Heavy Duty Truck Market

Heavy Duty Truck Market Study by Diesel, Natural Gas, Hybrid, Electric, and Gasoline for Logistics, Construction, Agriculture, Defence, and Mining from 2024 to 2034

Analysis of Heavy Duty Truck Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Heavy Duty Truck Market Outlook (2024 to 2034)

The global heavy duty truck market is evaluated at US$ 194.82 billion in 2024. According to projections by Fact.MR in its latest market study, worldwide sales of heavy-duty trucks are forecasted to increase at a CAGR of 4.6% and reach US$ 305.46 billion by 2034-end.

Ever-expanding volume of domestic and foreign trade in key business domains is augmenting the need for efficient transporting facilities. Increasing industrial activities and growing demand from end-use industries for carrying out logistics activities are increasing the adoption of heavy duty trucks, including forklifts, tractors, and commercial trailers.

An upsurge in the demand for heavy commercial vehicles across all major sectors, such as agriculture, mining, construction, and logistics, is driving global heavy duty truck market growth. Rise in international and domestic trading activities across the world is increasing the use of heavy-duty trucks for product transportation purposes.

Government authorities across the world are imposing stringent regulations that aim to reduce harmful gas emissions. As such, manufacturers are increasing the production of electric- and hybrid-powered heavy duty trucks. Heavy duty truck manufacturers are also focusing on lessening the high costs associated with heavy duty trucks by shifting to remanufacturing techniques and use of cost-effective material.

  • The North American heavy duty truck market size is estimated at US$ 50.26 billion in 2024.
  • East Asia is projected to account for 33.7% of the global heavy duty truck market share by 2034.
Report Attribute Detail
Heavy Duty Truck Market Size (2024E) US$ 194.82 Billion
Forecasted Market Value (2034F) US$ 305.46 Billion
Global Market Growth Rate (2024 to 2034) 4.6% CAGR
South Korea Market Value (2034F) US$ 13.58 Billion
Dump Truck Demand Growth Rate (2024 to 2034) 4.8% CAGR
Key Companies Profiled Daimler; Fiat Chrysler Automobiles; Ford Motor Company; Freightliner; Nissan; Oshkosh Corporation; Dongfeng; Eicher Motors Limited; General Motors; Kenworth; Tata Motors; Toyota; Paccar; Peterbilt; Scania; Navistar; Volvo.

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Why are Heavy Duty Trucks So Important in Supply Chains?

“High Use of Trucks for Construction and Logistic Activities”

Ever-widening prospects of the automotive industry in emerging economies, owing to the availability of essential resources, along with favorable FDI policies, are highly anticipated to boost the production of heavy duty trucks in these regions. Extension of road networks along with increasing international sourcing of heavy duty truck components are set to positively influence their demand growth. Heavy duty truck manufacturers are looking to increase their profit margins by diversifying their business operations.

Smart city initiatives and growing need for infrastructure development are driving the use of tractors and dump trucks. Several countries in the Asia Pacific region are seeing increasing investments in smart city projects by their governments, which is creating profitable opportunities for heavy duty truck suppliers. In North America and Europe, many countries need infrastructure development, which is set to increase the use of heavy duty trucks for various purposes.

“e-Commerce Boom Increasing Application of Freight Trucks for Logistic Purposes”

The global heavy duty truck industry is currently witnessing a complete change in manufacturing concept. Autonomous trucks, electric trucks, and driverless trucks are set to have a huge influence on the revenue growth of manufacturers. Rapidly evolving logistic sector is driving the use of trucks such as transportation trucks, refrigerated trucks, and freight trucks.

Boom of the e-Commerce industry is directly driving the need for heavy duty trucks such as semi-trailers, flatbeds, dry vans, reefers, and box trucks. Furthermore, globalization, coupled with the growing need for efficient supply chains to transport goods across the world is further increasing the demand for heavy duty trucks.

“Introduction of Automated, Electric, and Hybrid Trucks”

Growing preference for hybrid and electric engines is expected to drive the demand for advanced heavy duty trucks over the forecast period. Manufacturers of heavy duty trucks are investing huge amounts in the production of battery-powered trucks due to evolving customer demands.

Companies are aiming to offer highly efficient heavy duty trucks that are low in cost, highly effective, eco-friendly, and can provide maximum mileage. Thus, rising investments in heavy duty trucks are expected to contribute significantly to the overall market growth during the forecast period.

