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Heavy Trucks Global Market Report 2024

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    Report

  • 175 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5735247

Quick Summary:

As we navigate an evolving global landscape, understanding the trajectory of vital industries like the heavy trucks market is pivotal for strategic decision-making. This comprehensive market research report provides meticulous insights into the burgeoning heavy trucks industry, offering a holistic understanding of its dynamics while reflecting present and future scenarios.

From sales of 18-wheeler truck, refrigerator truck, dump truck, garbage truck, logging truck, concrete transport truck, tractor unit, and tanker truck, to detailed segmentation by class and fuel type, the report encapsulates key facets of the market. It analyses the factors driving demand, the disruptive impact of COVID-19, and significant trends such as the incorporation of advanced driver-assistive technologies. With an emphasis on 'factory gate' values rather than resale revenues, the obtained data is precise, enabling you to craft well-informed strategies. Leverage this report to gain a competitive edge in the heavy trucks market.

The heavy trucks market size has grown strongly in recent years. It will grow from $217.23 billion in 2023 to $228.49 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth observed in the historic period can be credited to several factors, including industrialization and economic expansion, substantial infrastructure development, alterations in safety regulations, increased demand due to world wars and military needs, as well as the expansion of global trade.

The heavy trucks market size is expected to see strong growth in the next few years. It will grow to $282.26 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. Forecasted growth is fueled by electrification advancements, emission-related regulations, autonomous trucking evolution, digital fleet management, and increased last-mile delivery demands. Anticipated trends include electric heavy trucks, autonomous trucking tech, telematics, alternative fuels, and advanced safety features.

The growth in demand for heavy trucks, particularly from sectors such as construction, mining, and others, is a key driver contributing to the expansion of the heavy trucks market. Executives from leading truck manufacturers have noted that an upswing in construction activities has positively impacted the sales of heavy vehicles, including tipper trucks and concrete mixers. In 2021, the American Trucking Association reported that the revenue of the trucking industry reached $875.5 billion. Furthermore, as of June 2021, there were approximately 4.06 million Class 8 trucks in operation, reflecting a 2.3% increase from the previous year. The anticipated rise in demand from end-users is expected to be a significant factor propelling the growth of the heavy trucks market in the forecast period.

The heavy trucks market is also poised for growth due to increasing regulations on vehicle emissions. These regulations, imposed by governments, set specific standards and requirements that dictate the maximum allowable levels of pollutants and greenhouse gases emitted by vehicles into the environment. Stringent emissions regulations drive manufacturers to develop environmentally friendly and compliant models. Such regulations also incentivize end-users to replace older trucks, creating a demand for new, sustainable heavy trucks that align with emissions standards, sustainability goals, and contribute to reducing carbon footprints. An illustrative example is the United States Environmental Protection Agency's (EPA) announcement in December 2022, finalizing the new rule on heavy-duty vehicles as part of the Clean Trucks Plan. This rule implements the most robust national clean air standards, aiming to reduce emissions from heavy-duty vehicles starting from the 2027 model year, with a focus on protecting public health and accelerating the transition to low-carbon and electric technologies. Consequently, the increasing emphasis on vehicle emissions regulations stands as a significant driver for the growth of the heavy trucks market.

The global COVID-19 outbreak has exerted a substantial impact on both the production and demand for heavy trucks, thereby presenting a restraining factor for the heavy trucks market during the forecast period. The pandemic prompted widespread and stringent containment measures, including social distancing protocols, remote working arrangements, and the temporary closure of numerous manufacturing units to curb the spread of the disease. These lockdown measures have resulted in disruptive effects on supply chains across various industries, particularly impacting the manufacturing of heavy trucks. S&P Global Inc., a financial information and analytics company, has highlighted the repercussions of the pandemic on the heavy-duty truck market. Global sales of heavy-duty trucks were anticipated to decline by 20% to 30% in 2020, reflecting the profound impact of COVID-19. Additionally, the recovery in sales, originally projected for 2021, is expected to face a delay of 10%. The widespread disruptions caused by the pandemic, encompassing both production and sales aspects, underscore the considerable negative influence of the COVID-19 outbreak on the growth trajectory of the heavy trucks market.

A noteworthy trend in the heavy trucks market is the integration of advanced driver-assistive technologies and safety features in vehicles. These technologies, including the Collision Mitigation System (CMS) and Lane Departure Warning System (LDWS), are aimed at reducing road accidents and enhancing overall vehicle safety. In 2022, Tata Motors, an Indian-based commercial vehicle manufacturer, took a pioneering step by introducing India’s first CNG-powered medium and heavy commercial vehicle truck. Alongside this, Tata Motors equipped its best-selling range of trucks, including the Prima, Signa, and Ultra models, with a new-age Advanced Driver Assistance System (ADAS). This system incorporates features such as a collision mitigation system, lane departure warning system, and driver monitoring system, contributing to improved driving comfort and safety.

