Heavy Trucks Market Report 2025 (Global Edition)

Global Heavy Trucks Market Report 2025 Market Size Split by Tonnage Type (10 to 15 tons, More than 15 tons), by Application (Construction and Mining, Freight and Logistics, Other), by Class (Class, -5...

Heavy Trucks Market Report Description

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Imapct of Trumph Tariff on Electronics and Electrical Industry

In 2025, global trade has entered a period of renewed volatility as the U.S., under President Donald Trump, introduced sweeping tariffs known as the Liberation Day Tariffs. Aimed at addressing trade imbalances and foreign supply chain dominance, the tariffs range from 10% on allies like Australia and the UK to 46% on Vietnamese goods and 34% on Chinese imports. A 25% universal tariff on steel, aluminum, and auto parts has further strained global trade ties. The electronics sector is among the hardest hit, particularly due to the escalating U.S.China trade war. Tariffs on Chinese goods now reach up to 145% in sectors like semiconductors and consumer electronics, while China has retaliated with up to 125% duties and restrictions on critical mineral exports. This has disrupted just-in-time supply chains and increased component costs.

Specific tariffs include 25% on semiconductors, 20% on lithium-ion batteries, and 10–15% on consumer electronics like laptops and tablets, leading to higher retail prices and reduced consumer demand. Sub-sectors such as home automation, computer hardware, communication electronics, medical devices, and industrial electronics are all under pressure due to rising input costs and supply chain delays. Companies are revisiting suppliers, shifting sourcing to countries like India, Mexico, and Vietnam, and redesigning products to avoid high-tariff components.

China remains a key player, contributing USD 119 billion in electronics exports to the U.S. in 2023. Even components routed through countries like Malaysia and Vietnam often rely on Chinese subparts, making the ripple effect of tariffs widespread. U.S. electronics firms operating on thin margins are seeing input costs rise 18–25%, with contract manufacturers in alternative regions facing capacity constraints.

Market research is now critical. It helps companies identify new suppliers, analyze cost trends, optimize product design, forecast demand shifts, and track regulatory changes. Tools like supplier mapping, BOM optimization, and scenario planning support strategic responses to ongoing disruptions. Leading firms like Apple and Dell are expanding production outside China, while others invest in digital supply chain tools and redesign products for cost resilience. In this evolving trade environment, firms that leverage research-driven strategies are better positioned to adapt and thrive.

Competitive Landscape of the Heavy Trucks Market

The heavy trucks market is highly competitive, dominated by companies focusing on innovation, with significant investments in electric and autonomous trucks to meet evolving regulatory and environmental demands. Regional manufacturers in Asia, such as Tata Motors and Dongfeng, add further competition, especially in emerging markets. Competitive strategies center around advanced technologies, fuel efficiency, and after-sales service, as companies aim to differentiate themselves and capture a larger market share globally.

In January 2022, Ford Motor Company began the production of an all-electric van, an e-Transit, which has an all-electric powertrain and claims zero tailpipe emission. (Source: https://media.ford.com/content/fordmedia/feu/en/news/2020/11/12/All-Electric-Ford-E-Transit.html)

Top Companies Market Share in Heavy Trucks Industry: (In no particular order of Rank)

• Daimler AG
• Volvo Group
• PACCAR Inc
• Navistar International Corporation
• MAN SE
• Scania AB
• Iveco S.p.A.
• Hino Motors
• Ltd.
• Isuzu Motors Ltd.
• Kenworth Truck Company
• Mack Trucks
• Inc.
• Western Star Trucks
• Peterbilt Motors Company
• Ashok Leyland
• Dongfeng Motor Corporation
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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.

Regional Analysis of the Heavy Trucks Market

Which Region Dominates the Heavy Trucks Market in 2024?

According to Cognitive Market Research, North America currently dominates the Heavy Trucks market, and the region is expected to have significant growth during the projected period due to its advanced infrastructure, high demand in sectors like logistics and construction, and strong presence of leading manufacturers.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Government investments in construction and transport sectors, along with rising e-commerce activities, drive demand for heavy trucks, spurring growth across the region.

