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Summary
The global truck market, particularly for trucks over 3.5 tonnes, has seen continual growth due to the expansion of the construction sector, logistics, and the surge in e-commerce, driving the demand for trucks. Following an estimated annual growth rate of 8% up until 2022, the market was projected to reach $352 billion by that year. With trucks constituting 84% of the total production volume in the heavy and medium truck segment, production was anticipated to grow at a CAGR of 2.6% throughout the period. China dominated global production with 42.7%, with Europe (20.8%) benefiting from technological innovation in electric and autonomous trucks.
The French market also experienced robust growth, with a 37% increase in new registrations. The truck market, however, faced challenges from the Covid-19 pandemic, which impacted demand and disrupted the sectors that are primary consumers of trucks like road freight and construction. The regulatory framework, particularly in Europe, continued to evolve with stringent pollution standards and CO2 emission reduction agreements, as well as advancements in low-emission zones and intelligent tachograph systems. As of 2020 and beyond, the market's trajectory would be shaped by these factors along with the recovery from the pandemic's impact.
Dynamic Growth and Technological Advancements Driving the French Truck Market
As we observe the vibrant French truck market, it becomes apparent that the sector reflects both tremendous dynamism and an inclination towards technological progress. The truck market, a vital component of the French economy, is closely tied to various industry sectors, each demonstrating a keen reliance on these heavy vehicles for their operations. The robust connection between truck demand and key economic activities is unmistakably pronounced. Specifically, road freight transport, a primary user of trucks, constitutes approximately 32% of the overall fleet.
With the rise and fall of freight activities, corresponding fluctuations in new truck registrations are observed—a relationship that signifies the deep entanglement between truck demand and goods transportation. For example, as freight activities increased by close to 13%, truck registrations saw a parallel growth of nearly 31%. This correlation underscores the truck market's sensitivity to the vibrancy of the road freight sector. The construction industry, contributing 13% to the truck fleet, is another significant end-user. This segment necessitates a wide array of specialized trucks, such as concrete mixers or dump trucks, directly supporting on-site operations. Reflecting the economic health of this sector, the turnover experienced a rebound of approximately 18% post-2016 after a period of deceleration.
Correspondingly, the demand for trucks echoed this recovery, illuminating the symbiotic relationship between infrastructure development and the truck market. Retail trade and the burgeoning field of e-commerce also exert a substantial impact on the demand for trucks. As e-commerce revenue soared by roughly 66%, the need for transportation of goods straight to customers' doors surged. This shift in consumption patterns potentially expands the truck market's horizons, although it is critical to consider the variation in vehicle types utilized for delivery, particularly in urban settings. In terms of market structure, the French truck market is dominated by a few heavyweight manufacturers such as Renault Trucks, Mercedes, and DAF.
Collectively, a small number of producers own nearly all the market share, portraying a highly concentrated industry with substantial entry barriers. Distribution channels play a pivotal role, with independent dealers and manufacturers' networks vying for dominance. Interestingly, the industry has witnessed a growth in employee numbers by around 12%, hinting at a trend towards market consolidation. When it comes to vehicle acquisition, leases with an option to purchase emerge as the preferred financing route.
Prominent Leaders Shaping the Global and French Truck Market
The global and French truck markets are commanded by a cohort of prominent manufacturers that have anchored their influence through extensive product ranges, technological innovation, and strategic distribution channels. These key players have been integral in driving the truck industry forward, catering to a myriad of demands stemming from various sectors including construction, logistics, and e-commerce.
- Renault Trucks - A Native Titan with Global Reach: Topping the chart in France, Renault Trucks holds a dominant position. Being a part of the Volvo Group, this manufacturer’s legacy in the industry is marked by a comprehensive product range that addresses every segment of the market. With significant investments in four production sites across France and a robust workforce, Renault Trucks not only leads the charge in France but is also a significant player on the global stage.
- Daimler AG (Mercedes-Benz Trucks) - Ingenious Innovation and Prestige: Daimler, with its Mercedes-Benz Trucks, is synonymous with quality and innovation. This global giant has pushed the boundaries of what is possible in truck design and performance. As a sizable stakeholder in production, it brings German engineering excellence to the roads of the world, addressing the needs of diverse clientele with its cutting-edge technology.
- DAF Trucks - Efficient and Reliable Workhorses: DAF Trucks, known for their reliability and efficiency, have carved out a significant market share. Their focus on user-friendly design and cost-effective transport solutions resonates with a clientele prioritizing total cost of ownership and operational efficiency.
- Volvo Trucks - Pioneers in Sustainability and Safety: Apart from owning Renault Trucks, Volvo Trucks stands out as a thought leader in sustainability and safety. The company is at the forefront of electric truck development, aspiring to lead the shift towards more environmentally friendly transport solutions.
- Volkswagen Group (MAN & Scania) - A Diverse Ensemble with a Comprehensive Portfolio: The Volkswagen Group fortifies its market position by owning MAN and Scania, whose trucks are renowned for their stamina and innovative features. Together, they offer a broad portfolio that stretches across various customer needs, ensuring no segment of the market is left untended.
- Peugeot - Versatility in the Light Truck Segment: Although Peugeot does not venture into the heavy truck segment, its prowess in the light commercial vehicle market is notable. The brand has successfully adapted its passenger car expertise to create versatile and durable light trucks like the Peugeot Boxer, capturing a distinct niche in the market.