Introduction of automated trucks is one of the leading heavy duty truck market trends to watch out for. Automated trucks are set to be highly effective for transportation and logistics purposes. Automated trucks with smart sensors and algorithms are contributing to error-free driving on the road. With no to less human help required, automated trucks are set to exhibit high demand in the coming ten years.

Which Aspects Should Heavy Duty Truck Manufacturers Should Focus On?

“High Cost of Heavy Duty Trucks and Inadequate Presence of Charging Stations”

Even though the market for heavy duty trucks is advancing, some aspects may hamper their sales growth. Electric trucks or battery-powered trucks are expensive compared to traditional trucks. This can be attributed to their advanced battery and fast charging technologies. Such advancements increase the overall cost of trucks, leading to low adoption by budget-constrained users.

Another factor hampering heavy duty truck market growth is the lack of uniform and standardized charging stations. Inadequate infrastructure and low availability of charging stations in some regions are affecting the market for electric heavy duty trucks.

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Start-up Ecosystem

  • Locomation is a United States-based start-up that offers a truck platooning platform 'Autonomous Relay Convoy™'. The truck can be assembled into a connected convey and act as a lead truck from a single human-driven truck.
  • CogniMine an Israeli start-up that offers automated solutions for mining vehicles. The company’s Autonomous Mission Kit (AMK) drives the mining vehicle to perform autonomously.

Country-wise Analysis

Why is the United States an Opportunistic Market for Heavy Duty Truck Companies?

“Integration of Advanced Technologies Increasing Demand for Automated Heavy Duty Trucks”

Attribute United States
Market Value (2024E) US$ 34.12 Billion
Growth Rate (2024 to 2034) 4.2% CAGR
Projected Value (2034F) US$ 51.44 Billion

Increasing emphasis on incorporating advanced technologies in the domestic automotive industry is leading to the mushrooming demand for autonomous and self-driven heavy duty trucks in the United States. Integration of advanced driver-assistance system (ADAS) technologies for monitoring and prevention of accidents is one of the notable factors driving the usage of heavy duty trucks that would prevent the loss of human life and goods. Furthermore, the expanding food industry is boosting the adoption of refrigerated trucks in the country.

Why is China a Huge Market for Heavy Duty Truck Suppliers?

“Rising Import Export Activities Boosting Use of Heavy Duty Trucks”

Attribute China
Market Value (2024E) US$ 35.52 Billion
Growth Rate (2024 to 2034) 5.2% CAGR
Projected Value (2034F) US$ 58.98 Billion

Ongoing industrial activities in China are driving high demand for heavy duty trucks. China is known as a major industrial hub across the globe. The booming logistics sector is increasing the use of freight trucks in China. Increasing investment by the Chinese government in road improvement and manufacturing units is further increasing the adoption of heavy duty trucks.

Know thy Competitors

Competitive landscape highlights only certain players
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Category-wise Analysis

Which Class of Truck is Widely Preferred to Carry Out Daily Business Operational Activities?

“Class 8 Heavy Duty Trucks Popular Due to Their High Load-Carrying Ability”

Attribute Class 8
Segment Value (2024E) US$ 121.18 Billion
Growth Rate (2024 to 2034) 4.6% CAGR
Projected Value (2034F) US$ 189.99 Billion

Class 8 heavy duty trucks are highly utilized due to their high load-carrying capacities and availability in various models to serve a wider consumer base. The growing efficiency of commercial trucks and cost-effectiveness per weight are driving the use of heavy duty trucks for transportation purposes.

Why is Usage Tractors and Haulers So High?

“Apart from Agricultural Use Tractors/Haulers Useful in Construction and Transportation”

Attribute Tractors/Haulers
Segment Value (2024E) US$ 60.2 Billion
Growth Rate (2024 to 2034) 3.9% CAGR
Projected Value (2034F) US$ 87.97 Billion

Expanding food and beverage industry across the world is driving farmers’ attention to focus on increasing the overall production of crops. The advancements in farming techniques are increasing the demand for smart agricultural technologies and machinery including tractors. Modern tractors are effective and efficient in carrying out difficult agricultural activities.

Apart from farming, tractors are also used in construction projects, brick kilns, and road-making purposes. Furthermore, the rising transportation activities are increasing the use of haulers, especially to transport vehicles such as cars and others. The surge in large-scale enterprises such as mining and construction are expected to boost the sales of tractors/haulers in the coming 10 years.

