* Emerging Market trucks: revenues set to soar
Boston,MASS,USA -The Financial Times (UK), by Keyur Patel -February 28, 2012: -- The US may have been the world’s fastest growing big car market in 2011 - but according to the Boston Consulting Group, it looks like emerging markets will continue to dominate the global truck industry over the next decade... In a report released on Tuesday, the US-based management consultancy said it expected truck sales in the Bric markets to grow to almost five times their 2000 level by 2020, What’s more, low-cost trucks will lose their dominance, replaced by a rapidly growing ‘midmarket’ – meaning that manufacturers should see their revenues surge... In 2010, the Brics accounted for almost three quarters of global truck sales – up from a third just 10 years earlier. That’s set to slip to 64 per cent by 2020, as other EMs and mature markets both make small gains, but still represents a sizable majority... At present, the global truck market is dominated by two broad segments: low-cost and premium. As you’d expect, low cost truck sales are concentrated in emerging markets; premium sales in mature markets... That structure is set to change. Increasingly, Bric customers are demanding improved comfort, safety and efficiency – but not at premium prices – prompting the growth of a tier of truck between the traditional categories. The report forecasts that 70 per cent of truck sales in the Brics – and 44 per cent of the world’s total – will come from this midmarket by 2020... And truck makers stand to benefit. Revenues in India and China are projected to grow at at least twice the pace of sales volumes...Labels: trucks markets worldwide
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