Heavy duty trucks constitute an essential part of trucking industry. The trucking industry provides a vital service to the economy by transporting large quantities of goods. Heavy duty trucks throughout the world are responsible for the majority of freight movement over land and are vital tools in the construction, manufacturing, transportation and warehousing industries.
Major truck manufacturing companies are focusing on the emerging markets. With booming economies and low penetration rates, emerging markets are the key source of growth for global heavy duty truck industry. The largest heavy duty truck market is China, followed by North America. In terms of registrations, China is growing more rapidly in comparison with North America. Brazil is the fastest growing market in the world.
The key factors driving growth of global heavy duty truck industry include escalating freight volume, rising global construction expenditure, increasing urban population and accelerating global income. Some of the noteworthy trends and developments of this industry are the booming emerging market, increasing shortage of drivers and increasing preference of trucks over railways for logistics. However, the growth of heavy duty truck industry is hindered by the strict emission standard compliance imposed on manufacturers and economic and market conditions.
The present report offers a comprehensive analysis of the worldwide heavy duty truck market along with the study of regional markets including North America, Europe, Brazil, Russia and Asia. The competition in the respective market is intense with few large players viz. Daimler, Volvo, PACCAR and Isuzu. In addition, the competitive landscape in North America, Europe and Asia along with the company profiles of the leading players in the market is discussed in detail.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.