Heavy-duty Trucks On-board Diagnostics System Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

The heavy-duty trucks on-board diagnostics (OBD) system market share is expected to increase by USD 73.50 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.09%.

This heavy-duty trucks on-board diagnostics system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers heavy-duty trucks on-board diagnostics system market segmentation by gross vehicle weight rating (Class 8 and Class 7) and geography (North America, APAC, Europe, South America, and MEA). The heavy-duty trucks on-board diagnostics system market report also offers information on several market vendors, including ACTIA Group, AVL DiTEST GmbH, Continental AG, Daimler AG, Moj.io Inc., Robert Bosch GmbH, Vector Informatik GmbH, Vidiwave Ltd., ZF Friedrichshafen AG, and Zubie Inc. among others.

What will the Heavy-duty Trucks On-board Diagnostics System Market Size be During the Forecast Period?

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Heavy-duty Trucks On-board Diagnostics System Market: Key Drivers and Trends

The need to reduce the total cost of ownership (TCO) of vehicles for fleet operators is notably driving the heavy-duty trucks OBD system market growth, although factors such as the high cost of vehicle telematics services may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the heavy-duty trucks on-board diagnostics system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Heavy-duty Trucks On-board Diagnostics System Market Driver

One of the key factors driving growth in the heavy-duty trucks on-board diagnostics system market is the need to reduce the total cost of ownership (TCO) of vehicles for fleet operators. Rising cost pressure due to fluctuations in fuel prices and inefficient fleet operations has become crucial challenges for fleet operators to tackle. For efficient cost management, fleet operators are adopting cost optimization strategies that allow them to reduce the TCO to an extent. Innovations and improvements to the vehicle engine can help optimize fuel consumption and enhance fleet management efficiency. As OBD helps monitor vehicle components, the data generated by each component is a valuable source of information to improve the component's design parameters. This data can also be used for assessing the best time for resale so that fleet managers do not face substantial losses due to the depreciation of the asset when it is maintained properly.

Key Heavy-duty Trucks On-board Diagnostics System Market Challenge

The high cost of vehicle telematics services will be a major challenge for the heavy-duty trucks on-board diagnostics system market during the forecast period. Initial costs of setting up telematics include license, setup and installation fee, and payment for customization and integration with current systems. OBD systems are used by vehicle owners to keep emissions under check and for preventive maintenance. The system is also used by technicians from repair and service stations. Due to expensive material costs and new innovative technologies, the cost of manufacturing an OBD system has increased considerably. The high cost of automobile-embedded telematics makes it difficult for manufacturers to keep their product prices low. Automobile manufacturers must either keep their profit margins low or shift the pressure onto end-users. However, in the current price-sensitive market, where customers are looking for products that give them maximum value for money, it has become difficult for manufacturers to shift the pricing pressure onto their customers. Therefore, manufacturers are compelled to keep their margins low.

This heavy-duty trucks on-board diagnostics system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Heavy-duty Trucks On-board Diagnostics System Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• ACTIA Group
• AVL DiTEST GmbH
• Continental AG
• Daimler AG
• Moj.io Inc.
• Robert Bosch GmbH
• Vector Informatik GmbH
• Vidiwave Ltd.
• ZF Friedrichshafen AG
• Zubie Inc.

This statistical study of the heavy-duty trucks on-board diagnostics system market encompasses successful business strategies deployed by the key vendors. The heavy-duty trucks OBD system market is concentrated and the vendors are deploying growth strategies such as focusing on increasing their customer base and R&D investments to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The heavy-duty trucks on-board diagnostics system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Heavy-duty Trucks On-board Diagnostics System Market?

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57% of the market's growth will originate from North America during the forecast period. The US is the key market for heavy-duty truck on-board diagnostics systems in North America. Market growth in North America will be faster than the growth of the market in other regions.

The growing need for fuel efficiency will facilitate the heavy-duty trucks on-board diagnostics system market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Gross Vehicle Weight Rating Segments in the Heavy-duty Trucks On-board Diagnostics System Market?

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The heavy-duty trucks on-board diagnostics system market share growth by the class 8 segment will be significant during the forecast period. The demand for class 8 trucks is expected to be driven by the developing economies as these economies are expected to witness faster growth in terms of infrastructural developments than the developed economies. Road transportation accounts for the largest share of goods transport and is the major driving factor for the adoption of class 8 HD trucks.

This report provides an accurate prediction of the contribution of all the segments to the growth of the heavy-duty trucks OBD system market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Heavy-duty Trucks On-board Diagnostics System Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive heavy-duty trucks on-board diagnostics system market growth during the next five years
• Precise estimation of the heavy-duty trucks on-board diagnostics system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the heavy-duty trucks OBD system industry across North America, APAC, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of heavy-duty trucks OBD system market vendors

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