Utility Trucks Market is expected to reach US$ 103.03 Bn. by 2029 from US$ 57.09 Bn. in 2022 at a CAGR of 8.8 % during a forecast period. The use of utility vehicles is being boosted by rising municipal budget allocations and the growing need for sustainable infrastructure. The rising demand for dump trucks in places with major building and mining operations is contributing to market growth. Furthermore, as the number of fire accidents has increased, several governments have been enacting stricter rules on fire safety and rescue operations, which is driving up demand for fire vehicles, and thereby utility vehicles.To know about the Research Methodology :- Request Free Sample Report
Utility Trucks Market Dynamics
Increased urbanization is increasing the demand for trash trucks, sweeper trucks, and safety vehicles as a result of rapid economic growth and industrialization throughout the world. Additionally, the growing need for safety systems that use utility vehicles such as fire trucks and water tankers has resulted from the rise of industries. The demand for dump trucks is being driven by the growth of the building and mining sectors in most countries around the world. The growth of the real estate sector in most developing countries is increasing the construction industry and, as a result, fuelling global demand for utility vehicles. In recent years, investment in small and midsize enterprises has increased significantly, necessitating the use of compact utility vehicles to do many duties. Most people are encouraged to invest in small and medium-sized enterprises because they incline entrepreneurship and the creation of new business lines. In most big cities, such as London, Mexico City, Boston, and Chicago, rising traffic is increasing the risk of severe loss of life and property. As a result, governments are investing in infrastructure and putting in place equipment to deal with emergencies, which is driving up demand for utility trucks. The growing number of product launches has had the greatest influence on market growth. The demand for hybrid utility trucks has opened up several opportunities for market players. LION Electric announced the debut of a new electric waste utility vehicle in April 2020. The lithium-ion NMC battery is expected to power the 'Class 8' garbage truck, which may help meet customer demand for hybrid utility trucks. Restraints: The factors like the high cost of utility trucks and stringent emission standards are expected to hamper the market growth during the forecast period.Segmentation Analysis
By Product, Dump trucks accounted for the largest proportion of the market in 2022 and are expected to grow at the fastest rate between 2020 and 2030. The increase in mining and construction operations in developing countries like India and China is a key contributor to the market's growth. China, for example, generated 23.62 percent of all mineral raw materials produced globally in 2016. The garbage truck sector, on the other hand, is expected to grow significantly during the forecast period. This growth can be linked to an increase in municipal budgets as well as increased public knowledge regarding proper trash disposal. Garbage trucks with rear loaders accounted for the largest percentage of the market in 2022. The growth of this market is fuelled by factors such as strict government regulations and rising demand for fuel-efficient automobiles. By Engine Type, in 2022, the ICE segment had the largest market share, and it is expected to maintain that position during the forecast period. Utility trucks require a very high torque ratio, which promotes demand for ICE engines. Gasoline and diesel engines provide higher torque than electric and hybrid engines. However, strict pollution regulations, technological breakthroughs, and the introduction of electric cars are restricting the ICE segment's growth. The electric truck industry is still in its development, but it is expected to make considerable inroads against ICE vehicles in the coming years. Electric trucks, on the other hand, need large-capacity batteries, which increases the entire cost. However, strict pollution regulations, technological breakthroughs, and the introduction of electric cars are restricting the ICE segment's growth. The electric truck industry is still in its development, but it is expected to make considerable inroads against ICE vehicles in the coming years. Electric trucks, on the other hand, need large-capacity batteries, which increases the entire cost.Utility Trucks Market Regional Insight
The Asia Pacific region dominated the market in 2022 and is expected to grow significantly during the forecast period due to increased product demand as a consequence of a growing number of building and mining projects in the region. For example, China's Belt and Road plan is anticipated to grow the construction industry's growth opportunities. Furthermore, the Tokyo Olympics 2020 is one of the major causes driving up demand for utility vehicles in Japan. North America was valued at USD 18,085 million in 2020 and is expected to grow at a faster pace during the forecast period. Due to significant demand from enterprises or government agencies operating in end-use sectors such as waste management, construction services, fire safety, and infrastructure cleaning services, the United States held the biggest revenue share in the North American market in 2022. Aside from North America, the market in Europe is expected to grow at a significant rate during the forecast period owing to increased urbanization and population growth in several countries in this region. The growing registration of electric utility cars across the European Union is driving this substantial rise. Due to commercial and residential fires in countries such as the United Kingdom, fire engines are in high demand throughout the region. In England, there were 153,278 fires recorded in 2020. In addition, countries such as France and Germany invest a lot of money on public infrastructure and solid waste treatment, which is supporting utility truck sector growth.Utility Trucks Market Report Objectives:
Landscape analysis of the Utility Trucks Market competitive benchmarking Past and current status of the industry with the forecasted market size and trends Evaluation of potential key players that include market leaders, followers, and new entrants Technology trends Potential impact of micro-economic factors of the market External and Internal factors affecting market have been analyzed The report also helps in understanding the Utility Trucks Market dynamics, structure by analyzing the market segments and project the Utility Trucks Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Utility Trucks Market make the report investor’s guide.Utility Trucks Market Scope: Inquire before buying
Utility Trucks Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 57.09 Bn. Forecast Period 2023 to 2029 CAGR: 8.8% Market Size in 2029: US $ 103.03 Bn. Segments Covered: by Product Garbage Fire Dump Sweeper by Engine Type ICE (Diesel, Gasoline, Hybrid, CNG) Electric by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Utility Trucks Market, Key Players are:
