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Furthermore, in addition to rising demand, efforts to integrate technologies and electrification should keep driving the industry’s growth. The global commercial vehicles market size is expected to grow at 5.2% CAGR to $1.82 trillion by 2028.
With strong fundamentals and global market reach, we think Volvo AB (OTC:VLVLY) and Hino Motors, Ltd. (HINOY) are well-positioned to capitalize on the industry tailwinds. Conversely, Proterra Inc. (PTRA) and Workhorse Group Inc. (WKHS) might fail to benefit from the growing demand due to intense competition and their weak fundamentals.
