Below are some of the key findings from the on-highway vehicle market research report
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Global on-highway vehicle industry overview
The increasing penetration of downsized engines is one of the major factors driving the on-highway vehicle market growth. Several OEMs are focusing on developing downsized engine blocks to decrease the kerb weight, improve fuel efficiency, and limit the formation of emissions. Most manufacturers equip turbochargers within diesel engines to increase the amount of air taken in for combustion, which in turn allows more fuel to burn and enables higher output. The growing penetration of downsized engines will reduce production costs. This is encouraging manufacturers to adopt diesel turbocharger with downsized engines over gasoline turbocharger.
The integration of advanced safety technologies in on-highway vehicles is a rapidly growing on-highway vehicle market trend. To reduce fatalities and make vehicles safe, manufacturers are installing advanced safety systems like emergency brake assist, lane departure warning system, collision mitigation warning, blind spot detection, and automatic emergency braking system. These technologies increase the safety rating of vehicles and increase their demand among customers. According to this on-highway vehicle market forecast, driven by these factors the market will grow at a CAGR of over 4% during the forecast period.
Top on-highway vehicle companies covered in this market research report
The on-highway vehicle market is moderately fragmented. The market is in the late growth stage and will enter maturity during the forecast period. The vendors in the on-highway vehicle market compete by offering various products such as buses, coaches, trucks and heavy-duty trucks. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this on-highway vehicle industry analysis report will aid clients to identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of various companies including:
- Daimler
- Hyundai Motor
- Toyota Motor
- Volkswagen
- Volvo
On-highway vehicle market segmentation based on geographic regions
- Americas
- APAC
- EMEA
Global on-highway vehicle market analysis reveals that the APAC region will dominate the on-highway vehicle market share, led by China, India, Japan, and South Korea as the major markets. The EMEA region will account for the highest on-highway vehicle market growth throughout the forecast period, driven by strict environmental regulations impelling advancements in fuel engine technology and fuel efficiency.
On-highway vehicle market segmentation based on vehicle types
- Trucks
- Buses
- RVs
The trucks segment will account for the largest on-highway vehicle market share and the highest on-highway vehicle market growth rate. Additionally, the report also provides an accurate prediction of the contribution of the various vehicle types to the growth of the on-highway vehicle market size.
Key highlights of the global on-highway vehicle market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the on-highway vehicle market during the next five years
- Precise estimation of the global on-highway vehicle market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the on-highway vehicle industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of on-highway vehicle companies
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