Trucks Market Size & Share 2026-2035

Trucks Market Size

The global trucks market was valued at USD 400.9 billion in 2025. The market is expected to grow from USD 420.8 billion in 2026 to USD 792.6 billion in 2035 at a CAGR of 7.3%, according to latest report published by Global Market Insights Inc.

In terms of units, the year 2025 is accounting for around 6.7 million class 3 to class 8 truck units sold. The trucks units are projected to surpass 10.9 million units by 2035 at a CAGR of around 5.2% between 2026 and 2035.

The trucks market worldwide is still largely dependent on the cycle of freight demands that display high sensitivity to regional economic performance. Major brands like Daimler Truck, for instance, recorded 4,08,740 units in terms of trucks sold in the year 2025, which can be attributed to normalizing freight demand after previous years' highs. Daimler Truck reported -26% drop in trucks demand in the North America region and a 4% rise in Asia.

The role of government initiatives aimed at boosting the logistics industry is gaining prominence as one of the primary drivers behind growth in the truck manufacturing sector, particularly in fast-growing countries such as India. With the rise in significance of logistics, government spending on improving infrastructure, policy changes, and logistics efficiency is resulting in an increased need for freight transportation services, thereby necessitating a consistent demand for medium and heavy-duty trucks, particularly since road transport remains dominant in carrying domestic cargo.

By 2030, the Indian logistics industry is expected to become a $800 billion industry and will be responsible for about 11% contribution to the GDP. The government has been involved in projects like multimodal logistics parks, freight corridors, and highway development schemes which have enhanced connectivity, and reduced time for transportation. This, in turn, raises the efficiency of truck transport, and motivates them to increase their fleet size. It is here that the opportunity arises for the manufacturers of trucks.

Many OEMs are taking a step ahead with the launch of electric trucks. At the same time, these OEMs are also trying to capture the most market share with the fuel cell-based trucks. In January 2026, Daimler Truck introduced the Mercedes-Benz NextGenH2 Truck, a hydrogen-powered fuel cell truck. The company plans to produce 100 units at its Wörth plant and deliver them to customers by the end of 2026. The same month of 2026, Volvo Trucks received an order for 80 VNL trucks from HayWay Logistics, marking the company’s first use of trucks in the U.S. HayWay also ordered 150 FH Aero trucks in Poland.

Trucks Market Trends

Electrification, safety automation, construction spending, and parcel logistics are working together to reshape the trucks industry, not in isolation but as reinforcing currents that change product specs, depot layouts, and financing math. The numbers tell us adoption is well past pilots: medium- and heavy‑duty electric truck sales topped 90,000 units in 2024, almost 80% higher year over year, with China contributing more than four‑fifths of the total and Europe clearing 10,000 units for the second year running.

Purchase incentives, falling battery prices, and maturing model lineups are pushing battery‑electric trucks into last‑mile and regional haul, with long‑haul following targeted corridors next. Battery costs for commercial vehicles have dropped about 30% since 2020, while electricity per‑kilometer energy costs already undercut diesel by roughly 65% in select Chinese use cases, producing TCO wins in specific duty cycles.

Safety regulation, liability management, and insurance economics are elevating Level 1 features to baseline and accelerating Level 2 highway assist into 2027–2028 production programs. Mack, for example, scheduled a comprehensive ADAS suite for a new vocational platform with late‑2027 builds, a strong signal that adoption is moving beyond highway tractors into complex duty cycles

Public works and private construction sustain Class 7–8 utilization across paving, aggregates, and materials hauling. U.S. public construction reached USD 517.3 billion in 2025, with highway spending at a USD 148.5 billion SAAR in January 2026, both supportive of vocational cycles.

E‑commerce penetration adds route density and stop frequency, which directly scales urban delivery fleets. Global MD/HD electric truck sales momentum dovetails with this need, and major retailers’ fulfillment models continue to prioritize rapid delivery. Body designs optimize curb access and payload, BEV TCO advantages appear first in light/medium duty, and zero‑emission delivery zones accelerate powertrain mix shifts in large metros.

Trucks Market Analysis

Based on class, the trucks market is divided into Class 3, Class 4, Class 5, Class 6, Class 7 and Class 8. The Class 8 trucks segment dominated the market with market share of around 67.2% and generating revenue of around USD 269.4 billion in 2025.

