The top 10 truck manufacturing companies control a major portion of the market value in the entire trucking industry. The reason behind this high market value of just a few companies is the complexity of the industry. The trucking industry is not as simple as it seems. Surely, trucking needs a lot of resources, expense and promises to deliver success. Companies featured in this rundown are the ones which worked hard to get to the current level of success and deliverance. This list comprises the information about the top 10 truck manufacturing companies with regards to the number of trucks sold in the last year.
Like the car, horticultural and development hardware businesses, the truck business is capital escalated. In the meantime, the market measure is truly restricted. In the last year, there were approximately 2.68 million trucks sold around the world. Along these lines, organizations purchase different brands keeping in mind the end goal.
As you will see from this list of top 10 truck manufacturing companies, most truck manufacturers own a few brands.
Beside the little market size, there are different difficulties that Original Equipment Manufacturers (OEMs) in the truck business are confronting. However, there is a lot of advancement introduced in the industry. The Governments are forcing more strict rules regarding the sizes and quality of trucks. Moreover, governments and trucking industry are taking steps to prevent global warming.
Fortunately for the trucking industry, there is a lot of research that can address most issues and enhance the driving knowledge. The issue is that with a few highlights being obligatory, truck makers confront higher expenses of generation. This prompts either higher costs and lower request, or lower edges and financial related outcomes.
Be that as it may, in the meantime, latest technology and adaption of the latest advancement in the trucking industry have offered the truck manufacturers to make trucks that will use alternative energy sources. Trucks that are powered by electric batteries have been launched already. With the current pace towards the settlement of the alternate energy source, the future of trucking seems bright.
Top 10 truck manufacturing companies:
Having said that, we should investigate the top 10 truck manufacturing companies on the planet. The rundown depends on the aggregate number of trucks these organizations sold in the last year.
Total number of trucks sold: 81,350
Scania is a subsidiary of Volkswagen AG. The Sweden-based organization has generation offices in Sweden, France, The Netherlands, India, Argentina, Brazil, Poland, and Russia. Additionally, the company also operates 10 different power generation units in the world. Scania as of late discharged another range of trucks, fueled by a V8 gas engine. These newest Scania trucks consume approx. 10% less fuel.
Total number of trucks sold: 83,200
Another subsidiary of Volkswagen AG, MAN is also among the top 10 truck manufacturing companies. MAN has recently made a deal the German trucking company DB Schenker; which has impacted the total sales of the company.
8. PACCAR Inc
Total number of trucks sold: 104,900
PACCAR Inc makes trucks under the Peterbilt, Kenworth and DAF names. In the U.S and Canada, PACCAR Inc has 28.5% market shares in the Class 8 trucks section, while in Europe its total market share in the medium category trucks market ads up to 16.2%.
Total number of trucks sold: 134,300
Next on the list of top 10 trucks manufacturing companies is also a European company Iveco. A Netherlands-based CNH Industrial NV owns Iveco trucks and parts. CNH Industrial NV sold around 140,200 trucks in the last year. In Europe, the total market share of Iveco is 11%
Total number of trucks sold: 171,800
Hino is a Japanese maker of trucks and transports. The organization enrolled an expansion in offers of heavy and medium category trucks in Japan, as general request expanded, with Hino having 37.7% share of the overall industry in the nation.
5. Volvo Group
Total number of trucks sold: 190,424
Another European truck manufacturing company; Volvo Group additionally manufactures trucks under the Volvo, UD, Renault Trucks, and Mack, Eicher, and Dongfeng Trucks names. Its truck deals represent 66% of the total beneficial deals of the company. In the last year, Volvo sold 300,00 trucks from all across the Europe.
4. Navistar International Corp
Total number of trucks sold: 313,600
Navistar International Corp positions fourth in this list of top 10 truck manufacturing companies. It is a Fortune 500 organization that manufactures business and military trucks under the International brand as well as restrictive diesel motors and transports under the IC mark.
Total number of trucks sold: 369,100
Dongfeng is a Chinese state-claimed producer of vehicles and is one of the biggest in the nation in terms of their market share, controlling 11% of the total market. Additionally, the organization sold 369,100 business vehicles in 2016, which resulted in an expansion of another 7% throughout this year.
2. TATA Motors Limited
Total number of trucks sold: 388,396
TATA Motors Limited is surely one of the biggest truck manufacturing companies in the entire world with a total sale of around 400,000 trucks. Although, TATA is more famous at the local level and is mostly used for domestic transportation; however, the number of trucks sold by the company in one year is significant.
1. Daimler Group
Total number of trucks sold: 415,108
Undoubtedly, Daimler is the top truck manufacturing company. Daimler is a truck producer that additionally makes trucks under the brands Mercedes-Benz, Western Star, Freightliner, Mitsubishi Fuso, and BharatBenz. Surely the top company with unrealistic annual sales, Daimler undoubtedly tops the list of top 10 truck manufacturing companies.