South Korea Articulated Truck Market was valued at USD 0.7 Billion in 2022 and is projected to reach USD 0.9 Billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030.
The South Korea articulated truck market has been experiencing substantial growth in recent years, driven by the increasing demand for efficient transportation and logistics solutions. Articulated trucks, commonly known as semi-trucks or tractor-trailers, are widely used across industries for long-distance cargo transportation. The market's expansion is largely due to the growing need for supply chain optimization in South Korea's manufacturing, retail, and logistics sectors.
In South Korea, the articulated truck market is segmented by vehicle type, with heavy-duty trucks leading the way. These trucks are designed to handle large loads, making them ideal for industries such as construction, mining, and agriculture. The demand for articulated trucks is particularly high in the construction industry, where large volumes of raw materials and equipment need to be transported over long distances. The truck's ability to navigate through tight urban environments and rough terrains further boosts its popularity.
Industries such as retail and e-commerce are also driving the demand for articulated trucks. With the rapid growth of online shopping in South Korea, logistics companies require efficient transportation solutions to ensure timely deliveries. Articulated trucks are preferred for their ability to carry large volumes of goods, which helps businesses reduce transportation costs and meet the rising consumer expectations for fast delivery times.
Furthermore, articulated trucks offer flexibility in terms of payload capacity and load distribution, making them a versatile solution for various industries. The growing trend towards automation and technological advancements in truck design, such as advanced telematics and fuel-efficient engines, is also expected to contribute to the market's growth. These innovations help optimize the truck's performance, reduce operating costs, and improve environmental sustainability.
The South Korea articulated truck market is poised to continue its upward trajectory, as industries across the country increasingly recognize the need for reliable, cost-effective transportation solutions. With the ongoing demand for efficient logistics and the push towards technological advancements, the articulated truck market will remain a key component of South Korea's economy for years to come.
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Volvo
Terex Corporation
Doosan Corporation
Deere & Company
Caterpillar
Bell Trucks America
The Liebherr Group
Komatsu
Hydrema Holding
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Articulated Truck Market
Standard Articulated Trucks
Heavy-duty Articulated Trucks
Light-duty Articulated Trucks
Specialty Articulated Trucks
Diesel Engines
Electric Engines
Hybrid Engines
Natural Gas Engines
Below 20 Tons
20-30 Tons
30-40 Tons
Above 40 Tons
Construction
Mining
Agriculture
Logistics and Transportation
Cement and Concrete
Manual Transmission
Automatic Transmission
Automated Manual Transmission (AMT)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Articulated Truck Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Articulated Truck Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Articulated Truck Market, By Type
6. South Korea Articulated Truck Market, By Application
7. South Korea Articulated Truck Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Articulated Truck Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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