by The heavy duty trucks market size is poised to grow by USD 399.50 billion by 2032 from USD 196.55 billion in 2023, exhibiting a CAGR of 8.20% during the forecast period 2023-2032.
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.
Precedence Research has conducted a comprehensive market study that provides valuable insights into the performance of the market during the forecast period. The study identifies significant trends that are shaping the growth of the Heavy duty trucks market. In this recently published report, essential dynamics such as drivers, restraints, and opportunities are highlighted for both established market players and emerging participants involved in production and supply.
To begin with, the Heavy duty trucks Market report features an executive summary that offers a concise overview of the marketplace. It outlines the key players and industry categories expected to have an impact on the market in the coming years. The executive summary provides an unbiased summary of the market.
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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 empirical study on the global Heavy duty trucks market primarily focuses on the drivers in subsequent sections. It demonstrates how changing demographics are projected to influence the supply and demand dynamics in the Heavy duty trucks Market. Our market report for the Heavy duty trucks market also delves into the significant rules and regulations that are likely to impact the future growth of this sector. Moreover, in order to comprehend the underlying demand factors, industry experts have provided insights into its fundamental origins.
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
Data Sources and Methodology
To gather comprehensive insights on the Global Heavy duty trucks Market, we relied on a range of data sources and followed a well-defined methodology. Our approach involved interactions with industry experts and key stakeholders across the market’s value chain, including management organizations, processing organizations, and analytics service providers.
We followed a rigorous data analysis process to ensure the quality and credibility of our research. The gathered information was carefully evaluated, and relevant quantitative data was subjected to statistical analysis. By employing robust analytical techniques, we were able to derive meaningful insights and present a comprehensive overview of the Global Heavy duty trucks Market.
The most resonating, simple, genuine, and important causes because of which you must decide to buy the Heavy duty trucks market report exclusively from precedence research
- The research report has been meticulously crafted to provide comprehensive knowledge on essential marketing strategies and a holistic understanding of crucial marketing plans spanning the forecasted period from 2023 to 2032.
Key Features of the Report:
- Comprehensive Coverage: The report extensively encompasses a detailed explanation of highly effective analytical marketing methods applicable to companies across all industry sectors.
- Decision-Making Enhancement: It outlines a concise overview of the decision-making process while highlighting key techniques to enhance it, ensuring favorable business outcomes in the future.
- Articulated R&D Approach: The report presents a well-defined approach to conducting research and development (R&D) activities, enabling accurate data acquisition on current and future marketing conditions.
Market Segmentation:
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
Reasons to Consider Purchasing the Report:
- Enhance your market research capabilities by accessing this comprehensive and precise report on the global Heavy duty trucks market.
- Gain a thorough understanding of the overall market landscape and be prepared to overcome challenges while ensuring robust growth.
- Benefit from in-depth research and analysis of the latest trends shaping the global Heavy duty trucks market.
- Obtain detailed insights into evolving market trends, current and future technologies, and strategic approaches employed by key players in the global Heavy duty trucks market.
- Receive valuable recommendations and guidance for both new entrants and established players seeking further market expansion.
- Discover not only the cutting-edge technological advancements in the global Heavy duty trucks market but also the strategic plans of industry leaders.
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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