Asia Pacific Heavy-duty Trucks Market to hit $280 bn by 2026

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Asia Pacific Heavy-duty Trucks Market to hit 280
bn by 2026 Graphical Research
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Asia Pacific Heavy-duty Trucks Market Size is
estimated to cross USD 280 Billion by 2026. The
increase in the number of e-commerce and
transportation activities in Asia Pacific will
proliferate the demand for heavy-duty trucks. The
rising disposable income and changing preferences
toward easy living are driving demand in the
e-commerce sector, resulting in the high growth
of freight transportation. Various prominent
players including Amazon, eBay, and Alibaba have
a strong presence in the Asia Pacific
market.   With the changing purchasing habits of
individuals, e-commerce industry players are
expanding their business operations in the Asia
Pacific region. For instance, in July 2019,
Amazon announced its plan to expand its presence
in the Indian food retailing industry with an
investment of USD 515 million till 2025. This is
expected to contribute toward steady growth in
the adoption of heavy-duty trucks for freight
movement in the Indian market, accelerating the
industry size.   The emergence of COVID-19 across
the world has adversely affected several
economies. Countries have witnessed a steady fall
in the GDP along with a financial crunch. The
Asia Pacific heavy-duty trucks market is
experiencing a downfall in market revenues owing
to restrictions that were imposed from January
2020 to May 2020. Production units across the
region have faced a setback since the spread of
the virus, which originated from the Asia Pacific
region. However, with the economic revival, the
heavy-duty trucks industry will witness steady
growth.
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Rising government expenditure in the development
of the real estate sector will augment the
heavy-duty trucks demand in the region.
Governments are taking several initiatives and
are investing in new construction activities to
promote the economy and provide sustainable
growth opportunities for the citizens. For
instance, in May 2020, the Communist Party of
China announced its plans to invest nearly USD
1.4 trillion in the digital infrastructure public
spending program with a focus on key areas such
as Artificial Intelligence (AI), 5G networks,
inter-city rail transportation systems, and
industrial internet. The high demand for new
infrastructure development to support this
program will drive the industry size.   Prominent
heavy-duty truck market players operating in Asia
Pacific are Dongfeng, China National Heavy-Duty
Group, Tata Motors, Isuzu Motors, Eicher Motors
Limited, and Ashok Leyland. Companies are focused
on new product launches and innovations to
enhance their business operations. For instance,
in January 2019, Dongfeng Trucks launched new
models of trucks including heavy-duty and
medium-duty trucks in China. The new range of
trucks is equipped with aftermarket services and
solutions including finance maintenance to
develop and adopt the changing market trends. New
launches generate lucrative growth opportunities
for the Asia Pacific heavy-duty trucks market.
Some of the key manufacturers involved in the
Europe Remodeling market include House Renovation
London, APT Renovation Ltd., Walker Construction
(UK) Ltd., BollingerGrohmann GmbH,
Sherwin-Williams Company, Dow Building Solutions,
Brymor Group, Kier Group plc, Vinci Construction,
Renosud, and Glen Malton.  
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Segmentation of Asia Pacific Heavy-duty Trucks
Market Asia Pacific Heavy-duty Trucks Market,
By Class Class 7 Axle Type 4x2 6x4 Class 8 Axle
Type 4x2 6x4 Cab Type Day Cab Sleeper Cab Asia
Pacific Heavy-duty Trucks Market, By
Fuel Diesel Natural Gas Hybrid Electric
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Asia Pacific Heavy-duty Trucks Market, By
Horsepower Below 300 300 400 The above
information is provided on a country basis for
the following Asia Pacific China India Japan Sout
h Korea Thailand Indonesia Vietnam
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