5 Fastest Growing Industries in the World

2. Heavy Duty Truck Manufacturing

Revenue Growth 2019-2020: 29.0%

The Heavy-Duty Truck Manufacturing industry has experienced a steady increase in the years 2015-2020. Heavy duty trucks are used for a variety of activities, such as cargo transportation, logistics operations, construction, mining, etc. The high demand for heavy-duty trucks can be attributed to the growth in the construction, freight, and logistics sectors respectively, and rapid developments in road infrastructure all over the world. Globalization and increase in ease of travel has caused the construction sectors to boom, with rural areas all over the world becoming urbanized. This $400 billion industry is projected to increase even more in the coming years.

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