The heavy-duty trucks market is set to garner a considerable valuation by 2027 on account of surging product demand across the booming mining and oil & gas industries.
Vehicles that weigh more than 26,001 pounds and fall under class 7-8 trucks are classified as heavy-duty trucks/vehicles. These trucks consist of cement mixers, dry vans, and tractors that are intended to haul refrigerated trailers, among other uses. Heavy-duty trucks are commonly utilized for long-distance transportation and are extensively used in mining, construction, and oil & gas industries. Rising construction activities across key regions have fueled product adoption in recent years.
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The heavy-duty trucks market has been categorized on the basis of horsepower, class, fuel, and region. In terms of class, the market has further been bifurcated into class 7 and class 8. The class 7 sub-segment is speculated to progress at more than 3% CAGR over the forecast period. Class 7 trucks offer several advantages, including lower body weight, low cost, and enhanced fuel efficiency as compared to class 8 trucks, which is set to drive product demand in the coming time period.
From the fuel point of view, the heavy-duty trucks market has been segregated into gasoline, diesel, hybrid electric, and natural gas. The natural gas sub-segment is anticipated to observe sturdy expansion through the review period. Increasing focus of construction companies towards low emission operations is likely to accelerate the adoption of natural gas-powered heavy-duty trucks.
With respect to horsepower, the market has been divided into below 300hp, 300hp - 400hp, 400hp - 500hp, and above 500hp. The heavy-duty trucks market from the above 500hp sub-segment is expected to gain significant traction over 2021-2027 owing to the proliferating requirement of maximum HP trucks in transportation of machineries and debris at mining locations.
From the regional point of view, the MEA heavy-duty trucks market is poised to exhibit a robust growth trajectory over the study timeline. Growing mining and oil & gas extraction activities in the Middle East & Africa region would boost the sales of heavy-duty trucks, which is set to foster market growth over the assessment timeframe.
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Partial Chapter of the Table of Content
Chapter 6 Heavy-Duty Trucks Market, By Fuel
6.1 Key trends, by fuel
6.2 Diesel
6.2.1 Market estimates and forecast, 2017 – 2027
6.3 Natural gas
6.3.1 Market estimates and forecast, 2017 – 2027
6.4 Hybrid electric
6.4.1 Market estimates and forecast, 2017 – 2027
6.5 Gasoline
6.5.1 Market estimates and forecast, 2017 – 2027
Chapter 7 Heavy-Duty Trucks Market, By Horsepower
7.1 Key trends, by horsepower
7.2 Below 300HP
7.2.1 Market estimates and forecast, 2017 – 2027
7.3 300HP-400HP
7.3.1 Market estimates and forecast, 2017 – 2027
7.4 400HP-500HP
7.4.1 Market estimates and forecast, 2017 – 2027
7.5 Above 500HP
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