Major players in the heavy trucks market are strategically investing in the development of electric trucks to gain a competitive edge. Electric truck development involves the design, engineering, and manufacturing of trucks powered by electricity, typically utilizing battery-electric or hydrogen fuel cell technology. Volvo Trucks, a Sweden-based motor vehicle manufacturing company, exemplifies this trend with the launch of an enhanced version of its Volvo VNR Electric in January 2022. This heavy-duty electric truck, designed for North America, boasts an extended range of up to 440 kilometers (275 miles) on a single charge - a notable 85% increase compared to the previous version. The improved range is attributed to advancements in battery design and the introduction of a new six-battery package. Moreover, the truck features a 250kW charging capability, enabling an 80% charge in 90 minutes for the six-battery configuration and 60 minutes for the four-battery version. This strategic emphasis on electric truck development underscores the industry's commitment to sustainability and aligning with the growing demand for eco-friendly transportation solutions.

In April 2021, Battle Motors, a U.S.-based company specializing in electric vehicles (EV), acquired Crane Carrier Company LLC, a manufacturer of construction trucks and garbage truck chassis, for an undisclosed sum. This strategic acquisition is poised to assist Battle Motors in advancing the electrification of Class 7 and 8 vocational trucks. Crane Carrier Company (CCC), the acquired entity, is based in the U.S. and is known for its expertise in manufacturing purpose-built Class 7 and 8 severe-duty trucks.

Major companies operating in the heavy trucks market report are Volkswagen AG, Kamaz Inc., Ford Motor Company, Ram Trucks, China National Heavy Duty Truck Group Co. Ltd., Daimler Truck AG, Traton SE, Volvo Group, Paccar Inc., Isuzu Motors Limited, Tata Motors Limited, Dongfeng Motor Corporation, Iveco S.p.A., Hino Motors Ltd., Sinotruk Hong Kong Limited, Oshkosh Corporation, Navistar International Corporation, Fuso Truck and Bus Corporation, Ashok Leyland Limited, Mack Trucks Inc., Eicher Motors Limited, Kenworth Truck Company, Peterbilt Motors Company, Sterling Trucks Corporation, Western Star Trucks Sales Inc., UD Trucks Corporation, Freightliner Trucks, MAN SE, Scania AB, First Automotive Works Ltd. North America was the largest region in the heavy trucks market in 2023. Asia-Pacific was the second-largest region in the heavy trucks market share. The regions covered in the heavy trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Primary types in this market include class 5, class 6, class 7, and class 8 trucks. Class 8 trucks specifically denote commercially used vehicles with substantial load capacity. Various fuel types such as diesel, natural gas, hybrid electric, and gasoline power these trucks, utilized across construction, mining, freight and logistics, and other industrial applications.

The heavy trucks market research report is one of a series of new reports that provides heavy trucks market statistics, including heavy truck industry global market size, regional shares, competitors with a heavy trucks market share, detailed heavy trucks market segments, market trends and opportunities, and any further data you may need to thrive in the heavy truck industry. This heavy trucks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The countries covered in the heavy trucks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The heavy trucks market consists of sales of 18-wheeler truck, refrigerator truck, dump truck, garbage truck, logging truck, concrete transport truck, tractor unit and tanker truck. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Frequently Asked Questions about the Global Heavy Trucks Market

What is the estimated value of the Global Heavy Trucks Market?

The Global Heavy Trucks Market was estimated to be valued at $228.49 Billion in 2024.

What is the growth rate of the Global Heavy Trucks Market?

The growth rate of the Global Heavy Trucks Market is 5.4%, with an estimated value of $282.26 Billion by 2028.

What is the forecasted size of the Global Heavy Trucks Market?

The Global Heavy Trucks Market is estimated to be worth $282.26 Billion by 2028.

Who are the key companies in the Global Heavy Trucks Market?

Key companies in the Global Heavy Trucks Market include Johnson & Johnson, Procter & Gamble Company, Unilever plc, L'Oréal SA, Henkel AG & Co. KGaA., Colgate, Palmolive Company., Estée Lauder Companies Inc., Kao Corporation and Beiersdorf Ag.

