The Commercial Trucks Market is expected to register a CAGR of 6.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The market is segmented into by truck type, propulsion type, and by end-use industry. The truck type segment is divided tino Front Loaders, Rear Loaders, Side Loaders. Based on propulsion type, the market is segmented into ICE and electric.
Purpose of the ReportThe report Commercial Trucks Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Commercial Trucks Market Segmentation
Propulsion Type- ICE and Electric
- Front Loaders
- Rear Loaders
- Side Loaders
Strategic Insights
Commercial Trucks Market Growth Drivers- Growth in E-commerce: E-commerce has exploded commercial truck demand significantly. More people are shopping online than ever, and for this, the logistics and freight companies require plenty of trucks to transport their shipments. And because of this demand, the market for commercial trucks increases.
- Rise in Infrastrucutre Investment: Infrastructure development in terms of road construction and improvement stimulates the demand for commercial trucks because improved road networks enhance better logistical facilitation of transport which promotes businesses to invest in new trucks to maximize their delivery capabilities.
- Urbanization and Distribution Needs: As more people move to urban areas, there is a greater need for last-mile delivery services. This is increasing the demand for light-duty commercial trucks, particularly for last-mile delivery, such as courier services, food delivery, and other logistics solutions.
- Growing Focus on Sustainability: One of the contemporary trends is the electric trucking commercial sector, where companies rush to reduce carbon emissions and comply strictly with environmental regulations. This escalated demand for electric models has prompted manufacturers to develop much more sophisticated and advanced models of electric vehicles, further shaping the market.
- Integration of telematics and connectivity features is increasingly becoming present in commercial trucks. The fleet management systems use real-time data to help businesses optimize routes, reduce fuel consumption, and so on. Hence, connected trucks are more appealing to the operator of a fleet.
- Demand for Freight Capacity and Delivery Speed: With the rise of e-commerce, there is increasing demand for faster delivery times. This has led to a greater need for more commercial trucks capable of meeting tight delivery schedules, particularly for perishable goods, high-demand items, and consumer products. This trend is pushing the need for high-capacity trucks, as well as specialized vehicles for specific purposes like refrigerated trucks.
- Growth in last Mile Delivery Solutions: Making last-mile delivery solutions efficient creates an opportunity for manufacturers to design smaller, agile commercial trucks for urban environments. These can be responded to by growth in the demand for fast and efficient delivery services within urban areas.
- Focus on Autonomous Driving: The autonomous driving technology opportunity is enormous within the commercial truck market. Although companies spend amounts to invest in self-driving technology, there lies potential for labor cost savings and improved safety, enhancing operational efficiencies that will lead to a new era in logistics and transportation.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Commercial Trucks Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Commercial Trucks Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Ashok Leyland, Daimler AG, Volkswagon AG, Toyota Motor Corporation, Mahindra and Mahindra, Tata Motors Limited. AB Volvo, Golden Dragon, General Motors, Isuzu Motors Co. and Others
The high capital requirements to manufacture the commercial trucks hinders the market growth.
