Automotive Heavy Trucks Market Trends, Sector Overview and Forecast to 2028

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Published: March 29, 2024 Report Code: GDAUS450324-ST

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The global heavy-duty truck market was at 3.2 mn units in 2023. However, the sector posted a negative CAGR of 1.9% during 2018–23. Over the forecast period, the sector is expected to record a CAGR of 2.8% to reach 3.7 mn units by 2028. The top companies operating in the global heavy trucks are Daimler Trucks, Volvo Trucks, TRATON Group, FAW Group, Paccar, and CNHTC Group.

This report brings together multiple data sources to provide a comprehensive overview of the global heavy trucks sector. It includes analysis on the following –

Trends & Drivers: Provides an overview of current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.

Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.

PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.

Sector Forecast: Provides deep-dive analysis of global market covering volume growth during 2017–2026, and spot estimates for 2030 and 2036. The analysis also covers regional overview across four regions-Asia-Pacific, Europe, North America, South America and MEA-highlighting sector size, and growth drivers for the region.

Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.

Patent Analysis: Provides an overview of patent filings in the sector across regions, countries and top applicants.

Automotive Heavy Trucks Market Trends

The key trends shaping the automotive heavy trucks market are an increase in construction activities and new logistics, digitalization, and the rise of autonomous heavy-duty trucks​.

  • Digitalization: Digital technology advancements in the heavy trucks market will open new implementation opportunities like in the case of sophisticated truck telematics. Additionally, AI-based optimal solutions reduce expenses, consumption, and blockages.

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Automotive Heavy Trucks Market Segmentation by Regions

In 2023, Asia-Pacific accounted for the highest share among all the regions

The key regions in the automotive heavy trucks market are Asia-Pacific, Europe, North America, South America, and MEA. The Asia-Pacific region is a major global industrial hub that fuels the demand for heavy and medium trucks. The region’s thriving e-commerce industry is driving further growth of the heavy trucks market via last-mile delivery and logistics operations.

Automotive Heavy Trucks Market Analysis by Regions, 2023 (%)

Automotive Heavy Trucks Market Analysis by Regions, 2023 (%)

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Automotive Heavy Trucks Market – Competitive Landscape

Daimler Trucks accounted for the highest market share in 2021

A few of the top companies operating in the market are:

  • Daimler Trucks
  • Volvo Trucks
  • TRATON Group
  • FAW Group
  • Paccar

Daimler Truck introduced hydrogen-powered, zero-emission trucks that run on liquid hydrogen instead of diesel and emit only water vapor.

The company is also taking strategic actions to aid the heavy truck systems market growth. In May 2023, Daimler Truck, Mitsubishi Fuso, Hino, and Toyota Motor Corporation reached a Memorandum of Understanding. It was about the acceleration of Advanced Technology research and the merger of Mitsubishi Fuso and Hino Motors. ​

Automotive Heavy Trucks Market Analysis by Companies, 2021 (%)

Automotive Heavy Trucks Market Analysis by Companies, 2021 (%)

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Automotive Heavy Trucks Market – Latest Developments

A few of the latest developments in the automotive heavy trucks market are as follows:

  • 11th July 2023: The latest e-mobility kit from ZF’s Commercial Vehicle Solutions (CVS) business includes modular e-driveline systems. These systems are appropriate for light delivery vehicles weighing up to 44-ton trucks and trailers.
  • 15th June 2023: Al Futtaim Auto and Machinery Company (Famco) announced the introduction of the first-ever heavy-duty electric vehicle from Volvo, the world’s largest automaker, in the Middle East.

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Segments Covered in this Report

Automotive Heavy Trucks Regional Outlook (Value, Million Units, 2018-2028)

  • Asia-Pacific
  • Europe
  • North America
  • South America
  • MEA

Scope

This report brings together multiple data sources to provide a comprehensive overview of the global heavy trucks sector. It includes an analysis of the following: ​

Trends & Drivers: Provides an overview of the current sector scenario regarding the future outlook in terms of key trends and drivers of the sector. ​

Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.​

PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.​

Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2017–2026, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions-Asia-Pacific, Europe, North America, South America, and MEA-highlighting sector size, and growth drivers for the region.​

Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.​

Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.

Reasons to Buy

Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region. The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances. The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion. To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.

Daimler Trucks
Volvo Trucks
TRATON Group
FAW Group
Paccar
CNHTC Group.

Table of Contents

Executive Summary

Part 1: Main Trends and Drivers

Trends

Drivers

Part 2: Technologies and Developments

Part 3: PESTER Analysis

Part 4: Sector Forecast

Asia-Pacific Market Growth Analysis

European Market Growth Analysis

North American Market Growth Analysis

South America Market Growth Analysis

MEA Market Growth Analysis

Part 5: Latest Developments

Part 6: Key Companies

Part 7: Patent Analysis

Part 8: Appendix

Table

List of Tables

Table 1: Emission standards for HD diesel and gas engines (durability: 160,000km/5 years)

Table 2: EU emission standards for HD diesel engines, g/kWh (smoke in m-1)

Table 3: Emission standards for diesel and gas engines, ETC test, g/kWh

Table 4: Emission standards for diesel truck and bus engines, g/kWh

Table 5: Diesel emission standards for heavy commercial vehicles, GVW >3500kg (>2500kg before 2005)

Table 6: Emission requirements for diesel truck and bus engines

Table 7: Emission requirements for heavy-duty engines

Figures

List of Tables

Table 1: Emission standards for HD diesel and gas engines (durability: 160,000km/5 years)

Table 2: EU emission standards for HD diesel engines, g/kWh (smoke in m-1)

Table 3: Emission standards for diesel and gas engines, ETC test, g/kWh

Table 4: Emission standards for diesel truck and bus engines, g/kWh

Table 5: Diesel emission standards for heavy commercial vehicles, GVW >3500kg (>2500kg before 2005)

Table 6: Emission requirements for diesel truck and bus engines

Table 7: Emission requirements for heavy-duty engines

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