Heavy-Duty Trucks Market Thrives On Surge In Infrastructure Development And Construction Activities: An Emerging Driver Transforming The Heavy Duty Trucks Market Landscape

The Heavy Duty Trucks Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Heavy Duty Trucks Market?
The market size for heavy duty trucks has experienced robust growth in the past few years. We project it to expand from $229.16 billion in 2024 to $242.93 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%. The growth seen in the historical period owes much to the expansion of industrial operations, a surge in freight demand, elevated pollution standards, improval in vehicle safety, and heightened end-user demand.

The market size of heavy duty trucks is anticipated to experience a consistent growth in the coming years. The value is expected to reach $291.39 billion by 2029, with a compound annual growth rate (CAGR) of 4.7%. Factors contributing to this growth in the prediction period include increasing need for high-performance vehicles, escalating demand in specific industries, enhancement of local and international trade, strict emission standards, and increased purchasing power. Key future trends encompass a swell in electrification, telematics and connectivity, technologies for weight reduction, solutions for last-mile delivery, and predictive maintenance.

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What Are the Different Heavy Duty Trucks Market Segments?
The heavy duty trucks market covered in this report is segmented -

1) By Truck Type: Rigid, Articulated
2) By Propulsion: IC Engine, Electric, FCEV
3) By Application: Construction And Mining, Freight And logistics

Subsegments:
1) By Rigid Trucks: Straight Trucks, Box Trucks, Flatbed Trucks, Dump Trucks, Garbage Trucks
2) By Articulated Trucks: Tractor-Trailer Combinations, Truck And Trailer Units, Semi-Trailer Trucks, Tanker Trucks, Car Carrier Trucks

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What Are the Primary Drivers Shaping the Heavy Duty Trucks Market?
The expansion of infrastructure development and construction activities is anticipated to drive the growth of the heavy-duty truck market in the future. Infrastructure development and construction, which involves strategic planning, financing, and constructing fundamental physical systems maintaining the livelihood of a community or society, employs heavy-duty trucks to transport essential materials, equipment, and goods for construction ventures, offering vast cargo space and long-haul capabilities. As an example, the Office for National Statistics, a government department in the UK, reported in November 2023 that the construction value in Great Britain in 2022 surged by 15.8% to hit a historical high of $168,236 (£132,989) million. In the same year, the annual new orders also saw an 11.4% rise to a record value of $102,261 (£80,837) million. The primary contributions came from private infrastructure, private commercial, and other public non-housing sectors, witnessing a growth of 85.1%, 10.2%, and 17.5%, respectively. Hence, the growth of the heavy-duty truck market is fueled by the ongoing expansion in infrastructure development and construction activity.

Which Companies Are Leading in the Heavy Duty Trucks Market?
Major companies operating in the heavy duty trucks market report are Toyota Motor Corporation, Fait Chrysler Automobile, Mercedes-Benz Group, Ford Motor Company, General Motors, Nissan Motor Co., Ltd., Volvo AB, Traton Group, Tata Motors Limited, Paccar Inc., Peterbilt, Scania AB, Mahindra & Mahindra Limited, Isuzu Motors Limited, Dongfeng Motor Group, MAN.SE, Hino Motors Ltd., Oshkosh Corporation, Mitsubishi Fuso Truck and Bus Corporation, Eicher Motors Ltd, Ashok Leyland, Mack Trucks, Western Star Trucks, Inc., Navistar International Corporation

What Trends Are Expected to Dominate the Heavy Duty Trucks Market in the Next 5 Years?
Leading firms in the heavy-duty trucks market are leveraging technological advancements, like hydrogen-powered trucks equipped with hydrogen ICE (internal combustion engine) technology, to bolster their market stance. These hydrogen-powered trucks present a viable and eco-friendly solution for the heavy-duty trucks market, addressing environmental issues, offering operational benefits, and enhancing the sector's long-term sustainability. For example, in February 2023, automotive manufacturer Ashok Leyland, in collaboration with Reliance Industries Limited, both India-based entities, introduced the H2-ICE heavy-duty truck series (19-35 ton), which is powered by hydrogen, a green and renewable energy source. The design of the vehicle is similar to a traditional diesel engine, paving the way for a cost-effective shift to greener energy. This hydrogen technology innovation is anticipated to bring about a transformative change in the green mobility space, as it nearly eliminates emissions, competes on par with conventional diesel trucks in terms of performance, reduces noise levels, and lowers operating costs.

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What Are the Top Revenue-Generating Geographies in the Heavy Duty Trucks Market?
North America was the largest region in the heavy duty trucks market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heavy duty trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Heavy Duty Trucks Market?
2. What is the CAGR expected in the Heavy Duty Trucks Market?
3. What Are the Key Innovations Transforming the Heavy Duty Trucks Industry?
4. Which Region Is Leading the Heavy Duty Trucks Market?

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