Medium-duty Truck Market Size

Medium-duty Truck Market size was USD 54.8 billion in 2024 and is estimated to reach USD 115.3 billion by the end of 2037, expanding at a CAGR of 5.9% during the forecast period, i.e., 2025-2037. In 2025, the industry size of medium-duty trucks is estimated at USD 58 billion.

The global medium-duty truck market is expanding at a healthy pace and is expected to exhibit the same growth during the projected period. One of the significant trends augmenting the demand for medium-duty trucks is the boom in the e-commerce sector. Medium-duty trucks have a high payload capacity and are prime logistic vehicles for transporting high delivery volumes. Also, as medium-duty trucks can transport larger quantities of products/goods effectively, many e-commerce businesses find no to less need for heavy-duty vehicles.

The U.S. commercial truck sales totaled over 381,000 units during the first three quarters, with a dip in heavy-duty truck sales and falling short of 203,000 units as compared to Q1 to Q3 2023. However, medium-duty truck sales were up by 0.9% YTD, accounting for 178,000 units in the 2024 first three quarters. The Fed announced the reduction of 50 basis points to the federal funds rate, allowing the interest rates to slump across the economy. The lower interest rates are expected to be a tailwind for medium-duty truck sales and freight hauling in 2025, particularly in both residential and commercial construction sectors.

Considering this trend, many manufacturers are launching high-performance medium-duty trucks to earn high profits. The Ford Motor Company is one of the top manufacturers of medium-duty trucks, accounting for over 30% market share and its F-650 & F-750 Models are gaining boom in the marketplace. For instance, in April 2022, Ford F-650 & F-750 Models received the Work Truck’s Medium-Duty Truck of the Year for 2022 award. The prime reasons that supported these Ford models in achieving the award are their high performance, durability, maintenance, servicing, quality, and effectiveness. From this, it can be understood that the development of medium-duty trucks with advanced features is not only boosting their capabilities but also contributing to sales growth.