The Commercial Trucks Market is estimated to witness a CAGR of 6.5% from 2023 to 2031
The major factors driving the Commercial Trucks Market are: Increasing e-commerce industry growth with surge in demand for the trucks in logistics sector drives the market growth
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Commercial Truck Market - By Propulsion Type
1.3.2Commercial Truck Market - By Truck Type
1.3.3Commercial Truck Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.COMMERCIAL TRUCK MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.COMMERCIAL TRUCK MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.COMMERCIAL TRUCK MARKET - GLOBAL MARKET ANALYSIS
6.1.COMMERCIAL TRUCK - GLOBAL MARKET OVERVIEW
6.2.COMMERCIAL TRUCK - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.COMMERCIAL TRUCK MARKET - REVENUE AND FORECASTS TO 2028 PROPULSION TYPE
7.1.OVERVIEW
7.2.PROPULSION TYPE MARKET FORECASTS AND ANALYSIS
7.3.DIESEL
7.3.1.Overview
7.3.2.Diesel Market Forecast and Analysis
7.4.GASOLINE
7.4.1.Overview
7.4.2.Gasoline Market Forecast and Analysis
7.5.CNG
7.5.1.Overview
7.5.2.CNG Market Forecast and Analysis
7.6.ELECTRIC
7.6.1.Overview
7.6.2.Electric Market Forecast and Analysis
7.7.HYBRID
7.7.1.Overview
7.7.2.Hybrid Market Forecast and Analysis
8.COMMERCIAL TRUCK MARKET - REVENUE AND FORECASTS TO 2028 TRUCK TYPE
8.1.OVERVIEW
8.2.TRUCK TYPE MARKET FORECASTS AND ANALYSIS
8.3.LCV
8.3.1.Overview
8.3.2.LCV Market Forecast and Analysis
8.4.M AND HCV
8.4.1.Overview
8.4.2.M and HCV Market Forecast and Analysis
9.COMMERCIAL TRUCK MARKET REVENUE AND FORECASTS TO 2028 GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Commercial Truck Market Overview
9.1.2North America Commercial Truck Market Forecasts and Analysis
9.1.3North America Commercial Truck Market Forecasts and Analysis - By Propulsion Type
9.1.4North America Commercial Truck Market Forecasts and Analysis - By Truck Type
9.1.5North America Commercial Truck Market Forecasts and Analysis - By Countries
9.1.5.1United States Commercial Truck Market
9.1.5.1.1United States Commercial Truck Market by Propulsion Type
9.1.5.1.2United States Commercial Truck Market by Truck Type
9.1.5.2Canada Commercial Truck Market
9.1.5.2.1Canada Commercial Truck Market by Propulsion Type
9.1.5.2.2Canada Commercial Truck Market by Truck Type
9.1.5.3Mexico Commercial Truck Market
9.1.5.3.1Mexico Commercial Truck Market by Propulsion Type
9.1.5.3.2Mexico Commercial Truck Market by Truck Type
9.2.EUROPE
9.2.1Europe Commercial Truck Market Overview
9.2.2Europe Commercial Truck Market Forecasts and Analysis
9.2.3Europe Commercial Truck Market Forecasts and Analysis - By Propulsion Type
9.2.4Europe Commercial Truck Market Forecasts and Analysis - By Truck Type
9.2.5Europe Commercial Truck Market Forecasts and Analysis - By Countries
9.2.5.1Germany Commercial Truck Market
9.2.5.1.1Germany Commercial Truck Market by Propulsion Type
9.2.5.1.2Germany Commercial Truck Market by Truck Type
9.2.5.2France Commercial Truck Market
9.2.5.2.1France Commercial Truck Market by Propulsion Type
9.2.5.2.2France Commercial Truck Market by Truck Type
9.2.5.3Italy Commercial Truck Market
9.2.5.3.1Italy Commercial Truck Market by Propulsion Type
9.2.5.3.2Italy Commercial Truck Market by Truck Type
9.2.5.4United Kingdom Commercial Truck Market
9.2.5.4.1United Kingdom Commercial Truck Market by Propulsion Type
9.2.5.4.2United Kingdom Commercial Truck Market by Truck Type
9.2.5.5Russia Commercial Truck Market
9.2.5.5.1Russia Commercial Truck Market by Propulsion Type
9.2.5.5.2Russia Commercial Truck Market by Truck Type
9.2.5.6Rest of Europe Commercial Truck Market
9.2.5.6.1Rest of Europe Commercial Truck Market by Propulsion Type
9.2.5.6.2Rest of Europe Commercial Truck Market by Truck Type
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Commercial Truck Market Overview
9.3.2Asia-Pacific Commercial Truck Market Forecasts and Analysis
9.3.3Asia-Pacific Commercial Truck Market Forecasts and Analysis - By Propulsion Type
9.3.4Asia-Pacific Commercial Truck Market Forecasts and Analysis - By Truck Type
9.3.5Asia-Pacific Commercial Truck Market Forecasts and Analysis - By Countries
9.3.5.1Australia Commercial Truck Market
9.3.5.1.1Australia Commercial Truck Market by Propulsion Type
9.3.5.1.2Australia Commercial Truck Market by Truck Type
