Automotive High Performance Trucks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Automotive High-Performance Trucks market has been segmented by Truck Type (Light, Medium, Heavy), by Drive Type (IC Engine and Electric or Hybrid) and by Geography.

Home right-chevron-icon Industry Reports right-chevron-icon Automotive right-chevron-icon Vehicles right-chevron-icon Automotive High Performance Trucks Market

Automotive High Performance Trucks Market Size

ahpt_sns
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: > 4 %

Major Players

rd-img

*Disclaimer: Major Players sorted in no particular order
setting-icon

Need a report that reflects how COVID-19 has impacted this market and it's growth?

Automotive High Performance Trucks Market Analysis

The Auomotive High Performance Trucks Market is expected to register a growth rate of more than 4% during the forecast period, 2020-2025.

  • Some of the major factors driving the growth of the market are the expansion of industrial sectors in the emerging market, growing demand from the logistics industry, rising demand from construction sector (owing to growing construction activities). The market is expected to witness growth in the coming years, owing to growing economies across both developing and developed counties.
  • Owing to consistent technological advancements and enactment of stringent emission norms, automakers (OEMs) are shifting their focus towards electric and hybrid high performance trucks. Rivian R1T truck which is fully electric is expected to be launched in 2020.
  • The increasing number of construction and e-commerce activities resulted in an increase in demand for material transportation, which in turn, resulted in increased sales of high-performance trucks worldwide. This is likely to drive the growth of the high-performance trucks market in the near future.
  • Sales of trucks is has shown a growth in Europe and European Free Trade Association region owing to stockpiling in quarter 1 and pre buying before European Union Smart Tachograph mandate in quarter 2. In South America, Brazilian Medium and Heavy Truck Market is booming owing to the demand from mining and agricultural sectors. In USA, production of commercial vehicles rose from 8.15 million units in 2018 to 8.52 million units in 2019.

Automotive High Performance Trucks Industry Segmentation

The Automotive High Performance Trucks market covers the latest trends and technological development in the high-performance trucks market, demand of the Truck type, Drive Type, Geography and market share of major automotive high performance truck manufacturers across the world.

Truck Type
Light
Medium
Heavy
Drive Type
IC Engine
Electric Or Hybrid
Geography
North America
United States
Canada
Rest Of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest Of Latin America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest Of Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Automotive High Performance Trucks Market Trends

This section covers the major market trends shaping the Automotive High Performance Trucks Market according to our research experts:

Heavy-duty Truck Segment is Projected to Grow at a Fast Pace

The heavy truck segment is expected to exhibit a significant growth rate of more than 3% during the forecast period. The heavy-duty trucks have a gross vehicle weight of more than 16 metric ton. Factors such as demand for multi-axle systems, deployment of downsized engines, etc. are anticipated to boost vehicle performance.

In 2019 Europe and several Asia-Pacific countries recorded a decline in sales of Heavy Commercial Vehicles (HCV). Factors such as fluctuations in the growth of tourism and logistics sectors, slow economic growth and stringent trade policies were responsible for the low sales number. Asian countries such as Japan and India and North America region exhibited growth in HCV sales. A total of 351128 units of Heavy Trucks were sold in India till September 2019, 15% more than 304313 units recorded in 2018.

The mining industry recorded a profit of USD 66 billion in 2018, USD 5 billion more than the profit in 2017. Mining industry deploys heavy-duty trucks in large numbers and imptovements, advancments in the industry are propelling the sales of heavy-duty trucks.

The growth in construction, tourism and logistics activities across the world is expected to propel the demand for heavy-duty commercial vehicles during the forecast period. China’s highly ambitious One Belt One Road initiative aims at construction of a unified market with geographies and countries through rail, sea routes and roads. Saudi Arabia's Neom Project aims at development of smart futuristic city with a total length of 460 kilometers and an area of 26500 square kilometers. The aforementioned developments are propelling the growth of high performance heavy duty trucks across the world.

The growing demand for achievement of economies of scales and operational efficiencies in several sectors is driving the heavy duty truck leasing and rental market and subsequently propelling the market growth for high performance .heavy duty trucks.

aphtt1

Europe Leading the Electric Truck Market

The electric truck market is being led by Europe. The region is expected to shift to hybrid or full-electric technologies in an active drive toward EU’s 20-20-20 target and to achieve the COP21 objectives.

Europe and North America are expected to account for significant shares in the total sales of electric trucks. Moreover, growing concerns about environmental pollution through internal combustion engine vehicles are also expected to play a crucial role in the growth of the electric truck market.

Renault Trucks, after ten years of experimentation of its all-electric truck unveiled medium and heavy-duty electric vehicles in 2018 namely Renault Trucks D Wide Z.E and Renault Trucks D Z.E ideally suited for use in the cities of France. Renault is planning to launch Truck Models D and D Wide Z.E commercially in 2019.

The demand for electric truck in North America is also increasing, with major truck manufacturers expanding their businesses in the region. Tesla launched all electric Cybertruck in November 2019. Tesla received nearly 146000 pre orders for Cybertruck after nearly 36 hours of launch. The pickup truck has 3 variants having single, dual and triple motors having range from 250 miles to over 500 miles.

aphtt2

Automotive High Performance Trucks Industry Overview

The market studied is a consolidated one and major players such as General Motors, Ford, Daimler AG, Toyota Motor Corporation, ISUZU and Mitsubishi Motor Corporation currently dominates it.

  • Daimler Trucks is planning to invest a total of more than EUR 2.5 billion in R&D during 2018-2019, to focus on the on-going trends of the automotive industry such as e-mobility, connectivity, and automated commercial vehicle technology.

Automotive High Performance Trucks Market Leaders

  1. PACCAR Inc

  2. Daimler AG

  3. MAN SE

  4. Volvo Group

  5. Scania AB

*Disclaimer: Major Players sorted in no particular order

apht mc.png

Automotive High Performance Trucks Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Truck Type

      1. 5.1.1 Light

      2. 5.1.2 Medium

      3. 5.1.3 Heavy

    2. 5.2 Drive Type

      1. 5.2.1 IC Engine

      2. 5.2.2 Electric Or Hybrid

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest Of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Mexico

        2. 5.3.4.2 Brazil

        3. 5.3.4.3 Rest Of Latin America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest Of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Paccar Inc

      2. 6.2.2 MAN SE

      3. 6.2.3 Tata Motors Limited

      4. 6.2.4 Ford Motor Company

      5. 6.2.5 Toyota Motor Corporation

      6. 6.2.6 Navistar International

      7. 6.2.7 Hino Motors

      8. 6.2.8 Daimler AG

      9. 6.2.9 Volvo Group

      10. 6.2.10 General Motors Company

      11. 6.2.11 Scania AB

      3. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

You can also purchase parts of this report. Do you want to check out a section wise price list?

Automotive High Performance Trucks Market Research FAQs

The Automotive High Performance Trucks Market is studied from 2018 - 2028.

The Automotive High Performance Trucks Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

PACCAR Inc, Daimler AG, MAN SE, Volvo Group, Scania AB are the major companies operating in Automotive High Performance Trucks Market.

Automotive High Performance Trucks Industry Report

Statistics for the 2023 Automotive High Performance Trucks market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive High Performance Trucks analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!