The U.S. Class 8 market is dominated by Freightliner. The truck brand recorded year-to-date growth of about 0.3 percent and held a market share of around 37.9 percent in December 2022. This means that almost one in four Class 8 trucks in the United States is a Freightliner-badged vehicle. Daimler Truck is Freightliner’s parent company and sells trucks under its Freightliner and Western Star brands.  Truck demand indicative of economic trend
Class 8 heavy-duty truck sales expanded by some 15.5 percent in 2021 after the industry was impacted by the COVID-19 pandemic in 2020, resulting in a contraction in sales. In total, customers in the United States bought just under 221,900 heavy-duty trucks in 2021. The industry closed the year on a positive note and also recorded a growth in order intake towards the end of the year. The market recovery is propelled by U.S. trucking companies, three of which ranked as the largest trucking companies worldwide
 Heavyweights in the market  Class 8 trucks fall into the heavy-duty segment of the U.S. truck market. They are categorized by the U.S. Federal Highway Administration as vehicles with a gross vehicle weight rating in excess of 33,000 pounds. Many truck manufacturers also build trucks in smaller segments such as Classes 4-7.

The Global Heavy Duty Truck Market Sale Statistics Have Been Segmented by Tonnage Type (10 15 Tons and More Than 15 Tons), Class (Class 5, Class 6, Class 7, and Class 8), Fuel Type (Gasoline, Diesel, Electric, and Alternative Fuels), Application Type (Construction and Mining, Freight and Logistics, and Other Applications), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers Market Size and Forecast for the Heavy-Duty Truck Market in Value (USD Billion) for the Above-Mentioned Segments.

Germany's Mercedes was the leading producer of medium and heavy commercial vehicles in 2021, holding around 19 percent of the market. In 2022, Mercedes, DAF and Volvo gained the highest share of the market, each reporting 17 percent of the market value. By 2026, Mercedes is predicted to once again become the leading producer of commercial vehicles, once again maintaining 19 percent of the market.

As per Cognitive Market Research's latest published report, the Global Heavy Duty Truck market size was USD 209,987.8 million in 2022 and it is forecasted to reach USD 328678.9 million by 2030. Heavy Duty Truck Industry's Compound Annual Growth Rate will be 4.9% from 2023 to 2030. Factors Impacting on Heavy Duty Truck Market

An increase in demand for goods along with an increase in construction and development of infrastructure is a major factor driving the demand for the heavy-duty trucks market. Governments in both developed and developing countries around the world are making large investments in improving and updating their road network infrastructure, which depends on heavy trucks to transport the bulk of the world's largest goods. Furthermore, increasing urbanization in developing and developed economies coupled with rising consumer preference towards utilizing vehicles with innovative technology will create growth opportunities for the market.

Development in E-commerce and Logistics

What are the restraining factors for the global Heavy-Duty Truck Market?

However, a lack of technological expertise in developing and underdeveloped economies will pose a major challenge to the market growth rate. High costs involved with technological innovations and research and development proficiencies, poor infrastructural facilities in underdeveloped economies, and manufacturing challenges faced by original equipment manufacturers organizations will hamper the market growth rate. What is Heavy Duty Truck?

A heavy-duty truck is categorized as a vehicle that has or exceeds a Gross Vehicle Weight Rating (GVWR) of more than 26,001 pounds. It includes polished stainless steel for brilliant finishes, aluminum for lightweight and corrosion resistance, steel for strength and durability, and molded plastics for intricate shapes. Heavy-duty trucks are frequently utilized in the commercial sector, particularly on construction sites to transport bulky building supplies or carry massive loads. These vehicles are built with strong transmissions and powerful engines.

Explore the Heavy Trucks Market trends! Covers key players, growth rate 5.2% CAGR, market size $300.97 Billion, and forecasts to 2034. Get insights now!

[226+ Pages Report] The global heavy duty trucks market size is expected to grow from USD 250 billion in 2022 to USD 315.85 billion by 2030, at a CAGR of 7.6% from 2023-2030

