The “Global and China Heavy Truck Industry Report, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
From 2016 to 2020, China’s heavy truck sales surged from 728,000 units to 1,617,000 units, hitting new records for the consecutive four years. In 2021, a combination of factors such as sluggish freight market and demand overdraft led to an annualized 14.1% slump in the heavy truck sales to 1.39 million units, a figure projected to be around 1.2 million in 2022. It is conceivable that China’s heavy truck ownership will reach 11.7 million units in 2025.
First, the stagnating freight market and the increasing unbalance between supply and demand have brought about slowing demand for heavy trucks since April 2021, and plus a range of other factors like transport overcapacity, falling freight rates, and insufficient construction of infrastructure projects, led to less-than-expected orders from heavy truck end users.
Second, the “crazy growth” of heavy truck market in 2020 overdrew part of demand in 2021. The full implementation of China Phase VI Emission Standards kicked companies into high gear to produce China V models from early 2021, and dealers across the country also went all out to stock up, which moved up the release time of the end demand and caused the plummeting demand for heavy trucks in the second half of 2021.
Third, users’ doubts about the reliability and fuel adaptability of China VI heavy trucks with high price and high use cost slashed the rigid demand. The successive issuance of policies for controlling China V diesel vehicles in some regions made it hard to digest the China V vehicle inventory.
In 2022, the demand for heavy trucks will show a trend of opening low but going up and the market will enter the phase of stock competition, thanks to the Winter Olympics and economic recovery cycle among other factors. First, the resumption of infrastructure projects will create opportunities for the construction vehicle market; second, the goal of “double carbon” (carbon peaking and carbon neutrality) will spur the new energy vehicle market; third, the end of phase-out of China III diesel vehicles and the restriction on China IV ones will leave the scope for replacement and update; fourth, people’s livelihood security and specialized transport will bring opportunities to market segments.
The sales of new energy heavy trucks may enjoy a big growth spurt.
As China works towards the “double carbon” goal, energy saving and emission reduction will be the main theme of the future industrial development. In the first eleven months of 2021, the sales of new energy heavy trucks totaled 7,442 units, a like-on-like spurt of 222.4%, gathering momentum. Wherein, 6,840 units, or 91.91% of the total new energy heavy truck sales were electric heavy trucks, up by 201% compared with the same period of the previous year. It can be seen that electric heavy trucks were the major contributor to the rapid growth of new energy heavy trucks in 2021.
Noticeably, in late December, the Ministry of Finance released a notice on another 30% reduction in new energy vehicle purchase subsidies and confirmed that the new energy vehicle purchase subsidy policy will be terminated on December 31, 2022, that is, vehicles registered and licensed after December 31, 2022 will not be subsidized. This regulation may trigger a big upsurge in sales of new energy heavy trucks in 2022, especially port logistics and urban special vehicles.
Global and China Heavy Truck Industry Report, 2021-2027 highlights the following
- China heavy truck industry (definition and classification, development trends, technology, industry standards, etc.)
- China heavy truck market size (ownership, production, sales, import and export, competitive landscape, etc.)
- Market segments (the market size of complete and incomplete heavy trucks and semi-tractors, competitive landscape, development trends, etc.)
- Relevant industry chain (industry chain, upstream raw materials, downstream investment and real estate development, etc.)
- 15 heavy truck companies including FAW Jiefang, Dongfeng Group, Sinotruk, Foton Motor, Shaanxi Automobile Group, JAC, Hualing Automobile, Qingling Motors, Dayun Automobile, Beiben Truck, SAIC Iveco Hongyan, Tri-ring Special Vehicle, XCMG Automobile, Feidie Automobile and Hanma Technology Group (profile, operation, revenue structure, heavy truck business, development strategy, etc.)
Key Topics Covered:
1. Overview of Heavy Truck Industry
1.1 Definition and Classification
1.2 Technology Introduction
1.3 Emission Standards
1.4 Product Trends
1.5 Self-driving and Telematics
1.5.1 Self-driving Truck
1.5.2 Truck Telematics
1.5.3 The Autonomous Trunk Logistics Market Will Be Worth Nearly RMB1 Trillion in 2030
1.6 Hydrogen Fuel Cell Heavy Truck
1.6.1 Key Drivers for Popularity
1.6.2 Market Updates
1.6.3 Important Issues
2. Overall Heavy Truck Market
2.1 Global Zero-emission Heavy-Duty Trucks
2.3 Output and Sales
2.4 Market Structure
2.5 Competitive Landscape
2.6 Natural Gas Heavy Truck
2.7 High-end Heavy Truck
3. Heavy Truck Market Segments
3.1 Complete Heavy Truck
3.1.1 Output and Sales
3.1.2 Import & Export
3.1.3 Competitive Landscape
3.2 Incomplete Heavy Truck
3.2.1 Output and Sales
3.2.2 Competitive Landscape
3.3 Semi-trailer Tractor
3.3.1 Output and Sales
3.3.2 Import & Export
3.3.3 Competitive Landscape
3.3.4 Market Segments
4. Heavy Truck Industry Chain
4.2 Key Components
4.2.1 Cost Structure
4.3 Raw Materials Market
4.3.1 Steel Market
4.3.2 Rubber Market
4.4 Downstream Market
4.4.1 Infrastructure Construction
4.4.2 Property Development
4.4.3 Highway Freight
5. Key Companies
- FAW Jiefang Automotive Company, Ltd.
- China National Heavy Duty Truck Group Co., Ltd. (SINOTRUK)
- Dongfeng Motor Corporation
- Beiqi Foton Motor Co., Ltd.
- Shaanxi Automobile Group Co., Ltd.
- Anhui Jianghuai Automobile Co., Ltd.
- Anhui Hualing Automobile Co., Ltd.
- Qingling Motors (Group) Co., Ltd.
- Chengdu Dayun Automobile Manufacturing Co., Ltd.
- BEIBEN Trucks Group Co., Ltd.
- SAIC-IVECO Hongyan Commercial Vehicle Co., Ltd.
- Hubei Tri-ring Special Vehicle Co., Ltd.
- Launch of High-end Intelligent Heavy Truck
- Xugong Automobile Manufacturing Co., Ltd.
- Zhejiang Feidie Automobile Manufacturing Co., Ltd.
- Hanma Technology
For more information about this report visit https://www.researchandmarkets.com/r/n5h0c0