In the automotive industry, special purpose vehicles are primarily manufactured to perform specific tasks. Consequently, these vehicles are equipped with special equipment to be driven by own engine or separately mounted engine. Most times, special purpose vehicles are heavy duty vehicles, such as dump trucks and tank trucks. However, special purpose vehicles also consist of dump trucks, concrete pumps, along with pneumatic bulk carriers, and tank trailers. These vehicles are utilized in various industries including chemical, petroleum, and construction.
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Special purpose vehicles are mostly employed in the construction and logistic sectors as well as garbage collection vehicles. Expansion of the construction industry in countries, such as China and India, owing to active participation from the private sector, is anticipated to boost the special purpose vehicle market during the forecast period. Expansion of the logistic sector is anticipated to fuel the demand for special purpose pneumatic bulk carriers and tank trailers, which in turn is projected to boost the special purpose vehicle market.
The special purpose vehicle market can be segmented based on application, end-use industry, and region. Based on application, the special purpose vehicle market can be classified into concrete pumps, dump trucks, bulk carriers, and others. Requirement of precise machinery and demand for highly technical machinery in the construction sector is anticipated to boost the demand for concrete pumps. Similarly, rising demand for special dump trucks for activities such as garbage collection and construction activities and others likely to grow special purpose vehicle market.
Key players operating in the special purpose vehicle market are Kyokuto Kaihatsu Kogyo Co., Ltd, Nandan GSE, Hi-Tech Services, and Seamless Autotech Pvt. ltd.
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