Market Forecast By Product Types (Rigid Frame, Articulating Frame), By End-User Applications (Mining, Construction & Others), By Countries (India, Japan, China, Malaysia, Philippines, Myanmar, South Korea, Australia, Cambodia, Indonesia) and competitive landscape
Product Code: ETC002216 | Publication Date: Apr 2020 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Report Name | Asia Pacific (APAC) Off-Highway Truck MarketΒ |
Forecast period | 2024-2030 |
CAGR | 6% |
Growing Sector | Mining |
The Asia Pacific (APAC) Off-Highway Truck Market report thoroughly covers the market by Product Types, End-User Applications and Countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Asia Pacific (APAC) Off-Highway Truck has witnessed growth over the years. The market is expected to grow continuously in the coming years. This is driven by various factors such as demand from industries such as construction and mining, growing population growth, government initiatives, and advanced technologies.
According to 6Wresearch, the Asia Pacific (APAC) Off-Highway Truck Market size is expected to grow at a significant CAGR of 6% during 2024-2030. The construction industry is growing due to the increasing demand for infrastructure projects. This has resulted in a higher demand for off-highway trucks for the transportation of materials and equipment to the construction sites. The continuous expansion of the mining industry created a need for efficient transportation of minerals from mines to processing plants, hence driving the demand for off-highway trucks. Moreover, advancements in technology have made trucks more efficient and productive, thus making them popular among end users.
The high cost of off-highway trucks compared to other types of commercial vehicles due to their specialized design and heavy-duty components is a major challenge for the market. Moreover, regular maintenance costs of these trucks further add to the cost and decrease the profit margin for manufacturers.
Some of the key players in the APAC off-highway truck market are Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Liebherr Group, Volvo Construction Equipment, and Terex Trucks. These companies dominate the market with their technologically advanced products and strong distribution networks. In addition, they also focus on strategic partnerships and collaborations to expand their presence in the region.
One major initiative taken by governments across APAC is to invest heavily in large-scale infrastructure projects such as highways, ports, and airports. Moreover, governments have also implemented policies to encourage foreign investment in their countries' construction and mining sectors. Additionally, many countries in the region have introduced tax incentives and subsidies for companies purchasing heavy-duty equipment like off-highway trucks. Furthermore, governments have introduced stricter emission regulations that require companies to upgrade their equipment, including off-highway trucks, to more environmentally friendly options.
The Asia Pacific (APAC) Off-Highway Truck Market is projected to grow in the coming years due to various factors such as increasing infrastructure development projects, rising demand for energy and minerals, and government initiatives promoting sustainable practices. The market is also likely to witness technological advancements with the introduction of electric and autonomous off-highway trucks. The rising adoption of advanced technologies such as telematics, GPS tracking, and fleet management systems is also expected to drive market growth.
According to Ravi Bhandari, Research Head, 6Wresearch, the mining segment is expected to have the highest growth in the Asia Pacific off-highway truck market. This can be attributed to the rising demand for minerals and metals in developing countries such as India, China, and Indonesia.
In terms of product types, the rigid frame segment is expected to dominate the market due to its durability and high load-carrying capacity.
