The vocational truck is a conventional truck designed to carry out special jobs such as garbage collection, concreate mixing, tree trimming, and fire-fighting. Vocational trucks are custom built on a truck chassis with self-propelled or trailer mounted configurations.
Economic growth across the globe along with rise in construction activities and rise in consumer confidence are boosting the sales of vocational trucks. Stability in commodity prices and steady expansion of the mining industry is driving the demand for vocational trucks, such as dump trucks, that are widely used in mining. The infrastructure plan of US $ 1.7 Trn by the U.S. Government and China’s “One-Belt Drive” initiative are expected to boost the construction industry and in turn drive the demand for vocational trucks in these countries. Rising urbanization worldwide is fueling the demand for vocational trucks that are required for utility services, ambulances, refuse, and firefighters.
Purchase our Premium Research Report At:https://www.transparencymarketresearch.com/checkout.php?rep_id=57297<ype=S
Technological trends in the vocational truck market are driven by environmental regulations. Mack Trucks developed an electric refuse truck in 2018. A leading electric vehicle manufacture, BYD, introduced an electric refuse truck in 2017. Vocational trucks used for light utility applications are expected to undergo electrification. Manufacturers are integrating EGR and other emission reduction technologies in these trucks to meet the stringent Euro and EPA standards. Most players in the vocational truck market manufacture either chassis or body structure. However, a few manufacturers, such as Freightliner, deliver the entire vocational truck for the end purpose.
Manufacturing of vocational trucks requires custom building and thus, requires various manufacturing platforms according to end-industry, which add to the operational costs.
The global vocational truck market can be segmented based on industry, vehicle type, and region. Based on industry, the vocational truck market can be classified into construction & refuse, specialized hauling, and food & beverage. The construction & refuse segment is estimated to hold a prominent share of the market during the period owing to the high usage of concrete trucks and dump trucks
In terms of vehicle type, the global vocational truck market can be divided into light-duty vocational vehicle and medium & heavy-duty vocational truck. Demand for light duty vocational trucks is rising in the U.S. Fleet managing companies, such as Verizon, have a fleet of 42,000 light duty vocational trucks for telecommunication services. The light duty vehicles are easy to customize or modify on the existing chassis platform of pick-up or van. Light duty vehicles are widely utilized as food trucks in the food & beverage industry.
Get More Press Releases by TMR: https://www.prnewswire.com/news-releases/smart-toys-market-to-observe-stellar-growth-in-future-with-growth-projected-at-whopping-36-4-cagr-for-2018—2026–integration-of-futuristic-internet-of-toys-technology-to-open-large-growth-vistas—tmr-301266764.html
In terms of region, the vocational truck market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America led the global vocational truck market owing to the high production of vocational trucks in the U.S. The vocational truck market in Asia Pacific is estimated to expand significantly during the forecast period due to high construction activities in China & India.
Key players operating in the global vocational truck market include Volvo Group, BYD, PACCAR Inc, and Daimler AG.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
North America
Asia Pacific
Europe
Latin America
The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here’s how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Automotive Industry
TMR’s market research reports on the automotive and transport industry provides a forward-thinking analysis of innovations that are expected to set new trends in this industry. The integration of next-gen technologies that is powering a transformation in the automotive and transport industry is well covered in the vast array of reports curated for this industry. Autonomous vehicles, electric vehicles that are reckoned to be revolutionary for passenger travel in the future, and their repercussions on the existing fabric of demand in the automotive sector are studied in detail to present a well-gauged analysis of the automotive and transport industry for the coming years.
TMR has a track record to provide ace market research solutions that has earned us the trust of our clients for their business intelligence needs. Serving 13 industry verticals with a database of over 1,000 reports and 1 million + data points, our expanse to provide market research solutions is exceptional. We deep dive for a thorough understanding of the subject, gather precise information, and then analyze it to present solutions that are par excellence.
Contact us:
Transparency Market Research
State Tower,
90 State Street, Suite 700,
Albany NY – 12207,
United States
Tel: +1-518-618-1030 Email: [email protected]
Website: https://www.transparencymarketresearch.com
https://todaysmarkettrends.wordpress.com
