Heavy-Duty Trucks Market Size

Global Heavy-duty Trucks Market size was valued at USD 195.17 Billion in 2023 and is poised to grow from USD 212.6 Billion in 2024 to USD 399.38 Billion by 2032, growing at a CAGR of 8.2% during the forecast period (2025-2032).

Heavy-duty truck manufacturers should focus on improving the versatility and fuel efficiency of their products to stand out from the competition. Developing and providing vehicles powered by batteries and hydrogen can also help companies comply with rising emphasis on sustainability. Targeting the freight transportation industry can offer lucrative returns for all companies as per global heavy-duty trucks market analysis. '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'

Rapidly increasing demand for goods and products around the world on the back of e-commerce expansion is bolstering the demand for freight transportation solutions. Heavy-duty trucks play a crucial role in freight transportation, enabling the efficient movement of goods across long distances as supply chain networks expand to accommodate rising consumer demands.

Emphasis on Reducing Emissions: heavy-duty truck manufacturers should invest in the development of battery-electric and hydrogen fuel-cell heavy-duty trucks to reduce emissions from the trucking industry. Imposition of stringent emission control mandates and availability of government incentives for electrification are making this indispensable heavy -duty trucks market trend for all companies through 2032.

The North American region is estimated to lead the global heavy-duty trucks industry over the coming years. The presence of a developed road network, innovations in heavy-duty trucks design, and presence of massive long-haul fleets are helping this region bring in the most revenue. Canada and the United States are slated to emerge as the most opportune markets in the North American region going forward. The presence of leading heavy-duty trucks manufacturers and increasing use of heavy-duty trucks in military and defense applications are also slated to cement the dominance of this region across the forecast period and beyond.