North America Truck Market, By Country, Competition, Forecast & Opportunities, 2020-2030F

The North America Truck Market was valued at USD 298.55 Billion in 2024, and is expected to reach USD 402.31 Billion by 2030, rising at a CAGR of 5.15%. The North America truck market is witnessing steady growth, fueled by increasing demand across logistics, construction, and e-commerce sectors. Technological advancements, such as telematics, autonomous driving features, and improved fuel efficiency, are reshaping fleet operations and enhancing productivity. The market is also seeing a notable shift toward electrification, driven by stringent emission regulations and growing environmental awareness.

Manufacturers are investing in electric and hybrid trucks to cater to sustainability goals and reduce operating costs. According to the U.S. Department of Transportation, as of March 2024, over 577,000 active U.S. motor carriers were registered with the FMCSA, each owning or leasing at least one tractor. Notably, 95.5% of these carriers operate 10 or fewer trucks, while 99.6% operate 100 or fewer. This overwhelming presence of small and mid-sized fleets significantly drives market demand for affordable, fuel-efficient, and easy-to-maintain trucks.

Market Drivers

Growth of E-Commerce and Last-Mile Delivery Demand

One of the most significant drivers of the North America truck market is the rapid expansion of the e-commerce sector. The increasing shift in consumer preferences toward online shopping has led to a surge in demand for reliable, fast, and flexible transportation and delivery solutions. This trend has intensified the need for both heavy-duty trucks for regional and intercity transportation, and light and medium-duty trucks for urban and last-mile deliveries. This strong growth in U.S. e-commerce surpassing UDS 1.117 trillion in 2023 and making up 15.6% of total retail drives significant demand for trucks to support fast, efficient, and scalable delivery operations across the country.

E-commerce giants and logistics providers are expanding their fleets and increasingly investing in trucks that can optimize delivery schedules, improve load efficiency, and lower operational costs. The demand for trucks that are suited for door-to-door deliveries, equipped with GPS tracking, route optimization systems, and real-time cargo monitoring features, is gaining momentum. Moreover, the continued growth in same-day and next-day delivery expectations is pushing businesses to expand their trucking capacities, directly influencing the market's growth trajectory.

Key Market Challenges

Driver Shortage and Workforce Constraints

One of the most persistent challenges in the North America truck market is the shortage of qualified drivers. Despite strong demand for freight transportation, the industry continues to struggle with attracting and retaining drivers, particularly for long-haul operations. An aging workforce, long hours, time away from home, and the physical demands of the job contribute to high attrition rates and low recruitment success.

The American Trucking Associations (ATA) has reported that the industry faces a shortage of tens of thousands of drivers, a number expected to grow if current trends continue. This shortage impacts delivery schedules, increases freight costs, and forces trucking companies to limit expansion or raise wages, which affects profit margins. Moreover, the pipeline of new drivers is not strong enough to meet the rising demand, especially as younger workers seek careers with more work-life balance and technological engagement.

Key Market Trends

Electrification and Shift Toward Zero-Emission Vehicles (ZEVs)

One of the most transformative trends in the North America truck market is the accelerating shift toward electrification and zero-emission vehicles. Driven by environmental concerns, stringent emissions regulations, and government incentives, electric trucks are emerging as a viable alternative to traditional diesel-powered vehicles. States like California have implemented mandates requiring fleets to adopt zero-emission vehicles in the coming years, while federal funding supports electric vehicle (EV) infrastructure and research.

Truck manufacturers such as Tesla, Freightliner, Volvo, and Lion Electric are investing heavily in electric truck development. Light-duty and medium-duty electric trucks are already being deployed for urban and last-mile deliveries, while battery technology advancements are enabling the development of long-haul electric trucks with greater range and payload capacity. In parallel, hydrogen fuel cell technology is being explored for heavy-duty applications requiring extended driving distances and quick refueling.

Key Market Players

• Daimler Truck North America LLC
• PACCAR Inc.
• Volvo Trucks North America Inc.
• ISUZU Commercial Truck of America Inc.
• Ford Motor Company
• Mack Trucks Inc.
• Navistar International Corporation
• General Motors
• Hino Motors Ltd
• FCA US LLC

Report Scope:

In this report, the North America Truck Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

North America Truck Market, By Class Type:

• Class 1
• Class 2
• Class 3
• Class 4
• Class 5
• Class 6
• Class 7
• Class 8

North America Truck Market, By Fuel Type:

• Diesel
• CNG
• Others

North America Truck Market, By Application:

• Logistics
• Construction
• Mining
• Others

North America Truck Market, By Country:

• United States
• Canada
• Mexico

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the North America Truck Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).