MarketAnalysis
The globalhigh-performance truck market size will grow at a 4% CAGR between theforecast period 2017- 2023, according to the new Market Research Future (MRFR)analysis. A high-performance truck is armed with an electric control system andpowerful motors, and also a traction system. It is of two types- pickup trucksand medium & heavy-duty trucks.
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Various factorsare propelling the global high-performance trucks market share. According tothe recent MRFR market estimates, such factors include rise in the utility ofhigh-performance traction system and high-performance truck, affordability ofintelligent electric control systems & powerful motors, increasinginvestments by buyers in the upgradation and customization of trucks, growingneed for special application trucks having high engine power needs, risingfocus on fuel economy standards, need for long-haul trucks for effectivetransportation of goods, and growing demand for lng fuelled high-performancetrucks segment. Additional factors adding market growth include theintroduction of rigorous emission norms by the government worldwide, growingsupply of temperature-sensitive materials, growing demand for refrigeratedhigh-performance trucks, booming retail industry, demand for frozen perishablecommodities, significant improvement in infrastructure, and these trucks beingequipped with advanced features for better performance.
On the flipside, high manufacturing cost, limited electrification scope of thesehigh-performance trucks, and the on-going COVID-19 impact may deter the globalhigh-performance trucks market growth over the forecast period.
MarketSegmentation
The MRFR reporthighlights an inclusive segmental analysis of the global high-performancemarket based on vehicle type, application, and transmission type.
By transmissiontype, the global high-performance truck is segmented into manual, automatic,and semi-automatic. Of these, the semi-automatic segment will lead the marketover the forecast period.
By vehicle type,the global high-performance truck market is segmented into crew cab, sportstrucks, long-haul trucks, conventional pickups, and others. Of these, the crewcab segment will dominate the market over the forecast period.
By application,the global high-performance truck market is segmented into refrigeration,distribution, tanker, container, dumping, and others.
RegionalAnalysis
By region, thehigh-performance trucks market covers the growth opportunity and recent trendsacross Europe, North America, the Asia Pacific (APAC), and the Rest of theWorld (RoW). Of these, the APAC region will lead the market over the forecastperiod. Rapid developments like axle loading, the introduction of strictregulatory norms, consumers’ inclination towards premium trucks, and thehosting of top sports events are adding to the global high-performance trucksmarket in the region.
In NorthAmerica, the high-performance trucks market is predicted to have healthy growthover the forecast period. Demand for effective heavyweight transport coupledwith the availability of modern technologies and transport facilities areadding to the global high-performance trucks market growth in the region.
In Europe, thehigh-performance trucks market is predicted to have sound growth over theforecast period. The presence of several LNG fuelling stations, demand forLNG-powered trucks, and the European government laying emphasis on thedeployment of more LNG and CNG fueling stations and promoting the usage ofalternate fuel-powered commercial vehicles are adding to the globalhigh-performance trucks market growth in the region.
In the Rest ofthe World, the high-performance market is predicted to have steady growth overthe forecast period.
Key Players
Leadingcontenders profiled in the global high-performance truck market report includeCummins (U.S.), MAN Truck & Bus AG (Germany), Caterpillar Inc. (U.S.),Daimler Trucks North America LLC (U.S.), Paccar Inc. (U.S.), Volvo trucks(Sweden), Toyota Motor Corporation (Japan), GMC (General Motors Truck Company)(U.S.), Dodge (U.S.), Chevrolet (U.S.), and ZF (Germany).
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About MarketResearch Future:
Market ResearchFuture (MRFR) is a global market research firm that takes great pleasure in itsservices, providing a detailed and reliable study of diverse industries andconsumers worldwide. MRFR's methodology integrates proprietary information withdifferent data sources to provide the client with a comprehensive understandingof the current key trends, upcoming events, and the steps to be taken based onthose aspects.
Our rapidlyexpanding market research company is assisted by a competent team of researchanalysts who provide useful analytics and data on technological and economicdevelopments. Our deemed analysts make industrial visits and collect valuableinformation from influential market players. Our main goal is to keep ourclients informed of new opportunities and challenges in various markets. Weoffer step-by-step assistance to our valued clients through strategic andconsulting services to reach managerial and actionable decisions.
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