20 August 2018
Heavy-Duty Trucks Market size was valued at over USD 110.5 billion in 2016 and will surpass 2 million units by 2024
Rising domestic and international trading activities across the globe will primarily drive the heavy-duty trucks market size over the next eight years. Road and rail dominate the freight transport segment boosting the overall business growth. Increasing fleet size will support the logistics and construction sectors which in turn drive the heavy-duty trucks market share from 2017 to 2024.
Industry players are focusing on reducing the cost of heavy-duty trucks parts by shifting toward remanufacturing and thereby minimizing the production cost. The rapid expansion of automotive industry in emerging countries owing to the availability of resources along with favorable FDI policies will further support the product penetration.