The current report Scope analyzes Heavy 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

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Heavy Trucks Market Analysis

According to Cognitive Market Research, the global Heavy Trucks market size was estimated at USD 196554.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 78621.80 million in 2024 and will rise at the compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Heavy Trucks market with a market size of USD 62032.60 million in 2024 and is projected to rise at a CAGR of 3.0% during the forecast years due to the rising infrastructure investment and construction activities.
• The Canada Heavy Trucks market had a market share of USD 9434.62 million in 2024 and is projected to rise at the CAGR of 4.0% during the forecast years due to the rising technological advancements in trucking efficiency and safety.
• The Mexico Heavy Trucks market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 7154.58 million in 2024.

Europe Heavy Trucks Market Analysis

According to Cognitive Market Research, the global Heavy Trucks market size was estimated at USD 196554.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 58966.35 million in 2024 and will rise at the compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.

• The United Kingdom Heavy Trucks market had a market share of USD 9906.35 million in 2024 and is projected to rise at the CAGR of 4.3% during the forecast years. In the UK, Heavy truck sales witness an upswing due to the growing demand for e-commerce and logistics services.
• The France Heavy Trucks market is projected to witness growth at the CAGR of 2.7% during the forecast period, with a market size of USD 5424.90 million in 2024.
• According to Cognitive Market Research, the German Heavy Trucks market size was valued at USD 11675.34 million in 2024 and is projected to rise at the CAGR of 3.7% during the forecast years. In Germany, Heavy Trucks surged due to the increased investment in infrastructure development.
• The Italy Heavy Trucks market is projected to witness growth at a CAGR of 2.9% during the forecast period, with a market size of USD 5071.11 million in 2024.
• The Russia Heavy Trucks market is projected to witness growth at a CAGR of 2.5% during the forecast period, with a market size of USD 9139.78 million in 2024.
• The Spain Heavy Trucks market is projected to witness growth at the CAGR of 2.6% during the forecast period with a market size of USD 4835.24 million in 2024
• The Luxembourg Heavy Trucks market is projected to witness growth at a CAGR of 3.6% during the forecast period, with a market size of USD 1827.96 million in 2024.
• The Portugal Heavy Trucks market is projected to witness growth at a CAGR of 3.3% during the forecast period, with a market size of USD 1238.29 million in 2024.
• The Greece Heavy Trucks market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 707.60 million in 2024.
• The Rest of Europe's Heavy Trucks market is foreseen to witness growth at the CAGR of 2.2% during the forecast period, with a market size of USD 9139.78 million in 2024.

Asia Pacific Heavy Trucks Market Analysis

According to Cognitive Market Research, the global Heavy Trucks market size was estimated at USD 196554.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 45207.54 million in 2024 and will rise at the compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Heavy Trucks market size was valued at USD 20343.39 million in 2024 and is projected to rise at a CAGR of 6.5% during the forecast years. Heavy Trucks surged in China due to the rising e-commerce and logistics demand.
• The Japan Heavy Trucks market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 6238.64 million in 2024.
• The India Heavy Trucks market had a market share of USD 5424.90 million in 2024 and is projected to rise at the CAGR of 8.8% during the forecast period due to government initiatives for fleet modernization.
• The South Korean Heavy Trucks market is foreseen to witness growth at a CAGR of 6.1% during the forecast period, with a market size of USD 4520.75 million in 2024.
• The Australian Heavy Trucks market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 2350.79 million in 2024.
• The Southeast Asia Heavy Trucks market is foreseen to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 3119.32 million in 2024.
• The Rest of Asia Pacific Heavy Trucks market is foreseen to witness growth at the CAGR of 6.8% during the forecast period, with a market size of USD 3209.73 million in 2024.

South America Heavy Trucks Market Analysis

According to Cognitive Market Research, the global Heavy Trucks market size was estimated at USD 196554.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 9827.73 million in 2024 and will rise at the compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Heavy Trucks market size was valued at USD 4206.27 million in 2024 and is projected to rise at the CAGR of 5.0% during the forecast period. Heavy Trucks flourished in Brazil due to economic growth and industrial expansion.
• Argentina's Heavy Trucks market had a market share of USD 1651.06 million in 2024 and is projected to rise at the CAGR of 5.3% during the forecast years due to the infrastructure development initiatives .
• Colombia Heavy Trucks market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 874.67 million in 2024.
• Peru Heavy Trucks market is projected to witness growth at the CAGR of 4.6% during the forecast years, with a market size of USD 805.87 million in 2024.
• Chile Heavy Trucks market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 707.60 million in 2024.
• The Rest of Latin America's Heavy Trucks market is foreseen to witness growth at the CAGR of 3.5% during the forecast period, with a market size of USD 1582.26 million in 2024.

