Class 2 Trucks Market Size

Class 2 Trucks Market Size

Class 2 Trucks Market size was valued at USD 649 million in 2023 and is estimated to register a CAGR of over 9% between 2024 and 2032. The emergence of e-commerce has raised the need for effective last-mile delivery services. Class 2 trucks are a preferred option for delivery services and logistics providers because of their adaptability, cargo capacity, and city-dwelling capability, particularly full-size vans.

Class 2 trucks are used by the home repair, construction, landscaping, and catering industries to move workers, supplies, equipment, and tools to job sites. Class 2 trucks are becoming more and more necessary to support the operations of these service industries as they expand.

The growth of the manufacturing industry across various regions across the globe is a key factor driving the class 2 trucks market growth. For instance, according to the National Institute of Standards and Technology, in 2022, manufacturing generated USD 2.3 trillion, or 11.4% of the entire U.S. GDP. Moreover, manufacturing's value-added, both direct and indirect (i.e., purchases from other industries), was projected to have contributed 24% of GDP.

In comparison to passenger automobiles, class 2 trucks, particularly those with larger engines or towing capacities, may have inferior fuel efficiency. Increased operational expenses and environmental issues are a result of high fuel use, especially in areas with strict emissions rules.

Due to their higher center of gravity and propensity for rollover accidents, class 2 trucks—pickup trucks in particular—are more likely to be involved in collisions when loaded or carrying large trailers. Furthermore, compared to passenger cars, Class 2 trucks might not have as many standard or widely available safety features as Class 1 vehicles, such as advanced driver assistance systems (ADAS)