• The market for class 8 trucks is changing as fast as technology itself. Autonomous systems, telematics, and other efficiency boosting technologies increased the productivity, safety, and overall effectiveness of class 8 trucks. To enhance fleet management, protect drivers, and lower costs, fleet managers are buying new vehicles which come with sophisticated features.
• In January 2025, ReVolt introduced a new hybrid powertrain retrofit design for class 8 trucks that is less expensive than buying new battery electric vehicles. The series hybrid system includes a CATL 210 kWh battery alongside an onboard Scania diesel engine, which serves as a generator to charge the battery when in use.
• On the other hand, truck Class 3 is increasingly utilized in delivering goods within cities or regional transport because of its versatility and fuel efficiency, as well as the emergence of last mile deliveries. Truck Class 3 is in response to the rising demand for small-sized trucks capable of navigating city streets while transporting medium volumes. The rapid growth of e-commerce and shifts in buying behavior have been key drivers in the adoption of Truck Class 3, making it the fastest-growing segment in the truck industry.

Based on propulsion/fuel, the market is divided into ICE, battery electric vehicle (BEV), hybrid electric vehicle (HEV) and fuel cell electric vehicle (FCEV). The ICE segment accounts for 92.8% in 2025, valued around USD 371.9 billion.

• The ICE (Internal Combustion Engine) drive system remains the preferred selection by buyers for use in their trucks due to the fact that it utilizes an extremely advanced technology characterized by fuels with very high energy density (diesel). As a result, this ensures a vehicle can drive over long distances, enjoy easy refueling, and have a reliable performance especially when carrying heavy loads. Additionally, ICE vehicles have an internationally recognized maintenance system, and they generate high torque outputs.
• However, the industry is making gradual progress with the improvements in electrification and hydrogen. In April 2026, the Volvo company launched its FH Aero Electric truck, which is a battery-powered electric truck designed for long-distance travel and capable of traveling up to 700 km with a single charge. Furthermore, it supports the MCS system, which allows for charging the batteries from 20% to 80% within 50 minutes.
• Additionally, in January 2026, Daimler Truck launched the Mercedes-Benz NextGenH2 Truck, a hydrogen fuel cell vehicle. It aims to manufacture 100 units of the said vehicle in its factory located in Wörth and deliver them to clients before the end of the year. All such instances are an indication that emerging propulsion technologies are expanding with the efforts of continuous advancements in them.

Based on transmission, the trucks market is divided into manual transmission, automatic transmission and automated manual transmission (AMT). The automated manual transmission (AMT) segment is expected to grow at the fastest CAGR of 8.2% between 2026 and 2035.

• In today's trucks, the Automated Manual Transmission (AMT) system is becoming the standard choice because it integrates both the effectiveness of manual gearing and automation within one single unit. AMTs are basically manual transmissions with electronically controlled clutch actuation and gear shifting systems. It means that trucks with AMTs are still able to retain their high efficiency like manual transmission, but at the same time save drivers from fatigue.
• At present, top truck manufacturers from around the world including Volvo and Daimler Truck have already implemented AMT systems in their products, mainly heavy trucks used for long haul transportation. Regional players such as Tata Motors launched its first automated manual transmission truck, the Prima 4440.S AMT, in the Kingdom of Saudi Arabia. With this transmission trend, regional players are trying to stay ahead with expansion into other regions as well.

Based on application, the market is divided into logistics & transportation, construction & infrastructure, retail & e-commerce, agriculture & forestry, mining and others. The logistics & transportation segment accounts for 42.2% in 2025, valued around USD 169.1 billion.

• In the logistics and transportation industry, trucks play a critical role in the transportation of goods as there is no other means of transport that is as flexible and convenient as the truck transport system. Truck transport does not require any terminal facilities to be used in order to transport cargo from warehouse to the final consumer.
• Increased use of e-commerce and rapid logistics, wherein the growth of online businesses has contributed greatly towards increasing the need for more efficient delivery mechanisms, thereby necessitating truck usage for last-mile and regional deliveries.
• Similarly, increasing use of just-in-time and on-demand supply chains, wherein industries like retailing, automobile manufacture, and other manufacturing have become dependent on trucks in order to achieve smooth logistics with reduced warehousing costs, and better flexibility in routes and coverage than any other form of transportation, due to the fact that trucks have the ability to travel through urban, semi-urban, and rural areas without requiring fixed infrastructure.

