Global Heavy Duty Trucks
Market Report
2025
As per Cognitive Market Research's latest published report, the Global Heavy Duty Truck market size was USD 209,987.8 million in 2022 and it is forecasted to reach USD 328678.9 million by 2030. Heavy Duty Truck Industry's Compound Annual Growth Rate will be 4.9% from 2023 to 2030.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global Heavy Duty Truck market size was USD 209,987.8 million in 2022 and it is forecasted to reach USD 328678.9 million by 2030. Heavy Duty Truck Industry's Compound Annual Growth Rate will be 4.9% from 2023 to 2030.
2021 | 2025 | 2033 | CAGR | |
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Global Heavy Duty Trucks Market Sales Revenue | $ 305.374 Billion | $ 366.4 Billion | $ 527.474 Billion | 4.66% |
North America Heavy Duty Trucks Market Sales Revenue | $ 91.063 Billion | $ 106.329 Billion | $ 149.275 Billion | 4.332% |
United States Heavy Duty Trucks Market Sales Revenue | $ 72.449 Billion | $ 84.17 Billion | $ 117.42 Billion | 4.249% |
Canada Heavy Duty Trucks Market Sales Revenue | $ 12.057 Billion | $ 14.291 Billion | $ 20.66 Billion | 4.715% |
Mexico Heavy Duty Trucks Market Sales Revenue | $ 6.557 Billion | $ 7.868 Billion | $ 11.196 Billion | 4.507% |
Europe Heavy Duty Trucks Market Sales Revenue | $ 64.129 Billion | $ 74.746 Billion | $ 106.022 Billion | 4.466% |
United Kingdom Heavy Duty Trucks Market Sales Revenue | $ 7.247 Billion | $ 8.596 Billion | $ 12.405 Billion | 4.692% |
Germany Heavy Duty Trucks Market Sales Revenue | $ 10.709 Billion | $ 12.856 Billion | $ 18.872 Billion | 4.915% |
France Heavy Duty Trucks Market Sales Revenue | $ 7.695 Billion | $ 8.745 Billion | $ 11.981 Billion | 4.013% |
Italy Heavy Duty Trucks Market Sales Revenue | $ 3.976 Billion | $ 4.335 Billion | $ 5.725 Billion | 3.537% |
Russia Heavy Duty Trucks Market Sales Revenue | $ 7.824 Billion | $ 8.82 Billion | $ 12.087 Billion | 4.017% |
Spain Heavy Duty Trucks Market Sales Revenue | $ 4.297 Billion | $ 4.784 Billion | $ 6.679 Billion | 4.261% |
Sweden Heavy Duty Trucks Market Sales Revenue | $ 3.078 Billion | $ 3.438 Billion | $ 4.559 Billion | 3.589% |
Denmark Heavy Duty Trucks Market Sales Revenue | $ 2.822 Billion | $ 3.214 Billion | $ 4.453 Billion | 4.16% |
Switzerland Heavy Duty Trucks Market Sales Revenue | $ 2.629 Billion | $ 2.915 Billion | $ 3.923 Billion | 3.781% |
Luxembourg Heavy Duty Trucks Market Sales Revenue | $ 1.86 Billion | $ 2.018 Billion | $ 2.757 Billion | 3.975% |
Rest of Europe Heavy Duty Trucks Market Sales Revenue | $ 11.992 Billion | $ 15.024 Billion | $ 22.583 Billion | 5.226% |
Asia Pacific Heavy Duty Trucks Market Sales Revenue | $ 110.546 Billion | $ 133.37 Billion | $ 201.495 Billion | 5.293% |
China Heavy Duty Trucks Market Sales Revenue | $ 43.444 Billion | $ 52.814 Billion | $ 82.21 Billion | 5.687% |
Japan Heavy Duty Trucks Market Sales Revenue | $ 12.558 Billion | $ 14.617 Billion | $ 21.278 Billion | 4.805% |
India Heavy Duty Trucks Market Sales Revenue | $ 20.119 Billion | $ 25.073 Billion | $ 39.292 Billion | 5.776% |
South Korea Heavy Duty Trucks Market Sales Revenue | $ 6.191 Billion | $ 6.802 Billion | $ 9.269 Billion | 3.944% |
Australia Heavy Duty Trucks Market Sales Revenue | $ 2.023 Billion | $ 2.174 Billion | $ 2.881 Billion | 3.584% |
Singapore Heavy Duty Trucks Market Sales Revenue | $ 3.095 Billion | $ 3.468 Billion | $ 4.836 Billion | 4.245% |
