HD Commercial Truck Market in China Poised to Grow 4.4%

According to a recent research report, the rapid urbanization of China is leading to a flurry of infrastructure expansions, accelerating the demand for commercial trucks both directly (logistics) and indirectly (construction).

As a result, offering a competitive selling price, ensuring strong aftersales services, and improving technology and supply chain features “will allow participants to expand their share in the Chinese commercial trucks market,” notes Frost & Sullivan

New analysis from the group finds that unit shipments stood at 2.65 million in 2014 and estimates this to reach 3.63 million in 2022 at a compound annual growth rate of 4 percent.

As purchasing power goes up, end users, fleets and leasing enterprises in China are increasingly demanding vehicles incorporated with sophisticated features. The need for value-added solutions will center on vehicle service and maintenance, financing, insurance and telematics-based fleet management.

Chinese original equipment manufacturers (OEMs) are gearing up to meet these requirements with a bevy of truck launches. Consequently, the Chinese commercial truck market is evolving from a basic, original equipment sales, trade, leasing and financing model to an advanced logistics solutions entity.

Category: General Update