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Heavy Duty Truck Market by Tonnage Type, Propulsion, Application, Axle Type, Truck Type: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 335 Pages
  • December 2022
  • Region: Global
  • Allied Market Research
  • ID: 5743616
The report incorporates the study of the global heavy duty truck market that focuses on the commercial vehicles that are an integral part of any commercial activities such as transportation, agriculture, construction, and many other functions. The heavy duty trucks are used to transport heavy loads that cannot be transported by the ordinary load-carrying capacity trucks. These vehicles are specially designed to carry heavy loads and transport these loads from one place to another. These vehicles are generally employed in urban and suburban areas. Heavy-duty trucks are heavier than medium-duty trucks. Their weight ranges from 26001 lbs to over 33000 lbs (11794 kg to over 14969 kg).

At present, government’s focus on reducing the carbon footprints and transport & logistics aim to achieve carbon neutral operation are encouraging OEMs to develop zero-emission high-performance trucks. The participants are establishing strategic partnerships to invent new technologies to minimize the carbon emission and to improve their market value. Thus, with the shifting preferences of customers, development of charging infrastructure, availability of fast-charging station and the subsidiary benefits on electric vehicles over conventional internal combustion engine trucks, the demand for electric trucks for freight operation is expected to grow, and the market may experience an exponential upward trajectory during the projection period. For instance, in March 2022, the three leading commercial vehicle manufacturers the TRATON GROUP, Daimler Truck, and Volvo Group signed a binding agreement to create a joint venture (JV) to install and operate a high-performance public charging network for battery electric, heavy-duty long-haul trucks and coaches across Europe.

The market for heavy duty trucks is expanding in part due to reasons such as high payload capacity, increased credit availability, financing choices, and improved road infrastructure. In August 2022, Ashok Leyland’s authorized distributors, Deluxe Trucks categories ranging from 2.55 Ton GVW to 55 Ton GVW and Bus in Kenya signed a partnership with Kenya Commercial Bank to jointly promote the Ashok Leyland brand of vehicles. Additionally, the growing need for transportation options in rural and semi-urban areas as well as the development of heavy duty truck technology open up new market potential for the major players in the industry.

However, rising fuel prices and high truck maintenance costs and increasing carbon emissions from diesel fuel combustion are the factors that are expected to hinder the growth of the heavy-duty truck market. For instance, the U.S. Energy Information Administration (EIA) estimates that in 2020, diesel (distillate) fuel consumption in the U.S. transportation sector resulted in the emission of about 432 million metric tons of carbon dioxide (CO2), a greenhouse gas. This amount was equal to about 26% of total U.S. transportation sector CO2 emissions and equal to about 9% of total U.S. energy-related CO2 emissions in 2020.

For the purpose of analysis, the global heavy duty truck market is segmented on the basis of tonnage type, propulsion, application, truck type, axle type, and region. By tonnage type, the market is divided into 10 to 15 metric ton and more than 15 metric ton. By propulsion, it is fragmented into internal combustion engine (ICE), electric, and fuel cell electric vehicle (FCEV). By application, it is categorized into construction and mining, freight and logistics, long haul, and other. By truck type, it is categorized into rigid, articulated, and others. By axle type, it is fragmented into 4X2, 6X4, 6X2, 6X6, 8X6, 8X8, and Others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The leading players operating in the heavy duty truck market are Ashok Leylands, Isuzu Motors Limited, TATA Motors, Scania, AB Volvo, Freightliner, MAN, PACCAR Inc., Eicher Motors Ltd, NAVISTAR, INC., China National Heavy Duty Truck Group Co., Ltd, and Dongfeng Commercial Vehicle Company Limited.

Key Benefits For Stakeholders

  • This study presents analytical depiction of the global heavy duty truck market analysis along with current trends and future estimations to depict imminent investment pockets.
  • The overall heavy duty truck market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global heavy duty truck market with a detailed impact analysis.
  • The current heavy duty truck market is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

By Truck Type

  • Rigid
  • Articulated
  • Others

By Tonnage type

  • 10 to 15 metric ton
  • More than 15 metric ton

By Propulsion

  • IC Engine
  • Electric
  • FCEV

By Application

  • Construction and Mining
  • Freight and Logistics
  • Long Haul
  • Other

By Axle Type

  • 4x2
  • 6x4
  • 6x2
  • 6x6
  • 8x6
  • 8x8
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • PACCAR Inc.
  • Isuzu Motors Limited
  • Eicher Motors Ltd
  • Tata Motors
  • Ashok Leyland
  • NAVISTAR, INC.
  • China National Heavy Duty Truck Group Co., Ltd
  • freightliner
  • Scania
  • MAN
  • Dongfeng Commercial Vehicle Company Limited
  • AB Volvo

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market

CHAPTER 4: HEAVY DUTY TRUCK MARKET, BY TONNAGE TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 10 to 15 metric ton
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 More than 15 metric ton
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country