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Inforamtion
- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 12/11/2020
Summary and extracts
1 Market overview
1.1 Definition and scope of study
A truck is a motor vehicle used, in most cases, for the road transport of goods and with a GVW (Gross Vehicle Weight Rating) of more than 3.5 tonnes. There are also different models of trucks according to their configuration and we will study in this study the straight trucks , road tractors s, the trailers and semi-trailers . They may have different characteristics depending on their uses. For example, there are dump trucks s, of the vans (sometimes refrigerated) flatbed trucks etc. We will mainly focus on the new market but will also discuss the opportunity in the distribution section
With an estimated average annual growth rate of 8% until 2022 (estimate made before the Covid-19 crisis), the world truck market should be extremely dynamic thanks to the construction growth s, particularly in emerging countries, and in the development of logistics services and the e-commerce . However, the pandemic hit the sector hard by putting a stop to the major customer sectors of truck manufacturing
Europe will account for 20.8% of the volume production of heavy and medium trucks in 2018 in particular thanks to the presence of world-class manufacturers in Germany and Sweden
In France, the market is also extremely dynamic, with a 37% increase in the number of new registrations between 2013 and 2019 . The growth of the sector is driven by road freight and construction, which are the main outlets for trucks in France
The truck market is dominated by a few manufacturers (Renault Trucks, Mercedes, DAF, etc.), which leaves little room for new entrants with significant entry barriers . We are also interested in distributors and truck financing methods (leasing, conventional credit, etc.).
Finally, the construction of trucks is a breeding ground for development of technical innovations including in the electrical field and the self-propelled truck that will contribute to the future dynamism of the market
List of charts
- Évolution du marché mondial des camions (d'un tonnage supérieur à 3,5 tonnes)
- Production mondiale des bus et poids lourds et moyens
- Répartition des domaines d'utilisation des camions porteurs
- Répartition des domaines d'utilisation des tracteurs routiers
- Répartition des immatriculations véhicules de transport de marchandises
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Latest news
Renault Trucks believes in the potential of electric trucks - 28/03/2024
- The 100% electric segment is still small on the European market, with less than 3,200 trucks out of a total all-makes market of 370,000 vehicles.
- in France, the figure is just over 1%, or 550 of the 48,000 trucks registered in 2023
- Market leader in France for trucks over 6 tonnes among the eight brands present, with a 27.3% share of orders.
- The Swedish Volvo Group (trucks, buses, construction equipment, etc.) has sales of over 55 billion euros
- Renault Trucks, we represent only 10% of the entire Volvo group
Retrofleet launches series production of electrically converted coaches - 18/06/2023
- Retrofleet specializes in retrofitting trucks and vehicles for professional use.
- The prototype Iveco Crossway coach passed the homologation tests of the Union technique de l'automobile, du motocycle et du cycle last April.
- Four models will be delivered this summer, three to Keolis and one to Transdev.
- The retrofitted vehicles will have a range of 150 kilometers.
- The price of a retrofitted vehicle is half that of a new electric one.
- The production target is 20 vehicles per month.
- Retrofleet aims to homologate a Mercedes-Benz Intouro in 2024, and estimates that it will be able to cover 80% of the European vehicle fleet.
- The company is expected to employ between 50 and 100 people.
- Current sales are in excess of one million euros, and should rise to around ten million euros by next year.
- The five-year target is 150 million euros Europe-wide.
Hino and Fuso brands merge following Japan earthquake - 31/05/2023
- Merger of local truck subsidiaries: Hino (Toyota) and Mitsubishi-Fuso (Daimler Truck)
- Joint company listed on the stock exchange and equally owned by the two parent companies
- Aims: develop and produce new-generation trucks (electric, hydrogen, autonomous driving)
- Hino to be condemned in 2022 for irregularities in the homologation of its engines
- Toyota holds 50.1% of Hino's capital
- Hino's best-selling models banned from production until the end of August 2023.
- Poor results for Fuso, owned by Daimler Truck, affecting the German group's operating margin
Holcim orders 1,000 electric trucks from Volvo Trucks - 24/05/2023
- Holcim, the Swiss cement and building materials giant, has placed an order with Volvo Trucks for 1,000 electric vehicles.
- The models concerned are the Volvo FH and Volvo FM, and will be deployed in Europe by 2030.
- the first 130 trucks will be delivered in the fourth quarter of 2023 and throughout 2024 in France, Germany, Switzerland and the UK.
- The Volvo FH can reach a gross vehicle weight of 44 tonnes, a maximum power output of 490 kW, and a maximum range of 300 kilometers.
- Holcim is aiming for a 30% reduction in zero-emission trucks by 2030.
Daimler Trucks invests €50 million in its Evobus subsidiary - 16/05/2023
- Year Sitra bus plant opened in Ligny-en-Barrois: 1980
- Ligny-en-Barrois site: largest private employer in the département, with 650 employees
- New investment by Daimler Buses: 50 million euros
- European directive target: 100% CO2-free vehicles by 2030
- By 2022, the French market will be 30% electrified
- The Ligny-en-Barrois site will serve: the French market and a dozen other countries
Renault Trucks takes the lead in electric trucks - 23/03/2023
- In 2022, the various alternative energies (electric, NGV gas, B100) accounted for 20% of orders for vehicles over 6 tonnes, compared with 14% the previous year, and this share is set to rise to 25%
- They account for 24% of orders in the 16- to 26-tonne French market
- - 500 electric trucks delivered in France by 2020
- - 2,200 trucks running on B100 biofuel in 2020
- - 13,500 trucks delivered in France in 2020
- - 300 to 400 million euros invested per year in batteries
- - 20% increase in truck list prices in eighteen months
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