Hanover, Germany - World truckmakers were optimistic about huge opportunities in emerging markets Thursday at the IAA truck fair in Hanover.
"The technological potential in this sector has not yet been fully tapped," said German Automobile Industry Federation (VDMA) President Matthias Wissmann in a speech opening the biennial event.
Emerging economies with rapid rates of growth have helped cheer truckmakers amid concern of recession in the West.
Expanding industry and commerce in Russia, South America and South Africa mean much larger numbers of trucks are needed to deliver goods.
That growth is also reflected in the growing number of Russian, Indian and Chinese truckbuilders with booths at the IAA fair.