The Business Research Company’s Automobiles And Heavy Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, February 22, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Read More On The Global Automobiles And Heavy Equipment Market Report: https://www.thebusinessresearchcompany.com/report/automobiles-and-heavy-equipment-global-market-report
The growing demand for autonomous transportation is expected to drive the growth of the automobiles and heavy equipment market over the coming years. The automobiles and heavy equipment trucking market consists of sales of automobiles and heavy equipment trucking services and related goods by entities that provide over-the-road transportation of automobiles and heavy equipment. To enable the automobile to react to external conditions that a human driver will handle, an autonomous vehicle utilizes a fully automated driving system. According to the Victoria Transport Policy Institute’s report on autonomous vehicle implementation predictions published in June 2020, autonomous vehicles will be reliable, affordable, and safe by 2025 and are predicted to be commercially available in many areas by 2030. In 2019, Amazon started using Embark's self-driving trucks to move freight faster. Moreover, in 2020, Mercedes-Benz released their semi-autonomous truck prototype scheduled for 2025. Therefore, the growing demand for autonomous transportation drives the growth of the automobiles and heavy equipment market.
The global automobiles and heavy equipment market is expected to grow from $244.88 billion in 2020 to $271.59 billion in 2021 at a compound annual growth rate (CAGR) of 10.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $394.85 billion in 2025 at a CAGR of 9.8%.
The major players covered in the heavy machinery and vehicles industry and construction equipment industry are American Rail Center Logistics, CEVA Logistics, DHL, FedEx Freight, United Parcel Service, Schneider National, C.H. Robinson, J.B. Hunt Transport.
Automobiles And Heavy Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides automobiles and heavy equipment market overview, forecast automobiles and heavy equipment market size and growth for the whole market, automobiles and heavy equipment market segments, and geographies, automobiles and heavy equipment market trends, automobiles and heavy equipment market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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