European Medium & Heavy Truck Market Report 2023-2027: Checking the Industry's Pulse - The Path to Sustainable Horizons

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Aug 15, 2023, 06:30 ET

DUBLIN, Aug. 15, 2023 /PRNewswire/ -- The "European Medium & Heavy Truck Market - 2023-2027 - Market Dynamics, Competitive Landscape, OEMs' Strategies & Plans, Trends & Growth Opportunities and Market Outlook" report has been added to ResearchAndMarkets.com's offering.

Embarking on a comprehensive exploration of the European Medium & Heavy Truck Market, this report presents a blend of quantitative and qualitative analysis that offers comprehensive insights and strategic understanding.

Divided into three distinct parts, the report offers an illuminating perspective on this dynamic industry. Part 1 delves into the core of the matter by scrutinizing the market size, drivers, and the competitive landscape that shape the European Medium & Heavy Truck Market. In Part 2, a closer examination unfolds as key industry Original Equipment Manufacturers (OEMs) take the spotlight.

With intricate profiles, snapshots of their product portfolios, financial analysis, SWOT framework analysis, and crucial insights into their strategic visions, Part 2 unveils the underlying mechanisms that drive these industry leaders. Building on these foundations, Part 3 projects the future, unveiling the likely evolution of the market over the medium term.

With an in-depth analysis of pivotal market and technological trends, challenges, issues, and promising growth opportunities, this section charts the course that the industry value chain could traverse. The report culminates by taking a panoramic view of market evolution and casting forward the demand outlook for the European Medium & Heavy Truck Market in the near to medium term horizon.

In the expanse of the European Medium & Heavy Truck market, steadfastness reigns supreme as it traverses the landscape of robust transport activity. The scenery is adorned with the presence of flourishing freight volumes and rates, complemented by the fleet utilization levels that stand robustly across operators. This collective dynamism fortifies the industry's aftermarket revenue stream, laying the groundwork for further expansion.

While the demand for new trucks and the backlog of orders hold their ground with resolute demeanor, an observable deceleration surfaces. This intriguing canvas paints a picture of a market scenario primarily navigated by supply dynamics. Within this context, the delivery of heavy trucks across the EU charts an impressive course, projecting a figure of over 300,000+ units for the year 2023.

The high average age of in-service truck fleets in the EU owing to production capacity constraints over the recent years, rapid energy transition towards de-carbonization and strong construction activity with continued infrastructure investments are likely to collectively provide significant growth opportunities to the industry over near to medium term in form of fleet replacements, expansion & recapitalizations, especially, in a volatile & uncertain global macroeconomic environment.

Further, the proposed Euro 7 emission standards for Trucks, which will be much more stricter & are scheduled to come into effect across EU from 2027, are likely to significantly increase the direct acquisition costs & indirect operating costs for the operators while having a limited impact on the environment with the industry instead pushing for a like-for-like replacement of existing fleets with electric alternatives rather than investing significantly towards R&D for complying with the proposed Euro 7 norms.

Trucking, thus, is projected to maintain its overall cruising speed as well as growth momentum over near term across most key markets with a year-on-year growth of up to 10% projected for traditional markets for 2023, i.e. North American Class 8 and EU30 market for heavy trucks, while the growth rate for emerging markets in Asia, led by China and India, is likely to be around 15%

The OEMs have been actively looking to increase production rates to meet demand levels while also adroitly managing ameliorating supply chain issues amid an increasingly uncertain & complex global macroeconomic environment marked by inflationary pressures, rising interest rates & tectonic geopolitical shifts underway. However, the second half of 2023 is likely to be significant for the industry as OEMs are likely to open fresh production slots for 2024, following slight easing of supply chain issues, which is likely to boost order intake by driving in new orders

The Trucking industry's ongoing transition towards de-carbonization, led by the mass production of battery electric & hydrogen fuel cell based trucks, has been the overarching theme over the recent years which is likely to gain further momentum going forward. Most key industry OEMs are now transitioning towards series production of Zero Emission Vehicles (ZEV), led by Daimler & Volvo, while also collaborating amongst each other and with domain specialists for development of the requisite ecosystem for transition towards sustainability.

Additionally, automation, electrification and further evolution of connectivity based service models remain key areas of focus for the truck manufacturers. The efforts have primarily been led by electrification, focused on both battery electric & hybrid technologies, with most industry OEMs transitioning towards series production & commercial deliveries of electric trucks.

