by The global Heavy duty trucks market size was estimated to be around US$ 196.55 billion in 2023 and is projected to reach US$ 399.50 billion by 2032, indicating a CAGR of 8.20% from 2023 to 2032.
Key Takeaways
- North America contributed more than 38% of revenue share in 2022.
- Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- By tonnage type, the 10 to 15 tons segment has held the largest market share of 62% in 2022.
- By tonnage type, the more than 15 tons segment is anticipated to grow at a remarkable CAGR of 12.8% between 2023 and 2032.
- By class, the class 6 segment generated over 41% of revenue share in 2022.
- By class, the class 7 segment is expected to expand at the fastest CAGR over the projected period.
- By fuel type, the diesel segment had the largest market share of 69% in 2022.
- By fuel type, the electric segment is expected to expand at the fastest CAGR over the projected period.
- By application, the construction and mining segment generated over 52% of revenue share in 2022.
- By application, the freight and logistics segment is expected to expand at the fastest CAGR over the projected period.
The market research report on the Heavy duty trucks market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of Heavy duty trucks products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.
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Heavy Duty Trucks Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 8.20% |
| Market Size in 2023 | USD 196.55 Billion |
| Market Size by 2032 | USD 399.50 Billion |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Tonnage Type, By Class, By Fuel Type, and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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The report presents the volume and value-based market size for the base year 2022 and forecasts the market’s growth between 2023 and 2032. It estimates market numbers based on product form and application, providing size and forecast for each application segment in both global and regional markets.
Focusing on the global Heavy duty trucks market, the report highlights its status, future forecasts, growth opportunities, key market players, and key market regions such as the United States, Europe, and China. The study aims to present the development of the Heavy duty trucks market by considering factors like Year-on-Year (Y-o-Y) growth, in addition to Compound Annual Growth Rate (CAGR). This approach enables a better understanding of market certainty and the identification of lucrative opportunities.
Regarding production, the report investigates the capacity, production, value, ex-factory price, growth rate, and market share of major manufacturers, regions, and product types. On the consumption side, the report focuses on the regional consumption of Heavy duty trucks products across different countries and applications.
Buyers of the report gain access to verified market figures, including global market size in terms of revenue and volume. The report provides reliable estimations and calculations for global revenue and volume by product type from 2023 to 2032. It also includes accurate figures for production capacity and production by region during the same period.
The research includes product parameters, production processes, cost structures, and data classified by region, technology, and application. Furthermore, it conducts SWOT analysis and investment feasibility studies for new projects.
This in-depth research report offers valuable insights into the Heavy duty trucks market. It employs an objective and fair approach to analyze industry trends, supporting customer competition analysis, development planning, and investment decision-making. The project received support and assistance from technicians and marketing personnel across various links in the industry chain.
The competitive landscape section of the report provides detailed information on Heavy duty trucks market competitors. It includes company overviews, financials, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites, production capacities, strengths and weaknesses, product launches, product range, and application dominance. However, the data points provided only focus on the companies’ activities related to the Heavy duty trucks market.
Prominent players in the market are expected to face tough competition from new entrants. Key players are targeting acquisitions of startup companies to maintain their dominance. The report
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Heavy Duty Trucks Market Players
- 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
Segments Covered in the Report
By Tonnage Type
- 10 to 15 tons
- more than 15 tons
By Class
- Class 5
- Class 6
- Class 7
- Class 8
By Fuel Type
- Gasoline
- Diesel
- Electric
- Alternative Fuels
By Application
- Construction and Mining
- Freight and Logistics
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Heavy Duty Trucks Market
5.1. COVID-19 Landscape: Heavy Duty Trucks Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Heavy Duty Trucks Market, By Tonnage Type
8.1. Heavy Duty Trucks Market Revenue and Volume Forecast, by Tonnage Type, 2023-2032
8.1.1. 10 to 15 tons
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. more than 15 tons
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Heavy Duty Trucks Market, By Class
9.1. Heavy Duty Trucks Market Revenue and Volume Forecast, by Class, 2023-2032
9.1.1. Class 5
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Class 6
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Class 7
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. Class 8
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Heavy Duty Trucks Market, By Fuel Type
10.1. Heavy Duty Trucks Market Revenue and Volume Forecast, by Fuel Type, 2023-2032
10.1.1. Gasoline
10.1.1.1. Market Revenue and Volume Forecast (2020-2032)
10.1.2. Diesel
10.1.2.1. Market Revenue and Volume Forecast (2020-2032)
10.1.3. Electric
10.1.3.1. Market Revenue and Volume Forecast (2020-2032)
10.1.4. Alternative Fuels
10.1.4.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 11. Global Heavy Duty Trucks Market, By Application
11.1. Heavy Duty Trucks Market Revenue and Volume Forecast, by Application, 2023-2032
11.1.1. Construction and Mining
11.1.1.1. Market Revenue and Volume Forecast (2020-2032)
11.1.2. Freight and Logistics
11.1.2.1. Market Revenue and Volume Forecast (2020-2032)
11.1.3. Others
11.1.3.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 12. Global Heavy Duty Trucks Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.1.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.1.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.1.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.1.5.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.1.5.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.1.5.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.1.6.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.1.6.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.1.6.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.2.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.2.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.2.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.2.5.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.2.5.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.2.5.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.2.6.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.2.6.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.2.6.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.2.7.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.2.7.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.2.7.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.2.8.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.2.8.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.2.8.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.3.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.3.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.3.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.3.5.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.3.5.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.3.5.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.3.6.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.3.6.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.3.6.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.3.7.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.3.7.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.3.7.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.3.8.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.3.8.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.3.8.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.4.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.4.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.4.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.4.5.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.4.5.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.4.5.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.4.6.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.4.6.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.4.6.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.4.7.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.4.7.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.4.7.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.4.8.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.4.8.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.4.8.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.5.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.5.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.5.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.5.5.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.5.5.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.5.5.4. Market Revenue and Volume Forecast, by Application (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Volume Forecast, by Tonnage Type (2020-2032)
12.5.6.2. Market Revenue and Volume Forecast, by Class (2020-2032)
12.5.6.3. Market Revenue and Volume Forecast, by Fuel Type (2020-2032)
12.5.6.4. Market Revenue and Volume Forecast, by Application (2020-2032)
Chapter 13. Company Profiles
13.1. Daimler AG
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Volvo Group
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. PACCAR Inc
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Navistar International Corporation
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. MAN SE
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Scania AB
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Iveco S.p.A.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Hino Motors, Ltd.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Isuzu Motors Ltd.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Kenworth Truck Company
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
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