High Performance Trucks Market

Introduction of the High Performance Trucks Market Report

Over the past few decades, trucks are widely used for heavy-duty work. However, with the technological advancements, the modern automakers are focusing on introducing high-performance lorries, which can be used for daily usage and has improved fuel efficiency.

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Market Dynamic

Key Drivers and Emerging Trends

The significant shift in the preference towards off-road vehicles and the increasing attraction towards liveability to these vehicles are the major factors that are responsible for the growth of the high performance trucks market size during the forecast period. Various leading players such as Ford Motor and General Motor are emphasizing on introducing electric high-performance truck in the market. The high performance electric truck provides a powerful electric powertrain and has the best interior and other options which include touch screen, panoramic glass, and leather seats. In 2019, Tesla introduced the Cybertruck in three variants: tri-motor AWD, dual-motor AWD, and single-motor rear-wheel-drive. In addition to this, Amazon and Ford provided funds to startup “Rivan”, one of the leading startups for the electric pickup market for its model RIT. This startup has trucks with 400-mile range and an 18-kilowatt-hour battery pack.

Various players in the market are planning to expand their product offering as well as production facilities to meet the growing demand for high performance trucks. In 2020, Ford Motor inaugurated its new manufacturing plant in Dearborn, Michigan, to produce electric F-150. Moreover, the company invested USD 700 million to develop Rouge Electric Vehicle Center, for the production of F-150 Power Boost hybrid and fully electric F-150. In 2018, it also announced to spend approx. USD 11 billion for the production of 40 hybrid and full electric vehicles in its model line-up.

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Transmission Type – Segment Analysis

Based on the transmission type, the semi-automatic transmission is expected to dominate the market over the forecast period. Several advantages such as better comfort level and higher fuel efficiency, are attracting end-users towards this segment in the market. Moreover, this type of truck has a lower cost when compared with the automatic transmission system, which has led to an increased usage of these trucks, particularly in Asian countries.

Power Output – Segment Analysis

Based on the power output, the 250-450 is anticipated to witness a faster CAGR during the forecast period. This is attributed to the strong demand for higher capacity trucks, especially for applications such as waste management and distribution. This type of truck is increasingly used in city distribution where freight load is not high. Furthermore, the continuous expansion in the organized logistics sector has resulted in surged demand for rigid trucks for distribution purposes in Europe and North America.

Fuel Type – Segment Analysis

Based on the fuel type, the LNG truck is anticipated to witness a faster CAGR during the forecast period. The rising stringency of emission norms has pushed engine manufacturers to introduce low-emission alternative fuel engines. The U.S. and European governments are emphasizing on developing more CNG & LNG fuelling stations and are supporting the usage of alternative of fuel-powered commercial vehicles.

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Regional – Segment Analysis:

Based on the region, North America region is predicted to dominate the market during the forecast period. The U.S. is one of the leading resale market for high performance trucks at the global level. Despite of the adverse impact of the COVID-19, the sales of these trucks have increased in the U.S. In 2019, Hyundai invested USD 410 million to expand its Montgomery plant. Moreover, the leading players are launching new truck models in the market. In 2020, Fiat Chrysler introduced its new performance pickup truck, Ram 1500 TRX, with 6.2 litre supercharged Hemi V8 engine capacity of 702 horsepower and 650 foot-pounds of torque.

Top Market Players

Various notable players operating in the market include Volvo Corporation, Daimler AG, Scania, Toyota Motor, Ford Motor, General Motors, FCA, Nissan Corporation, PACCAR Inc., and MAN, among others. 

Key Developments:

• • In 2019, General Motors invested USD 150 million in its Flint truck assembly plant to increase full-size pickup truck production.

Segments covered in the Report:

The global high performance trucks market has been segmented on the basis of vehicle type, power output, application, fuel type, transmission type, and regions. Based on vehicle type, the market is segmented into medium- & heavy-duty trucks, electric trucks, and pickup trucks. Based on power output, the market is segmented into 250-400HP, 401-550HP, and >550HP. Based on application, the market is segmented into refrigeration, dumping, special application, tanker, RMC, container, and distribution. Based on fuel type the market is segmented into diesel, CNG and LNG. Based on Transmission Type, the market is segmented into automatic transmission, semi-automatic transmission, and manual transmission. 