Competitive Landscape

Key players in the heavy duty truck market are set to earn high profits due to the growing popularity of electric and autonomous trucks. Leading companies are investing in R&D for the development of advanced heavy duty trucks. North America and Europe are lucrative markets for electric and autonomous truck suppliers. Industry giants are also adopting strategies such as mergers, collaborations, and geographical expansions to boost their market reach.

  • In 2022, Orange EV introduced the e-TRIEVER™, the 3rd generation of its electric yard trucks.
  • In July 2021, Daimler Truck, the Traton Group, and the Volvo Group came together to install public charging networks for electric heavy duty and long-haul trucks across Europe.

Fact.MR provides detailed information about the price points of key manufactures of heavy duty trucks positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Key Segments of Heavy Duty Truck Market Research

  • By Class :

    • Class 7
    • Class 8
    • Others
  • By Fuel :

    • Diesel
    • Natural Gas
    • Hybrid
    • Electric
    • Gasoline
  • By Application :

    • Logistics
    • Construction
    • Agriculture
    • Defence
    • Mining
    • Others
  • By Truck Type :

    • Box/Cab Trucks
    • Dump Trucks
    • Flatbed Trucks
    • Tractors/Haulers
    • Refrigerated Trucks
    • Others
  • By Region :

    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

Table of Content

  • 1. Executive Summary
  • 2. Industry Introduction, including Taxonomy and Market Definition
  • 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
  • 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
  • 5. Pricing Analysis
  • 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
    • 6.1. Class
    • 6.2. Fuel
    • 6.3. Truck Type
    • 6.4. Application
  • 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Class
    • 7.1. Class 7
    • 7.2. Class 8
    • 7.3. Others
  • 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Fuel
    • 8.1. Diesel
    • 8.2. Natural Gas
    • 8.3. Hybrid
    • 8.4. Electric
    • 8.5. Gasoline
  • 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Truck Type
    • 9.1. Box/Cab Trucks
    • 9.2. Dump Trucks
    • 9.3. Flatbed Trucks
    • 9.4. Tractors/Haulers
    • 9.5. Refrigerated Trucks
    • 9.6. Others
  • 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Application
    • 10.1. Logistics
    • 10.2. Construction
    • 10.3. Agriculture
    • 10.4. Defence
    • 10.5. Mining
    • 10.6. Others
  • 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
    • 11.1. North America
    • 11.2. Latin America
    • 11.3. Western Europe
    • 11.4. Eastern Europe
    • 11.5. East Asia
    • 11.6. South Asia & Pacific
    • 11.7. Middle East & Africa
  • 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 17. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 18. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 19. Sales Forecast 2024 to 2034 by Class, Fuel, Truck Type, Application, and Region for 30 Countries
  • 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
  • 21. Company Profile
    • 21.1. Daimler
    • 21.2. Fiat Chrysler Automobiles
    • 21.3. Ford Motor Company
    • 21.4. Freightliner
    • 21.5. Nissan
    • 21.6. Oshkosh Corporation
    • 21.7. Dongfeng
    • 21.8. Eicher Motors Limited
    • 21.9. General Motors
    • 21.10. Kenworth
    • 21.11. Tata Motors
    • 21.12. Toyota
    • 21.13. Paccar
    • 21.14. Peterbilt
    • 21.15. Scania
    • 21.16. Navistar
    • 21.17. Volvo
  • 22. Assumptions and Acronyms Used
  • 23. Research Methodology

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List Of Table

Table 01: Global Market Value (US$ Mn) Analysis, by Class, 2019 to 2023

Table 02: Global Market Value (US$ Mn) Analysis, by Class, 2024 to 2034

Table 03: Global Market Value (US$ Mn) Opportunity Analysis, by Class, 2024 to 2034

Table 04: Global Market Value (US$ Mn) Analysis, by Fuel, 2019 to 2023

Table 05: Global Market Value (US$ Mn) Analysis, by Fuel, 2024 to 2034

Table 06: Global Market Value (US$ Mn) Opportunity Analysis, by Fuel, 2024 to 2034

Table 07: Global Market Value (US$ Mn) Analysis, by Truck Type, 2019 to 2023

Table 08: Global Market Value (US$ Mn) Analysis, by Truck Type, 2024 to 2034

Table 09: Global Market Value (US$ Mn) Opportunity Analysis, by Truck Type, 2024 to 2034

Table 10: Global Market Value (US$ Mn) Analysis, by Application, 2019 to 2023

Table 11: Global Market Value (US$ Mn) Analysis, by Application, 2024 to 2034

Table 12: Global Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034

Table 13: Global Market Value (US$ Mn) Analysis, by Region, 2019 to 2023

Table 14: Global Market Value (US$ Mn) Analysis, by Region, 2024 to 2034

Table 15: Global Market Value (US$ Mn) Opportunity Analysis, by Region, 2024 to 2034

