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.
Browse more than 18 market data Figures spread through 80 Pages and an in-depth TOC on “North America Truck Market“
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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