The analysts forecast the global on-highway vehicle market to grow at a CAGR of 4.24% during the period 2018-2022.
An on-highway vehicle is used to transport passengers and goods. These vehicles form a broad segment in the automotive industry that encompasses many types of vehicles such as minibus, large buses, coaches, body chassis, lorries, medium-duty trucks, heavy-duty trucks, trailers, semi-trailers, concrete mixers, special purpose vehicles (SPVs) and recreational vehicles (RVs).
One trend in the market is integration of advanced safety technologies in on-highway vehicles to gain higher safety ratings. The global automotive industry is witnessing the development of technologies that make vehicles more safe and reliable on the road. The high fatality rates with the growing number of accidents have pushed OEMs to install new safety features and make on-highway vehicles safer to drive.
One driver in the market is increasing penetration of downsized engines. Vehicle manufacturers are increasingly developing downsized engine blocks to decrease the kerb weight, limit the formation of emissions, and improve fuel efficiency. Downsized engines are designed to produce the same amount of power as that of their higher-powered models.
The report states that one challenge in the market is increasing cost pressure on OEMs. In the automotive industry value chain, OEMs absorb the liability for most of the warranty costs and price pressure from the demand side. With the increasing adoption of new advanced technologies in vehicles, the bargaining power of OEMs has reduced for certain equipment and technologies.
- Hyundai Motor
- Toyota Motor
Key Topics Covered:
1: Executive Summary
2: Scope Of The Report
3: Research Methodology
4: Market Landscape
5: Market Sizing
6: Five Forces Analysis
7: Market Segmentation By Vehicle Type
8: Market Segmentation By Transmission
9: Customer Landscape
10: Regional Landscape
11: Decision Framework
12: Drivers And Challenges
13: Market Trends
14: Vendor Landscape
15: Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/mdbr8x/global_onhighway?w=4