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.

The Report Covers Connected Trucking Technology Trends. It is Segmented by Vehicle Type (Light Commercial Vehicles and Heavy Commercial Vehicles), Range (Dedicated Short-Range Communication (ADAS) and Long Range (Telematics Control Unit)), Communication Type (Vehicle-To-Vehicle (V2V), Vehicle-To-Cloud (V2C), and Vehicle-To-Infrastructure (V2I)), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Market Size and Forecasts are Provided in Terms of Value (USD) and Volume (Units) for all the Above Segments.

The Electric Truck Market is segmented by Vehicle Configuration (Trucks), by Fuel Category (BEV, FCEV, HEV, PHEV) and by Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

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...

JAC Motors, a Chinese state-owned vehicle manufacturer, was the bestselling truck brand in Uruguay in 2021, with a share of 23.18 percent of unit sales that year. Volkswagen - a German brand - followed in close second, with a share of 22.29 percent.

After three years of growth, the Romanian truck market decreased by -99.7% to $3.2M in 2024. In general, consumption continues to indicate a dramatic shrinkage. Over the period under review, the market attained the peak level at $985M in 2023, and then reduced dramatically in the following year.

In 2023, DAF held a market share of 15.6 percent in the heavy truck sector, a slight drop compared to its 2022 record of 17.3 percent. By contrast, DAF accounted for 9.1 percent of sales in the light truck market. Comparatively, Toyota, Volkswagen, and General Motors were the

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.

The global pallet truck market is projected to witness steady growth between 2025 and 2035 due to the continued growth of e-commerce over the coming years, increasing warehousing activities, and growing adoption of material handling solutions. The expanding demand for efficient and safe cargo handling in warehouses and distribution centers is driving the adoption of pallet trucks due to their dependability, affordability, and versatility.

Metric	Value
Market Size in 2025	USD 47.4 Billion
Projected Market Size in 2035	USD 95.1 Billion
CAGR (2025 to 2035)	7.2%

Country	CAGR (2025 to 2035)
United States	7.5%

Country	CAGR (2025 to 2035)
United Kingdom	6.9%

Country	CAGR (2025 to 2035)
European Union	7.1%

Country	CAGR (2025 to 2035)
Japan	7.0%

Country	CAGR (2025 to 2035)
South Korea	7.3%

Company Name	Estimated Market Share (%)
Toyota Material Handling	12-16%
KION Group (Linde, STILL)	10-14%
Jungheinrich AG	8-12%
Hyster-Yale Materials Handling	6-10%
Crown Equipment Corporation	4-8%
Other Companies (combined)	45-55%

The Kazakh truck market expanded significantly to $603M in 2024, with an increase of 6.5% against the previous year. Overall, consumption, however, recorded a measured expansion. Truck consumption peaked in 2024 and is expected to retain growth in years to come.

The size and share of the market is categorized based on Products (Long-Haul Trucks, Heavy-Duty Trucks, Tractor-Trailers, Logging Trucks, Tanker Trucks) and Application (Freight Transport, Construction, Waste Management, Utility Services, Public Transportation) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The U.S. truck market totaled $330.6B in 2024, surging by 2.8% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2024: its value increased at an average annual rate of +5.6% 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 +86.4% against 2016 indices.

The North America Electric Truck Market is segmented by Vehicle Configuration (Trucks), by Fuel Category (BEV, FCEV, HEV, PHEV) and by Country (Canada, Mexico, US). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

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.

According to Cognitive Market Research, the global Used Truck market size is USD 40258.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 9.00% from 2024 to 2031.

North America is the major market, accounting for more than 40% of global revenue. With a market size of USD 16103.28 million in 2024, it will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Europe accounts for a share of over 30% of the global market size of USD 12077.46 million.
Asia Pacific holds the market of around 23% of the global revenue with a market size of USD 9259.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
Latin America holds the market of more than 5% of the global revenue with a market size of USD 2012.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031. 
Middle East and Africa holds the market of around 2% of the global revenue with a market size of USD 805.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The light trucks holds the highest Used Truck market revenue share in 2024.

Market Dynamics of Used Truck Market

Key Drivers for Used Truck Market

Rising Number of Small and Medium-Sized Businesses to Increase the Demand Globally

The global used truck market is poised for growth, driven primarily by the rising number of small and medium-sized businesses (SMBs) worldwide. As SMBs expand their operations, there is an increasing need for cost-effective transportation solutions, leading to a surge in demand for used trucks. These businesses often seek reliable and affordable vehicles to support their logistics and delivery needs, making the used truck market an attractive option. Moreover, as SMBs typically operate on tighter budgets compared to larger enterprises, purchasing used trucks offers a more economical alternative without compromising on quality or performance. Additionally, the versatility of used trucks makes them suitable for a wide range of industries, including construction, agriculture, retail, and logistics. Overall, the growing presence of SMBs globally is expected to fuel the demand for used trucks, driving market growth in the foreseeable future.

Increasing Demand for Electric & Hybrid Heavy-Duty Trucks to Propel Market Growth

The global used truck market is witnessing a notable shift with increasing demand for electric and hybrid heavy-duty trucks. This trend is primarily driven by the growing awareness of environmental concerns and the push for sustainable transportation solutions. Electric and hybrid heavy-duty trucks offer reduced emissions and operational costs, making them attractive options for fleet operators and businesses aiming for greener practices. Moreover, advancements in battery technology are improving the performance and range of electric trucks, further enhancing their appeal. As governments worldwide implement stricter regulations on emissions and offer incentives for adopting cleaner technologies, the demand for electric and hybrid trucks is expected to escalate. Consequently, the used truck market is poised for growth as more pre-owned electric and hybrid heavy-duty trucks become available, providing cost-effective alternatives for businesses looking to upgrade their fleets while aligning with sustainability goals.

Restraint Factor for the Used Truck Market

Economic Downturns and Low Economic Growth to Limit the Sales

During economic downturns and periods of low economic growth, the global used truck market faces significant challenges. Reduced consumer and business spending constraints budgets, leading to a decreased demand for used trucks across various sectors such as transportation, construction, and logistics. Uncertainty about future economic conditions often prompts businesses to postpone or scale back investments in vehicle fleets, impacting sales further. Moreover, during economic slowdowns, the availability of financing options may become more restricted, making it difficult for buyers to afford used trucks. Consequently, dealers and sellers may struggle to move inventory, leading to pricing pressures and lower profit margins. To navigate these challenges, stakeholders in the used truck market must adopt strategies such as offering flexible financing solutions, diversifying their product offerings, and focusing on c...

Global electric truck market Size valued at USD 35.16 billion in 2023 and is expected to grow at a CAGR of 24.7% during the forecast period by 2032.

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.