Automobiles And Heavy Equipment Market
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per the Automobile and heavy equipment market report by The Business Research Company, the growing demand for autonomous transportation is expected to drive the growth of the automobile and heavy equipment markets over the forecast period. An autonomous vehicle utilises a fully automated driving system to enable it to react to external conditions that a human driver would handle. According to the Victoria Transport Policy Institute’s report on autonomous vehicle implementation predictions published in June 2020, autonomous vehicles will be reliable, affordable, and safe by 2025 and are predicted to be commercially available in many areas by 2030. Moreover, in 2020, Mercedes-Benz will release its semi-autonomous truck prototype, scheduled for 2025. Therefore, the growing demand for autonomous transportation drives the growth of the automobile and heavy equipment markets.
The global automobile and heavy equipment trucking market size will grow from $305.49 billion in 2022 to $333.13 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global automobile and heavy equipment trucking market size is expected to grow to $457.3 billion in 2027 at a CAGR of 8.2%.
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Major competitors in the Automobile and heavy equipment market include American Rail Center Logistics, CEVA Logistics, DHL, FedEx Freight, United Parcel Service, Schneider National, C.H. Robinson, and J.B. Hunt Transport.
The Automobile and heavy equipment market is segmented –
• By Type: Business Services, Managed Services, System Integrator, Other Types
• By Application: Cars And Light Trucks, Medium And Heavy Trucks, Farm And Construction Equipment, Other Applications
• By Size: Heavy Trucks, Medium Trucks, Light Trucks
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automobile and heavy equipment market.
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Automobile and heavy equipment trucking is a transportation service that entails the movement of automobiles and other heavy machinery, such as for construction and mining tasks that necessitate the use of high payload capacity bearing trucks and transportation machines to move goods from one location to another.
The Table Of Content For The Automobile and heavy equipment Market Include:
1. Executive Summary
2. Automobiles And Heavy Equipment Market Characteristics
3. Automobiles And Heavy Equipment Market Trends And Strategies
4. Automobiles And Heavy Equipment Market – Macro Economic Scenario
5. Automobiles And Heavy Equipment Market Size And Growth
29. Key Mergers And Acquisitions In The Automobiles And Heavy Equipment Market
29. Automobiles And Heavy Equipment Market Future Outlook and Potential Analysis
The “Global Automobile and heavy equipment Market Report 2023” from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market’s historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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