Heavy-Duty Truck Market Gears Up for Massive Growth with Innovation & Sustainability at the Forefront

OREGON, DE, UNITED STATES, March 3, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Heavy Duty Truck Market," The heavy duty truck market size was valued at $209,973.7 million in 2021, and is estimated to reach $328,363.9 million by 2031, growing at a CAGR of 4.8% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A10093

Rising demand for the commodity along with increased construction and infrastructure development are the main factors driving the demand for heavy duty trucks. Presently, trucks built are more reliable, more efficient, more fuel efficient and have higher payloads than trucks built before. However, technological advances have improved fuel efficiency, and new technology allows trucks to carry more weight than vehicles of the same power. As a result, the world faces a major problem of carrying heavy loads, which may lead to a decline in the use of more vehicles. Heavy trucks are also used as garbage and garbage collectors.

Report Coverage Details
Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $209,973.7 million
Market Size in 2031 $328363.9 million
CAGR 4.8%
No. of Pages in Report 335
Segments covered Truck Type, Tonnage type, Propulsion, Application, Axle Type, and Region
High payload capacity
Drivers
Greater availability of credit and financing options

Improvement of road infrastructure
Increasing need for transportation mediums for rural and semi-urban areas
Opportunities
Technology advancement in heavy duty trucks
Rising fuel prices

Restraints High maintenance cost of trucks

Growing carbon emission from the burning of diesel fuel

These trucks have advanced features, lightweight structure frame, and wider availability, increasing their market representation worldwide. Moreover, heavy-duty trucks comprise a trailer or a goods carrying space that provide easy and safe transportation. Hence, heavy-duty trucks are employed in diverse industries including logistics, construction, and Dump trucks. These trucks save time for the transportation of the goods and materials. For instance, in September 2021, Tata Motors announced its plans to invest over $1 billion, or an amount exceeding Rs 7,500 crore over the next 4-5 years to recreate its road-map for the commercial vehicle business, a major part of which comprises electric vehicles, which in turn propels the electric segment of heavy duty truck market.

Commercial trucks are broken down into the broad categories of light duty, medium duty, and heavy duty. The concept of heavy duty truck is typically attributed to the motor vehicle that are designed to transport cargo, carry specialized payloads, or perform other utilitarian work. Although, heavy-duty trucks are heavier than medium duty trucks. Their weight ranges between 26,001 lbs to over 33,000 lbs (11,794 kg to over 14,969 kg). Thus, heavy duty trucks are gaining traction owing to their high carrying capacity and strong suspension system useful in transportation activities. Majority of construction companies prefer heavy-duty trucks for carrying debris and materials at any terrain for long distances.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A10093

In addition, the heavy duty truck market has witnessed significant growth in recent years, owing to the growing need of consistent material supply to the power industries and debris removal to speed up the mining activities is accelerating the sale of sleeper cab class 8 heavy-duty trucks. Industry participants, such as Hyundai, Ashok Leyland, and Kenworth, are developing class 8 sleeper trucks for heavy operation across all sectors. Furthermore, the companies operating in the heavy duty truck market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in April 2020, Volvo Group and Daimler truck AG signed a non-binding agreement to form a new joint venture with a focus on the development of advanced fuel cell systems for heavy-duty commercial vehicle applications in Europe.

Furthermore, governments across the globe are taking initiatives to educate people about waste management and recycling. This, in turn, is expected to drive the global market of waste and subsequently, of heavy-duty trucks. India is projected to be a major market for waste or heavy-duty trucks during the forecast period, as government initiatives, such as smart-city and Swachh-Bharat, to create a healthy and clean environment are estimated to offer significant opportunity to the waste or heavy-duty trucks market.

Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly two-fifths of the global heavy duty truck market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 5.2% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/heavy-duty-truck-market/purchase-options

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.

About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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