Class 8 Truck Market Report: Trends, Forecast and Competitive Analysis to 2031

The global class 8 truck market is expected to grow with a CAGR of 5.8% from 2025 to 2031. The major drivers for this market are the growing logistics & supply chain industry and the rising need for goods transportation.

The future of the global class 8 truck market looks promising with opportunities in the construction, mining, and transportation markets.

• Within the type category, diesel truck is expected to witness the highest growth over the forecast period.
• Within the application category, transportation is expected to witness the highest growth due to the increasing demand of last-mile delivery.
• In terms of region, APAC is expected to witness the highest growth over the forecast period.

Emerging Trends in the Class 8 Truck Market

The class 8 truck market is evolving through the rise of new trends that focus on sustainability, digitalization, safety, and efficiency. As demand grows for cleaner and smarter logistics, industry players are adopting advanced technologies and new business models. Countries are implementing strict regulations, and manufacturers are responding with innovative solutions that reduce costs and environmental impact. Five major trends are driving this transformation, and they are shaping the future of freight transportation. These trends are improving fleet operations, reducing emissions, and meeting the changing demands of modern logistics worldwide.

• Electrification of Trucks: Electrification is becoming a priority in the class 8 truck market, with manufacturers investing in battery-electric models to meet strict emission standards. Governments are offering incentives to support electric vehicle adoption. Charging infrastructure is growing, making long-haul electric trucking more feasible. Electric trucks reduce fuel costs and emissions, making them attractive to fleet operators. Advances in battery technology are improving range and performance, helping the industry move towards carbon neutrality. Electrification is helping companies meet environmental goals while lowering operational expenses.
• Adoption of Hydrogen Fuel Cell Technology: Hydrogen fuel cell technology is gaining popularity in the class 8 truck market as an alternative to diesel. These vehicles provide longer ranges and faster refueling times compared to electric trucks. Countries like Japan, Germany, and China are leading hydrogen infrastructure development. Manufacturers are launching new fuel cell truck models to support long-haul operations. Hydrogen trucks help reduce emissions and support energy diversification. This technology is becoming essential for markets that require heavy-duty performance with minimal environmental impact, helping create a sustainable freight network.
• Advanced Driver Assistance Systems (ADAS): ADAS technologies are becoming common in the class 8 truck market to improve safety and reduce accidents. Features like lane-keeping assist, automatic braking, and adaptive cruise control help drivers operate more safely. These systems lower the risk of collisions and protect cargo. Insurance costs are reduced for fleets using ADAS. Regulations are encouraging the adoption of safety technology, making it a standard feature. ADAS helps improve driver comfort and reduces fatigue, which increases productivity and safety on long routes.
• Smart Fleet Management: Smart fleet management solutions are transforming operations by using telematics, GPS tracking, and real-time data analytics. These technologies help companies monitor vehicle performance, fuel usage, and maintenance needs. Smart systems optimize routes, reduce idle time, and lower operational costs. Fleet managers can track driver behavior and ensure compliance with regulations. This trend is improving efficiency and sustainability in logistics. With rising demand for faster deliveries and lower emissions, smart fleet management has become a key tool for success in the class 8 truck market.
• Autonomous Truck Development: Autonomous driving technology is advancing in the class 8 truck market to address driver shortages and improve efficiency. Testing of self-driving trucks is underway in countries like the United States, Japan, and Germany. These vehicles aim to reduce labor costs, minimize human error, and increase productivity. Autonomous trucks can operate continuously, making long-haul transport more efficient. Regulations and safety testing are progressing to support commercial use. The adoption of autonomous trucks is expected to transform logistics by enabling safer and more cost-effective transportation.

Emerging trends in the class 8 truck market are driving significant changes in the industry. Electrification, hydrogen fuel, advanced safety systems, smart fleet management, and autonomous vehicles are shaping a future of cleaner, safer, and more efficient freight transport. These trends are helping companies reduce operational costs, meet environmental targets, and improve logistics performance, creating long-term benefits for the global supply chain.

Recent Developments in the Class 8 Truck Market

The class 8 truck market is experiencing major developments driven by the need for cleaner transportation, higher efficiency, and better safety. Governments, manufacturers, and logistics companies are working together to introduce advanced technologies and alternative powertrains. The growing demand for sustainable solutions, stricter emission regulations, and rising fuel costs are pushing the market to evolve quickly. Electric trucks, hydrogen fuel cells, digital platforms, and autonomous driving systems are shaping the future. These developments are improving fleet performance, reducing costs, and supporting environmental goals, transforming how goods are transported across long distances.

