Global Heavy-Duty Trucks Market to Grow at CAGR of 1.41%

The global heavy-duty trucks market is expected to grow at a CAGR of 1.41% during the period 2017-2021 according to Research and Markets report.

According to the report, one of the major drivers for this market is increased adoption from rental service for construction and logistics business. The rental equipment industry is capital intensive. Funds are required for acquisition and maintenance of equipment fleets, secure storage facilities, work on the fleets, and for operating the business. Cash inflows from business, equipment utilization, time utilization and higher prices contribute to the positive growth of this service market.

The latest trend gaining momentum in the market is alternative fuel HD trucks. The growing concerns about vehicle emissions and environmental pollutions have made many major countries introduce emission regulations in order to cut down the greenhouse gases (GHG) and other pollutant emissions from vehicles, especially from the commercial vehicles. This has started the trend of biofuel, electric, and hybrid HD trucks.

The key vendors in this market, according to the report are:

  • Daimler Trucks
  • MAN
  • Scania
  • Volvo Trucks

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