CHAPTER 5: HEAVY DUTY TRUCK MARKET, BY PROPULSION
5.1 Overview
5.1.1 Market size and forecast
5.2 IC Engine
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Electric
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4 FCEV
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country

CHAPTER 6: HEAVY DUTY TRUCK MARKET, BY APPLICATION
6.1 Overview
6.1.1 Market size and forecast
6.2 Construction and Mining
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 Freight and Logistics
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
6.4 Long Haul
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market share analysis by country
6.5 Other
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market share analysis by country

CHAPTER 7: HEAVY DUTY TRUCK MARKET, BY AXLE TYPE
7.1 Overview
7.1.1 Market size and forecast
7.2 4x2
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market share analysis by country
7.3 6x4
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market share analysis by country
7.4 6x2
7.4.1 Key market trends, growth factors and opportunities
7.4.2 Market size and forecast, by region
7.4.3 Market share analysis by country
7.5 6x6
7.5.1 Key market trends, growth factors and opportunities
7.5.2 Market size and forecast, by region
7.5.3 Market share analysis by country
7.6 8x6
7.6.1 Key market trends, growth factors and opportunities
7.6.2 Market size and forecast, by region
7.6.3 Market share analysis by country
7.7 8x8
7.7.1 Key market trends, growth factors and opportunities
7.7.2 Market size and forecast, by region
7.7.3 Market share analysis by country
7.8 Others
7.8.1 Key market trends, growth factors and opportunities
7.8.2 Market size and forecast, by region
7.8.3 Market share analysis by country

CHAPTER 8: HEAVY DUTY TRUCK MARKET, BY TRUCK TYPE
8.1 Overview
8.1.1 Market size and forecast
8.2 Rigid
8.2.1 Key market trends, growth factors and opportunities
8.2.2 Market size and forecast, by region
8.2.3 Market share analysis by country
8.3 Articulated
8.3.1 Key market trends, growth factors and opportunities
8.3.2 Market size and forecast, by region
8.3.3 Market share analysis by country
8.4 Others
8.4.1 Key market trends, growth factors and opportunities
8.4.2 Market size and forecast, by region
8.4.3 Market share analysis by country