1. Komatsu 2. Oshkosh Corporation 3. Rosenbauer International 4. Daimler AG 5. BYD Motors Inc 6. AB Volvo 7. AEBI Schmidt Holding AG 8. Bucher Industries 9. China FAW Group Co. Ltd. 10.GROUPE KLUBB 11.REV Group 12.China National Heavy Duty Truck Group Co., Ltd. 13.Dongfeng Motor Group Co., Ltd. 14.Dulevo S.p.A. 15.Dover Corporation 16.Magirus GmbH Frequently Asked Questions: 1. Which region has the largest share in Global Utility Trucks Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Utility Trucks Market? Ans: The Global Utility Trucks Market is growing at a CAGR of 8.8% during forecasting period 2023-2029. 3. What is scope of the Global Utility Trucks Market report? Ans: Global Utility Trucks Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Utility Trucks Market? Ans: The important key players in the Global Utility Trucks Market are – Komatsu, Oshkosh Corporation, Rosenbauer International, Daimler AG, BYD Motors Inc, AB Volvo, AEBI Schmidt Holding AG, Bucher Industries, China FAW Group Co. Ltd., GROUPE KLUBB, REV Group, China National Heavy Duty Truck Group Co., Ltd., Dongfeng Motor Group Co., Ltd., Dulevo S.p.A., Dover Corporation, and Magirus GmbH 5. What is the study period of this Market? Ans: The Global Utility Trucks Market is studied from 2022 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Utility Trucks Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Utility Trucks Market 3.4. Geographical Snapshot of the Utility Trucks Market, By Manufacturer share 4. Utility Trucks Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Utility Trucks Market 5. Supply Side and Demand Side Indicators 6. Utility Trucks Market Analysis and Forecast, 2022-2029 6.1. Global Utility Trucks Market Size & Y-o-Y Growth Analysis. 7. Utility Trucks Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 7.1.1. Garbage 7.1.2. Fire 7.1.3. Dump 7.1.4. Sweeper 7.2. Market Size (Value) Estimates & Forecast By Engine Type , 2022-2029 7.2.1. ICE (Diesel, Gasoline, Hybrid, CNG) 7.2.2. Electric 8. Utility Trucks Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Utility Trucks Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 9.1.1. Garbage 9.1.2. Fire 9.1.3. Dump 9.1.4. Sweeper 9.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 9.2.1. ICE (Diesel, Gasoline, Hybrid, CNG) 9.2.2. Electric 10. North America Utility Trucks Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Utility Trucks Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 11.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 12. Canada Utility Trucks Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 12.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 13. Mexico Utility Trucks Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 13.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 14. Europe Utility Trucks Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 14.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 15. Europe Utility Trucks Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Utility Trucks Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 16.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 17. France Utility Trucks Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 17.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 18. Germany Utility Trucks Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 18.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 19. Italy Utility Trucks Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 19.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 20. Spain Utility Trucks Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 20.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 21. Sweden Utility Trucks Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 21.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 22. CIS Countries Utility Trucks Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 22.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 23. Rest of Europe Utility Trucks Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 23.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 24. Asia Pacific Utility Trucks Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 24.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 25. Asia Pacific Utility Trucks Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Utility Trucks Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 26.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 27. India Utility Trucks Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 27.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 28. Japan Utility Trucks Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 28.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 29. South Korea Utility Trucks Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 29.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 30. Australia Utility Trucks Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 30.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 31. ASEAN Utility Trucks Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 31.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 32. Rest of Asia Pacific Utility Trucks Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 32.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 33. Middle East Africa Utility Trucks Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 33.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 34. Middle East Africa Utility Trucks Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Utility Trucks Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 35.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 36. GCC Countries Utility Trucks Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 36.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 37. Egypt Utility Trucks Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 37.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 38. Nigeria Utility Trucks Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 38.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 39. Rest of ME&A Utility Trucks Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 39.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 40. South America Utility Trucks Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 40.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 41. South America Utility Trucks Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Utility Trucks Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 42.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 43. Argentina Utility Trucks Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 43.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 44. Rest of South America Utility Trucks Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Product ,2022-2029 44.2. Market Size (Value) Estimates & Forecast By Engine Type ,2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Utility Trucks Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Applications 45.2.3.2. M&A Key Players, Forward Integration and Backward Integration 45.3. Company Profile: Key Players 45.3.1. Komatsu Ltd 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Komatsu Ltd 45.3.3. Oshkosh Corporation 45.3.4. Rosenbauer International 45.3.5. Daimler AG 45.3.6. BYD Motors Inc 45.3.7. AB Volvo 45.3.8. AEBI Schmidt Holding AG 45.3.9. Bucher Industries 45.3.10. BYD Motors, Inc. 45.3.11. China FAW Group Co. Ltd. 45.3.12. Daimler AG 45.3.13. GROUPE KLUBB 45.3.14. REV Group 45.3.15. China National Heavy Duty Truck Group Co., Ltd. 45.3.16. Dongfeng Motor Group Co., Ltd. 45.3.17. Dulevo S.p.A. 45.3.18. Dover Corporation 45.3.19. Global Environmental Products 45.3.20. Magirus GmbH 46. Primary Key Insights