Table 16: North America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023

Table 17: North America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 19: North America Market Value (US$ Mn) Analysis, by Class, 2019 to 2023

Table 20: North America Market Value (US$ Mn) Analysis, by Class, 2024 to 2034

Table 21: North America Market Value (US$ Mn) Opportunity Analysis, by Class, 2024 to 2034

Table 22: North America Market Value (US$ Mn) Analysis, by Fuel, 2019 to 2023

Table 23: North America Market Value (US$ Mn) Analysis, by Fuel, 2024 to 2034

Table 24: North America Market Value (US$ Mn) Opportunity Analysis, by Fuel, 2024 to 2034

Table 25: North America Market Value (US$ Mn) Analysis, by Truck Type, 2019 to 2023

Table 26: North America Market Value (US$ Mn) Analysis, by Truck Type, 2024 to 2034

Table 27: North America Market Value (US$ Mn) Opportunity Analysis, by Truck Type, 2024 to 2034

Table 28: North America Market Value (US$ Mn) Analysis, by Application, 2019 to 2023

Table 29: North America Market Value (US$ Mn) Analysis, by Application, 2024 to 2034

Table 30: North America Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034

Table 31: Latin America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023

Table 32: Latin America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 33: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 34: Latin America Market Value (US$ Mn) Analysis, by Class, 2019 to 2023

Table 35: Latin America Market Value (US$ Mn) Analysis, by Class, 2024 to 2034

Table 36: Latin America Market Value (US$ Mn) Opportunity Analysis, by Class, 2024 to 2034

Table 37: Latin America Market Value (US$ Mn) Analysis, by Fuel, 2019 to 2023

Table 38: Latin America Market Value (US$ Mn) Analysis, by Fuel, 2024 to 2034

Table 39: Latin America Market Value (US$ Mn) Opportunity Analysis, by Fuel, 2024 to 2034

Table 40: Latin America Market Value (US$ Mn) Analysis, by Truck Type, 2019 to 2023

Table 41: Latin America Market Value (US$ Mn) Analysis, by Truck Type, 2024 to 2034

Table 42: Latin America Market Value (US$ Mn) Opportunity Analysis, by Truck Type, 2024 to 2034

Table 43: Latin America Market Value (US$ Mn) Analysis, by Application, 2019 to 2023

Table 44: Latin America Market Value (US$ Mn) Analysis, by Application, 2024 to 2034

Table 45: Latin America Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034

Table 46: Western Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023

Table 47: Western Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 48: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 49: Western Europe Market Value (US$ Mn) Analysis, by Class, 2019 to 2023

Table 50: Western Europe Market Value (US$ Mn) Analysis, by Class, 2024 to 2034

Table 51: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Class, 2024 to 2034

Table 52: Western Europe Market Value (US$ Mn) Analysis, by Fuel, 2019 to 2023

Table 53: Western Europe Market Value (US$ Mn) Analysis, by Fuel, 2024 to 2034

Table 54: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Fuel, 2024 to 2034

Table 55: Western Europe Market Value (US$ Mn) Analysis, by Truck Type, 2019 to 2023

Table 56: Western Europe Market Value (US$ Mn) Analysis, by Truck Type, 2024 to 2034

Table 57: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Truck Type, 2024 to 2034

Table 58: Western Europe Market Value (US$ Mn) Analysis, by Application, 2019 to 2023

Table 59: Western Europe Market Value (US$ Mn) Analysis, by Application, 2024 to 2034

Table 60: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034

Table 61: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023

Table 62: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 63: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 64: Eastern Europe Market Value (US$ Mn) Analysis, by Class, 2019 to 2023

Table 65: Eastern Europe Market Value (US$ Mn) Analysis, by Class, 2024 to 2034

Table 66: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Class, 2024 to 2034

Table 67: Eastern Europe Market Value (US$ Mn) Analysis, by Fuel, 2019 to 2023

Table 68: Eastern Europe Market Value (US$ Mn) Analysis, by Fuel, 2024 to 2034

Table 69: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Fuel, 2024 to 2034

Table 70: Eastern Europe Market Value (US$ Mn) Analysis, by Truck Type, 2019 to 2023

Table 71: Eastern Europe Market Value (US$ Mn) Analysis, by Truck Type, 2024 to 2034