This is likely to be followed by the mass market production, introduction & adoption of hydrogen-powered trucks in the 2030s which is likely to be supported & further accelerated by key initiatives, like the H2Accelerate program by the industry in EU to accelerate the uptake of green hydrogen, and the creation of First Movers Coalition geared towards jumpstarting the scalability of sustainable technologies through the end of the current decade

Report Excerpts

Trucking projected to maintain its overall cruising speed as well as growth momentum over near term across most key markets with a year-on-year growth of up to 10% projected for traditional markets for 2023, i.e. North American Class 8 and EU30 market for heavy trucks, while the growth rate for emerging markets in Asia, led by China and India, is likely to be around 15%.

The proposed & upcoming Euro 7 emission standards for Trucks, scheduled to come into effect across EU from 2027, are likely to significantly increase the direct acquisition costs & indirect operating costs for the operators

The European trucking industry pushing for a like-for-like replacement of existing fleets with electric alternatives rather than investing significantly towards R&D for complying with the proposed Euro 7 norms

Industry OEMs trudging the collaboration pathway as the preferred route for developing charging infrastructure & EV ecosystem across Europe for the gradual transition to electric mobility

Analysis of Daimler's ambitious plan to achieve 60% market share in the Global Zero-Emission Vehicles (ZEVs) Market by 2030 and plans to produce only ZEVs by 2039

Insights into Daimler's medium term growth strategy aimed at boosting profitability to 10%+ level in the EU by 2025. Also, plans for rapid transition to sustainable technologies under Daimler's medium term technology strategy

Trucking projected to maintain its cruising speed & overall growth momentum over near term propelled by strong market drivers, indicators & fundamentals and truck deliveries forecast through 2027

Key Topics Covered:

Part 1: Market Size, Segmentation & Competitive Landscape

Section 1: European Medium & Heavy Truck Market (EU+EFTA)

Market Overview
Market Size
Market Segmentation
Key Drivers

Section 2: Competitive Landscape - European Market for Medium & Heavy Trucks - Market Share for OEMs

Part 2: Analysis on Key Industry OEMs

Section 3: Business Snapshot & Overview - Top 5 Medium & Heavy Truck Manufacturers

Founded
Headquartered
Business Segments
Product Portfolio
Revenue Base
Market Capitalization
Key Executives
Shareholding/Ownership Structure

Section 4: Financial Performance Analysis

Revenue Base & Growth Trend
Revenues Split by Key Segments
Revenues Split by Key Geographic Markets & Regions
Gross Earnings & Margin Trend
Operating Earnings & Operating Margin Trend
Return on Sales Trend
Profitability Growth Trend
Cash Flow from Operations
R&D Expenditure Trend
CAPEX Trend
Order Intake & Backlog Trend

Section 5: Overarching Strategy Focus & Strategic Priorities across Industry OEMs - Europe's Top 5 Medium & Heavy Truck Manufacturers

Daimler Truck AG
Volvo AB
Traton SE - Including MAN & Scania
Iveco S.p.A.
DAF N.V.

Section 6: Key Strategies & Plans for the Industry OEMs - Comprehensive Analysis of Strategies & Plans for the Industry OEMs - Analysis Coverage

Product Portfolio Strategies & Plans
Market Specific Strategies & Plans
R&D Strategies & Plans
Growth Strategies & Plans
Business and Corporate Strategies & Plans
Sales & Marketing Strategies & Plans
Production/Manufacturing Strategies & Plans
Financial Strategies & Plans
Acquisitions, Strategic Alliances & JVs
Other Strategies & Strategic Initiatives

Section 7: SWOT Analysis - On Key Industry OEMs

Strengths to be Leveraged
Weaknesses to be worked on
Opportunities to be capitalized upon
Threats to be negated & mitigated

Section 8: Key Industry Trends

Section 9: Key Market Trends

Section 10: Key Technology Trends

Section 11: Key Issues, Challenges & Risk Factors

Section 12: Global Medium & Heavy Truck Market - Force Field Analysis - Analysis of Driving & Restraining Forces and their Overall Dynamics

Driving Forces
Restraining Forces

Section 13: Strategic Market Outlook through 2027

Analysis of Emerging Market Scenario for the European Medium & Heavy Truck Market
Demand Outlook - Medium Term
Growth Projections for the European Medium & Heavy Truck Market through 2027

For more information about this report visit https://www.researchandmarkets.com/r/svgd0l

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