CHAPTER 9: HEAVY DUTY TRUCK MARKET, BY REGION
9.1 Overview
9.1.1 Market size and forecast
9.2 North America
9.2.1 Key trends and opportunities
9.2.2 North America Market size and forecast, by Tonnage type
9.2.3 North America Market size and forecast, by Propulsion
9.2.4 North America Market size and forecast, by Application
9.2.5 North America Market size and forecast, by Axle Type
9.2.6 North America Market size and forecast, by Truck Type
9.2.7 North America Market size and forecast, by country
9.2.7.1 U.S.
9.2.7.1.1 Key market trends, growth factors and opportunities
9.2.7.1.2 Market size and forecast, by Tonnage type
9.2.7.1.3 Market size and forecast, by Propulsion
9.2.7.1.4 Market size and forecast, by Application
9.2.7.1.5 Market size and forecast, by Axle Type
9.2.7.1.6 Market size and forecast, by Truck Type
9.2.7.2 Canada
9.2.7.2.1 Key market trends, growth factors and opportunities
9.2.7.2.2 Market size and forecast, by Tonnage type
9.2.7.2.3 Market size and forecast, by Propulsion
9.2.7.2.4 Market size and forecast, by Application
9.2.7.2.5 Market size and forecast, by Axle Type
9.2.7.2.6 Market size and forecast, by Truck Type
9.2.7.3 Mexico
9.2.7.3.1 Key market trends, growth factors and opportunities
9.2.7.3.2 Market size and forecast, by Tonnage type
9.2.7.3.3 Market size and forecast, by Propulsion
9.2.7.3.4 Market size and forecast, by Application
9.2.7.3.5 Market size and forecast, by Axle Type
9.2.7.3.6 Market size and forecast, by Truck Type
9.3 Europe
9.3.1 Key trends and opportunities
9.3.2 Europe Market size and forecast, by Tonnage type
9.3.3 Europe Market size and forecast, by Propulsion
9.3.4 Europe Market size and forecast, by Application
9.3.5 Europe Market size and forecast, by Axle Type
9.3.6 Europe Market size and forecast, by Truck Type
9.3.7 Europe Market size and forecast, by country
9.3.7.1 France
9.3.7.1.1 Key market trends, growth factors and opportunities
9.3.7.1.2 Market size and forecast, by Tonnage type
9.3.7.1.3 Market size and forecast, by Propulsion
9.3.7.1.4 Market size and forecast, by Application
9.3.7.1.5 Market size and forecast, by Axle Type
9.3.7.1.6 Market size and forecast, by Truck Type
9.3.7.2 Germany
9.3.7.2.1 Key market trends, growth factors and opportunities
9.3.7.2.2 Market size and forecast, by Tonnage type
9.3.7.2.3 Market size and forecast, by Propulsion
9.3.7.2.4 Market size and forecast, by Application
9.3.7.2.5 Market size and forecast, by Axle Type
9.3.7.2.6 Market size and forecast, by Truck Type
9.3.7.3 Spain
9.3.7.3.1 Key market trends, growth factors and opportunities
9.3.7.3.2 Market size and forecast, by Tonnage type
9.3.7.3.3 Market size and forecast, by Propulsion
9.3.7.3.4 Market size and forecast, by Application
9.3.7.3.5 Market size and forecast, by Axle Type
9.3.7.3.6 Market size and forecast, by Truck Type
9.3.7.4 UK
9.3.7.4.1 Key market trends, growth factors and opportunities
9.3.7.4.2 Market size and forecast, by Tonnage type
9.3.7.4.3 Market size and forecast, by Propulsion
9.3.7.4.4 Market size and forecast, by Application
9.3.7.4.5 Market size and forecast, by Axle Type
9.3.7.4.6 Market size and forecast, by Truck Type
9.3.7.5 Rest of Europe
9.3.7.5.1 Key market trends, growth factors and opportunities
9.3.7.5.2 Market size and forecast, by Tonnage type
9.3.7.5.3 Market size and forecast, by Propulsion
9.3.7.5.4 Market size and forecast, by Application
9.3.7.5.5 Market size and forecast, by Axle Type
9.3.7.5.6 Market size and forecast, by Truck Type
9.4 Asia-Pacific
9.4.1 Key trends and opportunities
9.4.2 Asia-Pacific Market size and forecast, by Tonnage type
9.4.3 Asia-Pacific Market size and forecast, by Propulsion
9.4.4 Asia-Pacific Market size and forecast, by Application
9.4.5 Asia-Pacific Market size and forecast, by Axle Type
9.4.6 Asia-Pacific Market size and forecast, by Truck Type
9.4.7 Asia-Pacific Market size and forecast, by country
9.4.7.1 China
9.4.7.1.1 Key market trends, growth factors and opportunities
9.4.7.1.2 Market size and forecast, by Tonnage type
9.4.7.1.3 Market size and forecast, by Propulsion
9.4.7.1.4 Market size and forecast, by Application
9.4.7.1.5 Market size and forecast, by Axle Type
9.4.7.1.6 Market size and forecast, by Truck Type
9.4.7.2 Japan
9.4.7.2.1 Key market trends, growth factors and opportunities
9.4.7.2.2 Market size and forecast, by Tonnage type
9.4.7.2.3 Market size and forecast, by Propulsion
9.4.7.2.4 Market size and forecast, by Application
9.4.7.2.5 Market size and forecast, by Axle Type
9.4.7.2.6 Market size and forecast, by Truck Type
9.4.7.3 India
9.4.7.3.1 Key market trends, growth factors and opportunities
9.4.7.3.2 Market size and forecast, by Tonnage type
9.4.7.3.3 Market size and forecast, by Propulsion
9.4.7.3.4 Market size and forecast, by Application
9.4.7.3.5 Market size and forecast, by Axle Type
9.4.7.3.6 Market size and forecast, by Truck Type
9.4.7.4 South Korea
9.4.7.4.1 Key market trends, growth factors and opportunities
9.4.7.4.2 Market size and forecast, by Tonnage type
9.4.7.4.3 Market size and forecast, by Propulsion
9.4.7.4.4 Market size and forecast, by Application
9.4.7.4.5 Market size and forecast, by Axle Type
9.4.7.4.6 Market size and forecast, by Truck Type
9.4.7.5 Rest of Asia-Pacific
9.4.7.5.1 Key market trends, growth factors and opportunities
9.4.7.5.2 Market size and forecast, by Tonnage type
9.4.7.5.3 Market size and forecast, by Propulsion
9.4.7.5.4 Market size and forecast, by Application
9.4.7.5.5 Market size and forecast, by Axle Type
9.4.7.5.6 Market size and forecast, by Truck Type
9.5 LAMEA
9.5.1 Key trends and opportunities
9.5.2 LAMEA Market size and forecast, by Tonnage type
9.5.3 LAMEA Market size and forecast, by Propulsion
9.5.4 LAMEA Market size and forecast, by Application
9.5.5 LAMEA Market size and forecast, by Axle Type
9.5.6 LAMEA Market size and forecast, by Truck Type
9.5.7 LAMEA Market size and forecast, by country
9.5.7.1 Latin America
9.5.7.1.1 Key market trends, growth factors and opportunities
9.5.7.1.2 Market size and forecast, by Tonnage type
9.5.7.1.3 Market size and forecast, by Propulsion
9.5.7.1.4 Market size and forecast, by Application
9.5.7.1.5 Market size and forecast, by Axle Type
9.5.7.1.6 Market size and forecast, by Truck Type
9.5.7.2 Middle East
9.5.7.2.1 Key market trends, growth factors and opportunities
9.5.7.2.2 Market size and forecast, by Tonnage type
9.5.7.2.3 Market size and forecast, by Propulsion
9.5.7.2.4 Market size and forecast, by Application
9.5.7.2.5 Market size and forecast, by Axle Type
9.5.7.2.6 Market size and forecast, by Truck Type
9.5.7.3 Africa
9.5.7.3.1 Key market trends, growth factors and opportunities
9.5.7.3.2 Market size and forecast, by Tonnage type
9.5.7.3.3 Market size and forecast, by Propulsion
9.5.7.3.4 Market size and forecast, by Application
9.5.7.3.5 Market size and forecast, by Axle Type
9.5.7.3.6 Market size and forecast, by Truck Type

