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(I-AutoNewsWire.com, September 09, 2017 ) The high performance truck market is growing at a slow pace mainly due to flat market in matured markets like EMEA and the Americas due to stagnant economic growth leading to low investment in construction and mining activities. Publishers market research analysts estimate the market to reach over 4 million in unit sales during the forecast period.
Strict emission norms is forcing the OEMs to adopt advance fuel efficient technologies such as AMT, usage of lightweight materials, engine downsizing and alternative powertrain which has led to increased cost of production of high performance trucks, This incremental cost is pushed upon the consumer which has expected to have a negative impact on the market.
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However, the growth of high performance trucks is observed in the APAC region, especially in countries such as India, Indonesia, Thailand, China, and Malaysia. The increasing demand for infrastructure and growing economy in these countries will stimulate demand for high performance trucks in the forecast period.
Market landscape for the global high performance truck market
The major utility of high performance trucks is goods transportation across cities and in construction or mining activities. Road transport plays a vital role in a countries economy as it is the link between ports and cities, and high performance trucks are used to transport goods in a quick and efficiently across a country. Enhanced performance and driver comfort and safety in high performance trucks are the key trends observed in high performance truck market.
The report covers the present scenario and the growth prospects of the global high performance trucks market for the period 2015-2019. The research report calculates its market size on the basis total production units of high performance trucks considering class-7 and class-8 trucks. The geographical segmentation is done on the basis of production of high performance rucks, with key regions as APAC, Americas and EMEA.
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Increased global competition a key challenge to the market
Strict environmental legislations, rising fuel prices and saturated markets have flattened the overall demand for high performance trucks. Global OEMs are shifting operation to emerging markets specially in BRIC countries and OEMs of these regions with their low cost manufacturing are increasing exports to other emerging nations, thus creating immense competition in the market.
For instance, Daimler is manufacturing trucks in India under the brand name Bharat Benz, and Volvo has entered Indian market with Eicher trucks and busses and in China Volvo is operating with a joint venture with Dongfeng commercial vehicles.
Leading vendors analyzed in this report
Other prominent vendors of this market include Ashok Leyland, Scania AB, Isuzu, TATA, Iveco, and China FAW.
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