South East Asia Heavy Duty Trucks Market Sales Revenue | $ 16.549 Billion | $ 20.232 Billion | $ 28.894 Billion | 4.555% |
Taiwan Heavy Duty Trucks Market Sales Revenue | $ 3.316 Billion | $ 3.734 Billion | $ 5.239 Billion | 4.322% |
South America Heavy Duty Trucks Market Sales Revenue | $ 17.406 Billion | $ 25.282 Billion | $ 36.923 Billion | 4.848% |
Brazil Heavy Duty Trucks Market Sales Revenue | $ 5.814 Billion | $ 8.52 Billion | $ 12.554 Billion | 4.965% |
Argentina Heavy Duty Trucks Market Sales Revenue | $ 2.332 Billion | $ 3.312 Billion | $ 4.615 Billion | 4.236% |
Colombia Heavy Duty Trucks Market Sales Revenue | $ 1.271 Billion | $ 1.871 Billion | $ 2.769 Billion | 5.024% |
Peru Heavy Duty Trucks Market Sales Revenue | $ 0.923 Billion | $ 1.289 Billion | $ 1.809 Billion | 4.325% |
Chile Heavy Duty Trucks Market Sales Revenue | $ 0.766 Billion | $ 1.062 Billion | $ 1.514 Billion | 4.533% |
Rest of South America Heavy Duty Trucks Market Sales Revenue | $ 6.301 Billion | $ 9.228 Billion | $ 13.662 Billion | 5.027% |
Middle East Heavy Duty Trucks Market Sales Revenue | $ 13.925 Billion | $ 16.708 Billion | $ 21.415 Billion | 3.152% |
Saudi Arabia Heavy Duty Trucks Market Sales Revenue | $ 5.556 Billion | $ 6.75 Billion | $ 8.626 Billion | 3.113% |
Turkey Heavy Duty Trucks Market Sales Revenue | $ 3.231 Billion | $ 3.809 Billion | $ 4.818 Billion | 2.981% |
UAE Heavy Duty Trucks Market Sales Revenue | $ 1.61 Billion | $ 1.948 Billion | $ 2.57 Billion | 3.523% |
Egypt Heavy Duty Trucks Market Sales Revenue | $ 1.546 Billion | $ 1.888 Billion | $ 2.463 Billion | 3.378% |
Qatar Heavy Duty Trucks Market Sales Revenue | $ 1.217 Billion | $ 1.51 Billion | $ 1.957 Billion | 3.294% |
Rest of Middle East Heavy Duty Trucks Market Sales Revenue | $ 0.766 Billion | $ 0.802 Billion | $ 0.981 Billion | 2.548% |
Africa Heavy Duty Trucks Market Sales Revenue | $ 8.306 Billion | $ 9.966 Billion | $ 12.343 Billion | 2.71% |
Nigeria Heavy Duty Trucks Market Sales Revenue | $ 2.068 Billion | $ 2.501 Billion | $ 3.147 Billion | 2.913% |
South Africa Heavy Duty Trucks Market Sales Revenue | $ 3.63 Billion | $ 4.315 Billion | $ 5.283 Billion | 2.561% |
Rest of Africa Heavy Duty Trucks Market Sales Revenue | $ 2.608 Billion | $ 3.149 Billion | $ 3.913 Billion | 2.75% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Class |
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Market Split by Application |
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Market Split by Fuel |
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Market Split by Truck Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:
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Market Restrains:
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Market Trends:
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Heavy Duty Trucks Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A heavy-duty truck is categorized as a vehicle that has or exceeds a Gross Vehicle Weight Rating (GVWR) of more than 26,001 pounds. It includes polished stainless steel for brilliant finishes, aluminum for lightweight and corrosion resistance, steel for strength and durability, and molded plastics for intricate shapes. Heavy-duty trucks are frequently utilized in the commercial sector, particularly on construction sites to transport bulky building supplies or carry massive loads. These vehicles are built with strong transmissions and powerful engines.