Middle East Heavy Trucks Market Analysis

According to Cognitive Market Research, the global Heavy Trucks market size was estimated at USD 196554.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 3931.09 million in 2024 and will rise at the compound annual growth rate (CAGR) of 4.7% from 2024 to 2031..

• The GCC Countries Heavy Trucks market is foreseen to witness growth at the CAGR of 5.5% during the forecast period, with a market size of USD 1682.51 million in 2024. Heavy Truck sales flourish due to the growing infrastructure development.
• The Egypt Heavy Trucks market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 412.76 million in 2024.
• The South Africa Heavy Trucks market is foreseen to witness growth at a CAGR of 5.7% during the forecast years, with a market size of USD 621.11 million in 2024. Heavy Trucks sales flourished in South Africa due to the rising urbanization and construction activities.
• The Turkey Heavy Trucks market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 338.07 million in 2024.
• The Nigeria Heavy Trucks market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 412.76 million in 2024.
• The Rest of the MEA Heavy Trucks market is foreseen to witness growth at the CAGR of 3.7% during the forecast period, with a market size of USD 463.87 million in 2024.

Heavy Trucks Market Analysis

Heavy Trucks Market Tonnage Type Segment Analysis

According to Cognitive Market Research, 10 to 15-ton heavy trucks are likely to dominate the Heavy Trucks Market over the forecast period due to their versatility, balancing payload capacity and fuel efficiency, making them ideal for diverse applications like urban delivery and regional transport. Their adaptability across various industries, including construction and logistics, meets the demand for medium-heavy transport, especially in growing urban areas.

The more than 15 tons is the fastest-growing segment in the Heavy Trucks Market due to increased demand for transportation in construction, logistics, and e-commerce. These trucks offer higher payload capacities, allowing efficient logistics and cost-effective operations, which are critical as industries expand and seek reliable solutions for moving large volumes of goods.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Heavy Trucks Industry. Request a Free Sample PDF!

Heavy Trucks Market Application Segment Analysis

According to Cognitive Market Research, the construction and mining segment holds the largest share of the market by driving high demand for durable, high-capacity vehicles capable of transporting heavy loads and equipment. The continuous growth in infrastructure projects and mining activities necessitates reliable heavy trucks, making these sectors critical for market expansion and innovation in truck design.

In the Heavy Trucks Market, the freight and logistics sector has been expanding at a rapid pace due to the surge in e-commerce and the surging demand for efficient supply chain solutions. As businesses prioritize timely deliveries and streamlined operations, the need for heavy-duty trucks capable of handling substantial loads has escalated significantly.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Heavy Trucks Class Segment Analysis

Heavy Trucks Market Class Segment Analysis

According to Cognitive Market Research, the class 8 segment holds the largest market share due to its high payload capacities and versatility, making it ideal for long-haul transportation and heavy-duty applications. They are essential for logistics, construction, and freight industries, leading to strong demand and significant market share compared to lighter truck classes.

In the Heavy Trucks market, the rapidly growing sector is the class 7 category because of their versatility and suitability for various applications, such as delivery and construction. Their balance of payload capacity and maneuverability makes them ideal for urban environments, driving demand among logistics companies and businesses seeking efficient transport solutions.

• Class
• -5
• Class-6
• Class-7
• Class-8

Heavy Trucks Fuel Type Segment Analysis

Heavy Trucks Market Fuel Type Segment Analysis

According to Cognitive Market Research, the diesel segment dominates the market because of its superior fuel efficiency, higher torque, and ability to handle heavy loads, making it ideal for long-haul transportation and demanding applications. Additionally, the established infrastructure for diesel refueling and lower operating costs further solidify its preference among fleet operators.

Electric is projected to be the fastest-growing segment in the Heavy Trucks market due to increasing environmental regulations, rising fuel costs, and growing demand for sustainable logistics solutions. Innovations in battery technology and government incentives further drive adoption, positioning electric heavy trucks as a viable alternative for efficient, eco-friendly transportation.

• Gasoline
• Diesel
• Electric
• Alternative Fuels

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

Author's Conclusion