Nov 21, 2023   SOURCE: BusinessWire

Top 5 Medium & Heavy Truck Manufacturers Annual Strategy Dossier 2023: Good Freight & Construction Activity and Amid Uncertain Global Macroeconomic Environment and Production Capacity Constraints. - ResearchAndMarkets.com

The "World's Top 5 Medium & Heavy Truck Manufacturers - Annual Strategy Dossier - 2023 - Strategy Focus & Priorities, Key Strategies & Plans, SWOT, Trends & Growth Opportunities and Market Outlook - Daimler, Volvo, Traton, PACCAR, Iveco" company profile has been added to ResearchAndMarkets.com's offering.

Trucking Projected to maintain its Cruising Speed & Growth Momentum in 2023 led by Ageing In-Service Fleets,

The Global medium & heavy truck market witnessed a dynamic year in 2022 with the demand for new & used trucks consistently outpacing supply across most key global markets with the exception of China. The industry OEMs have been vying to increase production rates to meet surging demand levels, with the book-to-bill ratios hovering around 1, while battling continued supply chain disruptions, production capacity constraints, component shortages, rising input costs in an increasingly complex & uncertain global macroeconomic environment marked by inflationary pressures, rising interest rates & tectonic geopolitical shifts.

The ongoing transition towards de-carbonization, led by the mass production of battery electric & hydrogen fuel cell based trucks, is the trucking industry's current overarching theme and is likely to gain further momentum going forward. Most key industry OEMs are now transitioning towards series production of Zero Emission Vehicles (ZEV) while also collaborating amongst each other and with domain specialists for creation of the requisite ecosystem for the transition towards sustainability. Additionally, automation, electrification and further evolution of connectivity based service models configured on digitalization remain key areas of focus across truck manufacturers

The high average age of in-service truck fleets across most markets owing to production capacity constraints over the recent years, rapid energy transition towards de-carbonization and strong construction activity with continued infrastructure investments are likely to collectively provide significant growth opportunities to the industry over near to medium term, in form of fleet replacements, expansion & recapitalizations, especially, in a volatile & uncertain crude oil price environment from an economics & policy perspective. That's despite projections for the slowdown of the world economy over near term owing to market headwinds, ongoing war in Ukraine and rising inflation levels which have led to a wave of monetary policy tightening across the globe

Trucking, thus, is projected to maintain its overall cruising speed as well as growth momentum in 2023 across most markets with a year-on-year growth of up to 10% projected for traditional markets, i.e., North American Class 8 and EU30 market for heavy trucks, while the growth rate for emerging markets in Asia, led by China and India, is likely to be around 15%

Against this backdrop, the report provides comprehensive insights & strategic analysis into the World's Top Medium & Heavy Truck Manufacturers

Report Excerpts:

  • Analysis of Daimler's ambitious plan to achieve 60% market share in the Global Zero-Emission Vehicles (ZEVs) Market by 2030 and plans to produce only ZEVs by 2039. Also, decryption of Daimler's medium term technology strategy underpinned by rapid transition to sustainable & autonomous technologies marked by significant R&D investments
  • Adoption of collaboration route by industry behemoths, namely, Daimler, Volvo & Traton to accelerate the journey towards electrification
  • Volvo's rapid electrification of its heavy truck portfolio, focus on growing services business and plans to turn Asia and North America into key pivots of its medium term growth strategy
  • PACCAR's rapid strides on the technology development pathway with focus on electrification, hydrogen-based propulsion & autonomous technologies powered by strategic industry collaborations
  • Navistar's 4.0 Strategy focused on boosting profitability with a EBITDA target of 12% for 2024 while focusing on gaining market share through new product offerings and customer segmentation
  • Trucking projected to maintain its cruising speed & overall growth momentum in 2023 across most markets with strong Demand drivers, Indicators & Market fundamentals

Key Topics Covered:

  • Business Snapshot & Overview - World's Top 5 Medium & Heavy Truck Manufacturers
  • Financial Performance Analysis
  • Overarching Strategy Focus & Strategic Priorities across Industry OEMs
  • Daimler Truck AG
  • Volvo AB
  • Traton Group - Man, Scania, Navistar & VW Truck & Bus
  • PACCAR Inc.
  • Iveco Group
  • Key Strategies & Plans for the Industry OEMs - Comprehensive Analysis of Strategies & Plans for the Industry OEMs - Analysis Coverage:-
  • SWOT Analysis - On Key Industry OEMs
  • Key Industry Trends
  • Key Market Trends
  • Key Technology Trends
  • Key Issues, Challenges & Risk Factors
  • Global Medium & Heavy Truck Market - Force Field Analysis - Analysis of Driving & Restraining Forces and their Overall Dynamics
  • Strategic Market Outlook through 2026

For more information about this company profile visit https://www.researchandmarkets.com/r/3iduo

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