North America High Performance Trucks Market
Dodge created an ultimate performance pickup RAM SRT10, by adding the 505-cubic-inch, 500-horsepower V-10 engine straight out of the Viper. Initially this model offered only as a regular cab with a six-speed manual transmission, tires on 22-inch rims and a lowered suspension with Bilstein shocks. The power range, which were initially Zero-to-60 times in the 5-second range were enhanced by a 4.56:1 axle ratio. The aerodynamic enhancements helped the vehicle emerge as one of the fastest production pickup truck at 154.587 mph. Dodge is one of the standout example of companies who got intricately involved in the manufacturing of high performance trucks in North America as well as in the European markets, especially in the last 5 years. The North America high performance truck market has a potential to reach $ X billion by the end of 2020 growing at a CAGR of 11%. The growth of the market could be accounted to the increasing demand of high performance commercial vehicles from the manufacturing and industrial sector
In the U.S., the market growth is expected to remain below historic trends. The forecast for GDP growth is in the range of 2.5% to 3%, which is primarily due to the result of slower than expected global growth. The situation is different in Canada, since low oil prices affect its economy more substantially. However, the commercial truck sales have started to grow faster in Canada than in the U.S. As far as truck sales are concerned, the majority of trucks built in North America are sold in North America. As a result, events that are likely to happen in the United States during 2016 are far more important to the forecast for truck sales than events in the global economy. The construction sector of the U.S. has been performing well, because of the growth in the residential segment and has been significantly strong enough to outweigh a decline in the nonresidential segment. A Y-on-Y growth of around 10% was noted till the year-end of 2015, from 2014 in this sector. High Performance commercial vehicle are essentially required to deliver better performances by aligning and upgrading the vehicle’s engine with superchargers and turbocharger.
The market for high performance pick-up trucks is expected to account for million by the end of 2020, in North America with a CAGR of around XX% during the forecast period. The market for heavy commercial vehicles, especially trucks have been experiencing a sluggish growth rate in the last 3 years for which, the growth rate would be tentative. Volvo, which makes trucks under its Volvo, Renault, Mack and UD brands, had reduced its production for the overall North American truck market this year to 260,000 vehicles, below a previous year number of 280,000 units, and down 14% from 302,000 trucks in 2015. The company delivered 64,507 trucks in North America last year.
The commercial trucks are usually modified for the internal engine components with new pistons, connecting rods, camshafts and other equipment to provide, for instance, a high 400 horsepower with more than 350 lb.-ft. torque, and a boost of over 160 horsepower and 80-100 lb.-ft. torque. The long haul trucks market is expected to account for the highest growth in the high performance truck segment in the region, growing at a CAGR of around 13.88% during the forecast period. The demand for sports trucks is also expected to gain significant traction in North America. These vehicles come with different configurations and are dedicatedly suited for the racing arena. For instance, the 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 and 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 helped to increase imports significantly due to the demand for this segment. In addition, there also has been several initiatives generated to promote high performance electric vehicles in this part of the world. There are innovative electric high performance industrial trucks for reliable and safe materials handling in hazardous areas. Electric Pedestrian pallet Truck is especially used for the transportation of pallets and containers.
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 High Performance Trucks in North America. The market is segmented on the basis of transmission type-Automatic, Automatic Manual, Manual, Multiple Offerings 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 Countries- US, Canada and others. 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, Lincoln, Arden Dodge, Ford, Volvo Trucks and GMC.