Global High-performance Trucks Market is expected to rise from its initial estimated value of USD 1.94 billion in 2018 to an estimated value of USD 2.70 billion by 2026, registering a CAGR of 4.25% in the forecast period of 2019-2026. Growth in the retail industry is the major factor for the growth of this market.
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Market Definition: Global High-performance Trucks Market
High performance trucks are those which are armed with powerful motors and electric control system and also consist of traction system. They are usually of two types’ medium & heavy duty trucks and pickup trucks. They are widely used in the applications like refrigeration, tanker, container and RMC. There is increasing adoption of high performance trucks due to growth in the retail industry.
Key Market Competitors: Global High-performance Trucks Market
Few of the major competitors currently working in the global high performance truck market are AB Volvo, Daimler AG., Scania, PACCAR Inc., MAN, Toyota, Ford Motor Company, General Motors, FCA, Nissan, Allison Transmission Inc., ZF Friedrichshafen AG, Cummins Inc., Eaton, American Axle & Manufacturing, Inc., Mahindra & Mahindra Ltd.
- Growth in the retail industry is driving the market growth
- Rising demand for frozen decomposable product is another important factor driving the growth of this market
- Increasing demand for the electric high performance trucks is restraining the growth of this market
- Less availability of truck drivers is another factor restraining the market growth.
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Segmentation: Global High-performance Trucks Market
By Vehicle Type
- Medium & Heavy Duty Trucks
- Pickup Trucks
By Power Output
- 250–400 HP
- 401–550 HP
- >550 HP
- Special Application
By Fuel Type
By Transmission Type
- Automatic Transmission
- Semi-Automatic Transmission
- Manual Transmission
By Engine Type
- Conventional Gasoline
- Supercharged Gasoline
- Supercharged/Turbocharged Diesel
- Conventional Diesel
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In October 2018, Sentinel Capital Partners announced that they have acquired Holley Performance Products who are manufacturer of exhaust system, engine tuning and ignition system, injection system and carburettors. This acquisition will help the company to expand their business portfolio by providing better product and services to the customers.
- In November 2015, Brembo announced the launch of their B-M8 which is a new 8-piston caliper with four pads which is suitable for rotors up to 420mm x 40mm. This calliper is specially designed for the front braking system of trucks and SUVs. The main aim of the launch is to provide better high performance Brembo to the customers.
Competitive Analysis: Global High-performance Trucks Market
Global high performance truck market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of high performance truck market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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