Americas Specialized Vehicles Market - Forecast (2020 - 2025)

The weight of a vehicle directly impacts the vehicle’s overall efficiency and range as well as the carbon footprint. To reduce the carbon footprint, there is a dire need to reduce the weight of vehicles. The Americas Specialized Vehicles Market is estimated to grow at a CAGR of 4.2% during the forecast period 2020–2025. The U.S. is forecast to be the fastest growing market with a CAGR of 4.3%, which can be mainly attributed to the growing demand for specialized vehicles from many industries.

Americas Specialized Vehicles Market Outlook

Specialized vehicles are vehicles that are designed to carry divisible loads. Specialized vehicles are categorized into different types of vehicles such as police cars, tow trucks, garbage trucks, ambulances, fire trucks, recreational vehicles, and armored vehicles. According to Industry ARC findings, recreational vehicles will hold the largest market share during the forecast period. Recreational vehicles are used for various purposes such as travel trailers, camping trailers, and motor homes.

The Americas Specialized Vehicles market report comprises the pricing analysis for different types of vehicles. The price of fire trucks is the highest among the counterparts and was estimated at $31,0590.4 per vehicle in 2020.

Americas Specialized Vehicles Market Growth Drivers

Increasing consumer demand for tailored solutions in every segment has boosted the growth of the specialized vehicles market in the Americas. The changing nature of conflicts has also led to the demand for high levels of operational and tactical mobility in defense vehicles. This factor will also implement the use of specialized armored vehicles for defense.

Americas Specialized Vehicles Market Challenges

The rising prices of fuel is one of the major challenges that the specialized vehicles market faces. The increasing use of other alternative means of transport such as Uber, and Taxis in the U.S and the implementation of ride-sharing services have led to the decline in ambulance usage. This is one of the major challenge faced by the ambulance services segment.

Americas Specialized Vehicles Market Research Scope

The base year of the study is 2020, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Americas Specialized Vehicles market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of specialized vehicles in the Americas market, and their specific applications.

Americas Specialized Vehicles Market Report: Industry Coverage

- Types of Americas Specialized Vehicles: Police Cars, Tow Trucks, Armored Vehicles, Garbage Trucks, Recreational Vehicles, Fire Trucks, Ambulances.

- Different Loads of Americas Specialized Vehicles: < 6000 KG, >6000 KG and < 18000 KG, >18000 KG.

The Americas Specialized Vehicles market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions.

The regions and countries covered in the study include:

Americas: U.S., Canada, Mexico, and South America.

Americas Specialized Vehicles Market Key Players Perspective

In September 2020, REV launched the American Dream Class A diesel RV for 2020, which is available in both 42- and 45-foot floorplans, and offers flexibility and luxury.

Some of the other key players mentioned in this report are Rosenbauer Group, Great America Towing, Thor Industries Inc, Ford Motor Company, Dodge, General Motors Company, and Inkas Armored Vehicle Manufacturing.

Americas Specialized Vehicles Market Trends

• Stringent regulations imposed by the governmental bodies on automobile manufacturers are anticipated to affect the market growth. Canada has enforced certain standards aimed at heavy duty vehicles. These new standards are applicable to all new heavy duty vehicles manufactured from January 1, 2020.

• Towing vehicles installed with battery monitoring systems and safer handling systems are increasingly being used as alternatives to traditional manual handling systems.

• The rise of emerging technologies and latest innovations in storage and security vehicles that meet high tech needs of customers has increased the demand in the market.