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Key questions answered in this research report:

• • At what pace is global high performance trucks market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in high performance trucks market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global high performance trucks market?
  • Which vehicle type generated maximum revenues in 2019 and identify the most promising vehicle type during the forecast period?
  • What are the various power output areas of global high performance trucks market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Vehicle Type, By Power Output, By Application, By Fuel Type, By Transmission Type, and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Volvo Corporation, Daimler AG, Scania, Toyota Motor, Ford Motor, General Motors, FCA, Nissan Corporation, PACCAR Inc., and MAN, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global High Performance Trucks Market by Vehicle Type

• • Medium- & Heavy-Duty Trucks
  • Electric Trucks
  • Pickup Trucks

Global High Performance Trucks Market by Power Output

• • 250–400 HP
  • 401–550 HP
  • >550 HP

Global High Performance Trucks Market by Application

• • Refrigeration
  • Dumping
  • Special Application
  • Tanker
  • RMC
  • Container
  • Distribution

Global High Performance Trucks Market by Fuel Type

• • Diesel
  • CNG
  • LNG

Global High Performance Trucks Market by Transmission Type

• • Automatic Transmission
  • Semi-Automatic Transmission
  • Manual Transmission

Global High Performance Trucks Market by Region

• • North America High Performance Trucks Market (Option 1: As a part of the free 25% customization)
    • North America High Performance Trucks Market by Vehicle Type
    • North America High Performance Trucks Market by Power Output
    • North America High Performance Trucks Market by Application
    • North America High Performance Trucks Market by Fuel Type
    • North America High Performance Trucks Market by Transmission Type
    • US High Performance Trucks Market All-Up
    • Canada High Performance Trucks Market All-Up
  • Europe High Performance Trucks Market (Option 2: As a part of the free 25% customization)
    • Europe High Performance Trucks Market by Vehicle Type
    • Europe High Performance Trucks Market by Power Output
    • Europe High Performance Trucks Market by Application
    • Europe High Performance Trucks Market by Fuel Type
    • Europe High Performance Trucks Market by Transmission Type
    • UK High Performance Trucks Market All-Up
    • Germany High Performance Trucks Market All-Up
    • France High Performance Trucks Market All-Up
    • Spain High Performance Trucks Market All-Up
    • Rest of Europe High Performance Trucks Market All-Up
  • Asia-Pacific High Performance Trucks Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific High Performance Trucks Market by Vehicle Type
    • Asia-Pacific High Performance Trucks Market by Power Output
    • Asia-Pacific High Performance Trucks Market by Application
    • Asia-Pacific High Performance Trucks Market by Fuel Type
    • Asia-Pacific High Performance Trucks Market by Transmission Type
    • China High Performance Trucks Market All-Up
    • India High Performance Trucks Market All-Up
    • Japan High Performance Trucks Market All-Up
    • Rest of APAC High Performance Trucks Market All-Up
  • RoW High Performance Trucks Market (Option 4: As a part of the free 25% customization)
    • RoW High Performance Trucks Market by Vehicle Type
    • RoW High Performance Trucks Market by Power Output
    • RoW High Performance Trucks Market by Application
    • RoW High Performance Trucks Market by Fuel Type
    • RoW High Performance Trucks Market by Transmission Type
    • Brazil High Performance Trucks Market All-Up
    • South Africa High Performance Trucks Market All-Up
    • Saudi Arabia High Performance Trucks Market All-Up
    • UAE High Performance Trucks Market All-Up
    • Rest of world (remaining countries of the LAMEA region) High Performance Trucks Market All-Up

Major Players Operating in the High Performance Trucks (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Volvo Corporation
  • Daimler AG
  • Scania
  • Toyota Motor
  • Ford Motor
  • General Motors
  • FCA
  • Nissan Corporation
  • PACCAR Inc.
  • MAN