The Truck market is growing at a slow pace according to the new report which it says is mainly due to “flat market” in matured markets like Europe and the Middle East and the Americas. This is due to stagnant economic growth which is leading to low investment in construction and mining activities. The report estimates that the market will reach to over 4 million unit sales during the forcast period.
According to the report, the varying market conditions, strict norms on emissions, and rising fuel prices are affecting the high performance truck market in triad countries, whereas in emerging countries like China and India the market has been experiencing growth, with increasing investment in infrastructure, economic expansion, and increasing transport volumes.
The report further states that the market is currently facing a considerable amount of challenges, including strict emission standards, increasing cost of ownership for consumers, which is in turn affecting consumer buying behavior, and also that the truck industry is globalizing, which is exposing the industry to severe competition.
Leading vendors highlighted are:
Other Prominent Vendors highlighted are: