Expedition Truck Market 2023-2032; Growth Forecast & Industry Share Report

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Expedition Truck Market Growth Analysis
Forecast Report 2023-2032
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• Industry Insights

• Expedition Truck Market is projected to cross USD
  400 Mn by 2032. In recent years, consumer
  inclination toward recreational activities and
  safer driving experiences have accelerated the
  demand for advanced expedition trucks.
  Additionally, the advent of electric and
  low-carbon vehicles is introducing a whole new
  range of automobiles designed for expedition
  purposes. For instance, modern expedition trucks
  feature USB charging capabilities, Type-C fast
  charging technology, 12V/24V charging ports, and
  wireless charging pads.
• Leading automobile manufacturers are foraying
  into the space of EVs to boost the production of
  electric cars, trucks, and other vehicles. For
  instance, in March 2023, Ford Motor Co, an
  American automaker, announced plans to build the
  capacity of its new and under-construction
  BlueOval City complex in Tennessee to 500,000
  electric trucks a year.

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• Based on weight, the demand for 3.5-7.5 tonne
  expedition trucks will grow significantly from
  2023 to 2032, owing to ongoing advancements in
  smart mobility. Recent advancements and the
  incorporation of next-generation technologies
  such as ML and AI will boost the adoption of
  these vehicles. Moreover, growing user preference
  for high-quality standards in interior
  construction featuring space-efficient solutions
  and the increasing trend of minimalism offers
  lucrative business prospects.
• In terms of drive systems, the market is
  segmented into above 4WD, 2WD, and 4WD. Among
  these, the industry valuation from the above 4WD
  segment reached USD 20 million in 2022.
  Expedition trucks with a drive system above 4WD
  are suitable for use over rough terrains as they
  ensure higher stability and grip on the surface.
  A rise in off-roading events and recreational
  activities will spur the demand for these
  vehicles over the estimation period.

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• Regional Analysis

• From a regional frame of reference, Europe
  expedition trucks market was worth USD 90 million
  in 2022, driven by several recreational
  associations. Europe is home to major
  organizations such as Uni VDL in France, and
  Caravanning Industry Association in Germany,
  regulated by the European Caravan Foundation. The
  region also has a rich caravanning culture with
  increasing spending on caravans. In 2021, Europe
  witnessed a record high of 218,301 new
  registrations for motor caravans. These
  optimistic scenarios are poised to create a
  favorable growth outlook for the regional
  industry.

• Competitive Analysis

• All Terrain Expedition Camper Trucks,Bliss
  Mobil,Boxmanufaktur,Bozcrome Industries PTY Ltd
  (SLRV Expedition Vehicles),Expedition Vehicles
  VAK,Gekkotruck,Global Expedition Vehicles,KRUG
  Expedition GmbH,Motorcraft Adventure
  Developments,ROVER Off Road,Unicat GmbH and
  Zocama.

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