474.96K units growth in the heavy-duty truck market | With key players including AB Volvo, BYD Co. Ltd. and CNH Industrial NV


NEW YORK, November 2, 2021 / PRNewswire / – The heavy-duty truck market size is expected to grow by 474.96,000 units between 2020 and 2025. However, the growth momentum is expected to slow to a CAGR of nearly 6% during the forecast period. The report offers up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

Attractive Opportunities in Heavy Duty Truck Market by GVWR and Geography – Forecast and Analysis 2021-2025

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Factors such as the growing demand for heavy trucks in emerging countries and the increasing demand for heavy trucks from truck rental service providers will provide immense opportunities for growth. To take advantage of current opportunities, market sellers need to strengthen their presence in fast growing segments, while maintaining their positions in slow growing segments. The heavy duty truck market is concentrated and the degree of concentration will slow down during the forecast period.

The report covers the following areas:

Heavy Truck Market 2021-2025: Segmentation

The class 8 segment generated maximum revenue in the market in 2020. The market growth in the segment is expected to be significant during the forecast period. The growth of the segment is mainly driven by the mining and construction industries worldwide. By region, the market will experience maximum growth in APAC during the forecast period. Factors such as high demand for heavy duty trucks from construction industry, expanding population and increasing economic activities in emerging countries are driving the growth of heavy duty truck market in APAC during the forecast period .

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Heavy Duty Truck Market 2021-2025: Analysis and Scope of Suppliers

To help companies improve their market position, the heavy goods vehicle market provides a detailed analysis of about 25 vendors operating in the market. Some of these suppliers include AB Volvo, BYD Co. Ltd., CNH Industrial NV, Daimler AG, Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Scania AB, Tesla Inc. and Volkswagen AG.

The heavy truck market is concentrated and the degree of concentration will slow down. The growing demand for heavy goods vehicles in emerging countries will offer immense growth opportunities. However, the high manufacturing costs of heavy duty trucks will hamper the growth of the market.

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Heavy Truck Market 2021-2025: Highlights

  • Market CAGR during the forecast period 2021-2025

  • Detailed information on the factors that will help the heavy duty truck market growth over the next five years

  • Estimated Heavy Truck Market Size and Its Contribution to Parent Market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the heavy goods vehicle market

  • Market competitive landscape analysis and detailed supplier information

  • Complete details of the factors that will challenge the growth of heavy duty truck vendors market

Associated reports:
Global Dump Truck Market – The global dump truck market is segmented by application (construction, mining and agriculture) and geography (APAC, North America, Europe, South America, and MEA).
Download an exclusive free sample report

Global Forklift Market – The global forklift truck market is segmented by type (Class V, Class III, Class I, Class II and Class IV) and geography (APAC, Europe, North America, MEA and South America).
Download an exclusive free sample report

Scope of the heavy-duty truck market

Cover of the report


Page number


Year of reference


Forecast period


Growth dynamics and CAGR

Decelerate to a CAGR of almost 6%

Market growth 2021-2025

474.96 thousand units

Market structure


Annual growth (%)


Regional analysis

APAC, Europe, North America, South America and MEA

Efficient contribution to the market

APAC at 58%

Main consumer countries

China, United States, India, Germany and Brazil

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

AB Volvo, BYD Co. Ltd., CNH Industrial NV, Daimler AG, Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Scania AB, Tesla Inc. and Volkswagen AG.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.


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