9.3.5.2China Commercial Truck Market
9.3.5.2.1China Commercial Truck Market by Propulsion Type
9.3.5.2.2China Commercial Truck Market by Truck Type
9.3.5.3India Commercial Truck Market
9.3.5.3.1India Commercial Truck Market by Propulsion Type
9.3.5.3.2India Commercial Truck Market by Truck Type
9.3.5.4Japan Commercial Truck Market
9.3.5.4.1Japan Commercial Truck Market by Propulsion Type
9.3.5.4.2Japan Commercial Truck Market by Truck Type
9.3.5.5South Korea Commercial Truck Market
9.3.5.5.1South Korea Commercial Truck Market by Propulsion Type
9.3.5.5.2South Korea Commercial Truck Market by Truck Type
9.3.5.6Philippines Commercial Truck Market
9.3.5.6.1Philippines Commercial Truck Market by Propulsion Type
9.3.5.6.2Philippines Commercial Truck Market by Truck Type
9.3.5.7Vietnam Commercial Truck Market
9.3.5.7.1Vietnam Commercial Truck Market by Propulsion Type
9.3.5.7.2Vietnam Commercial Truck Market by Truck Type
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Commercial Truck Market Overview
9.4.2Middle East and Africa Commercial Truck Market Forecasts and Analysis
9.4.3Middle East and Africa Commercial Truck Market Forecasts and Analysis - By Propulsion Type
9.4.4Middle East and Africa Commercial Truck Market Forecasts and Analysis - By Truck Type
9.4.5Middle East and Africa Commercial Truck Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Commercial Truck Market
9.4.5.1.1South Africa Commercial Truck Market by Propulsion Type
9.4.5.1.2South Africa Commercial Truck Market by Truck Type
9.4.5.2Saudi Arabia Commercial Truck Market
9.4.5.2.1Saudi Arabia Commercial Truck Market by Propulsion Type
9.4.5.2.2Saudi Arabia Commercial Truck Market by Truck Type
9.4.5.3U.A.E Commercial Truck Market
9.4.5.3.1U.A.E Commercial Truck Market by Propulsion Type
9.4.5.3.2U.A.E Commercial Truck Market by Truck Type
9.4.5.4Iran Commercial Truck Market
9.4.5.4.1Iran Commercial Truck Market by Propulsion Type
9.4.5.4.2Iran Commercial Truck Market by Truck Type
9.4.5.5Rest of Middle East and Africa Commercial Truck Market
9.4.5.5.1Rest of Middle East and Africa Commercial Truck Market by Propulsion Type
9.4.5.5.2Rest of Middle East and Africa Commercial Truck Market by Truck Type
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Commercial Truck Market Overview
9.5.2South and Central America Commercial Truck Market Forecasts and Analysis
9.5.3South and Central America Commercial Truck Market Forecasts and Analysis - By Propulsion Type
9.5.4South and Central America Commercial Truck Market Forecasts and Analysis - By Truck Type
9.5.5South and Central America Commercial Truck Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Commercial Truck Market
9.5.5.1.1Brazil Commercial Truck Market by Propulsion Type
9.5.5.1.2Brazil Commercial Truck Market by Truck Type
9.5.5.2Argentina Commercial Truck Market
9.5.5.2.1Argentina Commercial Truck Market by Propulsion Type
9.5.5.2.2Argentina Commercial Truck Market by Truck Type
9.5.5.3Rest of South and Central America Commercial Truck Market
9.5.5.3.1Rest of South and Central America Commercial Truck Market by Propulsion Type
9.5.5.3.2Rest of South and Central America Commercial Truck Market by Truck Type
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.COMMERCIAL TRUCK MARKET, KEY COMPANY PROFILES
11.1.AB VOLVO
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.DAIMLER AG
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.DONGFENG COMMERCIAL VEHICLE COMPANY LIMITED
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.HINO MOTORS SALES U.S.A., INC.
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.IVECO - A CNH INDUSTRIAL COMPANY
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.MAN (TRATON GROUP)
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.NAVISTAR, INC.
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.PACCAR INC.
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SCANIA AB
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.TATA MOTORS
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. AB Volvo
2. Daimler AG
3. Dongfeng Commercial Vehicle Company Limited
4. HINO MOTORS SALES U.S.A., INC.
5. IVECO - A CNH INDUSTRIAL COMPANY
6. MAN (TRATON GROUP)
7. Navistar, Inc.
8. PACCAR Inc.
9. Scania AB
10. Tata Motors
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For