DUBLIN, July 30, 2021 /PRNewswire/ — The “European Medium & Heavy Truck Market – 2021-2026 – Market Dynamics, Competitive Landscape, OEM Strategies & Plans, Trends & Growth Opportunities and Market Outlook – Daimler, Volvo, Traton – MAN & Scania, DAF, Iveco” report has been added to ResearchAndMarkets.com’s offering.
The Global Trucking industry had been impacted significantly by the outbreak of COVID-19 in 2020 (with the clear exception of China), with declining volumes as well as profitability across OEMs with recovery seen in the later part of the year, led, primarily by the unprecedented surge in e-commerce volumes. The registration of heavy trucks in the EU plummeted in 2020 with a 27% year-on-year decline owing to pandemic & the imposition of spate of lockdowns across most EU nations.
Europe has been the core pivot and traditional flag-bearer for technological evolution of the global trucking industry given the critical role it plays in the European economy with over 75% of the freight within the continent moving by road and this trend is likely to be sustained over long term. The continent is also a trucking powerhouse and is home to three of the world’s trucking behemoths, namely, Daimler, Volvo and the VW group which have traditionally dominated the global truck market with their size and scale of operations along with technological prowess.
The first half of the year 2021 has witnessed a steady improvement in freight prices as well as volumes across the EU, driving an uptick in freight market, which drove a surge in order intake across industry OEMs while operators moved swiftly to renew as well as expand their existing fleets. The industry also continues to make steady progress towards development of sustainable technologies geared towards de-carbonization of transportation. The efforts have primarily been led by battery-electric & fuel cell technologies with the tipping point for electric trucks likely to come in form of the commencement of serial assembly of electric trucks across trucking giants, Daimler & Volvo, apart from most other OEMs; over near term. Further, mass market production & introduction of hydrogen powered trucks across Europe by 2030, too, is taking shape under the H2Accelerate initiative by the industry geared towards sustainability.
The rapid move towards de-carbonization of transportation & transition towards sustainability; along with Connectivity & Autonomous technologies; is collectively likely to drive significant replacement demand over medium term across most traditional markets. Also, it has already led to a spike in M&A activity, JVs & partnerships amongst leading industry players with the same likely to see a further uptick going forward. Further, the sustained rise in global crude oil prices is likely to give a further stimulus to transition towards alternate drivetrains across operators.
The Global Demand for medium & heavy trucks is projected to register a steady recovery & growth over near to medium term with most key global economies likely to witness an uptick in demand following the pursuit of fiscal intervention measures by nations & governments across most regions going forward coupled with strong global economic recovery projections by the IMF for 2021 & 2022, led by the U.S. However, managing supply side delays & disruptions, especially for semi-conductor chips, owing to the pandemic and its uncertain trajectory going forward, will be crucial to sustaining recovery over near term which is likely to continue well into 2022.
The heavy-truck registrations in the EU are projected to be back to the pre-pandemic levels during the second half of 2021 with even a high single digit growth in heavy truck registrations, over the 2019 levels, projected for 2021, based on the prevailing order book positions across OEMs.
- DAF N.V.
- Daimler AG
- Iveco S.p.A.
- MAN SE
- Scania AB
- Volvo AB
Key Topics Covered:
Part 1: Market Size, Segmentation & Competitive Landscape
- European Medium & Heavy Truck Market (EU+EFTA)
- Competitive Landscape – European Market for Medium & Heavy Trucks – Market Share for OEMs
Part 2: Analysis on Key Industry OEMs
- Top 6 Industry OEMs – Profiles & Product Portfolio Snapshot
- Financial Performance Analysis – Top 6 Industry OEMs
- OEM Strategies & Plans – Comprehensive Analysis of Strategies & Plans for Top 6 Industry OEMs – Daimler, Volvo, MAN, Scania, Iveco & DAF
- SWOT Analysis – On Top 6 Industry OEMs
Part 3: Market & Technology Trends, Emerging Demand Scenario and Strategic Market Outlook through 2026
- Key Trends
- Key Issues, Challenges & Risk Factors
- European Medium & Heavy Truck Market – Force Field Analysis – Analysis of Driving & Restraining Forces and their Overall Dynamic
- Strategic Market Outlook through 2026
For more information about this report visit https://www.researchandmarkets.com/r/e0coqc
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets