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Heavy-Duty Trucks Market by Class (Class 7, Class 8), by Fuel (Diesel, Natural Gas, Hybrid Electric, Gasoline), by Horsepower (Below 300 HP, 300 - 400 HP, 400 - 500HP, Above 500HP), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Russia, Belgium, Sweden), by Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Vietnam), by Latin America (Brazil, Mexico, Argentina), by MEA (Saudi Arabia, UAE, South Africa, Iran, Turkey) Forecast 2025-2033
The size of the Heavy-Duty Trucks Market was valued at USD 250 billion in 2023 and is projected to reach USD 351.78 billion by 2032, with an expected CAGR of 5% during the forecast period.The Heavy-Duty Trucks market focuses on large vehicles designed to carry substantial loads across long distances, typically classified with a gross vehicle weight rating (GVWR) over 33,000 pounds. These trucks are crucial for sectors like freight transportation, construction, mining, and logistics, serving applications such as long-haul trucking, construction site logistics, and the transportation of bulk materials and machinery. The market is expanding due to factors such as the increasing demand for cost-effective and efficient freight transport, spurred by the growth of e-commerce and international trade; the rise in infrastructure and construction projects that require heavy-duty vehicles; innovations in fuel efficiency and emissions reduction technologies, including electric and hybrid trucks; and government policies aimed at reducing the carbon footprint of the transportation industry. These drivers are propelling the growth of the heavy-duty truck market, making it a critical component of the evolving logistics and transportation sectors.
The market is moderately concentrated, with key players including Daimler Group, Ford Motor Company, Navistar, Oshkosh Corporation, Paccar, Volkswagen, and Volvo. Concentration areas include:
Innovation is characterized by:
Dominating Region: North America, driven by strong infrastructure development, construction activity, and demand for long-haul transportation
Dominating Segment: Class 8 heavy-duty trucks, particularly Day Cab and Sleeper configurations, due to their versatility and suitability for long-distance hauling
The report provides comprehensive insights into the heavy-duty trucks market, including:
Market Size and Outlook: The global heavy-duty trucks market is projected to reach $450 billion by 2030, expanding at a CAGR of 5.7% from its estimated value of $320 billion in 2023. The growth is driven by burgeoning infrastructure projects, increasing urbanization, and rising demand for long-haul transportation.
Key Players and Market Share: Daimler Trucks remains the market leader, followed by Volvo, Traton (formerly Volkswagen Truck & Bus), and PACCAR. These companies account for a significant share of global heavy-duty truck sales. Emerging players from China, such as FAW Jiefang and Dongfeng Motor, are also gaining momentum.
North America:
Europe:
Asia Pacific:
Class:
Fuel:
Horsepower:
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 5% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
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