Europe’s Share in Vocational Trucks Market to Expand at a CAGR of 22% by 2019
Verfasser: ashwani_kailiya on Monday, 2 September 2019According to a new Fact.MR study, the global vocational trucks market is predicted to expand at a rate of 5.3% CAGR in terms of value during the forecast period, from an historic rate of 3.4%. The global vocational trucks market has experienced its part of ups and downs over the past few years, and specifically during the post economic crises. Owing to the recovery in global economy, the market for vocational trucks is also expected to rise swiftly.
The increasing number of construction activities across the globe has positively influenced the growth trend in the vocational trucks market. Moreover, the demand for vocational trucks is increasing due to the constant expansion of mining industry dump trucks.
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The technological innovations in the building and construction sector also drives the vocational trucks market significantly. As these technology advancements are majorly driven by environmental regulations prevailing in the economies. The technology upgradation in the vocational trucks market has increased and is expected to get a touch of automation in the near future. The rising urbanization and government initiatives towards the infrastructure have fueled the volume sales of vocational trucks worldwide.