An increase in demand for goods along with an increase in construction and development of infrastructure is a major factor driving the demand for the heavy-duty trucks market. Governments in both developed and developing countries around the world are making large investments in improving and updating their road network infrastructure, which depends on heavy trucks to transport the bulk of the world's largest goods.
Furthermore, increasing urbanization in developing and developed economies coupled with rising consumer preference towards utilizing vehicles with innovative technology will create growth opportunities for the market.
The rise of e-commerce and last-mile delivery services has led to an increased demand for dependable logistics and freight transportation systems. Although light commercial vehicles are predominant in last-mile delivery, heavy-duty trucks are essential for long-haul and inter-city transport within e-commerce supply chains. With global e-commerce sales expected to continue their upward trajectory, logistics companies are investing in high-capacity vehicles to accommodate the growing freight volumes—thereby enhancing the demand for technologically advanced, fuel-efficient heavy-duty trucks.
However, a lack of technological expertise in developing and underdeveloped economies will pose a major challenge to the market growth rate. High costs involved with technological innovations and research and development proficiencies, poor infrastructural facilities in underdeveloped economies, and manufacturing challenges faced by original equipment manufacturers organizations will hamper the market growth rate.
Heavy-duty truck manufacturers face significant pressure to innovate due to stricter emission regulations and the demand for enhanced fuel efficiency. However, the integration of advanced technologies such as autonomous driving systems, telematics, and electric or hybrid powertrains necessitates substantial capital investment in research and development. These expenses elevate the overall cost of trucks, presenting affordability challenges for small fleet operators, particularly in price-sensitive markets. This financial obstacle hampers the adoption of next-generation trucks, thereby restraining overall market growth.
In numerous developing and underdeveloped economies, insufficient road infrastructure and limited service networks impede the efficient operation and maintenance of heavy-duty trucks. Furthermore, a shortage of skilled technicians and drivers presents operational difficulties. Poor road conditions also contribute to accelerated wear and tear of vehicles, leading to increased operational costs and deterring investment. These challenges restrict the penetration of modern trucks in rural or remote regions, limiting market expansion in critical growth areas.
Motivated by climate objectives and more stringent emissions regulations, manufacturers are progressively investing in electric heavy-duty trucks. Companies such as Tesla (Semi), Volvo, and Daimler are introducing electric models for freight transportation. Although still in the initial adoption stage, this trend is gaining traction as battery technology advances and governments provide incentives for cleaner transportation. Fleet operators are slowly embracing electric trucks to lower carbon emissions and operational costs over the long term.
Safety remains a paramount concern in contemporary heavy-duty trucks. Manufacturers are incorporating ADAS features such as lane departure warning, automatic emergency braking, adaptive cruise control, and blind spot detection into their vehicles. These systems not only help in minimizing accidents but also adhere to the evolving global safety standards. This trend is especially noticeable in North America and Europe, where strict regulations and increasing insurance costs render safety-enhancing technology a crucial market differentiator.
The integration of telematics is transforming fleet operations by facilitating real-time vehicle tracking, predictive maintenance, monitoring of driver behavior, and optimization of fuel efficiency. Fleet operators utilize these tools to boost efficiency, decrease downtime, and enhance return on investment (ROI). Cloud-based fleet management platforms and AI-driven analytics are gaining traction, making data-informed decisions essential to commercial transport strategies. This trend is anticipated to gain momentum in both developed and emerging logistics markets.
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Volvo Trucks launched Volvo VNR electric truck with a longer range.
In January 2022, Volvo Trucks introduced the longer-range Volvo VNR electric truck. The operating range of the Volvo VNR Electric was up to 240 kilometers (150 miles). With an expanded operating range of up to 440 km (275 miles) and higher energy storage of up to 565 kWh, the business introduced an improved version of class 8* electric truck. A new six-battery package option and enhanced battery architecture, among other things, are responsible for the increased performance.
