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High-performance Trucks Market Trends

Report ID: GMI9932
Published Date: Jun 2024
Report Format: PDF

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High-performance Trucks Market Trends

There is a growth toward heightened interest in off-road adventures among consumers, driving the demand for high-performance trucks. Enthusiasts seek vehicles capable of tackling rugged terrain with ease, prompting manufacturers to equip trucks with advanced suspension systems, durable tires, and enhanced off-road capabilities. This trend reflects a shift toward vehicles that offer both recreational prowess and everyday utility, appealing to adventure-seeking demographics.

For instance, in April 2024, Ram unveiled its 2025 lineup of off-road trucks, encompassing both light- and heavy-duty models. The key highlights include a potent 3.0-liter H/O SST engine, having 540 horsepower and 521 lb.-ft. of torque. The trucks are equipped with advanced features such as Bilstein Black Hawk e2 shocks, active terrain dynamics suspension, and rear wheel travel increased by 40%. They offer an impressive 11.8-inch ground clearance, roll on 35-inch tires, and feature modern amenities such as digital display screens, wireless charging pads, and an optional head-up display for enhanced convenience and driver experience.

Another emerging growth in the high-performance trucks sector is the integration of Advanced Driver-assistance Systems (ADAS). As technology evolves, manufacturers are incorporating features such as adaptive cruise control, lane-keeping assist, and automatic emergency braking into these vehicles. This trend not only enhances safety but also improves the overall driving experience, making high-performance trucks more appealing to consumers looking for both power and modern convenience. ADAS technologies are reshaping the segment by offering sophisticated capabilities that cater to the evolving preferences of truck buyers.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of high-performance trucks reached USD 127 billion in 2023 and is set to witness 5% CAGR from 2024 to 2032, owing to the growing need for trucks that can handle heavier loads with ease as lifestyles evolve to include more outdoor activities and work-related tasks.

The automatic transmission segment in the high-performance trucks industry accounted for 75% share in 2023, led by the rising consumer preferences for convenience and performance.

The IC engine propulsion segment in the high-performance trucks market held over 86% share in 2023, led by the growing consumer expectations for robust performance while improving overall engine efficiency and reducing emissions.

North America market recorded around 29% share in 2023, as consumers are increasingly seeking options to tailor their vehicles with unique features, such as specialty paint jobs, custom interiors, and performance enhancements.