Since the streamlining towards commercial vehicles was initiated more than ten years ago, the Volvo Group has grown into one of the world's largest manufacturers of heavy-duty trucks, buses and construction equipment and is today also a leading manufacturer of heavy-duty diesel engines, marine and industrial engines as well as engine components for the aerospace industry.
During this time, a number of acquisitions have been made, which have brought economies of scale and increased geographical reach.
Volvo Group has during this time also successfully established itself outside its historical markets of Europe and North America and gained a strong foothold in the growing markets of Eastern Europe, South America and Asia. During 2011, the markets outside of Western Europe and North America accounted for 49% of the Industrial Operations' total sales, compared to 17% in 2000.
On the following pages there is more information about the development on important markets and on some of the Volvo Group's investments and successes on them.