PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1786052
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1786052
Global Commercial Trucks Market to Reach US$13.2 Trillion by 2030
The global market for Commercial Trucks estimated at US$9.3 Trillion in the year 2024, is expected to reach US$13.2 Trillion by 2030, growing at a CAGR of 5.9% over the analysis period 2024-2030. Diesel Fuel, one of the segments analyzed in the report, is expected to record a 6.7% CAGR and reach US$7.1 Trillion by the end of the analysis period. Growth in the Natural Gas Fuel segment is estimated at 5.7% CAGR over the analysis period.
The U.S. Market is Estimated at US$2.5 Trillion While China is Forecast to Grow at 9.4% CAGR
The Commercial Trucks market in the U.S. is estimated at US$2.5 Trillion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$2.7 Trillion by the year 2030 trailing a CAGR of 9.4% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.8% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
The global commercial truck market has witnessed significant growth as industries such as logistics, construction, e-commerce, and manufacturing increasingly rely on efficient transportation solutions to support supply chain operations. The surge in online retail and last-mile delivery services has driven demand for light- and medium-duty trucks, while heavy-duty trucks remain essential for long-haul freight transportation, mining, and industrial applications. The expansion of trade routes, infrastructure development projects, and rising urbanization have further accelerated market demand, prompting fleet operators to invest in high-performance, fuel-efficient commercial trucks. Additionally, government policies promoting road freight transport and emission regulations have influenced the adoption of new-generation commercial trucks that prioritize fuel efficiency and sustainability. As businesses continue to expand their logistics networks, the demand for technologically advanced and environmentally friendly commercial trucks is expected to rise, shaping the future of the trucking industry.
Advancements in automotive technology, including electrification, autonomous driving, and telematics, have revolutionized the commercial truck industry, improving efficiency, safety, and operational intelligence. The rise of electric commercial trucks has gained traction as governments and fleet operators push for carbon-neutral transportation solutions, reducing dependence on diesel-powered vehicles. Additionally, the development of autonomous and semi-autonomous truck technologies, including advanced driver-assistance systems (ADAS), collision avoidance systems, and lane-keeping assistance, has enhanced road safety and efficiency. Telematics and fleet management software solutions have further optimized truck operations, providing real-time data on vehicle performance, route planning, and fuel consumption. The integration of AI and IoT connectivity has enabled predictive maintenance, minimizing downtime and reducing operational costs for fleet owners. With ongoing research into hydrogen fuel cells and battery-powered trucking solutions, the commercial truck market is moving toward a more sustainable and technologically advanced future.
Despite strong market growth, the commercial truck industry faces several challenges, including stringent emissions regulations, high vehicle acquisition costs, and supply chain disruptions. Regulatory policies aimed at reducing greenhouse gas emissions have compelled truck manufacturers to invest in cleaner fuel alternatives and hybrid truck models, increasing production costs and pricing pressures. Additionally, the transition to electric and autonomous commercial trucks requires significant infrastructure investments, including charging networks and software upgrades, creating adoption barriers for fleet operators. Supply chain disruptions, including semiconductor shortages and rising raw material costs, have further impacted truck manufacturing and delivery timelines. Labor shortages in the trucking industry, particularly among long-haul drivers, also present challenges in maintaining efficient logistics operations. Addressing these concerns will require continued innovation in vehicle electrification, alternative fuel development, and regulatory alignment to support sustainable trucking solutions.
The growth in the commercial truck market is driven by several factors, including rising e-commerce demand, government investments in transportation infrastructure, and advancements in fuel-efficient vehicle technologies. The rapid expansion of online shopping and home delivery services has increased the need for efficient last-mile logistics, boosting demand for small and medium-duty delivery trucks. Government initiatives promoting sustainable freight transport and smart mobility solutions have further encouraged fleet operators to adopt low-emission and electric commercial trucks. Additionally, the ongoing development of smart highways and connected vehicle technologies has improved the efficiency and reliability of commercial trucking operations. The growing adoption of AI-driven fleet management systems and digital logistics platforms has also contributed to market expansion, enabling data-driven decision-making and route optimization. With increasing investments in clean energy transportation, automation, and infrastructure upgrades, the commercial truck market is expected to experience sustained growth, redefining the future of freight and logistics worldwide.
SCOPE OF STUDY:
The report analyzes the Commercial Trucks market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Fuel (Diesel Fuel, Natural Gas Fuel, Hybrid Electric Fuel, Other Fuels); Application (Freight Delivery Application, Utility Services Application, Construction and Mining Application, Other Applications)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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