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A Strategic Analysis of Global Developments and Their Implication on the European Commercial Vehicles Market - Emerging Economies and Advanced Technology Roadmaps
Frost & Sullivan, Nov 2005
Structural and Technological Changes Pave the Way towards Globalisation of the Market
The European commercial vehicles (CV) market is the scene of much activity today. Ongoing technological advancements and new legislations are creating numerous changes as this constantly evolving market moves towards globalisation. The structure of the industry itself is altering, a trend that is expected to continue until 2010. Rising operating costs in the EU will see European original equipment manufacturers (OEMs) increasingly outsourcing their manufacturing processes to low-cost markets such as Asia. Similarly, growing environmental and safety concerns will drive European governments to implement congestion and emission measures while road freight regulations will lead to substantial changes in vehicle and engine design.
This Frost & Sullivan research service examines the impact of key issues such as technological developments, legislations and new markets on the European CV market. It provides detailed technological roadmaps that map current and future trends, discusses regulatory implications and examines the potential of investing in various emerging markets. The study has been designed to enable companies to formulate strategies with a view to staying a step ahead of the competition.
Safety and Environmental Issues as well as Need for Globalisation Govern Technology Innovation
European OEMs’ eastward shift to emerging and low-cost markets provides them with strong economies of scale as well as significant global presence. The need to reduce operational costs is the objective of almost every market participant. Technological improvements are, therefore, now a basic requirement as participants strive to differentiate themselves as well as satisfy the increasing customer demand for vehicle safety and comfort. Safety concerns combined with growing fears about environmental pollution are driving European governments to introduce several legislations to ensure that all commercial vehicles manufacturers install security systems as well as fuel-efficient and environment-friendly engines.
The European CV market is characterised by constant innovative vehicle design to stay ahead of the competition as well as collaboration among participants to gain greater overall market share and a stronger position, says the analyst of this research service. Market trends reveal that companies are increasingly turning to acquisitions and collaborative ventures with participants in the emerging markets of China, India and Eastern Europe with an aim to consolidate global presence as well as lower costs.
Emerging Markets Hold Huge Revenue Potential for European OEMs
The migration of the European CV market to the East has revealed the huge potential existing in the large, untapped customer base in countries such as China, India and South Korea. These offer new investment areas and hold immense revenue potential, enabling European OEMs to implement innovative and cost-effective methods of operation. At the same time, participants in these emerging markets are likely to contribute significantly to the increase in automotive vehicle volumes in the next few years. This suggests that there will be a need for European vehicle expertise in these markets.
New markets are also heavily dependent on the western market for exports, thus proving that there is a huge investment opportunity for European OEMs, says the analyst. This trend is likely to continue for the next few years, indicating that emerging markets are starting to be a threat as well as an opportunity to European OEMs, due to low prices and growing industry expertise.
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