The High-Performance Trucks Market, by volume, had a market size of 1.7 Million units in 2016 and is projected to reach 2.5 Million units by 2025, at a CAGR of 4.06% during the forecast period. Increasing demand for special application trucks with high engine power requirement and increasing focus toward fuel economy standards have triggered the growth of the high-performance trucks market. Also, increase in demand for long-haul trucks for efficient transportation of goods has also boosted the demand for high-performance trucks globally.
The ecosystem of the high-performance trucks market consists Tier I suppliers such as ZF (Germany), Cummins (US), and Eaton (Ireland). These systems and components are supplied to OEMs of medium- & heavy-duty trucks such as Daimler (Germany), Volvo (Sweden), and MAN (Germany). It also includes OEMs of pickup trucks such as Ford (US), GMC (US), and others.
Pickup trucks are projected to be the fastest and largest growing segment of the high-performance trucks market, by vehicle type, where North America is the leading region. OEMs such as General Motors and Ford, which have a strong presence in the US, are developing light-duty trucks with features such as high-performance, enhanced driver experience, and fuel efficiency. Regulatory bodies in developed and developing nations are emphasizing safety and disaster management by allocating large portions of their budgets. This is also expected to lead to the increased demand for high-performance pickup trucks for safety purposes such as fire and rescue application.
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A semi-automatic transmission is estimated to be the fastest growing segment of the high-performance trucks market, by transmission type. Owing to benefits such as comfort as good as that of automatic transmission system, and fuel efficiency equivalent to manual transmission, at a cost lower than automatic transmission system, the semi-automatic transmission systems are now being preferred in cost-sensitive economies such as Asia Oceania, where the initial cost of the vehicle is a prime factor during the purchasing process.
Available Customizations
· High-Performance Trucks Market, By Transmission Type (at Country Level)
· Automatic Transmission
· Semi-automatic Transmission
· Manual Transmission
· High-Performance Trucks Market, By Fuel Type (at Country Level)
· Diesel
· CNG
· LNG
· High-Performance Trucks Market, By Fuel Type (at Country Level)
· Medium- & Heavy-Duty Trucks
· Pickup Trucks
The research methodology used in the report involves primary and secondary sources and follows a bottom-up approach for market estimation. The study involves country-level model mapping of pickup trucks and medium-& heavy-duty trucks for their technical specifications and filtered the trucks with power output >250 hp. Further, the analysis of different applications considered for high-performance trucks (dumping, distribution, refrigeration, tanker, container, RMC, and special application). This analysis involves historical trends as well as existing penetrations by country as well as application.
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