According to a recent survey published by FMI, the global Heavy-Truck Composite Component market is expected to grow at a healthy CAGR during the forecast period between 2017 and 2027. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of Heavy-Truck Composite Component over the coming decade.
Advent of Industry 4.0 Technology to Create New Growth Avenues for the Heavy-Truck Composite Component Market
The industrial sector is undergoing a change as firms throughout the world place a strong emphasis on using advanced automation. This is usually referred to as Industry 4.0.
With the emergence of Industry 4.0, manufacturers are emphasising the use of novel technologies such as artificial intelligence, smart manufacturing, the internet of things (IoT), and machine learning, among others. This is expected to generate lucrative growth opportunities in the market for Heavy-Truck Composite Components.
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Additionally, increasing government emphasis building a better manufacturing sector and integration of augmented and virtual reality using smart equipment to enhance the output is estimated to propel the demand in the market for coming years.
Key Heavy-Truck Composite Component Market Takeaways and Projections
- The U.S. is estimated dominate the Heavy-Truck Composite Component market in North America, accounting for the largest share in the region through 2022.
- Germany is projected to account for a significant share in the Europe market over the assessment period.
- China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2017 and 2027
- India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
Report Benefits & Key Questions Answered
- Heavy-Truck Composite Component Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
- Heavy-Truck Composite Component Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Heavy-Truck Composite Component As per the survey, Heavy-Truck Composite Component sales will project steady growth over the forecast period.
- Heavy-Truck Composite Component Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Heavy-Truck Composite Component.
- Heavy-Truck Composite Component Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.
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Heavy-Truck Composite Component Market: Key Participants
Key Participants for the global heavy-truck composite component are following:
- KB Components
- Pagna Composites
- Continental Structural Plastics Inc.
- MW Industries, Inc. (MWI)
- Wausaukee Composites
- Bolwell Corporation
- Creative Composites Ltd.
- Wabash National Corporation
- Utility Trailer Manufacturing Company
- MFG Composite Systems Company
Heavy-Truck Composite Component Market: Segmentation
The global heavy-truck composite component market can be segmented on the basis of Application:
- Exterior Panels
- Hood assemblies, Fenders
- Cowl panels, Roofs
- Exterior trim
- Under Hood Panels
- Fan shrouds
- Windshield wiper housings
- Battery boxes/covers
- interior/exterior, Firewalls
- Engine covers
- Interior Panels
- chassis fairings
- Load floors
- Trim panels
- Others
The global heavy-truck composite component market cab be segmented on the basis of Material:
- Fiberglass
- High Strength Steel (HSS)
- Aluminum & Magnesium
- Others
The global heavy-truck composite component market can be segmented on the basis of components of truck:
- Conventional light weight material
- Moderate light weight material
- Extreme light weight material
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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