Mini Truck Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
- March 2040
- Transport & Logistics
- 0 pages
Mini trucks are light duty commercial vehicles with lower carriage capacity. Mini trucks are classified under the gross weight category of 01 to 14000 lbs. Mini trucks are utilized for commercial as well as domestic purposes; however, they are primarily used for commercial purposes.
Demand for mini trucks is rising, globally, owing to their advantages of multipurpose utility. Moreover, the mini truck market is being driven due to the expansion of the service and IT (Information Technology) industry. Rising preference for road trips and touring, due to increasing per capita income is propelling the production of mini trucks. Mini trucks are preferred for road touring due to their higher carriage capacity and higher strength to ride on diverse road conditions. Preference of the younger generation toward light trucks is likely to propel the mini truck market. Introduction of electric-powered mini trucks can be a restraining factor for the existing diesel and gasoline-powered mini trucks.
The mini truck market can be segment based on utility, fuel, carriage capacity, and region. Based on utility the commercial utility segment is expanding at a rapid pace, as most service industries employ light trucks for transport of small machinery. Increase in population is another factor boosting the mini truck market owing to the high demand for transporting goods in small capacities.
Based on fuel, the diesel-powered mini truck segment is dominating the mini truck market due to its higher load-carrying capacity and lower cost of diesel, as compared to gasoline. Moreover, diesel-powered vehicles are more efficiency in terms of fuel economy, which adds to the profit margin of mini truck owners. However, the introduction of electric-powered mini trucks is considered as a boon for all industries and the electric-powered mini trucks is anticipated to expand at a significant pace due to preference of society toward eco-friendly mobility and government support to boost electric vehicles. Governing bodies in different countries are providing monetary benefits such as lower interest rates and tax exemptions in order to encourage the adoption of electric-powered vehicles.
In terms of carriage capacity, the mini truck market can be segmented into ultra-light trucks and light trucks. The light trucks segment is likely to hold a major share of the global mini truck market owing to their higher carriage capacity and higher lifespan, as compared to ultra-light mini trucks. Light trucks always have four or more wheels; however ultra-light trucks can have three wheels.
Based on region, APAC is a prominent and rapidly expanding market for mini truck owing to significant rise in industrialization in the region. Countries such as China and India are leading markets for mini truck in APAC. Rising per capita income in the region is prompting people to invest in small businesses, which is boosting the demand for mini trucks, as transportation source is necessary for most businesses.
Major players operating in the global mini truck market include Isuzu Motors Ltd., Ford Motor Company, Mahindra & Mahindra, Ashok Leyland, Ford Motor Company, Mazda Motor Corporation, Nissan Motor Company Ltd. and TATA Motors.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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