Report: Medium, heavy-duty sales will grow globally this year
Economic downturn in Europe and minimal expansion in truck demand in North America will largely be offset by robust growth in Next-11 and other Rest of World (RoW) markets, resulting in global medium-heavy truck sales reaching 2.8 million this year.
“Although the economy is expected to improve, there is cautious optimism amongst commercial vehicle OEMs in the TRIAD markets of North America, Europe and Japan,” said Frost & Sullivan Industry Analyst Bharani Lakshminarasimhan . “The research revealed that many of these OEMs will not only continue to focus greater efforts on the growing markets of Brazil, Russia, India and China (BRIC), but also expand to the Next-11 and African markets, while introducing groundbreaking technologies in their home markets.”
New research from Frost & Sullivan finds that platform-based truck production and advanced powertrain, safety, telematics, and cabin design technology integration will experience significant growth in 2013. This year, 1 in 5 of every heavy-duty trucks sold are expected feature platform based lineage. The global market for low-cost trucks is also expected to continue strong growth with a CAGR of 8.6 percent over the 2009 to 2017 period.
The global medium-heavy truck market will continue facing strong headwinds, the report says, as Western Europe experiences considerable decline in new truck sales and volatile energy prices, keeping consumers in many parts of the world from buying new equipment.
The next frontier for commercial vehicles, the report cites, is an increase in advanced technologies, creating the foundation for the next generation of smarter commercial vehicles, particularly within North America, Europe and Asia-Pacific. Of these markets, OEMs in North America and Europe will put their focus on “soft technologies,” such as telematics, cabin design and safety technologies, while Asian OEMs will put a greater emphasis on creating powertrain technologies that are governmental regulation compliant and have fuel-efficiency.
“Overall advanced technologies, such as natural gas powertrain, integrated safety technologies, health, wellness and well being enablers, and connectivity technologies are expected to receive a major boost globally,” concludes Lakshminarasimhan.