The truck industry is highly complex and not that simple as people might generally think it to be. In order to deliver success, trucking needs to put into a lot of expenses, resources and must be determined all the time to deliver success. Knowing that there are some good heavy automobile companies around who made it to the top, you will be introduced to all the top ten biggest truck manufacturer companies through this blog.
Time has tested these manufacturing companies, but they have stood strong and are here to stay for a long time. Just like development hardware, horticulture, and car business, truck business is also capital escalated. Last year around 2.68 million hefty road automobiles were sold out from all over the world. With the increasing advancement in the hefty automobile industry domain, more and more different types of large vehicles are being manufactured under strict Government rules. One of the reasons why the government has stepped in is to prevent global warming.
A lot of research is being done to address some of the truck-related issues. But even to address those issues, heavy vehicle manufacturers incur a great number of expenses. This results in higher cost value and lesser demand or else other finance-related constraints. Nevertheless, with the latest advancement in the heavy automobile industry, we have seen the introduction of heavy vehicles that use alternative energy sources. For example, a heavy vehicle that operates on electrical batteries. These new high-tech hefty lorries have already been launched. With all this advancement, we are hopeful about the heavy automobile industry’s future.
The top truck manufacturing companies control a major portion of the market value in the entire trucking industry. The reason behind this high market value of just a few companies is the complexity of the industry. The trucking industry is not as simple as it seems. Surely, trucking needs a lot of resources, expense and promises to deliver success. Companies featured in this rundown are the ones which worked hard to get to the current level of success and deliverance. This list comprises information about the top 10 truck manufacturing companies with regards to the number of trucks sold in the last year.
Like the car, horticultural and development hardware businesses, the truck business is capital escalated. In the meantime, the market measure is truly restricted. In the last year, there were approximately 2.68 million trucks sold around the world. Along these lines, organisations purchase different brands keeping in mind the end goal.
As you will see from this list of top truck manufacturing companies, most truck manufacturers own a few brands.
Besides the little market size, there are different difficulties that Original Equipment Manufacturers (OEMs) in the truck business are confronting. However, there is a lot of advancement introduced in the industry. The Governments are forcing more strict rules regarding the sizes and quality of trucks. Moreover, governments and the trucking industry are taking steps to prevent global warming.
Fortunately for the trucking industry, there is a lot of research that can address most issues and enhance the driving knowledge. The issue is that with a few highlights being obligatory, truck makers confront higher expenses of generation. This prompts either higher costs and lower request, or lower edges and related financial outcomes.
Be that as it may, in the meantime, latest technology and adaption of the latest advancement in the trucking industry have offered the truck manufacturers to make trucks that will use alternative energy sources. Trucks that are powered by electric batteries have been launched already. With the current pace towards the settlement of the alternate energy source, the future of trucking seems bright.
This report is a proven and reliable global truck industry reference tool. It is a necessity for those involved in the competitor analysis and strategic planning in the global commercial vehicle industry. It is divided into three main sections:
An analysis of the structure and profitability of the world’s truck industry, looking at the performance of the sector through the demand cycles of the past 20 years. The current pressures shaping the industry are detailed and their implications discussed, including mergers, acquisitions and alliances, environmental legislation and the push to establish leadership in emerging markets.
For each of the key truck manufacturing groups, the report provides comprehensive profiles analysing the major operational issues, including:
- Performance – Discusses recent results in detail, comparing them with the results of the past 18-20 years and charting revenue and profit trends
- Business structure – Evaluates the businesses strategy, structure and planned development
- Markets – Unit sales by the market over the past 3-5 years are presented and sales plans discussed
- Models – Current model ranges and product development plans are discussed
- Production strategy – Unit production data is provided along with capacity expansion and consolidation plans
- Notes on the accounts – Identifies the pitfalls to be avoided when interpreting the financial data for each company
The backbone of the report is the supporting database of financial statistics and performance ratios covering all the world’s major truck manufacturers and their key subsidiaries from 1983 onwards. This comprehensive database provides an unrivalled source of information on current performance in the global truck industry.
For ease of comparison and understanding, the financial statistics for each manufacturer are provided both in a common currency (euros) and the native currency, per year for the past 18 years. Applying each of the 30 performance ratios most commonly used by analysts, the report allows you to assess the strengths and weaknesses of each group thoroughly and across the groups.
Trucks are classified into many groups according to their purpose: mini trucks, light trucks, medium trucks, heavy trucks, extremely heavy trucks and transporters. Their names give a pretty clear idea about their suitable applications. To remain competitive on the market, truck manufacturers supply wide selections of trucks all around the world, meeting the toughest demands of any truck owner/operator. You may find a lot of lists titled best truck manufacturers in the world, but this one includes the largest ones. With no further ado, let’s get started with the largest truck manufacturer.
Daimler AG, or more popular as Daimler Chrysler, is the largest truck manufacturer in the world, based on the production of trucks per year. Daimler AG designs and produces trucks globally under the popular brands Mercedes Benz, Freightliner, Western Star, Fuso, Sterling Trucks, BharatBenz and Unimog. Over recent years, Daimler AG dominated the truck market with the release of Euro VI-compliant truck models even before the emission standards were in effect (2014).
Volkswagen Group is not only one of the leading carmakers in the world, but one of the world’s largest manufacturers of trucks. Following the success in vehicle productions, the German giant has made its presence in the global truck production. Currently, Volkswagen Group operates under the most reliable truck brands: MAN, Scania and Volkswagen Commercial Vehicles. Used truck sales from MAN or Scania is most certainly the best future-proof decision you can make for your company.
