Global sales of mega trucks are expected to increase at a compounded annual average rate of 10.6 percent in 2016 to 2025, and account for 5.7 percent of the total heavy-duty truck sales from 3.4 percent, according to a research by market consultancy firm Frost & Sullivan.
“Mega trucks are set for growth. Along with easing traffic congestion, lowering emissions, cost per ton, and growing freight demand, mega trucks can improve fleet operational efficiency and enhance capacity,” Frost & Sullivan said in a statement released late Thursday.
“However, significant obstacles lay ahead with serious questions around safety and the impact on infrastructure and the environment,” it added.
According to the study, the proliferation of mega trucks would have a negative impact on truck sales.
“A proliferation of mega trucks, where on average two mega trucks would replace three normal-sized trucks, would have a negative impact on the sales of trucks, thereby affecting OEM revenues,” Frost & Sullivan Mobility Research Analyst Marshall Martin said.
OEM refers to the original equipment manufacturers.
“These companies should look toward creating alternate sources of revenue through investing in or acquiring companies present in the safety, lightweighting, telematics, and mobile-based freight aggregation fields,” according to Martin.
Digital transformation and autonomous trucking will play an important role in expediting the adoption of mega trucks through better connectivity and safety features, Martin noted.
However, mega trucks are expected to incorporate more value features, especially in developing markets, he added.