Global Truck Market is valued approximately 810.6 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2021-2027. Increasing demand for construction and infrastructural activities serves as a key driver for the market. The growing technological system and increase in R&D investment serves as a driver for the market. General Motors announced its re-entry into the medium-duty commercial vehicle sector in the United States in June 2015, focusing on fleet purchasers with pickups, vans, and other carriers. The business intends to market Isuzu Motors carriers under the Chevrolet brand, which will comprise six low-cab forward variants. In 2021, Volkswagen has revealed plans to merge the two Scania and MAN brands into a carrier holding company in order to increase synergies between the two carriers. However, increasing global interest rates will impede the growth of the market over the forecast period of 2021-2027. Furthermore, continued improvements in road infrastructure, as well as increased demand from the e-commerce industry is likely to increase the market growth during the forecast period.

The regional analysis of global Truck Market includes key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading region across the world in terms of market share owing to favorable government initiatives have boosted growth in this region. Whereas, North America is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as increased production capacities and modernization of industries in the automotive industry would create lucrative growth prospects for the Truck Market across Asia-Pacific region.

Major market player included in this report are:
Daimler AG
AB Volvo,
Isuzu Motors Ltd.,
Hyundai Motor Company
Scania AB, MAN Truck & Bus
Hino Motors,
Tata Motors Limited,
Ashok Leyland Limited,
Dongfeng Motor Corporation
Mercedes-Benz
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Tonnage Capacity:
3.5-7.5 tons
7.5-16 tons
16-30 tons
Above 30 tons
By Fuel:
Diesel
Gasoline
CNG & LNG
Electric & Hybrid
By Application:
Construction
Mining
Logistics

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Truck Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Daimler AG
AB Volvo,
Isuzu Motors Ltd.,
Hyundai Motor Company
Scania AB, MAN Truck & Bus
Hino Motors,
Tata Motors Limited,
Ashok Leyland Limited,
Dongfeng Motor Corporation
Mercedes-Benz