The company says report analyzes as to how the industry OEMs are positioned and are gearing up for the highly dynamic and rapidly evolving trucking landscape based on a comprehensive analysis of their strategies and plans.
The report analyzes the North American Class 6-8 truck market in a unique, three-tiered methodology with the initial sections focusing on market size and competitive landscape followed by the middle sections focused on in-depth analysis of the OEMs with strategy as the core pivot, Research and Markets says. The last section focuses on analyzing key trends, issues and challenges likely to shape the future, outlining potential growth opportunities and projecting market outlook as well as demand growth projections for the near to the medium horizon.
Research and Markets says right now the North American Class 6-8 truck market continues to cruise smoothly propelled by a strong and favorable macroeconomic environment in the U.S. marked by a strong uptick in freight demand as well as rates in a favorable crude oil price environment boosting fleet utilization as well as profitability across operators giving a boost to fleet renewals.
The trucking industry is on the cusp of a technology-led transformation phase marked by confounding uncertainties and disruptions with the electrification of trucks almost nearing the inflection point, the company says.
Additionally, the focus on CASE (Connected, Autonomous, Shared & Services, and Electric) technologies continues to be at the core of this transformation with OEMs continuing to integrate an array of sensors, equipment and technologies onboard trucks which is likely to lead to the evolution of a number of new business models and concepts.
The battle for electric trucks is getting fierce with almost all leading industry OEMs joining the fray with plans to foray into the electric trucks segment as they face a significant challenge from start-ups and new industry entrants. These electric trucks are likely to be commercially produced and hit the market at the turn of the decade with the same likely to bring in tectonic shifts to the traditional trucking landscape and market dynamics forever, Research and Markets says.
Finally, the current phase of the trucking industry’s development and its likely evolution over medium term quintessentially is going to be defined and shaped by technology which has been rapidly evolving and is poised to disrupt markets at a lightning pace.
The industry OEMs and players that are able to adopt, invest in and incorporate right technologies for right applications to deliver overall value to customers, end users and stakeholders while creating significant competitive advantages for themselves by leveraging this technology led differentiation will be at the forefront of the one of the most disruptive phases for the industry going forward, Research and Markets says. The company adds this phase is likely to be marked by the introduction of a number of technology-enabled entirely new business models, concepts and solutions.
For more information, and to download the report, please CLICK HERE.
