The growth in the demand for High-Performance Trucks Market can be attributed to its increased demand from industrial applications. Also, the commercial trucks are being modified with internal engine components such as connecting rods, pistons and camshafts, which are in turn driving the demand for high-performance trucks. The main function of the high-performance vehicles is transportation of goods and products in the transportation delivery and mining activities. Transportation industry plays a vital role in the stabilization of the economy of the developing economies, as it facilitates in ensuring the transfer of goods from major ports and shipment points to other parts of the country. Therefore, the increasing application of the high-performance trucks by the transportation industry is driving the growth of the market.
ZF (Germany), Chevrolet (U.S.), Dodge (U.S.), GMC (General Motors Truck Company) (U.S.), Toyota Motor Corporation (Japan), Volvo trucks (Sweden), Paccar Inc. (U.S.), Daimler Trucks North America LLC (U.S.), Caterpillar Inc. (U.S.), MAN Truck Bus AG (Germany) and Cummins (U.S.).
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Based on Vehicle Type, the market has been segmented as Conventional Pickups, Crew Cab, Sports Trucks, Long-Haul Trucks and Others. Amongst these, Conventional Pickups are expected to dominate the growth of the market. The original equipment manufacturers are focusing on manufacturing of conventional pickups with enhanced features such as enhanced driver experience, fuel efficiency and high-performance. The demand for conventional pickups is also increasing with the rise in the application for fire and rescue purposes with increasing emphasis on safety and disaster management.
By, the market has been segmented as Dumping, Distribution, Refrigeration, Container, Tanker and Others. Amongst all applications, dumping trucks are expected to contribute the maximum in the growth of the market. Huge demand is being generated for the dumping trucks with high power output engine with the increase in investment in the infrastructural activities. High investment by the government in developing nations for improvement, and up gradation of road network facilities, are also driving the demand for dumping trucks for load carrying.
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