According to Cognitive Market Research, the global Heavy Trucks market size will be USD 196554.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031. North America held the major market share for more than 40% of the global revenue with a market size of USD 78621.80 million in 2024 and will rise at the compound annual growth rate (CAGR) of 3.2% from the year 2024 to 2031. Europe accounted for a market share of over 30% of the global revenue with a market size of USD 58966.35 million. Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 45207.54 million in 2024 and will rise at the compound annual growth rate (CAGR) of 7.0% from 2024 to 2031. Latin America had a market share of more than 5% of the global revenue with a market size of USD 9827.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 3931.09 million in 2024 and will rise at the compound annual growth rate (CAGR) of 4.7% from 2024 to 2031. The electric category is the fastest growing segment of the Heavy Trucks industry Market Dynamics of Heavy Trucks Market Key Drivers for Heavy Trucks Market Rising Demand for Efficient Transportation in E-commerce and Logistics to Boost Market Growth The rapid growth of e-commerce and logistics industries has significantly increased demand for heavy trucks, as these vehicles are essential for efficient large-scale goods transportation. Online retail and same-day delivery services rely on robust logistics networks, creating a surge in heavy truck usage to handle high cargo volumes and streamline distribution channels. This demand encourages companies to expand their fleets and invest in advanced heavy trucks that optimize fuel efficiency and cargo capacity, reducing delivery times and operational costs. Moreover, the globalization of supply chains has heightened cross-border transport needs, with heavy trucks playing a key role in long-haul and intermodal transportation. As the logistics and e-commerce sectors continue to grow, the need for reliable, high-performance heavy trucks will drive market growth, with manufacturers focusing on innovation to meet the demands of a fast-paced, evolving logistics landscape. For instance, the three leading commercial vehicle manufacturers, Traton Group, Daimler Truck, and Volvo Group, signed a binding agreement to create a joint venture (JV) to install and operate a high-performance public charging network for battery electric, heavy-duty long-haul trucks, and coaches across Europe. Stringent Emission Regulations and Shift Towards Green Transportation to Drive Market Growth Environmental concerns and government regulations targeting emissions have driven heavy truck manufacturers to innovate, focusing on eco-friendly solutions such as electric, hybrid, and hydrogen-powered trucks. As regulatory bodies in major economies impose stringent emissions standards, companies are investing in research and development to produce vehicles that meet these requirements without sacrificing performance. The shift towards green transportation is further accelerated by incentives for adopting low-emission vehicles, promoting fleet owners to replace older, high-emission trucks with newer, sustainable models. This trend not only aids companies in reducing their carbon footprint but also enhances fuel efficiency and lowers long-term operating costs. Restraint Factor for the Heavy Trucks Market Increasing Regulatory Pressure on Emissions and Environmental Compliance Will Limit Market Growth Governments worldwide, particularly in developed regions, are enforcing stricter emission standards to reduce greenhouse gases and particulate pollution. Compliance with these regulations requires significant investments in advanced technologies, like selective catalytic reduction (SCR) and exhaust gas recirculation (EGR) systems, which increase production costs. These expenses are often passed on to customers, raising the overall cost of heavy trucks. Additionally, these regulations push manufacturers to explore alternative fuel options, which can be cost-prohibitive and challenging to implement on a large scale. Such regulatory pressures may limit market growth, especially among smaller manufacturers and fleet operators with limited budgets for new, compliant models. I...

The heavy-duty truck market is projected to climb to 430 billion U.S. dollars, up from around 360 billion U.S. dollars in 2019. This represents a compound annual growth rate of around 2.6 percent during the seven year forecast period.

The global heavy duty trucks market is set to rise from USD 218.64 billion in 2024 to USD 587.5 billion by 2037, reflecting a CAGR of more than 7.9% during the forecast timeline, from 2025 to 2037. Key industry players include Oshkosh Corporation, Mack Trucks, Navistar, Kenworth, among others.

