North America High Performance Trucks Market - Overview and Forecast (2020 - 2025)

Initially, this model offered only as a regular cab with a six-speed manual transmission, tires on 22-inch rims and a lowered suspension with Bilstein shocks. The power range, which was initially Zero-to-60 times in the 5-second range was enhanced by a 4.56:1 axle ratio. The aerodynamic enhancements helped the vehicle emerge as one of the fastest production pickup truck at 154.587 mph. Dodge is one of the standout examples of companies who got intricately involved in the manufacturing of high-performance trucks in North America as well as in the European markets, especially in the last five years. The growth of the market could be accounted for the increasing demand for high-performance commercial vehicles from the manufacturing and industrial sector.

In the U.S., the market growth is expected to remain below historic trends. The forecast for GDP growth is in the range of 4%-5%, which is primarily due to the result of slower than expected global growth. The situation is different in Canada since low oil prices affect its economy more substantially. However, the commercial truck sales have started to grow faster in Canada than in the U.S. As far as truck sales are concerned, the majority of trucks built in North America are sold in North America.

As a result, events that are likely to happen in the United States during 2018 are far more important to the forecast for truck sales than events in the global economy. The construction sector of the U.S. has been performing well, because of the growth in the residential segment and has been significantly strong enough to outweigh a decline in the non-residential segment. The high-performance commercial vehicle is essentially required to deliver better performances by aligning and upgrading the vehicle’s engine with superchargers and turbocharger.

Based on transmission type, the market has been segmented as Automatic, Manual and Semi-automatic. Amongst these, the semi-automatic segment is projected to be the fastest growing segment owing to the benefits provided by such transmission such as comfort similar to the automatic transmission system and fuel efficiency which is also achieved by the manual transmission. Also, the low cost of semi-automatic transmission as compared to the automatic transmission system is leading due to an increase in the use of the developing and the cost-sensitive region such as the Asia Pacific. On the vehicle type the market is segmented into - Conventional Pickups, Crew Cab, Sports Trucks, Long-haul trucks; Engine- Supercharged Gasoline, Supercharged or Turbocharged Diesel, Conventional Diesel and others.

Growing Demand for North America High Performance Trucks Market

The major factors contributing in the growth of the North America high-performance truck market, is the introduction of stringent emission norms by the government of various developing and developed nations, and the increase in the supply of temperature-sensitive material. This is leading to a rise in the demand for high-performance refrigerated trucks, the growth of organized retail industry majorly in developing economies, and the increase in demand for frozen perishable commodities and the significant growth in the infrastructure.

However, the growth of the high-performance trucks market is expected to be restrained by the huge cost of manufacturing and the limited scope of electrification of such high-performance trucks. However, the introduction of high-performance electric trucks with advanced features for ensuring better performance and enhanced driver comfort is expected to generate tremendous opportunities over the forecast period.

Major Players - Chevrolet, Lincoln, Arden Dodge, Ford, Volvo Trucks, GMC amongst others.

Key developments in the market

• March 2018- Ford ups its electrified vehicle ante to USD 11 Billion; 86% trucks and SUVs in the product mix by 2020.
• March 2018 - Volvo Trucks’ New VNX Series is Heavy-Haul’s New Heavy Hitter. Built specifically for the needs of heavy-haul trucking operations. Available with up to 605 horsepower and 2,050 lb.-ft. of torque.

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