This article will bring you to the list of truck manufacturing companies in the world. Insider Monkey has recently published an interesting article about it giving you some interesting information. Similar to the automotive, agricultural and construction equipment industries, the truck industry is capital intensive. At the same time, the market size is pretty limited. In 2016, there were 2.68 million medium and heavy duty trucks sold worldwide, a slight increase of 2.4% over the year, according to Frost & Sullivan. In this way, companies buy other brands in order to expand their market share. As you will see from the list on the following pages, most of the top 10 truck manufacturing companies in the world own several brands.
To address the issue of emissions, truck manufacturers have to invest more in R&D in order to build engines and drive trains that are more efficient so as to use less fuel, or even use fuel with lower emissions of carbon, such as LNG. To improve security, truck companies have to include sensors that allow the car to detect potential hazards and either warn the driver or perform the necessary actions to avoid a potential accident.
Now without a further ado let’s see what Insider Monkey has investigated for us. We have picked three of the truck manufacturing companies in the world from their list.
The first one is Scania. Scania is another subsidiary of Volkswagen AG. The Sweden-based company has production facilities in Sweden, France, The Netherlands, India, Argentina, Brazil, Poland, and Russia, plus assembly lines in ten countries in Europe and Africa. Scania recently released a new generation of trucks, which are fitted with new Euro 6 V8 engines capable of reducing fuel consumption by 7% to 10%. The second company is PACCAR Inc (NASDAQ:PCAR). PACCAR Inc (NASDAQ:PCAR) is a Fortune 500 company that makes trucks under the Peterbilt, Kenworth and DAF names. In the U.S and Canada, PACCAR Inc (NASDAQ:PCAR) has 28.5% market share in the Class 8 trucks segment, while in Europe its market share in the medium-duty trucks market amounts to 16.2%. The last company for today is Iveco. Next up on the list of the top 10 truck manufacturing companies in the world is Iveco, a brand of trucks and buses owned by Netherlands-based CNH Industrial NV (NYSE:CNHI). CNH Industrial NV (NYSE:CNHI) delivered 140,200 commercial vehicles in 2016, out of which 4,000 were specialty defense and firefighting vehicles and 9,300 were buses. CNH Industrial NV (NYSE:CNHI) sold most Iveco trucks in Europe, where it has market share of 11.3%.
For any further useful information, read Insider Monkey’s article about top 10 truck manufacturing companies in the world.