Top Companies Market Share in Heavy Duty Trucks Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
North America region is forecasted to dominate the global heavy-duty truck market with the highest growth rate. This is attributed to the rising research and development activities to increase the product lines and growth of the automotive sector. Furthermore, Asia Pacific is forecasted to dominate the target market in terms of revenue share. This is attributed to the increasing demand for commercial vehicles, and the growing number of end-user industry verticals such as rising buildings, automotive, heavy machinery, and construction activities in countries like India, Japan, and China.
The current report Scope analyzes Heavy Duty Trucks Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Heavy Duty Trucks Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Heavy Duty Trucks Industry growth. Heavy Duty Trucks market has been segmented with the help of its Class, Application Fuel, and others. Heavy Duty Trucks market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on Class, the market is segmented into Class 5, Class 6, Class 7, and Class 8. Class 8 segment dominates the growth of the global market, due to class 8 heavy-duty trucks having a great load-carrying capacity, and its ability to drive long distances will increase demand for the target market.
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Based on Application, the market is segmented into agriculture, logistics, construction, and mining. The construction segment dominates the global market This is attributed to an increase in infrastructure development and construction dominates the global heavy-duty trucks market.
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Based on Fuel, the market is segmented into a hybrid electric vehicles, diesel, natural gas, and gasoline. The hybrid-electric market dominates the global market, due to strict emission standards set by the governments of several nations throughout the world
Research Associate at Cognitive Market Research
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Heavy Duty Trucks Market is witnessing significant growth in the near future.
In 2023, the Class 5 segment accounted for noticeable share of global Heavy Duty Trucks Market and is projected to experience significant growth in the near future.
The Logistics segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Daimler , Freightliner and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
‘Heavy truck market likely to hit 2018-19 peak this fiscal year’
BAE Systems, a prominent leader in electric propulsion technology, and Eaton, a global power management company, are broadening their partnership to include advanced electric vehicle (EV) solutions tailored for heavy-duty trucks. This expansion builds on their 2023 memorandum of understanding, initially focused on medium-duty trucks, to now encompass heavier commercial vehicles exceeding 19 tons.
Disclaimer:
Class | Class 5, Class 6, Class 7, Class 8, Others |
Application | Logistics, Construction, Agriculture, Defence, Mining, Others |
Fuel | Diesel, Natural Gas, Hybrid, Electric, Gasoline |
Truck Type | Box/Cab Trucks, Dump Trucks, Flatbed Trucks, Tractors/Haulers, Refrigerated Trucks, Others |
List of Competitors | Daimler, Ford Motor Company, Freightliner, Oshkosh Corporation, Dongfeng, Eicher Motors Limited, Kenworth, Tata Motors, Paccar, Volkswagen (via Traton Group), Peterbilt, Scania, Navistar, Volvo |
This chapter will help you gain GLOBAL Market Analysis of Heavy Duty Trucks. Further deep in this chapter, you will be able to review Global Heavy Duty Trucks Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Heavy Duty Trucks. Further deep in this chapter, you will be able to review North America Heavy Duty Trucks Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Heavy Duty Trucks. Further deep in this chapter, you will be able to review Europe Heavy Duty Trucks Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Heavy Duty Trucks. Further deep in this chapter, you will be able to review Asia Pacific Heavy Duty Trucks Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Heavy Duty Trucks. Further deep in this chapter, you will be able to review South America Heavy Duty Trucks Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Heavy Duty Trucks. Further deep in this chapter, you will be able to review Middle East Heavy Duty Trucks Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Heavy Duty Trucks. Further deep in this chapter, you will be able to review Middle East Heavy Duty Trucks Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Heavy Duty Trucks. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Class Analysis 2019 -2031, will provide market size split by Class. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Class Analysis 2021 - 2033
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Chapter 11 Market Split by Application Analysis 2021 - 2033
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Chapter 12 Market Split by Fuel Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Truck Type Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Heavy Duty Trucks market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 15 Research Methodology and Sources
Why Class 5 have a significant impact on Heavy Duty Trucks market? |
What are the key factors affecting the Class 5 and Class 6 of Heavy Duty Trucks Market? |
What is the CAGR/Growth Rate of Logistics during the forecast period? |
By type, which segment accounted for largest share of the global Heavy Duty Trucks Market? |
Which region is expected to dominate the global Heavy Duty Trucks Market within the forecast period? |