Class 6 Trucks Market Size

Class 6 Trucks Market Size

Class 6 Trucks Market size was valued at USD 16.1 billion in 2023 and is estimated to register a CAGR of over 7% between 2024 and 2032. The surge in online shopping and e-commerce is driving market growth. E-commerce relies on effective delivery networks to transport goods from warehouses to customers. Class 6 trucks are suited for this application as they are larger than cargo vans but smaller than semi-trucks, allowing them to maneuver in metropolitan areas and through congested streets for final-mile delivery.

E-commerce often requires frequent deliveries over shorter distances, which corresponds to the normal routes of class 6 trucks. They can carry a wide range of cargo sizes and weights, making them flexible to the different requirements of online businesses. Their capacity to undertake shorter journeys enables repeated deliveries during the day, fulfilling the demand for faster turnaround times.

The growing urbanization in cities demanding more freight activity is fueling the adoption of class 6 trucks. As cities expand, there is an ongoing demand for building, maintenance, and utility services. Class 6 trucks are suitable for these activities as they can transport building materials to construction sites, carry specialized tools & equipment for utility personnel, and handle tight streets & obstacles in congested urban locations. Unlike bigger class 8 vehicles, class 6 trucks can easily handle narrow streets and tight corners in cities. This makes them excellent for delivery within the city limits.
 

Class 6 trucks outperform larger rigs in terms of fuel efficiency on shorter journeys. This is critical for enterprises operating in cost-constrained metropolitan areas. Many urban enterprises, particularly those in retail, use a just-in-time inventory management system. This means that they retain very little stock on hand and rely on regular delivery to satisfy consumer demands. Class 6 trucks are suited for such frequent deliveries, guaranteeing a smooth supply chain across the city.
 

In January 2024, the United Nations issued its "World Urbanization Prospects 2024" study, which predicts that by 2050, approximately 70% of the world population will live in cities, with urban populations increasing by 2.3 billion over the following 30 years. Rapid urbanization will put strain on infrastructure, housing, and public services in cities across the world and it demands the proper transportation of logistics and goods from one place to another, thereby fueling the demand for the class 6 truck market.
 

The high initial purchase price and ongoing operational costs are major challenges for the market, potentially slowing down its growth. Class 6 trucks can cost between USD 80,000 and USD 200,000 or more, depending on configuration and additional features. This is a significant investment for small and medium-sized firms, the key purchasers in this market category. The high initial cost could discourage potential customers, particularly those starting the trucking profession or trying to increase their fleet.
 

Even after the initial purchase, Class 6 vehicles have continuous operational expenditures, which can affect a company's cash flow. These expenses include gasoline, maintenance, insurance, and driver pay and perks. Many enterprises in the class 6 truck market, particularly those operating in specialist industries or with tight margins, struggle to create a solid profit owing to the high initial cost and recurring expenditures. This may discourage investments in new class 6 trucks, slowing market growth.