Global trucking market: Brazil sees 13% growth in demand for heavy trucks during 2012
Annual Industry Dossier - Global Trucking Industry - 2013-2014 - Key Trends, Strategic Insights, Issues & Challenges, SWOT, Force Field Analysis & Strategic Outlook - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-04 15:09:02
The global trucking industry is facing difficult times with a slow start to 2013 that saw sluggish sales and pressure on order intake across most industry OEMs emanating from the demand slump experienced during the second half of 2012. Thus, the European industry for heavy duty trucks contracted by 13% during H1 2013 as against year ago levels with demand impacted by the difficult economic conditions while the North American market registered a decline of 11% on the back of an ongoing economic recovery in the U.S. with replacement demand in Class 8 & improvements in the construction truck segment amongst key positive developments for the industry.
Amongst emerging markets, Brazil registered 13% growth in demand for heavy trucks segment driven by economic stimulus, good crop season & ongoing investments towards infrastructure development with upcoming, key international sporting events.
Sales levels, however, showed signs of improvements during Q2 across OEMs and almost all major OEMs have been aligning production levels in-line with the demand consequently. Almost, all key emerging economies on the other hand, especially China, grapple with inflationary pressures & are trying to stoke up economic growth momentum under a difficult, complex, challenging & uncertain Global Macroeconomic Environment. Most leading OEMs, thus, continue with their focus on development of new platforms as part of their product portfolio renewal strategy that has been a key demand driver.
The OEMs also continue to develop & roll-out sustainable alternate fuel based powertrain technologies aimed at enhanced operating economics, in addition, to continued efforts towards further strengthening & deepening of existing presence across emerging markets, in order, to partially offset the ongoing demand slump in Western Europe & Latin America. Overall, the global truck market is projected to grow at 3%-4% annually over the medium term till 2020 with strong growth prospects over the long-term.
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