Table 72: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Truck Type, 2024 to 2034

Table 73: Eastern Europe Market Value (US$ Mn) Analysis, by Application, 2019 to 2023

Table 74: Eastern Europe Market Value (US$ Mn) Analysis, by Application, 2024 to 2034

Table 75: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034

Table 76: East Asia Market Value (US$ Mn) Analysis, by Country, 2019 to 2023

Table 77: East Asia Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 78: East Asia Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 79: East Asia Market Value (US$ Mn) Analysis, by Class, 2019 to 2023

Table 80: East Asia Market Value (US$ Mn) Analysis, by Class, 2024 to 2034

Table 81: East Asia Market Value (US$ Mn) Opportunity Analysis, by Class, 2024 to 2034

Table 82: East Asia Market Value (US$ Mn) Analysis, by Fuel, 2019 to 2023

Table 83: East Asia Market Value (US$ Mn) Analysis, by Fuel, 2024 to 2034

Table 84: East Asia Market Value (US$ Mn) Opportunity Analysis, by Fuel, 2024 to 2034

Table 85: East Asia Market Value (US$ Mn) Analysis, by Truck Type, 2019 to 2023

Table 86: East Asia Market Value (US$ Mn) Analysis, by Truck Type, 2024 to 2034

Table 87: East Asia Market Value (US$ Mn) Opportunity Analysis, by Truck Type, 2024 to 2034

Table 88: East Asia Market Value (US$ Mn) Analysis, by Application, 2019 to 2023

Table 89: East Asia Market Value (US$ Mn) Analysis, by Application, 2024 to 2034

Table 90: East Asia Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034

Table 91: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2019 to 2023

Table 92: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 93: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 94: South Asia & Pacific Market Value (US$ Mn) Analysis, by Class, 2019 to 2023

Table 95: South Asia & Pacific Market Value (US$ Mn) Analysis, by Class, 2024 to 2034

Table 96: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Class, 2024 to 2034

Table 97: South Asia & Pacific Market Value (US$ Mn) Analysis, by Fuel, 2019 to 2023

Table 98: South Asia & Pacific Market Value (US$ Mn) Analysis, by Fuel, 2024 to 2034

Table 99: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Fuel, 2024 to 2034

Table 100: South Asia & Pacific Market Value (US$ Mn) Analysis, by Truck Type, 2019 to 2023

Table 101: South Asia & Pacific Market Value (US$ Mn) Analysis, by Truck Type, 2024 to 2034

Table 102: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Truck Type, 2024 to 2034

Table 103: South Asia & Pacific Market Value (US$ Mn) Analysis, by Application, 2019 to 2023

Table 104: South Asia & Pacific Market Value (US$ Mn) Analysis, by Application, 2024 to 2034

Table 105: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034

Table 106: MEA Market Value (US$ Mn) Analysis, by Country, 2019 to 2023

Table 107: MEA Market Value (US$ Mn) Analysis, by Country, 2024 to 2034

Table 108: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034

Table 109: MEA Market Value (US$ Mn) Analysis, by Class, 2019 to 2023

Table 110: MEA Market Value (US$ Mn) Analysis, by Class, 2024 to 2034

Table 111: MEA Market Value (US$ Mn) Opportunity Analysis, by Class, 2024 to 2034

Table 112: MEA Market Value (US$ Mn) Analysis, by Fuel, 2019 to 2023

Table 113: MEA Market Value (US$ Mn) Analysis, by Fuel, 2024 to 2034

Table 114: MEA Market Value (US$ Mn) Opportunity Analysis, by Fuel, 2024 to 2034

Table 115: MEA Market Value (US$ Mn) Analysis, by Truck Type, 2019 to 2023

Table 116: MEA Market Value (US$ Mn) Analysis, by Truck Type, 2024 to 2034

Table 117: MEA Market Value (US$ Mn) Opportunity Analysis, by Truck Type, 2024 to 2034

Table 118: MEA Market Value (US$ Mn) Analysis, by Application, 2019 to 2023

Table 119: MEA Market Value (US$ Mn) Analysis, by Application, 2024 to 2034

Table 120: MEA Market Value (US$ Mn) Opportunity Analysis, by Application, 2024 to 2034

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List Of Figures

Figure 01: Global Market Value (US$ Mn) Historical Analysis, 2019 to 2023

Figure 02: Global Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 03: Global Market Value Y-o-Y Growth and Forecast, 2019 to 2034