China is projected to dominate the off-highway truck market due to the country's continuous investment in infrastructure development and rapid industrialization.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of The Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Asia Pacific Off-Highway Trucks Market Overview |
3.1. Asia Pacific Off-Highway Trucks Market Revenues, 2020-2030F |
3.2. Asia Pacific Off-Highway Trucks Market Revenue Share, By Countries, 2020 & 2030F |
3.3. Asia Pacific Off-Highway Trucks Market - Industry Life Cycle |
3.4. Asia Pacific Off-Highway Trucks Market - Porterβs Five Forces |
4. Asia Pacific Off-Highway Trucks Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Asia Pacific Off-Highway Trucks Market Trends |
6. India Off-Highway Trucks Market Overview |
6.1 India Off-Highway Trucks Market Revenues, 2020-2030F |
6.2 India Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
6.2.1 India Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
6.2.2 India Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
6.3 India Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
6.3.1 India Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
6.3.2 India Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
6.3.3 India Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
7. China Off-Highway Trucks Market Overview |
7.1 China Off-Highway Trucks Market Revenues, 2020-2030F |
7.2 China Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
7.2.1 China Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
7.2.2 China Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
7.3 China Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
7.3.1 China Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
7.3.2 China Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
7.3.3 China Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
8. Japan Off-Highway Trucks Market Overview |
8.1 Japan Off-Highway Trucks Market Revenues, 2020-2030F |
8.2 Japan Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
8.2.1 Japan Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
8.2.2 Japan Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
8.3 Japan Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
8.3.1 Japan Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
8.3.2 Japan Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
8.3.3 Japan Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
9. Australia Off-Highway Trucks Market Overview |
9.1 Australia Off-Highway Trucks Market Revenues, 2020-2030F |
9.2 Australia Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
9.2.1 Australia Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
9.2.2 Australia Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
9.3 Australia Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
9.3.1 Australia Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
9.3.2 Australia Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
9.3.3 Australia Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
10. Malaysia Off-Highway Trucks Market Overview |
10.1 Malaysia Off-Highway Trucks Market Revenues, 2020-2030F |
10.2 Malaysia Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
10.2.1 Malaysia Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
10.2.2 Malaysia Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
10.3 Malaysia Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
10.3.1 Malaysia Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
10.3.2 Malaysia Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
10.3.3 Malaysia Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
11. Philippines Off-Highway Trucks Market Overview |
11.1 Philippines Off-Highway Trucks Market Revenues, 2020-2030F |
11.2 Philippines Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
11.2.1 Philippines Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
11.2.2 Philippines Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
11.3 Philippines Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
11.3.1 Philippines Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
11.3.2 Philippines Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
11.3.3 Philippines Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
12. Myanmar Off-Highway Trucks Market Overview |
12.1 Myanmar Off-Highway Trucks Market Revenues, 2020-2030F |
12.2 Myanmar Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
12.2.1 Myanmar Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
12.2.2 Myanmar Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
12.3 Myanmar Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
12.3.1 Myanmar Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
12.3.2 Myanmar Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
12.3.3 Myanmar Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
13. South Korea Off-Highway Trucks Market Overview |
13.1 South Korea Off-Highway Trucks Market Revenues, 2020-2030F |
13.2 South Korea Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
13.2.1 South Korea Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
13.2.2 South Korea Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
13.3 South Korea Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
13.3.1 South Korea Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
13.3.2 South Korea Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
13.3.3 South Korea Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
14. Cambodia Off-Highway Trucks Market Overview |
14.1 Cambodia Off-Highway Trucks Market Revenues, 2020-2030F |
14.2 Cambodia Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
14.2.1 Cambodia Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
14.2.2 Cambodia Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
14.3 Cambodia Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
14.3.1 Cambodia Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
14.3.2 Cambodia Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
14.3.3 Cambodia Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
15. Indonesia Off-Highway Trucks Market Overview |
15.1 Indonesia Off-Highway Trucks Market Revenues, 2020-2030F |
15.2 Indonesia Off-Highway Trucks Market Revenues, By Product Types, 2020-2030F |
15.2.1 Indonesia Rigid Frame Off-Highway Trucks Market Revenues, 2020-2030F |
15.2.2 Indonesia Articulating Frame Off-Highway Trucks Market Revenues, 2020-2030F |
15.3 Indonesia Off-Highway Trucks Market Revenues, By End-User Applications, 2020-2030F |
15.3.1 Indonesia Off-Highway Trucks Market Revenues, By Mining, 2020-2030F |
15.3.2 Indonesia Off-Highway Trucks Market Revenues, By Construction, 2020-2030F |
15.3.3 Indonesia Off-Highway Trucks Market Revenues, By Others, 2020-2030F |
16. Asia Pacific Off-Highway Trucks Market - Key Performance Indicators |
17. Asia Pacific Off-Highway Trucks Market - Opportunity Assessment |
17.1. Asia Pacific Off-Highway Trucks Market Opportunity Assessment, By Countries, 2030F |
18. Asia Pacific Off-Highway Trucks Market Competitive Landscape |
18.1. Asia Pacific Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.1 India Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.2 China Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.3 Japan Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.4 Australia Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.5 Malaysia Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.6 Philippines Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.7 Myanmar Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.8 South Korea Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.9 Cambodia Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.1.10 Indonesia Off-Highway Trucks Market Revenue Share, By Companies, 2023 |
18.2. Asia Pacific Off-Highway Trucks Market Competitive Benchmarking, By Operating & Technical Parameters |
19. Company Profiles |
20. Key Recommendations |
21. Disclaimer |