North America Truck Market to Grow at 14% until 2025
Growth in infrastructure,
construction, mining and logistics activities to drive North America truck
market
According
to TechSci Research report, “North America Truck Market By Class Type, By Fuel Type, By Application Type, By Country, Competition, Forecast
& Opportunities, 2025”, North America truck
market is anticipated to register a CAGR of 14% during 2020 – 2025 on account
of anticipated growth in the logistics
sector as all the automobiles which are being transported are carried by heavy
trucks coupled with growing construction activities and construction equipment
market. Apart from these, trucks are being used at mining sites to carry
materials that are being extracted from mining, such as coal, metals, etc.
Different classes of trucks are used for diverse working sites, with class 8
trucks being used to carry heavy loads and consequently used majorly in
carrying of automobiles.
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than 18 market data Figures spread through 80 Pages and an in-depth TOC on "North America Truck Market"
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North
America truck market can be further segmented into class type (class 4, class
5, class 6, class 7, class 8). Class 8 trucks account for the largest market
share in all the class type segments, as it is equipped with heavy engines
which are designed to perform most of the heavy work like transportation of
vehicles. The market can be further segmented into fuel type. In terms of fuel
type, the market can be segmented into diesel, CNG and others. Diesel category accounted
for the largest market share in 2019 and is expected to maintain its leading
market position during the forecast period because diesel engines are comparatively
more powerful engines that are designed to perform in the tough and heavy
conditions. The market is also segmented into application type, which is
further categorized into (Logistics, Construction, Mining).
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In
application types, the logistics sector grabbed the largest share in North
America truck market in 2019. “Freightliner, International,
Kenworth, Ford and Volvo are the major players operating in North America truck
market, On account of increasing logistics, construction and mining activities,
use of trucks is going to increase further across North America in the coming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“North America Truck Market By Class Type, By Fuel
Type, By Application Type, By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of the North
America truck market and provides statistics & information on the market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in North America truck
market.
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