Product Code: A10093
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
By Tonnage type
- 10 to 15 metric ton
- More than 15 metric ton
By Propulsion
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
- 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