CHAPTER 10: COMPANY LANDSCAPE
10.1. Introduction
10.2. Top winning strategies
10.3. Product Mapping of Top 10 Player
10.4. Competitive Dashboard
10.5. Competitive Heatmap
10.6. Key developments

CHAPTER 11: COMPANY PROFILES
11.1 Scania
11.1.1 Company overview
11.1.2 Company snapshot
11.1.3 Operating business segments
11.1.4 Product portfolio
11.1.5 Business performance
11.1.6 Key strategic moves and developments
11.2 Tata Motors
11.2.1 Company overview
11.2.2 Company snapshot
11.2.3 Operating business segments
11.2.4 Product portfolio
11.2.5 Business performance
11.2.6 Key strategic moves and developments
11.3 MAN
11.3.1 Company overview
11.3.2 Company snapshot
11.3.3 Operating business segments
11.3.4 Product portfolio
11.3.5 Business performance
11.3.6 Key strategic moves and developments
11.4 AB Volvo
11.4.1 Company overview
11.4.2 Company snapshot
11.4.3 Operating business segments
11.4.4 Product portfolio
11.4.5 Business performance
11.4.6 Key strategic moves and developments
11.5 PACCAR Inc.
11.5.1 Company overview
11.5.2 Company snapshot
11.5.3 Operating business segments
11.5.4 Product portfolio
11.5.5 Business performance
11.5.6 Key strategic moves and developments
11.6 Isuzu Motors Limited
11.6.1 Company overview
11.6.2 Company snapshot
11.6.3 Operating business segments
11.6.4 Product portfolio
11.6.5 Business performance
11.6.6 Key strategic moves and developments
11.7 Eicher Motors Ltd
11.7.1 Company overview
11.7.2 Company snapshot
11.7.3 Operating business segments
11.7.4 Product portfolio
11.7.5 Business performance
11.7.6 Key strategic moves and developments
11.8 Ashok Leyland
11.8.1 Company overview
11.8.2 Company snapshot
11.8.3 Operating business segments
11.8.4 Product portfolio
11.8.5 Business performance
11.8.6 Key strategic moves and developments
11.9 NAVISTAR, INC.
11.9.1 Company overview
11.9.2 Company snapshot
11.9.3 Operating business segments
11.9.4 Product portfolio
11.9.5 Business performance
11.9.6 Key strategic moves and developments
11.10 Dongfeng Commercial Vehicle Company Limited
11.10.1 Company overview
11.10.2 Company snapshot
11.10.3 Operating business segments
11.10.4 Product portfolio
11.10.5 Business performance
11.10.6 Key strategic moves and developments
11.11 China National Heavy Duty Truck Group Co., Ltd
11.11.1 Company overview
11.11.2 Company snapshot
11.11.3 Operating business segments
11.11.4 Product portfolio
11.11.5 Business performance
11.11.6 Key strategic moves and developments
11.12 freightliner
11.12.1 Company overview
11.12.2 Company snapshot
11.12.3 Operating business segments
11.12.4 Product portfolio
11.12.5 Business performance
11.12.6 Key strategic moves and developments

