Central Europe Heavy Ground Transportation Vehicles Market Worth $66.6 Bn by 2030

The Central European heavy ground transportation vehicles market growth is largely attributed to the rising trade activities and technological advancements, especially in electric and hybrid vehicles. Therefore, the market is projected to generate $66.6 billion by 2030, progressing at a CAGR of 5.0% during 2021–2030.

The COVID-19 pandemic had a significant negative effect on the growth of the Central European heavy ground transportation vehicles market, visible in the massively reduced sale of trucks and buses. The greatest drop in truck sales was seen in Poland, Austria, the Netherlands, and Belgium. Due to the COVID-19 restrictions and lockdowns, the supply chain and manufacturing facilities in the region were impacted, which resulted in the slowdown of the market growth. After the removal of the restrictions and lockdowns, the market is expanding again. Tourists and everyday commuters are the key contributors to the market growth, as the need for land transportation is majorly driven by them.

Automatic-Transmission-Based Trucks Are Gaining Momentum in Market

Trucks with automatic transmissions are in high demand because they are easier to drive and more powerful than those with manual transmissions. They also have a simpler system, which allows the engine to run more efficiently, thus resulting in higher fuel efficiency and cost savings.

Electric and Hybrid Bus Sales Are Growing Faster than of ICE Variants

Electric and hybrid buses are expected to grow at the higher CAGR, of over 10%, during 2021–2030. This will mainly be because many Central European countries have framed emission policies to achieve their environmental targets. Moreover, many countries are providing subsidies for electric vehicles and increasing the taxes on conventional vehicles. Therefore, with the continuous increase in the number of electric vehicles in operation, the electric and hybrid category is expected to gain a significant market share over this decade.

Partnerships & Collaborations Aiding Market Players in Business Growth

Players in the heavy ground transportation vehicles market have been involved in strategic partnerships, collaborations, and other developments to dominate the competition. For instance, in December 2021, Traton Group, Daimler Truck, and Volvo Group collaborated to install and operate a high-performance network for battery-electric, heavy-duty long-haul trucks and coaches across Europe. The parties are commencing and expediting the setup of the necessary infrastructure for Europe's growing number of electric vehicle users, in order to contribute to climate-neutral transportation by 2050.

Moreover, in May 2020, Daimler Truck AG and Shell New Energies NL B.V. signed an agreement to jointly drive the adoption of hydrogen fuel-cell trucks in Europe. The companies plan to support the decarbonization of road freight by building hydrogen refueling infrastructure and offering fuel-cell trucks.

The major players operating in the Central European heavy ground transportation vehicles market are Alstom Holdings, CRRC Corporation Limited, Hitachi Ltd., Stadler Rail AG, Siemens Aktiengesellschaft, Wabtec Corporation, CNH Industrial N.V., AB Volvo, Mercedes-Benz Group AG, Traton Group, PACCAR Inc., CAF Construcciones y Auxiliar de Ferrocarriles S.A., Mitsubishi Fuso Truck and Bus Corporation, VDL Bus & Coach B.V., BYD Motors Inc., Toyota Industries Corporation, SAIC Motor Corporation Limited, and Stellantis N.V.