Articulated Lorry Market was valued at USD 57.2 Billion in 2022 and is projected to reach USD 79.1 Billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
The articulated lorry market is a critical segment of the global transportation and logistics industry driven by increasing demand for efficient cargo movement. In 2023 the market was valued at approximately $XX billion and is projected to grow at a compound annual growth rate CAGR of X.X% from 2023 to 2033 reaching an estimated $XX billion by the end of the forecast period.
Key factors propelling market growth include the expansion of e commerce advancements in autonomous vehicle technology and increasing globalization of supply chains. Trends such as electrification and the integration of telematics systems are further influencing the market landscape.
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Rising demand for freight transportation due to e commerce growth.
Adoption of fuel efficient and electric articulated lorries to meet sustainability goals.
Government incentives and subsidies for green transportation initiatives.
High initial investment and maintenance costs for advanced lorries.
Stringent regulatory requirements and emissions standards.
Supply chain disruptions affecting production and distribution.
Advancements in autonomous driving technology.
Expansion into emerging markets in Asia Pacific and Africa.
Development of hydrogen powered articulated lorries.
Logistics: Used extensively in long haul transportation for consumer goods and industrial products.
Construction: Transporting heavy machinery and construction materials.
Agriculture: Moving bulk produce and farm equipment.
Third Party Logistics 3PL Companies: Major contributors to market demand leveraging articulated lorries for efficient fleet operations.
Retailers: Ensuring last mile delivery and supply chain optimization.
Manufacturers: Supporting just in time inventory practices and production schedules.
North America: Dominated by advancements in autonomous lorries and strong logistics infrastructure.
Europe: Growth driven by strict emission regulations and adoption of electric lorries.
Asia Pacific: Rapid industrialization and urbanization are key growth drivers.
Daimler AG: Leading the market with a focus on electric and autonomous lorry development.
Volvo Group: Known for innovative technologies in fuel efficiency and sustainability.
Scania AB: Offers a broad range of articulated lorries tailored for various applications.
PACCAR Inc: Parent company of Kenworth and Peterbilt emphasizing advanced telematics.
MAN SE: Focused on hybrid and fully electric articulated lorries to meet emission standards.
Emerging trends in the articulated lorry market include:
Electrification: Growing investment in electric lorries to meet zero emission targets.
Telematics Integration: Advanced fleet management systems improving operational efficiency.
Autonomous Driving: Development of self driving lorries to address driver shortages and reduce costs.
Collaborative Ventures: Partnerships between OEMs and technology companies to accelerate innovation.
Supply Chain Disruptions: Material shortages and logistical bottlenecks affecting production schedules.
Regulatory Barriers: Compliance with varying regional emission standards.
Pricing Pressures: High costs associated with new technologies and raw materials.
Adopting flexible supply chain strategies and diversifying supplier networks.
Investing in research to develop cost effective and compliant technologies.
Enhancing collaboration between stakeholders to streamline regulatory adherence.
The articulated lorry market is poised for significant growth with electrification and automation being the primary catalysts. By 2033 the industry is expected to witness widespread adoption of autonomous lorries and hydrogen fuel cell technology reducing dependency on fossil fuels and enhancing operational efficiency. Key growth areas include Asia Pacific and Europe driven by urbanization and stringent environmental regulations.
Which region leads the articulated lorry market?
North America and Europe are market leaders with Asia Pacific emerging as a significant growth region.
What are the key applications of articulated lorries?
They are primarily used in logistics construction and agriculture for transporting goods and materials.
What challenges does the industry face?
Key challenges include regulatory barriers supply chain disruptions and high costs of advanced technologies.
Who are the major players in the market?
Top companies include Daimler AG Volvo Group Scania AB PACCAR Inc and MAN SE.
What is the future growth potential of the market?
Significant growth is expected driven by innovations in electrification automation and emerging markets.
Schmitz Cargobull
Kögel Trailer GmbH
HYUNDAI Translead
Great Dane
MANAC INC
CIMC
Utility Trailer Manufacturing Company
Lamberet SAS
Sinotruk
Krone
WIELTON
Schwarzmüller Group
TIRSAN
Gorica
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 Global Articulated Lorry Market
Food & Beverage
Textile Industry
Construction
Others
Based on Types the Market is categorized into Below types that held the largest Articulated Lorry market share In 2023.
Warehouse Articulated Lorry
Refrigerated Articulated Lorry
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Articulated Lorry 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. Global Articulated Lorry Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Articulated Lorry Market, By Type
6. Global Articulated Lorry Market, By Application
7. Global Articulated Lorry Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Articulated Lorry Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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