The global truck market, valued at XX million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 7.40% from 2025 to 2033. This expansion is fueled by several key drivers. The burgeoning e-commerce sector and the resulting surge in freight transportation demand significantly contribute to market growth. Furthermore, infrastructure development projects globally, particularly in emerging economies, necessitate a larger fleet of heavy-duty trucks for construction and mining applications. Technological advancements, such as the integration of advanced driver-assistance systems (ADAS) and the increasing adoption of electric and alternative fuel vehicles, are further shaping the market landscape. Government regulations promoting fuel efficiency and emission reduction are also influencing the shift towards cleaner and more sustainable trucking solutions. However, the market faces challenges such as fluctuating fuel prices, supply chain disruptions, and the high initial investment associated with electric and alternative fuel trucks. Segmentation analysis reveals a diverse market. Heavy-duty trucks (15+ tons) command a larger market share compared to lighter-duty vehicles, driven by the growing need for efficient long-haul transportation. Class 8 trucks dominate the class segment due to their capacity and suitability for heavy-duty applications. Diesel remains the dominant fuel type, although the market share of electric and alternative fuel trucks is gradually increasing, reflecting growing environmental concerns and technological advancements. The construction and mining sector constitutes a major application segment, followed by freight and logistics. Geographically, North America and Asia-Pacific are expected to be key regional markets, driven by robust economic growth and substantial infrastructure investments in these regions. Leading players such as China National Heavy Duty Truck Group, FAW Group Corporation, and PACCAR Inc. are vying for market dominance through innovation, strategic partnerships, and expansion initiatives. The forecast period anticipates a continued rise in market value, driven by the convergence of these factors. Comprehensive Truck Market Report (2019-2033) This in-depth report provides a comprehensive analysis of the global truck market, encompassing historical data (2019-2024), current estimates (2025), and future forecasts (2025-2033). The study meticulously examines market dynamics, including key trends, growth drivers, challenges, and opportunities, across various segments. This report is crucial for businesses, investors, and researchers seeking actionable insights into this multi-billion dollar industry. Discover the key players shaping the future of trucking and gain a competitive advantage with our detailed analysis. Recent developments include: November, 2022: The Volvo Group, Mack Trucks' parent company, and Pilot Company have agreed to establish public charging infrastructure for medium- and heavy-duty customers in North America. Pilot Company will install high-performance charging infrastructure at select Pilot and Flying J travel centers across the United States, while The Volvo Group will provide expertise in determining which locations should be prioritized for charging infrastructure based on current and anticipated BEV truck adoption, customer charging requirements, and funding availability from the federal and state governments., September, 2022: At its plant in Sete Lagoas, Brazil, Iveco announced the commencement of the production of its Hi-Way heavy truck with a natural gas (CNG) powertrain. The truck is powered by a 460 horsepower FPT Cursor 13 engine with six cylinders. Meritor supplied the Hi-Way's rear axle, and the ZF Traxon gearbox has 12 speeds., March, 2022 : The three leading commercial vehicle manufacturers, Traton Group, Daimler Truck, and Volvo Group, signed a binding agreement to create a joint venture (JV) to install and operate a high-performance public charging network for battery electric, heavy-duty long-haul trucks, and coaches across Europe.. Key drivers for this market are: Increasing Demand For Electric Vehicles is Anticipated to Boost the Market. Potential restraints include: High Cost Associated with Electric Vehicles is Anticipated to Restrain the Growth of the Market. Notable trends are: Hybrid and Electric Heavy-duty Trucks to Have Positive Impact on the Market.

The U.S. dominates in global imports on the heavy duty truck market, accounting for a 17% share (based on USD). It was followed by Canada (7%), Germany (6%) and France (6%). In 2015, U.S. heavy duty truck imports totaled 16,262 million USD, which was 950 million USD (+6%) more than the year before.

in the fiscal year 2023, the market share for medium and heavy commercial vehicle trucks across India was dominated by Tata Motors at about 48 percent. Close to 80 percent of the market share was dominated by the two leading market players.

The global heavy-duty truck market, valued at approximately $XX million in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 5.55% from 2025 to 2033. This expansion is fueled by several key factors. The burgeoning e-commerce sector necessitates efficient and reliable long-haul transportation, boosting demand for heavy-duty trucks. Furthermore, ongoing infrastructure development projects globally, particularly in emerging economies, create significant opportunities for increased truck utilization. Stringent emission regulations are pushing manufacturers towards the adoption of cleaner technologies, like electric and hybrid trucks, stimulating innovation and market expansion within specific segments. However, the market faces challenges such as fluctuating fuel prices, supply chain disruptions impacting component availability, and the high initial investment costs associated with adopting advanced technologies. The market is segmented by type (e.g., Class 8 trucks, others) and application (e.g., construction, long-haul transportation). Leading players like AB Volvo, BYD, Daimler, and Tesla are employing competitive strategies focusing on technological advancements, fuel efficiency improvements, and enhancing consumer engagement through innovative telematics and service offerings. Regional variations exist, with North America and Europe currently holding significant market shares, while the Asia-Pacific region shows promising growth potential due to rapid industrialization and economic expansion. The competitive landscape is characterized by intense rivalry among established players and emerging electric vehicle manufacturers. Strategic alliances, mergers, and acquisitions are anticipated to reshape the market structure in the coming years. The focus on sustainability is increasingly impacting purchasing decisions, with buyers favoring fuel-efficient and environmentally friendly options. Consequently, manufacturers are investing heavily in research and development to create technologically advanced, cost-effective, and sustainable heavy-duty trucks to meet evolving customer needs and regulatory requirements. The market's future success hinges on the successful integration of new technologies, adept adaptation to evolving regulations, and efficient management of supply chain complexities. Understanding these dynamics is crucial for industry stakeholders to navigate this rapidly evolving landscape and capitalize on emerging opportunities.

In 2021, the U.S. truck market decreased by -X% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption recorded a slight downturn. Truck consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

The size and share of the market is categorized based on Application (Real Estate Development, Infrastructre Construction, Freight Market, Others) and Product (Complete Vehicle, Incomplete Vehicle, Semitrailer Tractor) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The Heavy Duty Trucks Market is projected to grow at 4.7% CAGR, reaching $291.39 Billion by 2029. Where is the industry heading next? Get the sample report now!

