The global Vocational Trucks market size was valued at US$ 218,610 million in 2023. With growing demand in the downstream market, vocational trucks are projected to continue their
Introduction
The vocational truck is a durable work truck built to handle a specific job or task, such as pick-up & delivery, garbage collection, concrete mixing, distribution, tree trimming, firefighting, and much more. These trucks are custom built on a truck chassis with self-propelled or trailer-mounted configurations.
Market Insights
According to the Publishers’ latest study, the global Vocational Trucks market size was valued at US$ 218610 million in 2023. With growing demand in downstream market, the Vocational Trucks is forecast to a readjusted size of US$ 264870 million by 2030 with a CAGR of 2.8% during review period.
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Global key vocational trucks brands include Faw Jiefang Group, Daimler and Sinotruck etc. The top 3 companies hold a share about 32%. Asia-Pacific is the largest market with a share about 45%, followed by North America and Europe.
In terms of product, box trucks is the largest segment with a share about 54%. And in terms of applications, the largest application is transportation and logistics with a share about 64%.
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Sunny Keshri
Research Analyst
The report on Vocational Trucks market reflects various aspects and provide valuable insights into the industry.
Trends:
The global vocational trucks market is witnessing a shift towards more specialized and customized vehicle offerings, designed to meet the unique requirements of various industries and applications, such as construction, mining, waste management, and municipal services.
There is an increasing focus on improving the fuel efficiency and emissions performance of vocational trucks, driven by stricter environmental regulations and the growing emphasis on sustainability across the transportation sector.
The market is seeing a rise in the adoption of advanced technologies, including telematics, predictive maintenance systems, and driver assistance features, to enhance the safety, productivity, and operational efficiency of vocational truck fleets.
The industry is experiencing a trend towards the electrification of vocational trucks, with the introduction of battery-electric and hybrid-electric models, aimed at reducing carbon footprint and supporting the transition towards sustainable transportation.
The market is seeing an increased emphasis on the customization and upfitting of vocational trucks, with customers seeking vehicles that can be tailored to their specific operational needs, such as specialized bodies, attachments, and auxiliary equipment.
There is a growing demand for used and refurbished vocational trucks, as organizations seek to optimize their fleet costs and extend the lifespan of their existing vehicles.
Drivers:
The growing infrastructure development and construction activities, particularly in developing economies, are driving the demand for specialized vocational trucks, such as dump trucks, concrete mixers, and crane trucks, to support these projects.
The increasing focus on sustainability and the need to reduce the environmental impact of transportation, coupled with government incentives and regulations, are propelling the adoption of more fuel-efficient and low-emission vocational trucks.
The rising demand for efficient and reliable waste management and municipal services, along with the need to modernize aging fleets, is fueling the demand for specialized vocational trucks, such as refuse collection vehicles and street sweepers.
The growing e-commerce and last-mile delivery trends are creating a need for more maneuverable and versatile vocational trucks, such as medium-duty and lightweight models, to navigate urban environments and handle diverse delivery requirements.
The aging of existing vocational truck fleets and the need for replacement and fleet renewal are driving the demand for new vehicle purchases, particularly in developed markets.
The increasing focus on workplace safety and the need to comply with regulatory requirements are driving the adoption of vocational trucks equipped with advanced safety features, such as collision avoidance systems and driver assistance technologies.
Opportunities:
The growing demand for specialized and customized vocational trucks, tailored to the unique requirements of various industries and applications, can enable manufacturers and upfitters to develop innovative and differentiated product offerings.
The transition towards electrification and the development of battery-electric and hybrid-electric vocational trucks can create opportunities for companies to establish themselves as leaders in sustainable transportation solutions.
The integration of advanced technologies, such as telematics, predictive maintenance, and driver assistance features, into vocational truck offerings can enhance the operational efficiency, safety, and overall value proposition for customers.
The rising demand for used and refurbished vocational trucks can present opportunities for specialized dealers, service providers, and aftermarket parts suppliers to capture a larger share of the market.
The growing infrastructure development and construction activities, particularly in emerging markets, can drive the demand for vocational trucks and create expansion opportunities for manufacturers and distributors.
The increasing focus on optimizing fleet operations and reducing operational costs can drive the adoption of data-driven fleet management solutions and services, providing additional revenue streams for industry participants.
Threats:
The highly competitive nature of the vocational trucks market, with the presence of both established players and new market entrants, can lead to pricing pressures and erode profit margins.
The rapid technological advancements, particularly in the areas of electrification and autonomous driving, can create the risk of obsolescence for existing product offerings and require significant investments in research and development to keep pace with the market.
The potential for economic downturns, fluctuations in commodity prices, and disruptions in global supply chains can impact the demand for vocational trucks and create challenges for manufacturers and distributors.
The shortage of skilled labor and the challenges in recruiting and retaining qualified technicians can hinder the maintenance and servicing of vocational truck fleets, impacting the overall customer experience.
The rising competition from alternative transportation modes, such as rail and marine transport, can potentially divert demand from vocational trucks in certain applications and industries.
Market Size and Growth: The research report provide an overview of the current size and growth of the Vocational Trucks market. It may include historical data, market segmentation by Type (e.g., Box Truck, Dump Truck), and regional breakdowns.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Vocational Trucks market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
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Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Vocational Trucks market. It includes factors influencing customer ' purchasing decisions, preferences for Vocational Trucks product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Vocational Trucks market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Vocational Trucks market. The report also evaluates the effectiveness of these policies in driving market growth.
