A new report from Research and Market says the global medium and heavy truck markets declined 2.9% in 2008, reaching a value of just $295.4 billion.
The report, entitled "Medium & Heavy Trucks: Global Industry Almanac," also forecast a 54.4% increase in the global market by 2013, representing $454.1 billion. Volume was down 5.5% to 6.7 million units in 2008, it said, but predicted a 39.7% increase, to 9.3 million units, by 2013.
It also said sales of commercial vehicles account for 73.2% of the global medium and heavy truck markets volume with the Americas accounting for 51.8% of the market.
The report includes detailed data on market size and segmentation, textual analysis of the key trends and competitive landscape, and profiles of the leading companies. The medium and heavy trucks market includes commercial vehicles, buses and coaches, heavy commercial vehicles and heavy buses and coaches (HBCs).