Figure 04: Global Market Incremental $ Opportunity, 2024 to 2034

Figure 05: Global Market Share and BPS Analysis by Class, 2024 & 2034

Figure 06: Global Market Y-o-Y Growth Projections by Class, 2024 to 2034

Figure 07: Global Market Attractiveness Analysis by Class, 2024 to 2034

Figure 08: Global Market Share and BPS Analysis by Fuel, 2024 & 2034

Figure 09: Global Market Y-o-Y Growth Projections by Fuel, 2024 to 2034

Figure 10: Global Market Attractiveness Analysis by Fuel, 2024 to 2034

Figure 11: Global Market Share and BPS Analysis by Truck Type, 2024 & 2034

Figure 12: Global Market Y-o-Y Growth Projections by Truck Type, 2024 to 2034

Figure 13: Global Market Attractiveness Analysis by Truck Type, 2024 to 2034

Figure 14: Global Market Share and BPS Analysis by Application, 2024 & 2034

Figure 15: Global Market Y-o-Y Growth Projections by Application, 2024 to 2034

Figure 16: Global Market Attractiveness Analysis by Application, 2024 to 2034

Figure 17: Global Market Share and BPS Analysis by Region, 2024 & 2034

Figure 18: Global Market Y-o-Y Growth Projections by Region, 2024 to 2034

Figure 19: Global Market Attractiveness Analysis by Region, 2024 to 2034

Figure 20: North America Market Value (US$ Mn) Historical Analysis, 2019 to 2023

Figure 21: North America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 22: North America Market Value Y-o-Y Growth and Forecast, 2034

Figure 23: North America Market Incremental $ Opportunity, 2024 to 2034

Figure 24: North America Market Share Analysis by Country, 2024 & 2034

Figure 25: North America Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 26: North America Market Attractiveness Analysis by Country, 2024 to 2034

Figure 27: North America Market Share and BPS Analysis by Class, 2024 & 2034

Figure 28: North America Market Y-o-Y Growth Projections by Class, 2024 to 2034

Figure 29: North America Market Attractiveness Analysis by Class, 2024 to 2034

Figure 30: North America Market Share and BPS Analysis by Fuel, 2024 & 2034

Figure 31: North America Market Y-o-Y Growth Projections by Fuel, 2024 to 2034

Figure 32: North America Market Attractiveness Analysis by Fuel, 2024 to 2034

Figure 33: North America Market Share and BPS Analysis by Truck Type, 2024 & 2034

Figure 34: North America Market Y-o-Y Growth Projections by Truck Type, 2024 to 2034

Figure 35: North America Market Attractiveness Analysis by Truck Type, 2024 to 2034

Figure 36: North America Market Share and BPS Analysis by Application, 2024 & 2034

Figure 37: North America Market Y-o-Y Growth Projections by Application, 2024 to 2034

Figure 38: North America Market Attractiveness Analysis by Application, 2024 to 2034

Figure 39: Latin America Market Value (US$ Mn) Historical Analysis, 2019 to 2023

Figure 40: Latin America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 41: Latin America Market Value Y-o-Y Growth and Forecast, 2019 to 2034

Figure 42: Latin America Market Incremental $ Opportunity, 2024 to 2034

Figure 43: Latin America Market Share Analysis by Country, 2024 & 2034

Figure 44: Latin America Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 45: Latin America Market Attractiveness Analysis by Country, 2024 to 2034

Figure 46: Latin America Market Share and BPS Analysis by Class, 2024 & 2034

Figure 47: Latin America Market Y-o-Y Growth Projections by Class, 2024 to 2034

Figure 48: Latin America Market Attractiveness Analysis by Class, 2024 to 2034

Figure 49: Latin America Market Share and BPS Analysis by Fuel, 2024 & 2034

Figure 50: Latin America Market Y-o-Y Growth Projections by Fuel, 2024 to 2034

Figure 51: Latin America Market Attractiveness Analysis by Fuel, 2024 to 2034

Figure 52: Latin America Market Share and BPS Analysis by Truck Type, 2024 & 2034

Figure 53: Latin America Market Y-o-Y Growth Projections by Truck Type, 2024 to 2034

Figure 54: Latin America Market Attractiveness Analysis by Truck Type, 2024 to 2034

Figure 55: Latin America Market Share and BPS Analysis by Application, 2024 & 2034

Figure 56: Latin America Market Y-o-Y Growth Projections by Application, 2024 to 2034

Figure 57: Latin America Market Attractiveness Analysis by Application, 2024 to 2034

Figure 58: Western Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023

Figure 59: Western Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 60: Western Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034