Market Forecasts and Future Outlook: The global vocational trucks market is poised for continued growth, driven by the increasing demand for specialized and customized vehicles to support diverse industries and applications, as well as the growing emphasis on sustainability and technological advancements.
Market Segmentation:
Vocational Trucks market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
Box Truck
Dump Truck
Concrete Mixer
Garbage Truck
Tank Truck
Others
Segmentation by application
Transportation and Logistics
Construction
Municipal
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Daimler
Volvo
PACCAR
Faw Jiefang Group
Man Truck
Scania
Sinotruck
Shaanxi Heavy Duty Automobile
Isuzu Motors
Navistar
SANY
ZOOMLION
Iveco
XCMG
Tata Motors
Oshkosh Corporation
REV Group
Rosenbauer
ShinMaywa Industries
Morita Group
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Vocational Trucks Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Vocational Trucks by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Vocational Trucks by Country/Region, 2019, 2023 & 2030
2.2 Vocational Trucks Segment by Type
2.2.1 Box Truck
2.2.2 Dump Truck
2.2.3 Concrete Mixer
2.2.4 Garbage Truck
2.2.5 Tank Truck
2.2.6 Others
2.3 Vocational Trucks Sales by Type
2.3.1 Global Vocational Trucks Sales Market Share by Type (2019-2024)
2.3.2 Global Vocational Trucks Revenue and Market Share by Type (2019-2024)
2.3.3 Global Vocational Trucks Sale Price by Type (2019-2024)
2.4 Vocational Trucks Segment by Application
2.4.1 Transportation and Logistics
2.4.2 Construction
2.4.3 Municipal
2.4.4 Others
2.5 Vocational Trucks Sales by Application
2.5.1 Global Vocational Trucks Sale Market Share by Application (2019-2024)
2.5.2 Global Vocational Trucks Revenue and Market Share by Application (2019-2024)
2.5.3 Global Vocational Trucks Sale Price by Application (2019-2024)
3 Global Vocational Trucks by Company
3.1 Global Vocational Trucks Breakdown Data by Company
3.1.1 Global Vocational Trucks Annual Sales by Company (2019-2024)
3.1.2 Global Vocational Trucks Sales Market Share by Company (2019-2024)
3.2 Global Vocational Trucks Annual Revenue by Company (2019-2024)
3.2.1 Global Vocational Trucks Revenue by Company (2019-2024)
3.2.2 Global Vocational Trucks Revenue Market Share by Company (2019-2024)
3.3 Global Vocational Trucks Sale Price by Company
3.4 Key Manufacturers Vocational Trucks Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Vocational Trucks Product Location Distribution
3.4.2 Players Vocational Trucks Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 World Historic Review for Vocational Trucks by Geographic Region
4.1 World Historic Vocational Trucks Market Size by Geographic Region (2019-2024)
4.1.1 Global Vocational Trucks Annual Sales by Geographic Region (2019-2024)
4.1.2 Global Vocational Trucks Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic Vocational Trucks Market Size by Country/Region (2019-2024)
4.2.1 Global Vocational Trucks Annual Sales by Country/Region (2019-2024)
4.2.2 Global Vocational Trucks Annual Revenue by Country/Region (2019-2024)
4.3 Americas Vocational Trucks Sales Growth
4.4 APAC Vocational Trucks Sales Growth
4.5 Europe Vocational Trucks Sales Growth
4.6 Middle East & Africa Vocational Trucks Sales Growth
5 Americas
5.1 Americas Vocational Trucks Sales by Country
5.1.1 Americas Vocational Trucks Sales by Country (2019-2024)
5.1.2 Americas Vocational Trucks Revenue by Country (2019-2024)
5.2 Americas Vocational Trucks Sales by Type
5.3 Americas Vocational Trucks Sales by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Vocational Trucks Sales by Region
6.1.1 APAC Vocational Trucks Sales by Region (2019-2024)
6.1.2 APAC Vocational Trucks Revenue by Region (2019-2024)
6.2 APAC Vocational Trucks Sales by Type
6.3 APAC Vocational Trucks Sales by Application
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Vocational Trucks by Country
7.1.1 Europe Vocational Trucks Sales by Country (2019-2024)
7.1.2 Europe Vocational Trucks Revenue by Country (2019-2024)
7.2 Europe Vocational Trucks Sales by Type
7.3 Europe Vocational Trucks Sales by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Vocational Trucks by Country
8.1.1 Middle East & Africa Vocational Trucks Sales by Country (2019-2024)
8.1.2 Middle East & Africa Vocational Trucks Revenue by Country (2019-2024)
8.2 Middle East & Africa Vocational Trucks Sales by Type
8.3 Middle East & Africa Vocational Trucks Sales by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Vocational Trucks
10.3 Manufacturing Process Analysis of Vocational Trucks
10.4 Industry Chain Structure of Vocational Trucks
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Vocational Trucks Distributors
11.3 Vocational Trucks Customer
12 World Forecast Review for Vocational Trucks by Geographic Region
12.1 Global Vocational Trucks Market Size Forecast by Region
12.1.1 Global Vocational Trucks Forecast by Region (2025-2030)
12.1.2 Global Vocational Trucks Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country
12.3 APAC Forecast by Region
12.4 Europe Forecast by Country
12.5 Middle East & Africa Forecast by Country
12.6 Global Vocational Trucks Forecast by Type
12.7 Global Vocational Trucks Forecast by Application
13 Key Players Analysis
13.1 Daimler
13.1.1 Daimler Company Information
13.1.2 Daimler Vocational Trucks Product Portfolios and Specifications
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