List of Tables
Table 1. Global Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 2. Heavy Duty Truck Market for 10 to 15 Metric Ton, by Region, 2021-2031 (Revenue, $Thousand)
Table 3. Heavy Duty Truck Market for 10 to 15 Metric Ton, by Country, 2021-2031 (Revenue, $Thousand)
Table 4. Heavy Duty Truck Market for More Than 15 Metric Ton, by Region, 2021-2031 (Revenue, $Thousand)
Table 5. Heavy Duty Truck Market for More Than 15 Metric Ton, by Country, 2021-2031 (Revenue, $Thousand)
Table 6. Global Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 7. Heavy Duty Truck Market for Ic Engine, by Region, 2021-2031 (Revenue, $Thousand)
Table 8. Heavy Duty Truck Market for Ic Engine, by Country, 2021-2031 (Revenue, $Thousand)
Table 9. Heavy Duty Truck Market for Electric, by Region, 2021-2031 (Revenue, $Thousand)
Table 10. Heavy Duty Truck Market for Electric, by Country, 2021-2031 (Revenue, $Thousand)
Table 11. Heavy Duty Truck Market for Fcev, by Region, 2021-2031 (Revenue, $Thousand)
Table 12. Heavy Duty Truck Market for Fcev, by Country, 2021-2031 (Revenue, $Thousand)
Table 13. Global Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 14. Heavy Duty Truck Market for Construction and Mining, by Region, 2021-2031 (Revenue, $Thousand)
Table 15. Heavy Duty Truck Market for Construction and Mining, by Country, 2021-2031 (Revenue, $Thousand)
Table 16. Heavy Duty Truck Market for Freight and Logistics, by Region, 2021-2031 (Revenue, $Thousand)
Table 17. Heavy Duty Truck Market for Freight and Logistics, by Country, 2021-2031 (Revenue, $Thousand)
Table 18. Heavy Duty Truck Market for Long Haul, by Region, 2021-2031 (Revenue, $Thousand)
Table 19. Heavy Duty Truck Market for Long Haul, by Country, 2021-2031 (Revenue, $Thousand)
Table 20. Heavy Duty Truck Market for Other, by Region, 2021-2031 (Revenue, $Thousand)
Table 21. Heavy Duty Truck Market for Other, by Country, 2021-2031 (Revenue, $Thousand)
Table 22. Global Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 23. Heavy Duty Truck Market for 4X2, by Region, 2021-2031 (Revenue, $Thousand)
Table 24. Heavy Duty Truck Market for 4X2, by Country, 2021-2031 (Revenue, $Thousand)
Table 25. Heavy Duty Truck Market for 6X4, by Region, 2021-2031 (Revenue, $Thousand)
Table 26. Heavy Duty Truck Market for 6X4, by Country, 2021-2031 (Revenue, $Thousand)
Table 27. Heavy Duty Truck Market for 6X2, by Region, 2021-2031 (Revenue, $Thousand)
Table 28. Heavy Duty Truck Market for 6X2, by Country, 2021-2031 (Revenue, $Thousand)
Table 29. Heavy Duty Truck Market for 6X6, by Region, 2021-2031 (Revenue, $Thousand)
Table 30. Heavy Duty Truck Market for 6X6, by Country, 2021-2031 (Revenue, $Thousand)
Table 31. Heavy Duty Truck Market for 8X6, by Region, 2021-2031 (Revenue, $Thousand)
Table 32. Heavy Duty Truck Market for 8X6, by Country, 2021-2031 (Revenue, $Thousand)
Table 33. Heavy Duty Truck Market for 8X8, by Region, 2021-2031 (Revenue, $Thousand)
Table 34. Heavy Duty Truck Market for 8X8, by Country, 2021-2031 (Revenue, $Thousand)
Table 35. Heavy Duty Truck Market for Others, by Region, 2021-2031 (Revenue, $Thousand)
Table 36. Heavy Duty Truck Market for Others, by Country, 2021-2031 (Revenue, $Thousand)
Table 37. Global Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 38. Heavy Duty Truck Market for Rigid, by Region, 2021-2031 (Revenue, $Thousand)
Table 39. Heavy Duty Truck Market for Rigid, by Country, 2021-2031 (Revenue, $Thousand)
Table 40. Heavy Duty Truck Market for Articulated, by Region, 2021-2031 (Revenue, $Thousand)
Table 41. Heavy Duty Truck Market for Articulated, by Country, 2021-2031 (Revenue, $Thousand)
Table 42. Heavy Duty Truck Market for Others, by Region, 2021-2031 (Revenue, $Thousand)
Table 43. Heavy Duty Truck Market for Others, by Country, 2021-2031 (Revenue, $Thousand)
Table 44. Heavy Duty Truck Market, by Region, 2021-2031 (Revenue, $Thousand)
Table 45. North America Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 46. North America Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 47. North America Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 48. North America Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 49. North America Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 50. North America Heavy Duty Truck Market, by Country, 2021-2031 (Revenue, $Thousand)
Table 51. U.S. Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 52. U.S. Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 53. U.S. Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 54. U.S. Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 55. U.S. Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 56. Canada Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 57. Canada Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 58. Canada Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 59. Canada Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 60. Canada Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 61. Mexico Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 62. Mexico Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 63. Mexico Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 64. Mexico Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 65. Mexico Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 66. Europe Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 67. Europe Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 68. Europe Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 69. Europe Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 70. Europe Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 71. Europe Heavy Duty Truck Market, by Country, 2021-2031 (Revenue, $Thousand)
Table 72. France Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 73. France Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 74. France Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 75. France Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 76. France Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 77. Germany Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 78. Germany Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 79. Germany Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 80. Germany Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 81. Germany Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 82. Spain Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 83. Spain Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 84. Spain Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 85. Spain Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 86. Spain Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 87. UK Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 88. UK Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 89. UK Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 90. UK Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 91. UK Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 92. Rest of Europe Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 93. Rest of Europe Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 94. Rest of Europe Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 95. Rest of Europe Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 96. Rest of Europe Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 97. Asia-Pacific Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 98. Asia-Pacific Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 99. Asia-Pacific Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 100. Asia-Pacific Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 101. Asia-Pacific Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 102. Asia-Pacific Heavy Duty Truck Market, by Country, 2021-2031 (Revenue, $Thousand)