The U.S. trucks market reached USD 82.3 billion in 2025 and growing at a CAGR of 7.9% between 2026-2035.

• The US is known for its mature logistics and transportation sector. The country has a significant reliance on road transport in moving goods throughout the country via long interstate routes. According to Daimler Truck, the contribution of North America was at 141,814 units in 2025, indicating that there was a substantial reduction compared to the preceding period because of weak freight demand and uncertainties in the economic environment.
• U.S. Environmental Protection Agency standards are also much stricter regarding the emission limits of heavy duty vehicles, encouraging OEMs to move towards electrification even as diesel fuel reigns supreme in the interim due to the lack of necessary infrastructure. U.S. Environmental Protection Agency rules specifically target NOx and CO2 emissions of heavy duty trucks.
• Despite this, the presence of diesel trucks is expected to persist owing to efficiency and adequate fueling networks, while the vehicle manufacturers are moving towards portfolio diversification. In 2025, Volvo delivered a total number of 21,428 trucks in both the US and Canadian markets, highlighting the steady demands for high-quality trucks in this market segment amid economic downturns.

The North America region is valued at USD 94.7 billion in 2025. The market for trucks is expected to grow at the fastest CAGR of 8.1% from 2026 to 2035.

• North America’s trucks market is on track for the fastest growth among major regions as incentives, emissions rules, and corridor pilots converge. The United States anchors demand with infrastructure spend public construction totaled USD 517.3 billion in 2025 and highway outlays hit a USD 148.5 billion SAAR in January 2026, sustaining Class 7–8 requirements.
• Federal rules for MY2027+ tighten greenhouse‑gas standards, setting the stage for cleaner platforms and nudging powertrain mix decisions. Canada participates in North American supply chains linked by USMCA, which reinforces cross‑border truck flows and regional sourcing between the U.S., Mexico, and Canada. Expect BEV adoption to scale first in last‑mile and regional fleets, with long‑haul deployments concentrated on early charging corridors.

The Europe region holds 17.3% of the trucks market in 2025 and is expected to grow at a CAGR of 5.9% between 2026 and 2035.

• The European market for trucks represents one of the most highly-regulated markets in the world, largely due to stringent emission targets and policies enforced in line with EU climate regulations. According to European Automobile Manufacturers Association (ACEA), the sales of heavy-duty trucks, weighing above 12 tones, registered 263,000 units in Europe in 2025, of which fewer than 1% were zero-emissions vehicles, highlighting the prevalence of diesel engines.
• Moreover, the region sold more than 10,000 electric trucks for the second year in 2024, with growth pockets in Germany, Denmark, Italy, and the UK as TCO parity approaches by 2030. Germany remains the bellwether, with the VDA pointing to 2026 growth in heavy trucks over 16 tons, underlining cyclical recovery alongside technology transitions. Hydrogen development adds optionality for long‑haul; Daimler’s NextGenH2 program moves into small‑series production with liquid hydrogen and 1,000‑km‑plus range potential.

Germany's trucks market is growing quickly in Europe, with a CAGR of 5.2% between 2026 and 2035.

• Germany is the industrial core of the European truck production network, with prominent Original Equipment Manufacturers (OEMs) like Daimler Truck AG and MAN Group present. This market has been largely shaped by export-focused manufacturing sectors such as automobiles, chemicals, and machinery, ensuring steady freight traffic.
• Furthermore, alignment of regulations with those of the EU regarding CO2 emissions from heavy duty vehicles is making the OEMs move faster to make efficiencies and introduce alternative engines. Germany is also an adopter of long-haul trucks that are electrical like the Volvos’ FH Aero range.
• However, the path towards zero-emissions in trucks is hindered by significant costs for the required infrastructure and an insufficient number of charging stations. Long haul freight remains dominated by diesel trucks, because of their reliability. Nevertheless, investments into electric and hydrogen powered truck chassis are rising, with Germany emerging as the pilot country for fuel-cell trucks and charging infrastructure for long-distance transport.

The Asia Pacific region is expected to grow at a CAGR of 7.5% between 2026 and 2035 in the trucks industry.

