Heavy Duty Trucks Market Analysis

Truck Class (Class-6, Class-7, Class-8)

Class-8 segment is estimated to dominate over 56% heavy duty trucks market share by 2037. This segment will extend the total revenue size to 2 million by the end of 2037. Increasing demand for commercial fleet trucks because of their efficiency and high capacity for loading will drive the market to grow completely.

Global commercial vehicle manufacturing increased to about 24 million units in 2022, extending the gradual rebound from the three million unit decline in 2020. All motor vehicles meant for the commercial transportation of passengers and commodities are considered commercial vehicles; light commercial vehicles are often defined as those weighing less than 3.5 tons.

Fuel (Diesel, Natural Gas, Gasoline, Hybrid, Electric, Fuel Cell)

By 2037, diesel segment is poised to dominate over 60% heavy duty trucks market share. This segment will witness sales of around 3 million by the end of the forecast period. The rising sales of diesel-based heavy duty trucks will drive the industry massively.

Moreover, as stated by the European Automobiles Manufacturers’ Association, overall, new diesel trucks registered in the EU1 increased by 3.7% in 2022, but at a slower rate than in the year before. A total of 274,058 units were sold throughout the EU, with Central Europe making up a sizable portion of the region's sales.

Horsepower (Below 300 HP, 300 to 400 HP, 400 to 500 HP, Above 500 HP)

In heavy duty trucks market, 400 to 500 HP segment is anticipated to dominate over 45% revenue share by 2037. This segment is projected to register over 7% by the end of 2037. Rising demand for 400 to 500 HP heavy duty trucks was propelled by the constant rise in the speed limits on the interstate and non-interstate highways.

According to the U.S. Department of Energy by 2050, this sector is set to increase to 24.7% of the total energy used for transportation, while the energy used by light-duty (LD) vehicles is foreseen to decrease by 29% to 41.3% of the total during the same period.

Our in-depth analysis of the global market includes the following segments:

Weight Limit	8000-11000 Kg 11000-15000 Kg 15000 Kg & Above
Truck Class	Class-6 Class-7 Class-8
Application	Construction & Mining Freight & Logistics
Fuel	Diesel Natural Gas Gasoline Hybrid Electric Fuel Cell
Horsepower	Below 300 HP 300 to 400 HP 400 to 500 HP Above 500 HP
Truck	Box\Cab Dumb Flatbed Tractors\Haulers Refrigerated Trucks

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of heavy duty trucks is evaluated at USD 232.11 billion.

The heavy duty trucks market size was over USD 218.64 billion in 2024 and is poised to exceed USD 573.5 billion by 2037, growing at over 7.7% CAGR during the forecast period i.e., between 2025-2037. The market growth is propelled by rising demand for tough vehicles with high transportation capability globally.

Asia Pacific industry is set to hold largest revenue share of 60% by 2037, influenced by expansion of population in this region which in turn requires these heavy duty trucks for different uses.

The major players in the market are Oshkosh Corporation, Mack Trucks, Navistar, Kenworth, Tesla Motors, Volkswagen Inc., Ford Motor Company, Volvo Trucks, Hyundai Motor, IVECO, Hino Motors, Mitsubishi Fuso Truck and Bus Corporation, Isuzu Motors Ltd, Daihatsu Motor Co., Ltd., Suzuki Motor Corporation, and others.

Heavy Duty Trucks Market Analysis