In a recently published report, Kenneth Research has updated the market report for Global Combination Truck Market for 2021 till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Combination Truck Market products.
Get PDF Sample Reports Here – https://www.kennethresearch.com/sample-request-10065259
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
The combination truck simply consists of a truck tractor (as the power unit) and a semitrailer or trailer (as one or more trailing units). Thus, they are the combinations of multiple trailers on tractor trucks as compared to standard 5 axle semi-trailer-trucks with one trailer. Some of the combinations of combination vehicles are turnpike double, rocky mountain doubles, triple trailer and STAA doubles.
Combination trucks are extremely useful because they can carry an extra freight in terms of the square and cubic feet capacity as well as weight capacity. This is possible because of the extra axles it spreads out the weight across a longer area. They’re also more efficient based on Ton-mileage. These trucks have gross vehicle mass (GVM) of over 9,000 kilograms and are mainly used for load carriage, long-haulage, logistics activities, etc.
The major factors driving the combination truck market includes shale boom in many regions, increasing drilling activity across the world, increased exploration activity, quest for finding potentially untapped oil and gas reserves, increasing number of service stations, exploration from ageing reservoirs, increased urbanization and infrastructure spending.
Some of the challenges faced by the combination truck market are political issues causing market instability, increasing raw material (iron and steel) prices, poor road infrastructure resulting in frequent breakdowns, unstable crude oil prices, limited manufacturing capacity of global OEMs, a huge competition, threat of substitutes – rail and growing environmental concerns.
The combination truck market is segmented on the basis of their dimensions and load capacity:
Light combination truck
Medium combination truck
Heavy combination truck
North America is expected to lead the combination truck market in the coming decade due to the ongoing shale boom in this region, boosting the market for truck usage in oil and gas industry. Europe and Asia-Pacific are growing rapidly in terms of market demand. Demand is high particularly in some countries such as China, India, United Kingdom, and the Netherlands.The fast pace of industrial development and increasing demand for consumer goods on account of rising population in India and China is boosting the production and sales of combination trucks market in the country.Regions such as South and Central America and Africa are also expected to share a decent share of market demand in the coming years.
Get a Sample PDF of report – https://www.kennethresearch.com/sample-request-10065259
Baker Hughes Inc., Halliburton Co., Weatherford International Ltd, Royal Dutch Shell Plc, Schlumberger Ltd, Statoil ASA, BP Plc, Tuthill Corporation, J.A.B Industrial Services, Avery Weigh-Tronix, Sierra Instruments, Inc., NLB Corp., Neo Solutions, Inc., EEC Global Operation LLC, Chandler Equipment, Inc.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and the Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
The Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of the Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market Dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
To Understand How Covid-19 Impact Is Covered in This Report Here – https://www.kennethresearch.com/sample-request-10065259
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
Phone: +1 313 462 0609