Technavio Announces Top Three Emerging Trends Impacting the Global High Performance Truck Market Through 2019

LONDON--()--Technavio’s latest report on the global high performance truck market provides an analysis on the most important trends expected to impact the market outlook through 2019. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The top three emerging trends driving the global high performance truck market according to Technavio automotive research analysts are:

  • Technological advancement
  • Increased installation of natural gas engines
  • Adoption of automated manual transmission (AMT)

Technological advancement

Though the number of high performance trucks on the road is less compared to passenger cars and other commercial trucks and account for more than 20% of total emissions. To manage this, governments are forming strict emission and environment standards. In order to cope with the emission norms and to make transportation cleaner, OEMs are investing in innovation technologies and building new engines and new fuel technologies that enhance engine performance and consume less fuel, thereby reducing emissions.

Electricity is not just limited to passenger cars. Today, hybrid and increased electrification is moving into high performance trucks, with its main goal to reduce oil consumption and emissions. “Electrification of trucks is increasing, with the introduction of hybrid electric trucks, which have a combination of a conventional internal combustion engine with an electric motor, and can reduce fuel consumption up to 25%. Battery electric trucks are propelled only by an electric motor powered by batteries,” says Faizan Akhtar, one of the lead automotive manufacturing analysts at Technavio.

Increased installation of natural gas engines

Road-freight transport is a vital pillar for a country's economy. The increasing population, increased investment in infrastructure, and growing mining activities have heightened demand for high performance trucks, which has increased emissions and oil consumption. Regulatory bodies, to avoid dependency on oil and reduce emissions, are encouraging the use of natural gas engines. The adoption of natural gas engines using CNG, LPG, and H2 gas is increasing in North America and Europe. “A sufficient supply of natural gas, smaller negative impact on the environment, low cost, clean burning qualities, and better refueling infrastructure are the key factors driving natural gas engines in high performance trucks,” says Faizan.

Adoption of AMT

AMT is based on an electronic unit that supervises the use of the clutch and gear shifting. It makes the shift better and chooses gears wisely. Though manual transmission is widely accepted in high performance trucks, AMT is steadily growing in the market with its advantage of fuel economy, which is an important reason for the increasing adoption of AMTs in high performance trucks.

“Increased adoption of AMTs in high performance trucks has been observed in Europe and the Americas due to their strict emission standards, government focus to cut oil consumption, and better end-user awareness. Europe and North America represents for about 75% of AMT installation and is substituting manual transmission at a faster pace,” says Faizan.

The report further states that due to the increasing adoption and demand for AMT, OEMs have started producing their own AMT products. For instance, Volvo's I-shift is accepted widely by customers and in Europe a high percentage of Volvo trucks are ordered with I-shift.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the global high performance truck market provides an analysis on the most important trends expected to impact the market outlook through 2019.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com