Table 103. China Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 104. China Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 105. China Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 106. China Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 107. China Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 108. Japan Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 109. Japan Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 110. Japan Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 111. Japan Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 112. Japan Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 113. India Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 114. India Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 115. India Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 116. India Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 117. India Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 118. South Korea Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 119. South Korea Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 120. South Korea Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 121. South Korea Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 122. South Korea Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 123. Rest of Asia-Pacific Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 124. Rest of Asia-Pacific Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 125. Rest of Asia-Pacific Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 126. Rest of Asia-Pacific Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 127. Rest of Asia-Pacific Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 128. LAMEA Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 129. LAMEA Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 130. LAMEA Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 131. LAMEA Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 132. LAMEA Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 133. LAMEA Heavy Duty Truck Market, by Country, 2021-2031 (Revenue, $Thousand)
Table 134. Latin America Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 135. Latin America Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 136. Latin America Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 137. Latin America Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 138. Latin America Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 139. Middle East Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 140. Middle East Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 141. Middle East Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 142. Middle East Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 143. Middle East Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 144. Africa Heavy Duty Truck Market, by Tonnage Type, 2021-2031 (Revenue, $Thousand)
Table 145. Africa Heavy Duty Truck Market, by Propulsion, 2021-2031 (Revenue, $Thousand)
Table 146. Africa Heavy Duty Truck Market, by Application, 2021-2031 (Revenue, $Thousand)
Table 147. Africa Heavy Duty Truck Market, by Axle Type, 2021-2031 (Revenue, $Thousand)
Table 148. Africa Heavy Duty Truck Market, by Truck Type, 2021-2031 (Revenue, $Thousand)
Table 149. Scania: Company Snapshot
Table 150. Scania: Operating Segments
Table 151. Scania: Product Portfolio
Table 152. Scania: Net Sales
Table 153. Scania: Key Stratergies
Table 154. Tata Motors: Company Snapshot
Table 155. Tata Motors: Operating Segments
Table 156. Tata Motors: Product Portfolio
Table 157. Tata Motors: Net Sales
Table 158. Tata Motors: Key Stratergies
Table 159. Man: Company Snapshot
Table 160. Man: Operating Segments
Table 161. Man: Product Portfolio
Table 162. Man: Net Sales
Table 163. Man: Key Stratergies
Table 164. Ab Volvo: Company Snapshot
Table 165. Ab Volvo: Operating Segments
Table 166. Ab Volvo: Product Portfolio
Table 167. Ab Volvo: Net Sales
Table 168. Ab Volvo: Key Stratergies
Table 169. Paccar Inc.: Company Snapshot
Table 170. Paccar Inc.: Operating Segments
Table 171. Paccar Inc.: Product Portfolio
Table 172. Paccar Inc.: Net Sales
Table 173. Paccar Inc.: Key Stratergies
Table 174. Isuzu Motors Limited: Company Snapshot
Table 175. Isuzu Motors Limited: Operating Segments
Table 176. Isuzu Motors Limited: Product Portfolio
Table 177. Isuzu Motors Limited: Net Sales
Table 178. Isuzu Motors Limited: Key Stratergies
Table 179. Eicher Motors Ltd: Company Snapshot
Table 180. Eicher Motors Ltd: Operating Segments
Table 181. Eicher Motors Ltd: Product Portfolio
Table 182. Eicher Motors Ltd: Net Sales
Table 183. Eicher Motors Ltd: Key Stratergies
Table 184. Ashok Leyland: Company Snapshot
Table 185. Ashok Leyland: Operating Segments
Table 186. Ashok Leyland: Product Portfolio
Table 187. Ashok Leyland: Net Sales
Table 188. Ashok Leyland: Key Stratergies
Table 189. Navistar, Inc.: Company Snapshot
Table 190. Navistar, Inc.: Operating Segments
Table 191. Navistar, Inc.: Product Portfolio
Table 192. Navistar, Inc.: Net Sales
Table 193. Navistar, Inc.: Key Stratergies
Table 194. Dongfeng Commercial Vehicle Company Limited: Company Snapshot
Table 195. Dongfeng Commercial Vehicle Company Limited: Operating Segments
Table 196. Dongfeng Commercial Vehicle Company Limited: Product Portfolio
Table 197. Dongfeng Commercial Vehicle Company Limited: Net Sales
Table 198. Dongfeng Commercial Vehicle Company Limited: Key Stratergies
Table 199. China National Heavy Duty Truck Group Co. Ltd: Company Snapshot
Table 200. China National Heavy Duty Truck Group Co. Ltd: Operating Segments
Table 201. China National Heavy Duty Truck Group Co. Ltd: Product Portfolio
Table 202. China National Heavy Duty Truck Group Co. Ltd: Net Sales
Table 203. China National Heavy Duty Truck Group Co. Ltd: Key Stratergies
Table 204. Freightliner: Company Snapshot
Table 205. Freightliner: Operating Segments
Table 206. Freightliner: Product Portfolio
Table 207. Freightliner: Net Sales
Table 208. Freightliner: Key Stratergies

