Opportunities for Composites in the North American Automotive Market 2012-2017: Trends, Forecast, and Opportunity Analysis
- Language: English
- 155 Pages
- Published: July 2012
- Region: North America
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Brief Excerpt from Industry Overview Chapter:
Companies in this industry manufacture medium and heavy-duty trucks, as well as buses. Major companies include PACCAR and Navistar International (US), China FAW Group and Dongfeng Motor (China), Daimler (Germany), Tata Motors (India), and Volvo (Sweden). The industry includes companies that manufacture and assemble complete vehicles and companies that supply vehicle chassis to assembly plants.
Globally, the leading countries for heavy truck and bus manufacturing include China, Germany, India, Sweden, and the US. Worldwide sales of commercial vehicles are about 25 million units per year, according to IHS Automotive and KPMG International.
The US heavy truck and bus manufacturing industry includes about 80 companies with combined annual revenue of about $20 billion and is expected to grow at a low rate in the next two years. Key growth drivers for truck manufacturers include expansion within major customer segments such as agriculture and retail; demand in the bus segment is tied to population growth and transportation funding.
Heavy truck demand is driven by growth in the agriculture, manufacturing, construction, and retail sectors. Bus demand is driven by growth in the number of school-aged children and investment in public transportation systems. The profitability of individual companies depends on volume and sales of high-margin options. Large companies enjoy economies of scale in purchasing. Small manufacturers can compete by offering highly customized products. The US industry is highly concentrated: the top 20 companies account for about 95 percent of revenue.
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