Figure 61: Western Europe Market Incremental $ Opportunity, 2024 to 2034

Figure 62: Western Europe Market Share Analysis by Country, 2024 & 2034

Figure 63: Western Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 64: Western Europe Market Attractiveness Analysis by Country, 2024 to 2034

Figure 65: Western Europe Market Share and BPS Analysis by Class, 2024 & 2034

Figure 66: Western Europe Market Y-o-Y Growth Projections by Class, 2024 to 2034

Figure 67: Western Europe Market Attractiveness Analysis by Class, 2024 to 2034

Figure 68: Western Europe Market Share and BPS Analysis by Fuel, 2024 & 2034

Figure 69: Western Europe Market Y-o-Y Growth Projections by Fuel, 2024 to 2034

Figure 70: Western Europe Market Attractiveness Analysis by Fuel, 2024 to 2034

Figure 71: Western Europe Market Share and BPS Analysis by Truck Type, 2024 & 2034

Figure 72: Western Europe Market Y-o-Y Growth Projections by Truck Type, 2024 to 2034

Figure 73: Western Europe Market Attractiveness Analysis by Truck Type, 2024 to 2034

Figure 74: Western Europe Market Share and BPS Analysis by Application, 2024 & 2034

Figure 75: Western Europe Market Y-o-Y Growth Projections by Application, 2024 to 2034

Figure 76: Western Europe Market Attractiveness Analysis by Application, 2024 to 2034

Figure 77: Eastern Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023

Figure 78: Eastern Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 79: Eastern Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034

Figure 80: Eastern Europe Market Incremental $ Opportunity, 2024 to 2034

Figure 81: Eastern Europe Market Share Analysis by Country, 2024 & 2034

Figure 82: Eastern Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 83: Eastern Europe Market Attractiveness Analysis by Country, 2024 to 2034

Figure 84: Eastern Europe Market Share and BPS Analysis by Class, 2024 & 2034

Figure 85: Eastern Europe Market Y-o-Y Growth Projections by Class, 2024 to 2034

Figure 86: Eastern Europe Market Attractiveness Analysis by Class, 2024 to 2034

Figure 87: Eastern Europe Market Share and BPS Analysis by Fuel, 2024 & 2034

Figure 88: Eastern Europe Market Y-o-Y Growth Projections by Fuel, 2024 to 2034

Figure 89: Eastern Europe Market Attractiveness Analysis by Fuel, 2024 to 2034

Figure 90: Eastern Europe Market Share and BPS Analysis by Truck Type, 2024 & 2034

Figure 91: Eastern Europe Market Y-o-Y Growth Projections by Truck Type, 2024 to 2034

Figure 92: Eastern Europe Market Attractiveness Analysis by Truck Type, 2024 to 2034

Figure 93: Eastern Europe Market Share and BPS Analysis by Application, 2024 & 2034

Figure 94: Eastern Europe Market Y-o-Y Growth Projections by Application, 2024 to 2034

Figure 95: Eastern Europe Market Attractiveness Analysis by Application, 2024 to 2034

Figure 96: East Asia Market Value (US$ Mn) Historical Analysis, 2019 to 2023

Figure 97: East Asia Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 98: East Asia Market Value Y-o-Y Growth and Forecast, 2019 to 2034

Figure 99: East Asia Market Incremental $ Opportunity, 2024 to 2034

Figure 100: East Asia Market Share Analysis by Country, 2024 & 2034

Figure 101: East Asia Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 102: East Asia Market Attractiveness Analysis by Country, 2024 to 2034

Figure 103: East Asia Market Share and BPS Analysis by Class, 2024 & 2034

Figure 104: East Asia Market Y-o-Y Growth Projections by Class, 2024 to 2034

Figure 105: East Asia Market Attractiveness Analysis by Class, 2024 to 2034

Figure 106: East Asia Market Share and BPS Analysis by Fuel, 2024 & 2034

Figure 107: East Asia Market Y-o-Y Growth Projections by Fuel, 2024 to 2034

Figure 108: East Asia Market Attractiveness Analysis by Fuel, 2024 to 2034

Figure 109: East Asia Market Share and BPS Analysis by Truck Type, 2024 & 2034

Figure 110: East Asia Market Y-o-Y Growth Projections by Truck Type, 2024 to 2034

Figure 111: East Asia Market Attractiveness Analysis by Truck Type, 2024 to 2034

Figure 112: East Asia Market Share and BPS Analysis by Application, 2024 & 2034

Figure 113: East Asia Market Y-o-Y Growth Projections by Application, 2024 to 2034

