The global market for specialty commercial vehicle bodies and cab & chassis OEMS is expected to reach $82.6 billion by 2020.
(PRWEB) October 06, 2015
Wellesley, Mass., October 06, 2015 – The global markets for specialty commercial vehicles have the potential for very significant cyclical swings around their long-term trends, consistent with the timing of their respective macro-economic cycle. BCC Research reveals in its new report that these swings in the developed world are typically as significant as plus and minus 50% of the trend line. Thus, the ratio between the bottom of the trough and the top of the peak can be nearly a factor of a 2:1 ratio.
The global market for specialty commercial vehicle bodies and cab & chassis OEMS is projected to grow from $67.6 billion in 2015 to $82.6 billion in 2020, reflecting a five-year (2015-2020) compound annual growth rate (CAGR) of 4.1%. The global market for truck cab and chassis OEMs is expected to increase from $50 billion in 2015 to nearly $61.4 billion by 2020, with a five-year CAGR of 4.2%. The global market for specialty commercial vehicle builders is expected to reach $17.6 billion and $21.2 billion in 2015 and 2020, respectively, with a five-year CAGR of 3.8%.
Of the total specialty commercial vehicle market, one-quarter of the value is captured by the specialty commercial vehicle body builders and three-quarters by the truck cab and chassis OEMs that build the cab and chassis upon which specialty bodies are mounted.
In 2015, 40% of the global market share is in Asia-Pacific, 30% in North America, 25% in EMEA and 5% in Latin America. Overall, the global market should see a five-year CAGR of 4.1% over the forecast period. Asia-Pacific has the most rapid growth rate with a five-year CAGR of 5.6%, while EMEA has the slowest at a 2.2% five-year CAGR. The highest percentage growth product sector is concrete pumper truck bodies and cab and chassis at a five-year CAGR of 4.7%, thanks to continued growth in China.
The trends in specialty commercial vehicles largely mirror the well-known macro-economic trends. For instance, the highest rate growth of 5.6% belongs to Asia-Pacific, a rate driven significantly by China and less so by India. In EMEA, growth is slow at a 2.2% CAGR while in the Americas, the growth rate is about half way between Asia-Pacific’s high and EMEA’s low.
“The number of manufacturers competing in the specialty commercial vehicle market varies dramatically by product category and global region. Some categories have long been dominated by a select few competitors per region,” says BCC Research analyst Jon T. Gabrielsen. “Historically, some sectors have been quite fragmented, but more recently have seen rapid consolidation within a particular region. Others sectors remain very fragmented even today. The latter sectors may be ripe for consolidation in the near- to medium-term.”
Global Markets for Specialty Commercial Vehicles (IAS105A) examines materials used in transportation applications and equipment such as motor vehicles, aircraft, trains, and ships. The report identifies market dynamics, growth drivers, inhibitors, opportunities, and forecasts trends and revenue through 2020.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at firstname.lastname@example.org.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email email@example.com.