Strong Demand Continues to Drive Investments in Truck Manufacturing

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Researched by Industrial Info Resources (Sugar Land, Texas)--Rising commercialization, e-commerce and global trade have contributed significantly to the demand for both the domestic and international transportation of goods and cargo. This has led to substantial investments toward supply chain optimization and has fueled the demand for truck manufacturing globally.

The trucking sector, which is the backbone of logistics, is experiencing significant changes and developments. As reported by the International Energy Agency (IEA), trucks and buses are responsible for more than 35% of direct carbon dioxide (CO2) emissions from road-based transportation. As a result, truck manufacturers are adopting green initiatives and turning to electric trucks.

With new fleet-management software, such as advanced telematics, autonomous driving and driver-assistance systems, trailer tracking and predictive maintenance, manufacturers are investing heavily in modern trucks to increase production as supply chains improve. Certain headwinds persist, such as an ageing labor workforce, a scarcity of young drivers and regulatory challenges. Despite these twists and turns, investors remain undeterred, propelling the industry forward.

Industrial Info is tracking more than 1,000 operational truck-manufacturing plants globally, most of which are operating in North America (337) or Asia (248). Industrial Info also is tracking more than 140 capital-spending projects, worth more than US$3.5 billion, geared toward truck manufacturing. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Plant and Project databases can click here for a list of plant profiles, and click here for a list of detailed project reports.

By country, the U.S. leads with a total spending pipeline of US$903 million across 44 projects, and a market share of 26%. It is followed by China, with an investment of US$626 million, and Romania, with US$434 million. Other countries with substantial investments include Brazil, Indonesia, Mexico and Turkey.

With a combined project spending of around US$1 billion, Syn Trac GmbH (Austria), PT Bakrie & Brothers Tbk (Indonesia), Cottrell, Incorporated (USA) and Shandong Weiqiao Pioneering Group Company Limited (China) are the top players in the market and own a cumulative market share of 28%.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).