• Launch of Electric Truck Models: Manufacturers are launching new electric Class 8 truck models to meet increasing demand for zero-emission freight solutions. These trucks offer lower operating costs, reduced emissions, and quiet operation. Companies are investing in charging infrastructure to support long-haul routes. Battery technology improvements are increasing driving range and reducing charging time. Governments are providing financial incentives to encourage adoption. The launch of electric trucks is helping fleets transition from diesel to cleaner alternatives, supporting environmental regulations and customer sustainability goals.
• Expansion of Hydrogen Fuel Infrastructure: Countries are expanding hydrogen refueling stations to support the deployment of hydrogen-powered Class 8 trucks. This infrastructure growth is essential for long-distance freight operations where electric charging may not be practical. Hydrogen trucks offer fast refueling times and high payload capacities. Investments from governments and private companies are making hydrogen transport viable. The development of this infrastructure is enabling cleaner freight operations, reducing reliance on fossil fuels, and helping countries meet emission targets in heavy-duty transport.
• Integration of Autonomous Driving Features: Autonomous driving technologies are being integrated into Class 8 trucks to enhance safety and reduce driver fatigue. Features like adaptive cruise control, lane-keeping assistance, and collision avoidance are becoming standard. These technologies improve driving precision, reduce accidents, and lower insurance costs. Pilot programs for fully autonomous trucks are underway in several countries. The integration of these systems is making long-haul freight more reliable and efficient while addressing driver shortages and reducing operational challenges.
• Adoption of Digital Freight Platforms: Digital freight platforms are becoming common in the class 8 truck market, allowing shippers and carriers to connect and optimize logistics. These platforms use real-time data to match cargo with available trucks, improving route efficiency and reducing empty miles. Automated booking and tracking features streamline operations and reduce costs. Digital freight management supports better decision-making through analytics. This development is increasing efficiency, improving service levels, and helping companies handle complex supply chains more effectively.
• Development of Lightweight Materials: Manufacturers are using lightweight materials such as aluminum and composites in Class 8 truck design to reduce vehicle weight. Lighter trucks consume less fuel and can carry larger payloads. These materials help offset the added weight of electric powertrains and batteries. Advances in material science are making these options more durable and cost-effective. The development of lightweight trucks is improving fuel efficiency, reducing emissions, and enhancing overall vehicle performance in freight operations.

Recent developments in the class 8 truck market are transforming the industry by focusing on sustainability, efficiency, and safety. The introduction of electric and hydrogen trucks, autonomous features, digital platforms, and lightweight materials is helping fleets reduce costs and environmental impacts. These innovations are setting new standards for heavy-duty transport and preparing the industry for future challenges.

Strategic Growth Opportunities in the Class 8 Truck Market

The class 8 truck market is unlocking new growth opportunities as companies look for ways to improve operations, meet environmental goals, and satisfy growing demand. Applications across various industries are creating areas for expansion, with a focus on electrification, advanced logistics, safety, and fuel alternatives. Strategic partnerships, government support, and technology development are helping manufacturers and logistics providers identify ways to grow sustainably. By targeting these key applications, the market can continue to expand while improving efficiency and reducing emissions. The following five growth areas are driving the future of the class 8 truck market.

• Long-Haul Electric Trucking: Long-haul electric trucking presents a strong growth opportunity as battery ranges improve and charging infrastructure expands. These trucks help reduce fuel costs and emissions over long distances. Government incentives support fleet adoption, while manufacturers are offering models with extended ranges. Logistics companies are investing in route optimization to support electric freight. Long-haul electric trucking enables sustainable delivery across major freight corridors and helps companies comply with environmental regulations while reducing total operating expenses.
• Hydrogen-Powered Freight Corridors: Developing hydrogen-powered freight corridors is a strategic opportunity for regions with high cargo volumes and long routes. Hydrogen trucks offer fast refueling and long-range capabilities, making them ideal for heavy loads. Governments and private companies are building refueling infrastructure along key transport routes. These corridors provide reliable access to clean fuel, supporting long-distance freight operations. This growth opportunity helps reduce carbon emissions in sectors where electrification is challenging, ensuring sustainable logistics.
• Smart Urban Freight Solutions: Urban areas are driving growth in smart freight solutions to manage last-mile delivery challenges. Class 8 trucks with advanced telematics, GPS tracking, and eco-friendly engines are helping reduce congestion and emissions. City governments are supporting cleaner transport through low-emission zones and digital traffic management. Fleet operators are using real-time data to optimize routes and delivery schedules. Smart urban freight solutions offer growth by improving service levels, reducing environmental impact, and addressing increasing urban freight demands.
• Autonomous Freight Operations: Autonomous freight operations are emerging as a growth area due to labor shortages and demand for 24-hour operations. Testing of driverless Class 8 trucks is progressing, and regulations are adapting to support commercial deployment. Autonomous trucks can reduce operational costs, minimize human error, and increase productivity. Growth in this area helps companies scale logistics while improving safety and efficiency, making it a key focus for the future of freight transport.
• Connected Fleet Management Systems: Connected fleet management systems offer growth by providing real-time insights into truck performance, driver behavior, and cargo status. These systems help reduce fuel consumption, maintenance costs, and delivery delays. Fleets using connected technologies can improve compliance and customer service. The rise of the Internet of Things is driving innovation in connected systems, enabling smarter operations. Growth in this area helps companies manage large fleets more efficiently and respond quickly to logistical challenges.

