High-Performance Trucks Market Size is expected to cross USD $120101.02 million by 2030 at a CAGR of 4% during the forecast period 2022-2030
The global high-performance trucks market has witnessed remarkable growth in the global market and it has been observed that, its demand in the future is expected to grow with the CAGR of ~4%.
The major factors contributing in the growth of the global high-performance truck market are the introduction of stringent emission norms by the government of various developing and developed nations, and the increase in the supply of temperature-sensitive material. This is leading to an increase in the demand for refrigerated high-performance trucks, the growth of organized retail industry majorly in developing economies, and the increase in demand for frozen perishable commodities and the significant growth in the infrastructure. However, the growth of the high-performance trucks market is expected to be restrained by the huge cost of manufacturing and the limited scope of electrification of such high-performance trucks. However, the introduction of electric high-performance trucks with advanced features for ensuring better performance and enhanced driver comfort is expected to generate huge opportunities over the forecast period.
The high-performance truck consist of a high-performance traction system. The high-performance trucks are equipped with powerful motors and intelligent electric control systems. The high-performance truck market is majorly driven with the increasing investments made by the buyer for the modification and customization of trucks.
The prominent players in the high-performance trucks market include ZF (Germany), Chevrolet (U.S.), Dodge (U.S.), GMC (General Motors Truck Company) (U.S.), Toyota Motor Corporation (Japan), Volvo trucks (Sweden), Paccar Inc. (U.S.), Daimler Trucks North America LLC (U.S.), Caterpillar Inc. (U.S.), MAN Truck & Bus AG (Germany) and Cummins (U.S.) others.
Based on transmission type, the market has been segmented as Automatic, Manual and Semi-automatic. Amongst these, the semi-automatic segment is projected to be the fastest growing segment owing to the benefits provided by such transmission such as comfort similar to the automatic transmission system and fuel efficiency which is also achieved by manual transmission. Also, the low cost of semi-automatic transmission as compared to the automatic transmission system is leading due to an increase in the use of the developing and the cost-sensitive region such as the Asia Pacific.
Geographically, the global High-performance trucks market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region is expected to dominate the growth of the global high-performance trucks market. The major factors contributing into the growth of this industry are the introduction of regulatory developments such as axle loading, emission control norms and the shift in consumer preferences towards premium trucks. The upcoming Olympic events, which are arranged in South Korea, China and Japan are further expected to generate huge demand for high-performance dumping trucks in the region.
The report for Global High-performance trucks market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030: USD 120101.02 Million|
|CAGR||4% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Transmission Type, Vehicle Type, Application, Engine|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ZF (Germany), Chevrolet (U.S.), Dodge (U.S.), GMC (General Motors Truck Company) (U.S.), Toyota Motor Corporation (Japan), Volvo trucks (Sweden), Paccar Inc. (U.S.), Daimler Trucks North America LLC (U.S.), Caterpillar Inc. (U.S.), MAN Truck & Bus AG (Germany) and Cummins (U.S.) others.|
|Key Market Opportunities||Increase in the demand for refrigerated high-performance trucks|
|Key Market Drivers||
The global high-performance trucks market is anticipated to record a substantial market valuation due to the advent of stringent emission norms, and growth in the supply of temperature-sensitive material.
The global high-performance trucks market is projected to register a moderate 4% CAGR in the forecast period.
The semi-automatic segment is slated to expand as the fastest-growing segment.
The dumping segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global high-performance trucks market are Daimler Trucks North America LLC (U.S.), Caterpillar Inc. (U.S.), MAN Truck & Bus AG (Germany) and Cummins (U.S.), among others.