Global High Performance Trucks Market
Chevy’s Silverado is one of the standout examples, exhibiting the degree of change pickups have undergone in the past 5 years. The vehicle has a classy interior, along with a towing capacity of 12,000 pounds, with more than 420 horsepower, and 460 pound-feet torque. The vehicle with an automatic transmission of V8, can drive from zero to 60 in a mere 5.7 seconds. Apart from Chevrolet, Dodge is also one of the very few companies who got intricately involved in the manufacturing of high performance trucks in North America and Europe, and has generated a huge portfolio of high performance vehicles especially in the last 5 years. The global market for high performance trucks has a potential to touch $ X billion by the end of 2020, growing at a CAGR of over the forecasted period. The growth is mainly due to the increasing demand of high performance commercial vehicles from the manufacturing and industrial sector. Pickup trucks have been in the market for more than a century, but were never meant to be a high-performance vehicle. The primary characteristics of a pickup are the large cargo capacities, heavy-duty components and prolific ground clearance. These features stand as a cliché for a decent performance trucks. However, the demand for downsized engines along with the rampant usage of additional powertrain to boost the engine has brought about the evolution of high performance trucks in the recent years.
The sports segment has also received huge traction in the market with increased emphasis on performance and styling from the racing enthusiasts. The trucks usually have customized components like that of fine-tuned chassis, coupled with highly designed supercharger and intercooler package. The market for high performance sports trucks is expected to account for $ XX million by the end of 2020, growing at a CAGR of around 12.28% during the forecast period. TRD, a concept sports truck, was modified by Toyota with internal engine components of new pistons, connecting rods, camshafts and other equipment to provide 400 horsepower and 350 lb.-ft. torque. This configuration provides a boost of over 160 horsepower and 80 lb.-ft. torque. The engine is coupled to the six-speed manual transmission, using a special billet steel flywheel, which is 30% lighter than the conventional ones. In addition, a version of the Dodge Ram truck features dual racing stripes, performance engine tuning, and 17-inch wheels suited for the racing tracks. The 17-inch wheels are custom aluminum models, which are fitted with ultra-high performance tires. The 5.9L V8 engine boasts an additional 10 horsepower for a 245 hp rating.
The increasing demand for performance trucks in industrial applications has also helped to increase imports significantly. The commercial trucks are also getting modified for the internal engine components with new pistons, connecting rods, camshafts and other equipment to provide the enhanced performance and adequate boost. The long haul trucks are expected to account for the highest growth in the high performance truck segment in the global market. However, stagnancy in the construction and mining activities from Latin American as well as European countries has been a cause of concern in the adoption of them for these geographies.
The report classifies the systems and defines the market size, in terms of value. The study also provides a comprehensive analysis and insights (both, qualitative and quantitative) into each segments of Global High Performance Trucks. The market is segmented on the basis of transmission type-Automatic, Automatic Manual, Manual, and others; vehicle type- Conventional Pickups, Crew Cab, Sport Trucks, Long-haul trucks; Engine- Supercharged Gasoline, Supercharged or Turbocharged Diesel, Conventional Diesel and others and Region – North America, Asia-Pacific, Europe, Middle East and Africa and Latin America. The report showcases potential growth opportunities in the forecast period, while reviewing the market drivers, restraints, opportunities, technology trends, market dynamics, competitive landscape, and other key aspects like value chain with respect to high performance trucks. The report covers qualitative aspects such as Analyst Outlook for Investment, and Porter’s five force analysis for the market. The key players in this market have also been identified and profiled. Some of the key players dominant in the market mentioned in the report are Chevrolet, Volvo trucks, Lincoln, Arden Dodge, Toyota, and GMC.