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BANGALORE, INDIA, January 10, 2018 /24-7PressRelease/ --
North America has been an economic powerhouse for more than a century now.it has continued to be on top because US, Canada and Mexico are close knit markets. This market has benefitted from some disrupting innovations, presence of skilled workers and a strong internal market. There is no other industry apart from trucking which has benefited more from NAFTA which came into effect 23 years ago. The truck manufacturers, Fleet operators grew more than 4 times ever since this agreement got underway.
Seamless freight movement is what fuels mega economies. In North America, more than 66% of the trade that happens between the participating countries US, Canada and Mexico happens via Trucks. Other modes of transportation like rail. Air pipeline when cumulatively combined carry only the remaining 34% of the freight. Trucks also have a major role in multimodal shipments, more often than not providing the first and last mile connectivity to factories, warehouses, and stores.
Strength in manufacturing, growing retail sales, and signs of a slowly improving housing market are for the most part acting as drivers of truck tonnage volumes however they are additionally confronting a considerable measure of headwinds. The fleet operators in North America have a tough job cut out on their hands. The industry is grappling with Technician shortage, rising lifetime equipment ownership costs, driver shortage, upcoming GHG-2 emission and ELD mandate.
As long haul freight continues to shrink of late, there has been a developing rundown of trucking organizations who are deciding on bring down class of trucks to get their goods delivered. With growing digitization of supply chain there has been a spurt in regionalisation of freight to fulfil orders in shorter times. Earlier, where a fleet operator would hold up till the trailer achieved its ideal limit, now there is no opportunity to hold up. This is prompting small fleet operators, typically having 5-6 Class 8 tractors to move down a few classes and get more vehicles to augment their fleet size. This will go about as a noteworthy test to this market.
Download a sample of the report at our website- https://mobilityforesights.com/product/class-8-truck-market-in-north- ... 17-2022-2/
MARKET SIZE AND FORECAST
US is the engine of the North American trucking Industry accounting for roughly 77% share of the market. The trucks move more than 70% of the freight generated by the Country. Texas being the biggest state for trucking industries not only for number of class 8 trucks sold but also for the amount of freight generated.
Canada, although is equivalent in area covered to US but has only 10% of the population of US. The country has always been sparsely populated because of extreme climate. This is one of the reasons why the size of Class 8 truck market in Canada is 1/10th of that of US.
Mexico constitutes the lowest share of the Class 8 truck market in North America. The market volume has consistently hovered between 25,000-30,000 units a year but that does not reflect the true potential of the market as a lot of used trucks from US make their way after completing their lifetime there.
The Class 8 Truck market in North America is fairly consolidated with only 4 companies making up for complete pie. We immovably trust, the consolidated structure of this market will stay pretty much same for next 5 years as well. Daimler is the undoubted leader in the Class 8 truck North American market followed by PACCAR, Volvo and Navistar. Daimler has held the no 1 tag for more than a decade now. Paccar's share has remained more or less the same in recent past. Volvo has gained considerable market share over past 5 years whereas Navistar has done just the opposite.
Freightliner has been the unanimous choice of fleet operators across North America as they are priced well, easy to maintain and they fetch a reasonable resale price even after 5 years/400K miles on the odometer. The market leader, Daimler is actively pursuing autonomous technology and truck platooning in Oregon. Daimler wants to be the first to get to autonomous trucking. It has also stated that the first version of truck platooning system which will have two trucks with active steering capability of the rear truck.
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
1. The market size (both volume and value) of Class 8 trucks in North America in 2017-2022 and every year in between?
2. The impact of upcoming mandates on this market
3. The market size and forecast segmented by end use segments (Vocational and Line haul)
4. The market size and forecast segmented by fuel type (Diesel and Natural gas)
5. Market share of OEMs in both vocational and line haul segments
6. Future growth plans of Truck manufacturers
7. Latest trends in all truck segments
8. Will electric and autonomous class 8 trucks really happen?
9. Will regional haul overshadow long haul?
10. The impact of renegotiation of NAFTA on Class 8 truck market
To enquire about the report write to us at [email protected]
The report can be purchased at https://mobilityforesights.com/product/class-8-truck-market-in-north- ... 17-2022-2/
We are a market research firm specialized in mobility domain(s). Our zone of research entails Automotive, Aerospace, Marine, Locomotive, Logistics and Transportation. We deal in syndicated research, custom research and consumer research for all the above domains mentioned.
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