The Global Automobiles and Heavy Equipment Market was valued at US$ 276.51 billion in 2021 and is predictable to reach US$ 719.25 billion by 2030 which is projected to attain a CAGR of 11.2 % during the forecast period from 2021- 2030.
Advancements in technology are a prominent factor that is gaining traction in the automobile and heavy equipment industries. Major vehicle and heavy equipment manufacturers are concentrating on producing cutting-edge technological solutions.
According to a paper issued in June 2020 by the Victoria Transport Policy Institute on autonomous vehicle implementation projections, autonomous vehicles would be dependable, economical, and safe by 2025, and commercially available in many places by 2030. Amazon began employing Embark's self-driving trucks to carry freight more quickly in 2019.
Sales of vehicles and heavy equipment trucking services and related commodities by businesses (organisations, single traders, and partnerships) that provide over-the-road transportation of automobiles and heavy equipment make up the automotive and heavy equipment trucking market. Only commodities and services that are transferred between businesses or sold to end users are embraced.
Business services, managed services, system integrators, and others are the most common types in the car and heavy equipment trucking sector. Various businesses provide over-the-road transportation of automobiles and heavy equipment as part of their business offerings.
The market for automobiles and heavy equipment is predicted to rise during the forecast period owing to rising demand for autonomous transportation. An autonomous car employs a completely automated driving system to enable it to react to environmental conditions that a human driver would handle.
ACL Airshop, for example, are using CoreInsight Node Technology in 2020 to provide enhanced unit load (ULD) tracking with a Bluetooth ULD Tracking system for freight management, carrier shipment marking, air cargo monitoring, asset tracking, and reporting solutions. By correctly monitoring cargo with the use of ULD devices, CoreInsight Node Technology allows producers to monitor deliveries, manage business intelligence (BI) packages, and assist in activities remotely.
Based on regional insights, the global automobiles and heavy equipment market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).
In 2021, Asia Pacific was the largest market for vehicles and heavy equipment and North America was the second-largest market.
The Global Automobiles and Heavy Equipment Market is segmented by type, application, and size. Based on type, it is bifurcated into managed services, business services, system integrator, and others. The application segment is categorized into medium & heavy trucks, car & light trucks, farm & construction equipment, and others. By size it bifurcates into light trucks, heavy trucks, and medium trucks.
Prominent players inducing the Global Automobiles and Heavy Equipment Market are CEVA Logistics, FedEx Freight, Schneider National, J.B. Hunt Transport, American Rail Center Logistics, DHL, United Parcel Service, and C.H. Robinson among others.
Segmentation and Scope of the Global Automobiles and Heavy Equipment Market
Global Automobiles and Heavy Equipment Market is segmented by type, application, size, and region.
Rest of World
Middle East & Africa
Prominent players in the Global Automobiles and Heavy Equipment Market among other includes