Heavy-Duty Truck Market is expected to grow at a CAGR of 3.8% during the forecast period 2024-2031

The Global Medium and Heavy Duty Commercial Vehicle (MCHV) Market has been segmented by Tonnage (3.5 - 7.5 Tons, 7.5 - 16 Tons, and above 16 Tons), Propulsion Type (IC Engine, Plug-In Hybrid Electric, Battery Electric, and Alternative Fuel Powered), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and forecasts for Medium and Heavy-Duty Commercial Vehicles in terms of value (USD billion) for all the above segments.

By 2035, almost half of the heavy-duty trucks produced in Western Europe (including Turkey) are expected to be zero-emission trucks. Purely battery electric and hydrogen-powered fuel cell electric trucks are projected to make up nearly 50 percent of the market by 2035, compared to less than a tenth in 2030. By contrast, the production volume of internal combustion engine trucks is anticipated to be almost halved. The overall production of heavy-duty trucks in the region is tipped to be around 480,000 units in 2035.

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Europe Heavy-Duty Trucks Market Size 2025-2029

The heavy-duty trucks market in Europe size is forecast to increase by USD 19.44 billion billion at a CAGR of 8.5% between 2024 and 2029.

The market specifically for heavy-duty trucks, is experiencing significant growth in various regions, with a notable increase in demand in Eastern Europe. A key trend driving this growth is the shift towards alternative fuels, such as hydrogen and electric trucks, to reduce emissions and promote sustainability. However, the high cost of heavy-duty trucks remains a challenge for many buyers, leading to the rise of truck rental services and fleet management solutions. In the US and North America, the construction, logistics, and e-commerce industries are major consumers of heavy-duty trucks. These industries are increasingly adopting smart city technologies, such as LED lighting and stainless steel bodies, to enhance efficiency and durability.


Additionally, the demand for specialized trucks, such as dump trucks and SPAs, continues to grow in the construction sector. Overall, the heavy-duty truck market is expected to witness continued growth, driven by these trends and challenges, and the adoption of advanced technologies to improve fuel efficiency and reduce emissions.

What will be the Size of the market During the Forecast Period?

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The heavy-duty trucks market encompasses the production and sale of commercial vehicles designed for long-distance transportation and extreme situations. These vehicles, including heavy commercial vehicles and trailers, exhibit strong construction and powerful engines, enabling them to carry significant weight and traverse various terrains. The market caters to diverse industries such as long-distance freight transportation, mining operations, and industrial activities. Sustainability goals are increasingly influencing market trends, with a growing emphasis on alternative fuel vehicles and fleet modernization. Autonomous heavy-duty trucks are gaining traction as a potential solution for increased efficiency and reduced operational costs. Regulatory pressure to reduce emissions is another significant factor driving market evolution. The market is a dynamic and evolving sector, continually adapting to meet the demands of various industries and societal expectations.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  3.5 to 16 tonnes
  Over 16 tonnes


Fuel Type

  Diesel powered
  Gasoline powered
  Electric powered
  Solar powered


Propulsion

  Internal combustion engine (ICE)
  Hybrid and electric vehicles (HEV and BEV)


Geography

  Europe

    France
    Germany
    Italy
    UK

By Type Insights

The 3.5 to 16 tonnes segment is estimated to witness significant growth during the forecast period.

Heavy-duty trucks, with weight capacities ranging from 3.5 to 16 tonnes, play a pivotal role in various industries and applications due to their adaptability. These trucks are ideal for local and regional transport tasks, including food distribution, parcel delivery, and construction projects. Their smaller size and maneuverability enable efficient navigation in urban and suburban environments. In the construction industry, HD trucks are utilized for transporting materials within a city or region. The Asia Pacific region, driven by emerging economies and smart city initiatives, presents significant growth opportunities for commercial vehicles, including HD trucks. Additionally, the e-commerce industry's wave in demand for last-mile delivery solutions further bolsters the market for HD trucks.

In the mining sector, dump trucks and mining vehicles are essential for resource extraction and industrial activities. Advanced driver-assistance systems, load-carrying capacities, and safety features are crucial considerations for HD trucks. The adoption of green technologies, such as battery-powered trucks, hydrogen trucks, and alternative fuel trucks, is on the rise due to environmental regulations and sustainability initiatives. Fleet management systems, real-time tracking, and tracing solutions are also increasingly important for optimizing operations and reducing costs. The global market for heavy-duty trucks is expected to grow significantly due to economic expansion, freight demand, and infrastructure projects in industrial zones.

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Market Dynamics

Our Europe Heavy-Duty Trucks Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine thei