Strategic growth opportunities in the class 8 truck market are focused on sustainable, efficient, and technology-driven applications. Long-haul electrification, hydrogen freight corridors, smart urban freight, autonomous operations, and connected fleet systems are helping the industry expand while reducing costs and emissions. These opportunities are driving the next phase of development in global freight transport.

Class 8 Truck Market Drivers and Challenges

The class 8 truck market is influenced by several key drivers and challenges as it transitions to more sustainable and efficient operations. Technological advancements, economic conditions, and regulatory changes are shaping the future of heavy-duty transportation. While the demand for greener and smarter trucks is driving innovation, the industry also faces barriers such as high costs and infrastructure limitations. Understanding these factors is essential for market participants to develop strategies, address operational hurdles, and achieve long-term growth.

The factors responsible for driving the class 8 truck market include:

• Increasing Demand for Zero-Emission Trucks: Stricter emission regulations and growing environmental concerns are driving the demand for zero-emission Class 8 trucks. Fleets are adopting electric and hydrogen-powered trucks to meet government targets and reduce their carbon footprints. Incentives and funding programs are supporting the transition to cleaner vehicles. As customers prioritize sustainability, manufacturers are investing in new technologies to meet this demand. This driver is reshaping the market by accelerating the development and deployment of eco-friendly freight solutions.
• Rising Fuel Costs: Fluctuating and increasing fuel prices are encouraging fleets to seek alternatives to traditional diesel-powered trucks. High fuel costs have a direct impact on operational expenses, leading companies to adopt electric, hybrid, and alternative fuel vehicles. This trend is driving innovation in powertrain technologies and increasing investment in energy-efficient trucks. Rising fuel costs are acting as a strong driver for the market to shift towards sustainable and cost-effective transportation methods.
• Advancements in Autonomous Technology: The development of autonomous driving features is enhancing safety, reducing driver fatigue, and improving efficiency in the class 8 truck market. Automated systems such as adaptive cruise control and lane-keeping assist are becoming standard in new trucks. These advancements address labor shortages and optimize long-haul freight operations. The continuous improvement of autonomous technology is driving the adoption of smarter trucks, making freight transport more reliable and scalable.
• Growth of E-Commerce: The rapid expansion of e-commerce is increasing demand for efficient freight transportation. More goods are being moved across long distances, requiring reliable Class 8 trucks for timely deliveries. This growth is driving investment in logistics infrastructure, route optimization, and fleet modernization. E-commerce has become a significant driver of freight activity, pushing manufacturers and logistics providers to adapt to higher volumes and faster delivery expectations.
• Government Support and Incentives: Many governments are offering subsidies, tax benefits, and funding programs to encourage the adoption of cleaner trucks and advanced technologies. Policies focused on reducing greenhouse gas emissions are creating favorable conditions for manufacturers and fleet operators to invest in electric and hydrogen trucks. Regulatory support is helping lower the cost of new technologies and accelerate their entry into the market. This driver is essential for the widespread adoption of sustainable solutions in the Class 8 truck segment.

Challenges in the class 8 truck market are:

• High Initial Cost of New Technologies: One of the main challenges in the class 8 truck market is the high upfront cost of electric, hydrogen, and autonomous trucks. These vehicles require significant investment, which can be difficult for small and medium-sized fleets. Although operating costs may be lower over time, the initial purchase price remains a barrier to adoption. This challenge slows the pace of transition to new technologies despite the long-term benefits.
• Limited Charging and Refueling Infrastructure: The lack of widespread charging stations for electric trucks and hydrogen refueling points is a major challenge. Without adequate infrastructure, long-haul operations become difficult to manage. Fleets face route restrictions and downtime while waiting for access to charging or refueling. This limitation affects the scalability of zero-emission trucks and delays the broader deployment of alternative fuel solutions.
• Supply Chain Disruptions: Global supply chain disruptions are affecting the availability of critical components for Class 8 trucks, including semiconductors, batteries, and advanced materials. Delays in production and delivery increase costs and limit the ability of manufacturers to meet demand. Supply chain instability creates uncertainty in planning and hinders market growth by restricting the rollout of new truck models and technologies.

