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.
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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
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- 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.
Heavy Duty Truck Market