Over the past decade, Volvo Group has been one of the world’s top truck manufacturers along with Daimler AG. Volvo Group is a well-known Swedish manufacturer of trucks, buses and construction equipment. However, the manufacturer has earned most of the reputation thanks to their medium trucks for cargo hauling and local transportation. Also, the heavy-duty trucks for long-distance hauling have been widely used in the construction industry. Volvo Group operates under few well-known brands: Volvo Trucks, Renault Trucks, Mack, Eicher and UD Trucks. Getting a new Volvo truck is a costly investment. Luckily, there are second-hand models available at affordable prices yet in excellent condition. Buying used trucks for sale by the owner is a cost-saving solution, especially if you run a small business.
The most reputable Chinese automobile and truck manufacturer has grown to one of the largest truck manufacturers in the world. Dongfeng Motor is one of the three best Chinese automakers and has spread its popularity on a global level, with a mission to expand to the UK, Ireland and Paraguay. In addition to the Dongfeng Motor brand, the Chinese company is popular for its joint ventures with Kia, Honda, Nissan, Renault and Peugeot-Citroen.
Best Truck Brands
When it comes to the title of being the “best” brand in the truck industry, there will be an unending debate since all truck drivers and consumers have their own preferences. However, certain truck brands are globally popular since they can provide various trucks for different purposes and applications.
As for the consumer’s part, affordability, functionality, reliability, and durability are some of their criteria when choosing which brands deserve the investment. If you are to read and collect data from consumer reports, surveys, and forums, here are the best truck brands according to consumers worldwide:
Mercedes-Benz is popular not only for their topnotch trucks but also for their capability to supply all types of trucks for almost all sorts of applications. From medium-sized to large trucks to heavy-duty trucks, you can find a specific truck model in this brand.
Another good thing about Mercedes-Benz trucks is that it has a spacious and cozy environment inside the compartment and cabin area, which is ideal to truck drivers who are bound to long-distance hauling. On top of these, the interior and exterior of their trucks are indeed awesome and jaw-dropping.
Isuzu is famed to be one of the most popular truck brands during the year 2000 to 2007. They were recognised as the largest truck manufacturer in 2005, beating the Daimler, Volvo, and Volkswagen groups. Their light to medium-sized trucks is very apparent in local cargo distribution. In contrast, their heavy-duty trucks are commonly seen in national highways since they are popular for long-distance or interstate hauling. Their trucks are also affordable compared to other leading truck brands. With regards to their maneuverability and functionality, truck drivers have nothing to complain about.
Volvo trucks are also very common in the streets of the United States, Australia, Russia, Brazil, South Africa, India, and Europe. The range of their trucks suits the everyday business functions and applications such as for emergency purposes, construction works, waste management, fire emergencies, and of course, cargo hauling. Volvo trucks’ reliability makes them very popular to consumers worldwide; that’s why the company has put up production facilities to key areas around the globe to meet the demands. The Volvo Group also holds Nissan diesel trucks, Mack trucks, and Renault trucks.
These three truck brands are continuing their legacy in producing quality, yet affordable trucks and commercial vehicles worldwide. That’s why most consumers nowadays only trust the “tried and tested” whenever they look for certain types of trucks.
Daimler Company History
If you are a fan of Freightliner trucks, Mitsubishi Fuso, Sterling trucks, as well as Mercedes-Benz cars and trucks, you will be surely looking for the manufacturer behind these brands- the Daimler Aktiengesellschaft (AG). If you are intrigued by how this German multinational automotive company started, here is a glance at their conception and development:
1886-1920: The Predecessor Companies
Gottlieb Daimler and Carl Benz were considered as the pioneers of the automobile industry until the 19th century. They never met personally, but they were able to produce the world’s first automobiles simultaneously in 1886. As they are both determined to develop and market their works, they established their own companies- Gottlieb with his Daimler Motorengesellschaft while Carl Benz had Rheinische Gasmotorenfabrik,
From 1908 onwards, both of these companies had increasing orders of commercial and military vehicles which indicated their success in the industry.
1920-1933: The Global Economic Crisis and the Merge
The effects of World War I were very apparent in the German automobile industry, especially during 1914-1919. Added by the collapse of the currency, the growing number of competitors in the industry, plus the loss of international markets, all of these had negative effects on both Daimler and Benz’s companies. In 1926, these companies merged to form Daimler-Benz AG to heighten the quantity of production not only in the automobile category but to other industries as well. And in 1930, the Daimler-Benz company experienced another breakthrough in the truck industry by developing the Lo 2000.
1933-1945: The Nazi Era
In this period, Daimler-Benz manufactured certain armaments such as aircraft engines and military trucks. With this, the company has able to build another plant in Genshagen.
Because of the Potsdam Agreement where all German assets abroad will be confiscated to serve as compensation of reparations, the Daimler-Benz not only lost assets in the Soviet-occupied regions but also their entire affiliates, subsidies, and branches overseas.
1950-mid 1980s: Growth
After losing its international assets, the company in this period regains its position and glory as they quickly innovate and expand its automobile production on the global scale. In fact, they are the leading car, bus, and truck manufacturer in Europe in this era.
1984-2007: Corporate Realignment and Strategies
With the existence of other global competitors in the industry plus the sales opportunities for topnotch cars in the market, the company established Mercedes-Benz AG in 1989. The continuous environmental problems in this period also moulded the company in their automobile production. In 1998, the company merged with Chrysler Corporation to safeguard both of the parties’ competitiveness in the global market.
Until today, Daimler AG is considered to be the pioneer in manufacturing superior and technologically innovative automobile and other products.
Undoubtedly, Daimler is the top truck manufacturing company. Daimler is a truck producer that additionally makes trucks under the brands Mercedes-Benz, Western Star, Freightliner, Mitsubishi Fuso, and BharatBenz. Surely the top company with unrealistic annual sales, Daimler undoubtedly tops the list of top truck manufacturing companies.