest in R&D activities and plans to successfully develop and launch more electric commercial vehicles during the forecast period. For instance,
Thus, the above-mentioned developments, are likely to propel more sales of electric commercial vehicles during the forecast period.
Furthermore, government incentive and subsidies, along with structural & functional improvements in design drives the sales of hybrid and electric trucks.
Among Asia-Pacific countries, China has been dominating the heavy-duty commercial vehicle segment. Four out of ten heavy-duty commercial vehicles are sold in China. In 2018, China recorded 1.14 million unit sales of heavy-duty trucks, witnessing a growth of 3%, when compared to that of 2017.
Government policies and initiatives are also expected to propel the growth of the market. For instance, the potential demand created by the "One Belt One Road" policy will continue to drive the sales for commercial vehicles in the country. Additionally, with the growing e-commerce sector, the logistics industry has been continually increasing, which in turn is propelling the demand for commercial vehicles.
The technology upgrades required by the State VI emission standards (may increase vehicle manufacturing costs), as a result, there is an anticipation of buying rush, before the implementation of new standards in 2021.
A new regulation GB1589 in China is proposed to enhance road safety, which focuses on reducing the capacity of the freight loaded (overloading) on the car carrier trucks. The above regulation is expected to further boost the sales of trucks during the forecast period.
Some of the major players such as Daimler AG, Volvo, Paccar, Man, etc., have captured significant market shares. With the continuous technological advancements and enactment of stringent emission standards, major players have been investing in the latest trends in the automotive industry to sustain their market position. For instance,