Table of Contents

1. Executive Summary2. Heavy Trucks Market Characteristics3. Heavy Trucks Market Trends and Strategies
4. Heavy Trucks Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Heavy Trucks Market Size and Growth
5.1. Global Heavy Trucks Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Heavy Trucks Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Heavy Trucks Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Heavy Trucks Market Segmentation
6.1. Global Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Class 5
  • Class 6
  • Class 7
  • Class 8
6.2. Global Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Diesel
  • Natural Gas
  • Hybrid Electric
  • Gasoline
6.3. Global Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Construction and Mining
  • Freight and Logistics
  • Other Applications
7. Heavy Trucks Market Regional and Country Analysis
7.1. Global Heavy Trucks Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Heavy Trucks Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Heavy Trucks Market
8.1. Asia-Pacific Heavy Trucks Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Heavy Trucks Market
9.1. China Heavy Trucks Market Overview
9.2. China Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Heavy Trucks Market
10.1. India Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Heavy Trucks Market
11.1. Japan Heavy Trucks Market Overview
11.2. Japan Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Heavy Trucks Market
12.1. Australia Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Heavy Trucks Market
13.1. Indonesia Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Heavy Trucks Market
14.1. South Korea Heavy Trucks Market Overview
14.2. South Korea Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Heavy Trucks Market
15.1. Western Europe Heavy Trucks Market Overview
15.2. Western Europe Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Heavy Trucks Market
16.1. UK Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Heavy Trucks Market
17.1. Germany Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Heavy Trucks Market
18.1. France Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Heavy Trucks Market
19.1. Italy Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Heavy Trucks Market
20.1. Spain Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Heavy Trucks Market
21.1. Eastern Europe Heavy Trucks Market Overview
21.2. Eastern Europe Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Heavy Trucks Market
22.1. Russia Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Heavy Trucks Market
23.1. North America Heavy Trucks Market Overview
23.2. North America Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Heavy Trucks Market
24.1. USA Heavy Trucks Market Overview
24.2. USA Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Heavy Trucks Market
25.1. Canada Heavy Trucks Market Overview
25.2. Canada Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Heavy Trucks Market
26.1. South America Heavy Trucks Market Overview
26.2. South America Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Heavy Trucks Market
27.1. Brazil Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Heavy Trucks Market
28.1. Middle East Heavy Trucks Market Overview
28.2. Middle East Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Heavy Trucks Market
29.1. Africa Heavy Trucks Market Overview
29.2. Africa Heavy Trucks Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Heavy Trucks Market, Segmentation by Fuel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Heavy Trucks Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Heavy Trucks Market Competitive Landscape and Company Profiles
30.1. Heavy Trucks Market Competitive Landscape
30.2. Heavy Trucks Market Company Profiles
30.2.1. Volkswagen AG
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. Kamaz Inc.
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Ford Motor Company
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. Ram Trucks
30.2.4.1. Overview
30.2.4.2. Products and Services
30.2.4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. China National Heavy Duty Truck Group Co. Ltd.
30.2.5.1. Overview
30.2.5.2. Products and Services
30.2.5.3. Strategy
30.2.5.4. Financial Performance
31. Heavy Trucks Market Other Major and Innovative Companies
31.1. Daimler Truck AG
31.2. Traton SE
31.3. Volvo Group
31.4. Paccar Inc.
31.5. Isuzu Motors Limited
31.6. Tata Motors Limited
31.7. Dongfeng Motor Corporation
31.8. Iveco S.p.A.
31.9. Hino Motors Ltd.
31.10. Sinotruk Hong Kong Limited
31.11. Oshkosh Corporation
31.12. Navistar International Corporation
31.13. Fuso Truck and Bus Corporation
31.14. Ashok Leyland Limited
31.15. Mack Trucks Inc.
32. Global Heavy Trucks Market Competitive Benchmarking33. Global Heavy Trucks Market Competitive Dashboard34. Key Mergers and Acquisitions in the Heavy Trucks Market
35. Heavy Trucks Market Future Outlook and Potential Analysis
35.1 Heavy Trucks Market in 2028 - Countries Offering Most New Opportunities
35.2 Heavy Trucks Market in 2028 - Segments Offering Most New Opportunities
35.3 Heavy Trucks Market in 2028 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Heavy Trucks Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on heavy trucks market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for heavy trucks? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Type: Class 5; Class 6; Class 7; Class 8
2) By Fuel: Diesel; Natural Gas; Hybrid Electric; Gasoline
3) By Application: Construction and Mining; Freight and Logistics; Other Applications

Key Companies Mentioned: Volkswagen AG; Kamaz Inc.; Ford Motor Company; Ram Trucks; China National Heavy Duty Truck Group Co. Ltd.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Volkswagen AG
  • Kamaz Inc.
  • Ford Motor Company
  • Ram Trucks
  • China National Heavy Duty Truck Group Co. Ltd.
  • Daimler Truck AG
  • Traton SE
  • Volvo Group
  • Paccar Inc.
  • Isuzu Motors Limited
  • Tata Motors Limited
  • Dongfeng Motor Corporation
  • Iveco S.p.A.
  • Hino Motors Ltd.
  • Sinotruk Hong Kong Limited
  • Oshkosh Corporation
  • Navistar International Corporation
  • Fuso Truck and Bus Corporation
  • Ashok Leyland Limited
  • Mack Trucks Inc.
  • Eicher Motors Limited
  • Kenworth Truck Company
  • Peterbilt Motors Company
  • Sterling Trucks Corporation
  • Western Star Trucks Sales Inc.
  • UD Trucks Corporation
  • Freightliner Trucks
  • MAN SE
  • Scania AB
  • First Automotive Works Ltd.

Methodology

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