LONDON--(BUSINESS WIRE)--The heavy-duty (HD) trucks market in Europe is poised to grow by 60.36 thousand units during 2019-2023, progressing at a CAGR of about 3% during the forecast period. Request Free Sample Pages
Read the 117-page research report with TOC on "Heavy-duty Trucks Market in Europe Analysis Report by Type (Heavy-duty trucks from 3.5 to 16 tonnes and Heavy-duty trucks over 16 tonnes), Geography (Germany, France, and Rest of Europe), and Segment Forecasts, 2019 - 2023".
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The growing demand for HD trucks from truck rental service providers and development of multi-brand truck platooning in Europe is anticipated to boost the growth of the market.
HD truck manufacturers have been witnessing a substantial increase in the sales volume of their vehicles. This is attributed to the higher adoption of HD trucks by truck rental services as compared to retail sales. Builders and fleet managers are expected to rent more trucks for residential construction. Thus, service providers are encouraged to satisfy this growing demand from truck rental services by widening their fleet portfolio. Thus, the growing demand for HD trucks from truck rental service providers is expected to drive market growth during the forecast period.
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Major Five Heavy-duty Trucks Market Companies in Europe:
AB Volvo
AB Volvo is headquartered in Sweden and operates the business under various segments such as Trucks, Construction Equipment, Buses, Volvo Penta, Group Functions and Other, and Financial Services. The company offers Volvo FL, Volvo FM, and Renault Trucks T.
CNH Industrial
CNH Industrial is headquartered in the UK and offers products through the following business units: Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services. The company offers New STRALIS, New STRALIS NP, and New Eurocargo.
Daimler
Daimler is headquartered in Germany and operates under various business segments, namely Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Financial Services. The company offers Mercedes-Benz Arocs, Mercedes-Benz Actros, and Mercedes-Benz Atego.
Navistar
Navistar is headquartered in the US and offers products through the following business segments: Trucks, Parts, Global Operations, and Financial Services. The company offers LONESTAR and LT SERIES.
PACCAR
PACCAR is headquartered in the US and offers products through the following business segments: Truck, Parts, and Financial Services. The company offers The DAF LF, The DAF XF, and The DAF CF.
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Heavy-duty Trucks Market in Europe Type Outlook (Revenue, Thousand Units, 2019 - 2023)
- Heavy-duty trucks from 3.5 to 16 tonnes
- Heavy-duty trucks over 16 tonnes
Heavy-duty Trucks Market in Europe Regional Outlook (Revenue, Thousand Units, 2019 - 2023)
- Germany
- France
- Rest of Europe
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