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Light Duty Truck Market Share

Report ID: GMI6595
Published Date: Aug 2023
Report Format: PDF

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Light Duty Truck Market Share

Major companies operating in the light duty truck market are

Scania
Daimler Cars
TuSimple, Inc.
Hino Carss
Waymo (Alphabet Inc.)
Tesla
AB Volvo
PACCAR Inc.
Navistar, Inc.
Embark Carss, Inc.
PlusAI, Inc.
Kodiak Robotics

They emphasize strategic partnerships, new product launches, and investments in research to drive market expansion. Their primary goal is to introduce innovative products and generate substantial market revenue through effective commercialization efforts.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of light duty truck reached USD 7.2 trillion in 2022 and is set to witness 9.2% CAGR from 2023 to 2032, due to the growing number of businesses focusing on efficient last-mile delivery and urban logistics worldwide.

The diesel fuel type segment recorded over 65% of the market share in 2022, on account of benefits, such as fuel efficiency and exceptional uptime.

Asia-Pacific was valued at 65% of the market share in 2022, owing to the growing adoption of trucks equipped with advanced features, improved efficiency, and modern designs in the region.

Scania, Daimler Cars, TuSimple, Inc., Hino Carss, Waymo (Alphabet Inc.), Tesla, AB Volvo, PACCAR Inc., Navistar, Inc., Embark Carss, Inc., PlusAI, Inc., and Kodiak Robotics are some of the major light duty truck companies worldwide.