Heavy-Duty Trucks Market in Europe Predicted to Surge, Accelerating at a CAGR of 6.91% from 2022-2027
Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Heavy-duty Trucks Market in Europe 2023-2027" report has been added to * ResearchAndMarkets.com's* offering.
The heavy-duty trucks market in Europe has been meticulously analyzed in a comprehensive market research report recently added to our collection of industry studies. This report provides an in-depth look at projected growth, emerging trends, and key drivers that are influencing the market in this robust sector.
The industry is seeing a significant upswing, with anticipated growth by USD 13388.66 million during the forecast period of 2022-2027. Our analysis delves into the core components of the market, providing stakeholders with a detailed understanding of future prospects.
The market dynamics reveal that the accelerating growth rate, pegged at a CAGR of 6.91%, is fueled by a combination of factors. One of the primary growth drivers is the increasing demand for heavy-duty (HD) trucks, especially within Eastern Europe, alongside a growing inclination towards HD truck rental services. Additionally, stringent emission standards for HD trucks have urged manufacturers to innovate and comply, thereby stimulating market expansion.
· *Type Segmentation*
· 3.5 to 16 tonnes
· Over 16 tonnes
· *Fuel Type Segmentation*
· Diesel powered
· Gasoline powered
· Electric powered
· Solar powered
An emerging trend identified in the report is the heightened emphasis on electric heavy-duty trucks, which represents a significant shift towards green and sustainable transportation solutions in Europe's logistics industry. This, along with the ongoing development of multi-brand truck platooning and adoption of autonomous technologies in HD trucks, is anticipated to spur notable market demand in the coming years.
The reported findings also encompass a detailed vendor analysis, instrumental in understanding the competitive landscape and assisting clients in enhancing their market position. The comprehensive nature of the report's vendor landscape evaluation details the objectives, strategies, and market performance of key players within the industry.
*A selection of companies mentioned in this report includes*
· AB Volvo
· Scania AB
· Daimler Truck AG
· PACCAR Inc.
· Tesla Inc.
· Volkswagen AG
· BYD Co. Ltd.
· Toyota Motor Corp.
· Ashok Leyland Ltd
· Oshkosh Corp.
· Eicher Motors Ltd.
· General Motors Co.
· Hindustan Motors Ltd.
· Mahindra and Mahindra Ltd.
· Iveco SpA
· Sinotruk Hong Kong Ltd.
· Dongfeng Motor Group Co. Ltd.
· Ford Motor Co.
· Isuzu Motors Ltd.
· Tata Motors Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/h0yg0b
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