• Asia Pacific remains the largest trucks market by value and the epicenter of electrification momentum. China accounted for over 80% of global MD/HD electric truck sales in 2024 and more than doubled year‑on‑year, aided by tighter standards and renewed scrappage incentives in 2025. India’s targeted programs and rapid urbanization support early deployments in last‑mile and regional logistics, complementing construction demand across megacities.
• The region’s e‑commerce intensity and infrastructure build create dual demand streams light/medium duty for deliveries and heavy‑duty for public works keeping utilization elevated. Expect BEV share to climb fastest here while hydrogen pilots emerge for demanding freight corridors, particularly where depot‑to‑depot operations can anchor fueling strategies.

China is estimated to grow with a CAGR of 7.3% in the projected period between 2026 and 2035, in the Asia Pacific trucks market.

• In terms of electrification trend of vehicles China stands at forefront. China has emerged as the world's largest truck market and fastest in terms of transition to electric. Market dynamics are highly influenced by industrial production, construction projects, and development of logistics networks. As per CAAM-based disclosures, market penetration of electrified heavy trucks was at around 29% in 2025, indicating quick restructuring of the propulsion system.
• The government's support comes in the form of vehicle substitution, vehicle scrappage, and severe urban emissions standards, which push for the modernization of the fleet. In China, for example, there is the amendment of China’s “cash-for-clunker” incentive program, which provides rebates of 12% on purchases of qualified electric or hybrid cars but caps the amount at 20,000 Chinese yuan ($2,858). The change has the effect of increasing the entry qualifications and, according to some reports, has made it hard for cheap EV manufacturers.

Mexico is estimated to grow with a CAGR of 6.5% between 2026 and 2035, in the Latin America trucks market.

• The country is very significant in terms of the truck market because of its well-established manufacturing industries and economy oriented towards exports. It is observed that the heavy vehicle production in Mexico exhibits considerable volatility, such as a 49% decrease in heavy truck production from one year to another in February 2026, which indicates the cyclicality of heavy vehicle production depending on the transport needs in the United States and the overall export situation.
• On the other hand, in terms of regulation, Mexico is currently experiencing a slow shift towards a set of regulations that meet worldwide emissions requirements, such as progressive implementation of Euro VI/EPA-equivalent norms for trucks. Mexico plans to cut the number of incentives available to hybrids and electrics starting 2026, specifically in relation to emissions test exemptions as well as reduced fees in certain states for vehicle registration.

South Africa to experience substantial growth in the Middle East and Africa trucks market in 2025.

• Trucks in South Africa are heavily reliant on road transportation for goods because of the unreliability and inefficiencies associated with rail transport. The majority of internal and international shipments are transported using trucks, and thus the road network forms the mainstay of the logistics infrastructure in South Africa. This heavy reliance on the road network can be attributed to the fact that South Africa is one of the most industrialized countries in Sub-Saharan Africa, and therefore transport of goods occurs mainly via roads and not railways.
• The demand for trucks is the mining and commodities industry, which continues to be one of the biggest sources of freight traffic in the country. The mining of platinum, gold, coal, and iron ore involves the constant flow of the natural resource from where it was mined to its processing destination and final exporting point. Trucks play a critical role in both the transportation process and off-road hauling in the mining industry.

Trucks Market Share

The top 7 companies in the trucks industry are Daimler Truck, Dongfeng Motor, FAW Group, Isuzu Motors, Sinotruk, Volkswagen and Volvo Group contributing 28.6% of the market in 2025.

• Daimler Truck makes heavy-duty trucks under the Freightliner and Mercedes-Benz brands. These trucks are known for their safety features, fuel efficiency, and strong performance in logistics, construction, and long-haul transport.
• Dongfeng Motor produces heavy-duty trucks under the Dongfeng brand. These trucks are built for industries like construction, logistics, and mining, offering strong performance, high payload capacity, and durability.
• FAW Group manufactures heavy-duty trucks under the FAW Jiefang brand. These trucks are reliable, fuel-efficient, and have high payload capacities, making them suitable for logistics, mining, and long-haul transport.
• Isuzu Motors offers heavy-duty trucks under the Isuzu brand. These trucks are fuel-efficient, cost-effective, and used in logistics, urban delivery, and long-haul transport, providing durability and good performance.
• Sinotruk makes heavy-duty trucks under the Howo and STEYR brands. These trucks are designed for tough industries like mining, construction, and freight transport, with high payload capacities and reliable performance.
• Volkswagen's MAN and Scania brands produce heavy-duty trucks for logistics, transportation, and construction. These trucks are known for advanced technology, fuel efficiency, and strong performance in long-haul and urban operations.
• Volvo Group offers heavy-duty trucks under the Volvo Trucks and Renault Trucks brands. These trucks are safe, fuel-efficient, and innovative, serving industries like logistics, construction, and long-haul transport.

