Vocational Trucks Market Size and Competitive Analysis till 2031

MARKET OVERVIEW

The vocational truck is a conventional truck designed to carry out special jobs such as concrete mixing, fire-fighting, garbage collection, transportation, and among others. Rapid growth in the construction activities is boosting the demand for the vocational trucks market. Further, the steady expansion of the mining industry drives the demand for trucks, such as dump trucks, which also fuel the vocational trucks market growth.

MARKET SCOPE

The "Global Vocational Trucks Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the vocational trucks market with detailed market segmentation by vehicle type, fuel type, components, treatment after device, sales channel, and geography. The report provides key statistics on the market status of the leading vocational trucks market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on product, the global vocational trucks market is segmented into trailer truck, dump truck, crane truck, firefighting truck, garbage truck, tank truck, concrete mixer truck, and others.
  
•   On the basis of engine type, the market is segmented into diesel, electric and gas.
  
•   Based on type, the global vocational trucks market is segmented into light-duty vocational trucks, and medium & heavy duty vocational trucks.
  
•   Based on application, the global vocational trucks market is segmented into construction, mining, transportation & logistics, urban services and others.
  

MARKET DYNAMICS

Drivers:

•   Rising urbanization is fueling the demand for vocational trucks such as utility, firefighters, ambulances, refuse, and others driving the demand for vocational trucks market.
  
•   Further, the growing need for sustainable infrastructure and rising municipal budgets are boosting the adoption of utility trucks that grow the vocational trucks market demand.
  
•   Increasing government budget and implementing strict regulations about fire safety and waste management are growing demand for the truck, which is expected to influence the vocational trucks market growth.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The vocational trucks market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the vocational trucks market in these regions.

IMPACT OF COVID-19 ON VOCATIONAL TRUCKS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the vocational trucks market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from vocational trucks market are anticipated to lucrative growth opportunities in the future with the rising demand for vocational trucks in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the vocational trucks market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   AB Volvo
  
•   CNH Industrial N.V.
  
•   Daimler AG
  
•   Dongfeng Motor Corporation
  
•   Hino Motors, Ltd.
  
•   Isuzu Motors Ltd.
  
•   Navistar International Corporation
  
•   PACCAR Inc.
  
•   TATA Motors Limited
  
•   Volkswagen Group
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Vocational Trucks Report Scope