Jan 16, 2019   SOURCE: BusinessWire

Heavy-Duty Trucks Market in Europe 2019-2023 | Adoption of Autonomous Technologies to Drive Growth | Technavio

The research report on the heavy-duty trucks market in Europe by Technavio predicts the market to post a CAGR of around 3% during the period 2019-2023.

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Technavio forecasts heavy-duty trucks market in Europe to post a CAGR of around 3% between 2019-23. ...

Technavio forecasts heavy-duty trucks market in Europe to post a CAGR of around 3% between 2019-23. (Graphic: Business Wire)

A key driver for the heavy-duty trucks market in Europe is the growing demand for HD trucks from truck rental service providers. HD truck manufacturers have been witnessing a substantial increase in their sales volume. This can be attributed to the relatively greater adoption of HD trucks in truck rental services when compared with retail sales. Builders and fleet managers are expected to rent more trucks with residential construction gaining traction. The growing demand for truck rental services will result in service providers increasing their fleet portfolio to satisfy this growing demand.

As per Technavio, the adoption of autonomous technologies in HD trucks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report on the heavy-duty trucks market in Europe 2019-2023 also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

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Heavy-duty trucks market in Europe: Adoption of autonomous technologies in HD trucks

The truck manufacturers have been focusing on integrating autonomous and semi-autonomous technology within HD trucks to increase their utility. For instance, Tesla has launched an electric truck Tesla Semi, which has an enhanced autopilot system. For automatic lane tracking and automatic braking, the vehicle is equipped with a wide array of electronic systems. The vehicle can form a convoy with other Tesla Semi Trucks in autopilot mode and drive under a stipulated speed on the highways.

“Hino Motors added Al to its hybrid HD trucks in 2018 to enhance their fuel efficiency. The company is expected to add the Al system to its Hino Profia trucks in Japan in mid-2019. This will allow them to use GPS and gyro sensors that sense rotational motion to assess the best way to manage the power system efficiently. The adoption of Al is emerging as a crucial factor in making HD trucks more efficient,” says a research analyst at Technavio.

Heavy-duty trucks market in Europe: Segmentation analysis

This market research report on the heavy-duty trucks market in Europe segments the market by type (HD trucks from 3.5 to 16 tonnes and HD trucks over 16 tonnes) and regions (France, Germany, and Rest of Europe).

The HD trucks over 16 tonnes segment held the largest heavy-duty trucks market share in 2018, accounting for over 85% of the market. This segment is expected to dominate the global market throughout the forecast period.

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Market Segmentation

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Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
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  • Competitive scenario

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