List of Figures
Figure 1. Heavy Duty Truck Market Segmentation
Figure 2. Heavy Duty Truck Market, 2021-2031
Figure 3. Heavy Duty Truck Market, 2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Heavy Duty Truck Market: Drivers, Restraints and Opportunities
Figure 12. Heavy Duty Truck Market, by Tonnage Type, 2021 (%)
Figure 13. Comparative Share Analysis of 10 to 15 Metric Ton Heavy Duty Truck Market, 2021-2031 (%)
Figure 14. Comparative Share Analysis of More Than 15 Metric Ton Heavy Duty Truck Market, 2021-2031 (%)
Figure 15. Heavy Duty Truck Market, by Propulsion, 2021 (%)
Figure 16. Comparative Share Analysis of Ic Engine Heavy Duty Truck Market, 2021-2031 (%)
Figure 17. Comparative Share Analysis of Electric Heavy Duty Truck Market, 2021-2031 (%)
Figure 18. Comparative Share Analysis of Fcev Heavy Duty Truck Market, 2021-2031 (%)
Figure 19. Heavy Duty Truck Market, by Application, 2021 (%)
Figure 20. Comparative Share Analysis of Construction and Mining Heavy Duty Truck Market, 2021-2031 (%)
Figure 21. Comparative Share Analysis of Freight and Logistics Heavy Duty Truck Market, 2021-2031 (%)
Figure 22. Comparative Share Analysis of Long Haul Heavy Duty Truck Market, 2021-2031 (%)
Figure 23. Comparative Share Analysis of Other Heavy Duty Truck Market, 2021-2031 (%)
Figure 24. Heavy Duty Truck Market, by Axle Type, 2021 (%)
Figure 25. Comparative Share Analysis of 4X2 Heavy Duty Truck Market, 2021-2031 (%)
Figure 26. Comparative Share Analysis of 6X4 Heavy Duty Truck Market, 2021-2031 (%)
Figure 27. Comparative Share Analysis of 6X2 Heavy Duty Truck Market, 2021-2031 (%)
Figure 28. Comparative Share Analysis of 6X6 Heavy Duty Truck Market, 2021-2031 (%)
Figure 29. Comparative Share Analysis of 8X6 Heavy Duty Truck Market, 2021-2031 (%)
Figure 30. Comparative Share Analysis of 8X8 Heavy Duty Truck Market, 2021-2031 (%)
Figure 31. Comparative Share Analysis of Others Heavy Duty Truck Market, 2021-2031 (%)
Figure 32. Heavy Duty Truck Market, by Truck Type, 2021 (%)
Figure 33. Comparative Share Analysis of Rigid Heavy Duty Truck Market, 2021-2031 (%)
Figure 34. Comparative Share Analysis of Articulated Heavy Duty Truck Market, 2021-2031 (%)
Figure 35. Comparative Share Analysis of Others Heavy Duty Truck Market, 2021-2031 (%)
Figure 36. Heavy Duty Truck Market by Region, 2021
Figure 37. U.S. Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 38. Canada Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 39. Mexico Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 40. France Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 41. Germany Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 42. Spain Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 43. Uk Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 44. Rest of Europe Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 45. China Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 46. Japan Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 47. India Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 48. South Korea Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 49. Rest of Asia-Pacific Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 50. Latin America Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 51. Middle East Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 52. Africa Heavy Duty Truck Market, 2021-2031 ($Thousand)
Figure 53. Top Winning Strategies, by Year
Figure 54. Top Winning Strategies, by Development
Figure 55. Top Winning Strategies, by Company
Figure 56. Product Mapping of Top 10 Players
Figure 57. Competitive Dashboard
Figure 58. Competitive Heatmap of Top 10 Key Players
Figure 59. Scania.: Net Sales ($Thousand)
Figure 60. Tata Motors.: Net Sales ($Thousand)
Figure 61. Man.: Net Sales ($Thousand)
Figure 62. Ab Volvo.: Net Sales ($Thousand)
Figure 63. Paccar Inc..: Net Sales ($Thousand)
Figure 64. Isuzu Motors Limited.: Net Sales ($Thousand)
Figure 65. Eicher Motors Ltd.: Net Sales ($Thousand)
Figure 66. Ashok Leyland.: Net Sales ($Thousand)
Figure 67. Navistar, Inc..: Net Sales ($Thousand)
Figure 68. Dongfeng Commercial Vehicle Company Limited.: Net Sales ($Thousand)
Figure 69. China National Heavy Duty Truck Group Co. Ltd.: Net Sales ($Thousand)
Figure 70. Freightliner.: Net Sales ($Thousand)

