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Work Truck Market to Grow 4.1% Globally by 2020

January 11, 2016

By David Cullen

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In 2015, Volvo Penta began supplying UK-based Dennis Eagle, the largest producer of refuse trucks in Europe, with eight-liter Volvo Powertrain engines that meet the new Euro 6 emission rules. Per the Swedish OEM, “Dennis Eagle’s products are unique to the industry due to their low entry… Volvo Penta has been instrumental in helping develop these trucks so they conform to the requirements of the new Euro 6 legislation.” Photo: Volvo Penta
In 2015, Volvo Penta began supplying UK-based Dennis Eagle, the largest producer of refuse trucks in Europe, with eight-liter Volvo Powertrain engines that meet the new Euro 6 emission rules. Per the Swedish OEM, “Dennis Eagle’s products are unique to the industry due to their low entry… Volvo Penta has been instrumental in helping develop these trucks so they conform to the requirements of the new Euro 6 legislation.” Photo: Volvo Penta

The global market for vocational commercial vehicle bodies and cab & chassis OEMs is projected to grow at a compound annual growth rate of 4.1% from $67.6 billion in 2015 to $82.6 billion by 2020.

That’s per a new report on Global Markets for Specialty Commercial Vehicles (Report Code: IAS105A) released by Wellesley, Mass.-based BCC Research.

The report’s author, Jon Gabrielsen, president and CEO of Atlanta-based J.T. Gabrielsen Consulting LLC, told HDT that while work trucks represent “a very fragmented market” due to the wide scope of vehicles in the category, “the global total is far from insignificant.

“The specialty vehicle bodies themselves are a $17 billion market and estimated to grow at a 4.2% CAGR to $21 billion by 2020,” he continued “The chassis cabs that the bodies are mounted on add an additional $48 billion and are estimated to grow at a 3.8% CAGR to $61 billion by 2020, for a total market of $65 billion today, which will increase at a 4.1% CAGR to $83 billion by 2020.”

According to BCC Research, the report provides:

An overview of the global markets for specialty commercial vehicles.

  • Analyses of global market trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020.
  • Coverage of specialty vehicle types including: Street Sweepers, Winter Maintenance Vehicles, Sewer & catch basin cleaners and industrial vacuum truck, Refuse Collection Trucks, Dump Trucks, Concrete Mixer Trucks, Concrete Pumper Trucks, Flatbed Trucks, and Utility trucks.
  • Coverage of end user segments including: Governmental Entities (Federal/State/County/Local), Contractors to Governmental Entities (Federal/State/County/Local), Airports, Contractors to Airports, Construction Material Distributors, Construction Contractors, Utilities, (Power/Gas/Communications), and Tradespersons.
  • Detailed baseline and projected market segment sizes, in both revenue and unit terms, for both application-specific vehicle bodies and for the truck cab & chassis they are mounted on.
  • Company profiles covering both the specialty equipment suppliers and the OEM truck cab & chassis suppliers.

To access an overview of the report and for pricing and ordering information, click here.

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