Figure 114: East Asia Market Attractiveness Analysis by Application, 2024 to 2034

Figure 115: South Asia & Pacific Market Value (US$ Mn) Historical Analysis, 2019 to 2023

Figure 116: South Asia & Pacific Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 117: South Asia & Pacific Market Value Y-o-Y Growth and Forecast, 2019 to 2034

Figure 118: South Asia & Pacific Market Incremental $ Opportunity, 2024 to 2034

Figure 119: South Asia & Pacific Market Share Analysis by Country, 2024 & 2034

Figure 120: South Asia & Pacific Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 121: South Asia & Pacific Market Attractiveness Analysis by Country, 2024 to 2034

Figure 122: South Asia & Pacific Market Share and BPS Analysis by Class, 2024 & 2034

Figure 123: South Asia & Pacific Market Y-o-Y Growth Projections by Class, 2024 to 2034

Figure 124: South Asia & Pacific Market Attractiveness Analysis by Class, 2024 to 2034

Figure 125: South Asia & Pacific Market Share and BPS Analysis by Fuel, 2024 & 2034

Figure 126: South Asia & Pacific Market Y-o-Y Growth Projections by Fuel, 2024 to 2034

Figure 127: South Asia & Pacific Market Attractiveness Analysis by Fuel, 2024 to 2034

Figure 128: South Asia & Pacific Market Share and BPS Analysis by Truck Type, 2024 & 2034

Figure 129: South Asia & Pacific Market Y-o-Y Growth Projections by Truck Type, 2024 to 2034

Figure 130: South Asia & Pacific Market Attractiveness Analysis by Truck Type, 2024 to 2034

Figure 131: South Asia & Pacific Market Share and BPS Analysis by Application, 2024 & 2034

Figure 132: South Asia & Pacific Market Y-o-Y Growth Projections by Application, 2024 to 2034

Figure 133: South Asia & Pacific Market Attractiveness Analysis by Application, 2024 to 2034

Figure 134: MEA Market Value (US$ Mn) Historical Analysis, 2019 to 2023

Figure 135: MEA Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034

Figure 136: MEA Market Value Y-o-Y Growth and Forecast, 2019 to 2034

Figure 137: MEA Market Incremental $ Opportunity, 2024 to 2034

Figure 138: MEA Market Share Analysis by Country, 2024 & 2034

Figure 139: MEA Market Y-o-Y Growth Projection by Country, 2024 to 2034

Figure 140: MEA Market Attractiveness Analysis by Country, 2024 to 2034

Figure 141: MEA Market Share and BPS Analysis by Class, 2024 & 2034

Figure 142: MEA Market Y-o-Y Growth Projections by Class, 2024 to 2034

Figure 143: MEA Market Attractiveness Analysis by Class, 2024 to 2034

Figure 144: MEA Market Share and BPS Analysis by Fuel, 2024 & 2034

Figure 145: MEA Market Y-o-Y Growth Projections by Fuel, 2024 to 2034

Figure 146: MEA Market Attractiveness Analysis by Fuel, 2024 to 2034

Figure 147: MEA Market Share and BPS Analysis by Truck Type, 2024 & 2034

Figure 148: MEA Market Y-o-Y Growth Projections by Truck Type, 2024 to 2034

Figure 149: MEA Market Attractiveness Analysis by Truck Type, 2024 to 2034

Figure 150: MEA Market Share and BPS Analysis by Application, 2024 & 2034

Figure 151: MEA Market Y-o-Y Growth Projections by Application, 2024 to 2034

Figure 152: MEA Market Attractiveness Analysis by Application, 2024 to 2034

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

- FAQs -

How big is the heavy duty truck market in 2024?

The global heavy duty truck market is approximated at US$ 194.82 billion in 2024.

What is the demand outlook for heavy duty trucks?

Demand for heavy duty trucks is foreseen to increase at a CAGR of 4.6% during the next 10 years.

What is the forecasted valuation of the global market by 2034?

Worldwide sales of heavy duty trucks are projected to reach US$ 305.46 billion by 2034.

What share does North America account for in the global market?

In 2024, North America is expected to hold 25.8% of the global market share.

Which truck type is widely utilized across the world?

Tractor/hauler sales are forecasted to reach US$ 87.97 billion by 2034.

Who are the well-known manufacturers of heavy duty trucks?

Some of the leading companies are Daimler, Fiat Chrysler Automobiles, Ford Motor Company, Freightliner, and Nissan.

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