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The global heavy duty truck market in China is expected to reach a total of over 1 billion units by the end of the forecast period (2013-2018). It is experiencing a decline in growth in recent years with premium manufacturers like Mercedes-Benz shutting down factories to overcome losses. It had accumulated almost USD 17 billion in sales in 2012. The market is heavily reliant on the logistics industry.Heavy duty trucks are mainly used by cement, steel, coal mining, import and export, and infrastructure appliances industries. But the development of smart cities in China is expected to positively impact the market. The market is segmented by products and regions.
Products include special purpose trucks, heavy duty gasoline trucks, heavy duty diesel trucks, and buses, firefighting trucks, and other vehicles. Heavy duty gasoline trucks will be difficult to manufacture due to the rising prices of gasoline. Also carbon emissions by these trucks have generated a negative image. But Obama’s new climatic policy which has been approved by the EPA can reduce fuel costs by USD 170 billion in the coming years.
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All regions of China operate at different rates according to technology developments and regulatory policies. This is expected to eventually stabilize in the near future. China’s economic growth has given rise to many small competitors. Prominent manufacturers in the Chinese heavy duty truck market are Beiqi Foton Motor Co. Ltd., Chery Automobile Co. Ltd., Dongfeng Commercial Vehicles, and Sinotruk Group. Mergers and partnerships are a common strategy adopted by companies to stay afloat in the market.
For instance, Mercedes-Benz has partnered with Beiqi Foton Motor to develop its new brand of heavy duty trucks. These trucks would be fuel-efficient and compliant with the standards of the country which can cope with the rough terrain. Dongfeng Commercial Vehicles is another serious competitor which has gradually moved from manufacturing medium duty trucks to heavy duty trucks.
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