The class 8 truck market is evolving under the influence of strong drivers and persistent challenges. While the demand for zero-emission trucks, rising fuel costs, autonomous technology, e-commerce growth, and government support are pushing the industry forward, obstacles such as high initial costs, limited infrastructure, and supply chain disruptions are slowing progress. Successfully managing these factors will determine how quickly the market can achieve sustainable and efficient freight solutions on a global scale.

List of Class 8 Truck Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies class 8 truck companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.

Some of the class 8 truck companies profiled in this report include:

• Daimler
• Volvo Group
• Bell Trucks America
• Komatsu
• John Deere
• Caterpillar
• Hitachi
• Liebherr Group
• Doosan
• Volkswagen Group

Class 8 Truck Market by Segment

The study includes a forecast for the global class 8 truck market by type, application, and region.

Type [Value from 2019 to 2031]:

• Diesel Truck
• Electric Truck
• Hybrid Truck
• LNG Truck

Application [Value from 2019 to 2031]:

• Construction
• Mining
• Transportation

Region [Value from 2019 to 2031]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

Country-Wise Outlook for the Class 8 Truck Market

Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major class 8 truck producers in key regions: the USA, China, India, Japan, and Germany

• United States: The class 8 truck market in the United States is growing through the increased use of electric trucks, advanced safety features, and telematics systems. Government regulations promoting lower emissions are driving the adoption of alternative powertrains. Significant investments are being made in charging infrastructure to support electric truck operations. Fleet operators are using smart technologies to improve efficiency and reduce costs. Partnerships between manufacturers and logistics companies are creating innovative solutions. Rising fuel prices are also encouraging the use of electric vehicles. These advancements are making the United States a leader in sustainable freight transport.
• China: The class 8 truck market in China is expanding through the rapid adoption of electric and hydrogen-powered trucks. Government incentives and strict emission policies are driving demand for clean energy vehicles. The growing e-commerce industry is increasing the need for reliable and efficient freight solutions. Investment in charging and hydrogen refueling infrastructure is supporting this transition. Manufacturers are focusing on producing high-performance trucks that are cost-effective and meet regulatory requirements. Competition is driving innovation in battery technology and fuel efficiency. These developments are helping China reduce carbon emissions and modernize its freight transportation industry.
• Germany: The class 8 truck market in Germany is advancing through the development of electric and hydrogen-powered trucks to meet strict European emission standards. Government subsidies are supporting the transition to low-emission vehicles. Digital solutions are improving route planning, safety, and fleet management. Manufacturers are partnering with logistics companies to create smart transport networks. Autonomous driving features are being tested to enhance efficiency. Infrastructure for alternative fuels is expanding, helping reduce the environmental impact of freight transport. Germany is becoming a global leader in sustainable heavy-duty trucks by focusing on innovation and environmental responsibility.
• India: The class 8 truck market in India is growing through infrastructure development, regulatory reforms, and increased demand for alternative fuels. Government policies are promoting electric and natural gas-powered trucks to reduce emissions. Rising demand in construction and mining sectors is creating a need for durable and fuel-efficient vehicles. Manufacturers are developing affordable trucks with advanced safety and telematics features to serve domestic and export markets. Incentives are encouraging the adoption of cleaner technologies. These developments are positioning India as an emerging market for sustainable heavy-duty vehicles and strengthening its role in global freight transport.
• Japan: The class 8 truck market in Japan is evolving through the adoption of hydrogen fuel cell trucks and autonomous driving technologies. Government support for decarbonization is accelerating the development of clean energy vehicles. Investments in intelligent transport systems are improving logistics efficiency and road safety. Manufacturers are collaborating with logistics providers to create automated freight solutions. Testing of driverless trucks is progressing, aiming to address labor shortages and improve operations. Infrastructure for hydrogen refueling is expanding, supporting long-distance transport. These advancements are helping Japan lead the shift towards a low-emission and highly automated trucking industry.

Features of this Global Class 8 Truck Market Report

• Market Size Estimates: Class 8 truck market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2019 to 2024) and forecast (2025 to 2031) by various segments and regions.
• Segmentation Analysis: Class 8 truck market size by type, application, and region in terms of value ($B).
• Regional Analysis: Class 8 truck market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the class 8 truck market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the class 8 truck market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers the following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the class 8 truck market by type (diesel truck, electric truck, hybrid truck, and LNG truck), application (construction, mining, and transportation), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?