Market Analysis
The Global High-Performance Market Size will Grow at a 4% CAGR Between the Forecast Period, according to the new Market Research Future (MRFR) analysis. A high-performance truck is armed with an electric control system and powerful motors, and also a traction system. It is of two types- pickup trucks and medium & heavy-duty trucks.
Various factors are propelling the global high-performance trucks market share. According to the recent MRFR market estimates, such factors include rise in the utility of high-performance traction system and high-performance truck, affordability of intelligent electric control systems & powerful motors, increasing investments by buyers in the up-gradation and customization of trucks, growing need for special application trucks having high engine power needs, rising focus on fuel economy standards, need for long-haul trucks for effective transportation of goods, and growing demand for lng fuelled high-performance trucks segment.
Additional factors adding market growth include the introduction of rigorous emission norms by the government worldwide, growing supply of temperature-sensitive materials, growing demand for refrigerated high-performance trucks, booming retail industry, demand for frozen perishable commodities, significant improvement in infrastructure, and these trucks being equipped with advanced features for better performance.
On the flip side, high manufacturing cost, limited electrification scope of these high-performance trucks, and the ongoing COVID-19 impact may deter the global high-performance trucks market growth over the forecast period.
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Segment Study
The high-performance truck market segment study is based on transmission type, application, and vehicle type.
The transmission type based, the high-performance truck market segments are Semi-automatic, Automatic, and Manual. The semi-automatic segment can gain high traction, hence substantial revenue.
The vehicle type based, high-performance truck market segments are Conventional Pickups, Long-Haul Trucks, Sports Trucks, and Crew Cab among others. The increase in the Crew Cab utility can boost the expansion of the high-performance truck market in the years to come.
The application based segments of the high-performance truck market are Dumping, Container, Tanker, Distribution, and Refrigeration among others.
The engine based segments of the high-performance truck market are Gasoline and Diesel. The wide range of application of diesel driven vehicles can prompt the expansion of the high-performance truck market in the years ahead.
Regional Study
The high-performance truck market in Asia Pacific region can dominate the worldwide high-performance trucks market. Major factors that can contribute to the expansion of the high-performance truck market are the introduction of strict traffic regulatory norms and rapid developments such as axle loading. The inclination of consumer towards premium trucks can also underpin the expansion of the market across the study period. The hosting of major sports events in Asian regions have resulted in high a high demand for high-performance dumping trucks, which can bolster the expansion of the regional market. In Europe and North America, high demand for effective heavyweight transport and availability of modern transport facilities and technologies can boost the high-performance truck market growth in these regions across the review period.
Key Players
The prominent players in the high-performance trucks market include ZF (Germany), Chevrolet (U.S.), Dodge (U.S.), GMC (General Motors Truck Company) (U.S.), Toyota Motor Corporation (Japan), Volvo trucks (Sweden), Paccar Inc. (U.S.), Daimler Trucks North America LLC (U.S.), Caterpillar Inc. (U.S.), MAN Truck & Bus AG (Germany) and Cummins (U.S.) others.
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