Most industries are utilising the technological advancement of this era and the trucking industry is not far behind. It might have not accelerated as quickly as the IT sector but it is soon catching up.
Let’s take a look at the top 10 truck manufacturing companies.
1. Daimler Group
This is the world’s largest truck manufacturing company. The top-class trucks that you see under the name of Mercedes-Benz, Mitsubishi, Freight-liner and many more are all made by the Daimler Group. Their sales figures are simply incomparable.
2. TATA Motors
One of the largest truck manufacturing companies of the world, trucks from TATA Motors are widely used for local transportation and the sale figures every year is massive. This Indian multinational holds almost a 50% share in the complete commercial vehicle segment in India.
3. MAN Truck and Bus AG
MAN is the largest subsidiary of the MAN SE corporation which comes under the Volkswagen AG. Volkswagen has made a reputed name in the non-commercial automobile sector and MAN AG is not lacking much behind. This German enterprise is doing great on the charts.
4. Iveco
Iveco is also a European enterprise based in Turin, Italy but controlled by and owned by CNH Industrial group of Netherlands. Iveco abbreviates to Industrial Vehicles Corporation. It was the first company to build a turbo diesel engine for industry grade heavy vehicles and has been unstoppable since. They hire more than 25,000 employees to meet their demands.
5. Scania
This Swedish commercial vehicle manufacturer has carved a niche for itself in the trucking industry. It also provides diesel engines for other heavy grade vehicles including marine applications. They are excellent in developing cutting edge technology and most of their trucks lately run on the V8 gas engine which essentially consumes 10% less fuel. This multinational firm is also considerate of the environment. You can check out used trucks at Truck1.
6. Dongfeng
The Chinese share a huge market in world manufacturing industries in all domains and they have a big fat share when it comes to the trucking industry too. Dongfeng Motor Corporation, based in Wuhan, China is a state-owned producer of vehicles. In the last couple of years, they have increased their market share by a whopping 7% share in the market which is quite huge.
7. PACCAR Inc.
PACCAR Inc. makes trucks under three different banners which are Peterbilt, DAF, and Kenworth. They have a pretty significant market in the USA and Canada which accounts to almost 29% while in Europe it is marginally lower than the States yet a significant 16% overall market share. It is one of the American Fortune 500 ompanies.
8. Hino
Japanese don’t sit back and relax when it comes to sharing huge market profits. Hino Motors headquartered in Tokyo is a leading producer of medium and heavy grade diesel vehicles and hold a significant market share in Asia.
9. Volvo
Do you need to be told anything about the Volvo group? It was the world’s second largest manufacturer of heavy-duty trucks. Founded in 1928 and based in Sweden, Volvo has employed advanced technology and earned a deserving market position.
10. Navistar International Corp.
Another of the Fortune 500 companies and also a manufacturer of high grade sturdy military trucks along with business commercial trucks. It is based in Illinois and holds a major share in the American and the world market.
There is a lot of complexity involved in truck manufacturing and that’s the reason the top brands sweep away a large market share without hesitation. Most of these brands are a century old or near to that. They have taken time to settle down in the market and develop the brand name that they hold today. They have been doing fairly well and will continue to do so for a long time to come.
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