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

The U.S. Class 8 market is dominated by Freightliner. The truck brand recorded year-to-date decline of about *** percent but held a market share of around ** percent in 2024. 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 **** 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 ******* 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 Connected Truck Market report segments the industry into By Vehicle Type (Light Commercial Vehicles, Heavy Commercial Vehicles), By Range (Dedicated Short-range Communication (DSRC), Long Range (Telematics Control Unit)), By Communication Type (Vehicle-to-Vehicle (V2V), Vehicle-to-Cloud (V2C), Vehicle-to-Infrastructure (V2I)), and By Geography (North America, Europe, Asia-Pacific, Rest of the World).

The Heavy Duty Trucks Market Report is Segmented by Tonnage Type (10 To 15 T and More Than 15 T), Class (Class 7 and Class 8), Propulsion Type (Diesel, Battery-Electric, and More), Application (Construction and Mining, and More), Truck Body Type (Tractor-Trailer, and More), Sales Channel (OEM, and More), and Geography (North America, and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

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

According to Cognitive Market Research, the global Heavy Trucks market size was 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. Impac...

United States Pickup Truck market was valued at USD 22.48 Billion in 2024 and is expected to reach USD 34.35 Billion by 2030 with a CAGR of 7.32%.

The booming medium-duty pickup truck market is projected to reach significant value by 2033, driven by construction, logistics, and agriculture demands. Explore market trends, key players (Toyota, Ford, etc.), and regional growth insights in this comprehensive analysis.

The United States Heavy-Duty Truck Market Report is Segmented by Gross Vehicle Weight Rating (Class 7, Class 8a, and More), Propulsion (Internal-Combustion Engine (ICE) and Electric), Axle Type (4x2, 6x2, 6x4, and More), Truck Type (Rigid, Articulated, and Others), and Application (Construction and Mining, Freight and Logistics, and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

The Global Truck Market was valued at USD 853.01 Billion in 2024 and is expected to reach USD 1159.54 Billion by 2030 with a CAGR of 5.25% during the forecast period.

U.S. trucks industry generated USD 800.8 billion revenue in 2024 and is projected to surpass USD 1091.6 billion by 2032, progressing at a CAGR of 4.1%.

Medium-duty trucks are typically Class 5-8 trucks with a gross vehicle weight (GVW) of 10,000 to 33,000 pounds. They are designed to haul heavier loads than light-duty trucks but are smaller and more maneuverable than heavy-duty trucks. Medium-duty trucks are used in a wide range of applications, including construction, mining, freight transportation, and garbage collection. Recent developments include: July 2023: Daimler Truck and Torc Robotics announced a partnership to develop autonomous medium-duty trucks. Daimler Truck will provide the truck platform, while Torc will provide the autonomous driving system. The partnership is expected to result in the first commercial deployment of autonomous medium-duty trucks in North America., May 2023: Hino announced that it had formed a joint venture with Isuzu to develop electric medium-duty trucks. The joint venture is expected to lead to the development of new electric truck models that are sold by both companies., April 2023: Mitsubishi Fuso Truck and Bus Corporation acquired the 10% stake in Nikola Corporation, a startup that develops electric vehicles. The investment is expected to help Mitsubishi Fuso develop electric medium-duty trucks., Volvo Group has launched the new line of its electric trucks, with more sophisticated battery technology to achieve longer distances and better performance., Ford Motor Company has recently announced an all-new medium-duty truck and improved driver assistance technology aimed at enhancing fleet management connectivity., Isuzu Motors announced last week that it had bought UD Trucks from Volvo Group, as part of its alliance with Isuzu Motors.. Key drivers for this market are: The increasing demand for medium-duty trucks in various industries

The rising cost of fuel. Potential restraints include: The economic slowdown in some parts of the world

The rising cost of manufacturing. Notable trends are: Growing demand for urban logistics and last-mile delivery services is driving the market growth.

In 2024, after two years of growth, there was significant decline in the Norwegian truck market, when its value decreased by -16.4% to $687M. In general, the total consumption indicated a slight expansion from 2012 to 2024: its value increased at an average annual rate of +1.2% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +37.0% against 2021 indices.

The global pickup trucks market size was USD 219.94 billion in 2024 & is projected to grow from USD 231.81 billion in 2025 to USD 353.07 billion by 2033.
Report Scope:

Market Research Intellect presents the Class 8 Truck Market Report-estimated at USD US25 billion in 2024 and predicted to grow to USD US35 billion by 2033, with a CAGR of 4.5% over the forecast period. Gain clarity on regional performance, future innovations, and major players worldwide.

In 2025, the global truck market was valued at USD 7.92 trillion and is likely to reach USD 24.78 trillion by 2035, registering a CAGR of 11.8%.

The global heavy duty trucks market size was more than USD 233.28 billion in 2025 and is anticipated to grow at a CAGR of more than 4.6%, reaching USD 365.76 billion revenue by 2035, attributed to lowering the risks of accidents and increasing safety.

The global truck market is booming, projected to reach [estimated 2033 market size in millions] by 2033, with a CAGR of 7.40%. This comprehensive analysis explores market drivers, trends, restraints, and segmentation across tonnage, class, fuel type, and application, featuring key players like PACCAR and Daimler. Discover regional insights and growth forecasts for North America, Europe, and Asia-Pacific. 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.

Heavy Duty (HD) Truck Market size was valued at USD 148.07 Billion in 2024 and is projected to reach USD 203.40 Billion by 2032, growing at a CAGR of 4.13% from 2026 to 2032.The market for heavy-duty trucks has expanded significantly in recent years, mostly due to the rapid growth of infrastructure and rising demand from end users in the global mining, construction, and other industries. This increase in demand is not just a fad; rather, it is a reflection of more significant social and economic changes that are transforming the world. A major factor driving the rise in demand for heavy-duty vehicles worldwide is the drive to improve infrastructure. Throughout the world, developed and emerging economies alike are making significant investments in modernizing and growing their infrastructure. Moreover, the heavy-duty truck market is being driven by two major factors: the logistics sector's transformation and the e-commerce industry's rapid growth. The global pandemic has expedited this trend, which has raised demand for conventional trucking services while also encouraging partnerships, innovation, and wise acquisitions in the sector.

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.