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Box Truck Market Trends

Report ID: GMI8256
Published Date: Feb 2024
Report Format: PDF

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Box Truck Market Trends

The box truck industry has witnessed significant technological advancements. Electric trucks offer lower operating costs and emissions, aligning with environmental regulations and sustainability goals. Modular designs and open platforms may be easily modified with new technologies as they become available, increasing their lifespan and value. Features, such as lane departure warnings, blind-spot monitoring, and collision avoidance systems, enhance safety and reduce accidents, minimizing downtime and insurance costs.

Also, smart features including in-cabin technology, navigation systems, and digital dashboards, enhance the overall driver comfort and productivity. Overall, technological advancements have impacted the box truck industry by increasing efficiency, productivity, safety, and adaptability. This attracts a broader range of firms, accelerates market growth, and lays the path for a more sustainable and efficient delivery ecosystem.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of box truck reached USD 12.9 billion in 2023 and is set to witness 4% CAGR from 2024 to 2032, owing to the rapid growth of online shopping, resulting in a surge in the number of shipments that require delivery worldwide.

The diesel fuel segment recorded over 65% market share in 2023, due to offering, dependability and high torque, which are essential for moving big loads and handling a variety of terrains in commercial settings.

North America market held 24% revenue share in 2023, attributed to rapidly growing logistics and transportation industries, raising the need for product delivery to metropolitan areas in the region.

Daimler AG, Ford, General Motors, Isuzu, Iveco, Mitsubishi, PACCAR, Traton, and Volvo, are some of the major box truck companies worldwide.