Trucks Market Companies

Major players operating in the trucks industry are:

• Daimler Truck
• Dongfeng Motor
• FAW Group
• Foton Motor
• Isuzu Motors
• PACCAR
• Shaanxi Auto
• Sinotruk
• Volkswagen
• Volvo

• Daimler Truck has a strong global presence, well-known brands, and a wide range of trucks. It develops both traditional and zero-emission vehicles and has a reliable aftersales and service network.
• Dongfeng Motor benefits from high demand in China, a variety of truck options, and partnerships with global manufacturers. This helps maintain steady production and a presence in different commercial vehicle segments.
• FAW Group, through its Jiefang brand, leads China’s heavy-duty truck market. It relies on high production capacity, strong distribution, and a focus on freight and logistics.
• Isuzu Motors specializes in light and medium-duty trucks and is known for its durable diesel engines. It plays a key role in urban transport, small business logistics, and commercial vehicle markets.
• Sinotruk (CNHTC) focuses on heavy-duty trucks with cost-efficient manufacturing. It exports to developing regions, offering competitive prices and growing volumes outside China.
• Volkswagen, through its TRATON Group, which includes MAN and Scania, works in the truck market. It shares development and platforms, covering different truck segments and global markets.
• Volvo Group operates globally with a focus on heavy-duty trucks. It is known for safety and reliable engineering, serving long-haul and construction sectors in Europe and North America.

Trucks Industry News

• In April 2026, Volvo launched the FH Aero Electric truck, a long-distance electric truck with a range of up to 700 km on a single charge. It supports the MCS (Megawatt Charging System) standard, allowing its eight batteries to charge from 20% to 80% in about 50 minutes.
• In January 2026, Daimler Truck introduced the Mercedes-Benz NextGenH2 Truck, a hydrogen-powered fuel cell truck. The company plans to produce 100 units at its Wörth plant and deliver them to customers by the end of 2026.
• In January 2026, Volvo Trucks received an order for 80 VNL trucks from HayWay Logistics, marking the company’s first use of trucks in the U.S. HayWay also ordered 150 FH Aero trucks in Poland. These trucks will handle long-haul freight between Southern California and New York for a major online retailer.
• In October 2025, Tatra Trucks started developing the Tatra Force e-Drive FCEV 6x4, a hydrogen-powered truck based on its 3rd generation Force platform. The project, co-funded by the European Union, is expected to finish by mid-2028.
• In April 2025, Hyundai Motor Company revealed the XCIENT Fuel Cell Class-8 heavy-duty truck at the ACT Expo 2025 in Anaheim, California. The truck has a 180 kW hydrogen fuel cell system and a maximum range of 450 miles under ideal conditions.

The trucks market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) and volume (units) from 2022 to 2035, for the following segments:

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Market, By Class

• Class 3
• Class 4
• Class 5
• Class 6
• Class 7
• Class 8 

Market, By Propulsion/Fuel

• Internal Combustion Engine (ICE)
  • Diesel
  • Gasoline
  • Natural Gas
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Fuel Cell Electric Vehicle (FCEV)

Market, By Transmission

• Manual Transmission
• Automatic Transmission
• Automated Manual Transmission (AMT)

Market, By Autonomy Level

• Level 0
• Level 1
• Level 2
• Level 3
• Level 4
• Level 5

Market, By Application

• Logistics & transportation
• Construction & infrastructure
• Retail & e-commerce
• Agriculture & Forestry
• Mining
• Others

The above information is provided for the following regions and countries:

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Switzerland
  • Netherlands
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Vietnam
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
• MEA
  • South Africa
  • Saudi Arabia
  • UAE