Global Heavy Truck & Bus Industry
The global trucking sector lies at the intersection of various industries involved in the production, transportation and distribution of goods. Players operating in the trucking industry have diversified their services, making the transition from goods transportation from source to end-point.
TechNavio predicts the global heavy truck market will witness 5% yearly growth between 2011 and 2015. Market growth will be fuelled by expansion in the global transportation market. Heavy truck demand from BRIC nations continues to grow on the back of strong economic growth in these regions. Cost of ownership represents one significant obstacle to market growth. Leading vendors currently operating in the global heavy truck market include Daimler, Dongfeng, China National Heavy Duty Truck Group, and China First Automobile Works.
Meanwhile, medium and heavy trucks represented a $180 billion industry in 2010. MarketLine forecasts strong growth in this sector, bringing the industry to almost $293 billion in 2015. Trucks produced by this industry involve trucks used by freight companies. Companies operating in this sector assemble buses, trucks, and special purpose heavy-duty motor vehicles for use on highways including firefighting trucks. They also manufacture truck and bus chassis.