European Medium and Heavy Commercial Vehicle Market on Strong Footing

Research and Markets has released a new report on the European medium and heavy commercial vehicle market indicating it continues to be on strong footing for the first half of 2017.

August 10, 2017

Research and Markets

The "European Medium & Heavy Commercial Vehicles (MHCV) Market - 2017-2026 - Market Dynamics, Competitive Landscape, OEM Strategies & Plans, Trends & Growth Opportunities, Market Outlook" report has been added to Research and Markets' offering.

The European Medium & Heavy Commercial Vehicles market continues to be on strong footing albeit slightly lower volumes for the first half of 2017, building up on the strong performance of 2016, with the same driven by high fleet capacity utilization as well as renewals and good profitability across fleet operators while most other key global markets face difficult conditions and environment.

Europe has also been instrumental in shaping the technological evolution of the trucking industry globally having led and spearheaded the pace as well as direction of technology development and having proved itself to be the true hotbed for a number of radical technological innovations and inventions over the decades. The trend continues with the European industry focusing strategically on the quartet of Connectivity, Autonomous driving, Safety and Efficiency as the next generation technologies.

European industry OEMs, led by Daimler, Volvo and VW, have been the true global players as they continue to dominate the global medium and heavy truck market, in terms, of sales volumes and market shares, with their scale of operations and technological edge. Europe, thus, continues to be and is likely to remain highly significant strategically for the global trucking industry going forward and an in-depth understanding of the European market, trends and strategies & plans of the OEMs, therefore, becomes highly imperative.

The rapid pace of technology development and adoption by the industry is likely to transform the market landscape altogether over medium term with the evolution of new business models and concepts likely as trucking evolves from being a products to solutions business leveraging technology as the backbone.