Heavy Duty Trucks Market Report 2026

The heavy duty trucks market size has grown steadily in recent years. It will grow from $240.35 billion in 2025 to $248.55 billion in 2026 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to growth in construction and mining activity, expansion of freight transportation demand, infrastructure development investments, diesel engine performance improvements, demand for high load carrying vehicles.

The heavy duty trucks market size is expected to see steady growth in the next few years. It will grow to $290.84 billion in 2030 at a compound annual growth rate (CAGR) of 4%. The growth in the forecast period can be attributed to electric heavy duty truck adoption, hydrogen fuel cell commercialization, smart fleet telematics growth, tightening emission regulations, demand for autonomous hauling solutions. Major trends in the forecast period include advanced driver assistance integration, electrification of heavy duty truck platforms, connected fleet management systems, automation in powertrain manufacturing, low emission and fuel efficient truck design.

The increase in infrastructure development and construction is expected to drive the growth of the heavy-duty truck market. Infrastructure development involves the planning, financing, and construction of essential physical systems that support communities and economic activities. Heavy-duty trucks play a critical role by transporting construction materials, equipment, and goods, offering large cargo capacities and long-distance capabilities necessary for large-scale projects. For instance, in July 2025, the UK’s Office for National Statistics reported that government spending on infrastructure reached US$38.3 billion (£28.9 billion) in 2024, a 2.2% increase from the previous year. Therefore, the growing infrastructure and construction activities are fueling the demand for heavy-duty trucks.

Leading players in the heavy-duty truck market are advancing technological innovations to fortify their market presence. Notably, hydrogen-powered trucks equipped with hydrogen internal combustion engine (ICE) technology are garnering attention for their sustainability and operational benefits. These trucks offer a promising solution to environmental concerns while enhancing industry viability. For example, in February 2023, Ashok Leyland, in collaboration with Reliance Industries Limited, introduced the H2-ICE heavy-duty truck range powered by hydrogen. This clean and renewable energy source is poised to revolutionize green mobility, delivering nearly zero emissions, comparable performance to traditional diesel trucks, reduced noise levels, and cost-saving operational efficiencies.

In October 2023, Alamo Group Inc., a leading US-based manufacturer specializing in agricultural equipment and infrastructure maintenance machinery, completed the acquisition of Royal Truck & Equipment Inc. for an undisclosed sum. This strategic move is anticipated to fortify Alamo's presence within the infrastructure maintenance sector while unlocking fresh avenues for growth in the highway safety market. Royal Truck & Equipment Inc., recognized for its expertise in heavy-duty truck manufacturing, aligns seamlessly with Alamo's strategic objectives.

Major companies operating in the heavy duty trucks market report include Mercedes-Benz Group, Volvo AB, Traton Group, Tata Motors Limited, Paccar Inc., Peterbilt, Scania AB, Mahindra & Mahindra Limited, Isuzu Motors Limited, Dongfeng Motor Group, MAN.SE, Hino Motors Ltd., Oshkosh Corporation, Mitsubishi Fuso Truck and Bus Corporation, Eicher Motors Ltd, Ashok Leyland, Mack Trucks, Western Star Trucks, Inc., Navistar International Corporation, Mack Trucks.

North America was the largest region in the heavy duty trucks market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heavy duty trucks market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the heavy duty trucks market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The heavy duty trucks market consists of sales of cement trucks, dump trucks, long-haul tractor-trailers, Class 7 and Class 8 Trucks. 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.

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