Executive Summary

The Heavy Duty Truck Market is expected to experience a significant growth rate of 4.8% from 2022-2031 owing to rising demand for high-performance mobility solutions for all terrains.

Heavy duty trucks are an essential vehicle for the transportation industry to transport large quantities of products or materials. These kinds of trucks are heavy and large, like concrete pump trucks and heavy duty dump trucks, capable of lifting and transporting heavy cargo, goods, loads and materials. They are multi-purpose vehicles with various usages such as towing and moving houses, recovery of disabled and stranded vehicles, and delivery and transport. These trucks can work on both types of roads, off-roads as well as on-roads. These vehicles have exceptional power starting from 160 HP up to around 500 HP. At present, heavy duty trucks are more luxurious due to an ever-expanding list of features. Leather seats, high-quality infotainment systems and other niceties like folding running boards make the ride of heavy duty trucks comfortable.

The key factors driving the growth of the heavy duty truck market include increasing need for transportation mediums for rural and semi-urban areas, technology advancement in heavy duty trucks which creates lucrative opportunities for the growth of the market across the globe. Moreover, the factors such as improvement of road infrastructure, greater availability of credit and financing options, and the high payload capacity also propels the market toward a positive growth across the globe. Moreover, the factors such as growing carbon emission from the burning of diesel fuel and rising fuel prices & high maintenance cost of trucks hamper the growth of the market across the globe.

The market also offers growth factors to the key players operating in the market due to the proliferation of transport & logistics activities which creates ample opportunities for the growth of the market across the globe. Online product ordering and delivery services have gained high traction in the last five years, which has propelled the market toward a positive growth. In addition, the due to increasing demand of electric trucks in freight & logistics industry, propels the heavy duty truck market growth in forecast year. For instance, in January 2022, Volvo Trucks launched fully electric heavy duty Volvo VNR electric truck with longer range. Volvo VNR Electric had an operating range of up to 240 km (150 miles). Now an enhanced version of the class 8* electric truck is launched, with an operational range of up to 440 km (275 miles) and increased energy storage of up to 565kWh.

The heavy duty truck market is segmented into tonnage type, propulsion, application, truck type, axle type, and region. By tonnage type, the market is divided into 10 to 15 metric ton and more than 15 metric ton. By propulsion, it is fragmented into internal combustion engine (ICE), electric, and fuel cell electric vehicle (FCEV). By application, it is categorized into construction and mining, freight and logistics, long haul, and other. By truck type, it is categorized into rigid, articulated, and others. By axle type, it is fragmented into 4X2, 6X4, 6X2, 6X6, 8X6, 8X8, and others. By region, it is analyzed across North America (U.S., Canada and Mexico), Europe (France, Germany, Spain, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

The key players profiled in the study include Ashok Leylands, Isuzu Motors Limited, TATA Motors, Scania, AB Volvo, Freightliner, MAN, PACCAR Inc., Eicher Motors Ltd, NAVISTAR, INC., China National Heavy Duty Truck Group Co., Ltd, and Dongfeng Commercial Vehicle Company Limited. The players in the market have been actively engaged in the adoption of various strategies such as have adopted partnerships, investments, and product launches to remain competitive and gain advantage over the competitors in the market. For instance, in February 2021, DHL Freight and Volvo Trucks partnered to speed up the introduction of heavy-duty electric trucks for regional transport in Europe. So far, the main use of electric trucks has been for shorter distances within cities and urban areas. Now DHL Freight and Volvo Trucks have initiated a project focusing on longer-distance heavy transports. The cooperation includes exclusive, global, first pilot tests of a fully electric Volvo FH truck with gross combination weights up to 60 metric tons.

Key Market Insights

  • By tonnage type, the more than 15 metric ton segment was the highest revenue contributor to the market, and is estimated to reach $204.49 billion by 2031, with a CAGR of 4.4%. However, the 10 to 15 metric ton segment is estimated to be the fastest growing segment with the CAGR of 5.4% during the forecast period.
  • By propulsion, the IC engine segment was the highest revenue contributor to the market, and is estimated to reach $280.82 billion by 2031, with a CAGR of 3.7%. However, the electric segment is estimated to be the fastest growing segment with the CAGR of 16.2% during the forecast period.
  • By application, the other segment dominated the global market, and is estimated to reach $102.68 billion by 2031, with a CAGR of 5.5%.
  • By axle type, the others segment was the highest revenue contributor to the market, and is estimated to reach $118.07 billion by 2031, with a CAGR of 4.8%. However, the 6X2 segment is estimated to be the fastest growing segment with the CAGR of 7.2% during the forecast period.
  • By truck type, the others segment was the highest revenue contributor to the market, and is estimated to reach $74.62 billion by 2031, with a CAGR of 5.4%. However, the rigid segment is estimated to be the fastest growing segment with the CAGR of 5.6% during the forecast period.
  • By region, Asia-Pacific was the highest revenue contributor, accounting for $78.46 billion in 2021, and is estimated to reach $128.02 billion by 2031, with a CAGR of 5.2%.

Companies Mentioned

  • PACCAR Inc.
  • Isuzu Motors Limited
  • Eicher Motors Ltd
  • Tata Motors
  • Ashok Leyland
  • NAVISTAR, INC.
  • China National Heavy Duty Truck Group Co., Ltd
  • freightliner
  • Scania
  • MAN
  • Dongfeng Commercial Vehicle Company Limited
  • AB Volvo

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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