Top Market Shifts Transforming the Heavy Trucks Market Landscape: Key Insights

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Heavy Trucks Market Size Growth Forecast: What to Expect by 2025?
The market size for heavy trucks has seen a robust growth in the past few years. Forecasts suggest that the market is set to rise from $232.34 billion in 2024 to $245.3 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%. These developments in the historic period can be credited to factors like economic growth and industrialization, enhancements in infrastructure, changes in safety regulations, worldwide wars and military requirements, as well as the expansion of global trade.

How Will the Heavy Trucks Market Size Evolve and Grow by 2029?
The size of the heavy trucks market is forecasted to experience robust expansion in the upcoming years, escalating to a value of $300.97 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%. This anticipated rise during the forecasted period can be credited to progress in electrification, regulatory constraints on emissions, the emergence of autonomous trucks, digitalisation, and fleet management solutions, as well as the increasing requirements for last-mile delivery. The prediction period is likely to show major trends including the advent of electric heavy trucks, autonomous trucking technologies, telematics and connectivity, the adoption of alternative fuels, and enhanced safety features.

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What Drivers Are Propelling the Growth of Heavy Trucks Market Forward?
The heavy trucks market is experiencing growth due to rising demand from sectors such as construction, mining, and others. Top truck manufacturers have reported that a surge in construction activities has led to heightened sales of heavy vehicles like tipper trucks and concrete mixers. The American Trucking Associations confirmed that trucks transported over 11.4 billion tons of freight in 2022 and generated exceeding $940 billion, reflecting year-on-year growth. This upsurge in heavy truck demand is anticipated to steer the market's growth in the projected period.

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Which Emerging Trends Are Transforming the Heavy Trucks Market in 2025?
The trend of incorporating advanced driver-assist technologies and safety features in heavy trucks is picking up in the heavy trucks market. These advanced driver-assist technologies comprise safety systems such as Collision Mitigation System (CMS) and Lane Departure Warning System (LDWS), which have been introduced with a primary focus of reducing road mishaps and enhancing vehicle safety. To exemplify, Tata Motors, a commercial vehicle manufacturer based in India, unveiled the country's first medium and heavy commercial vehicle truck powered by CNG in 2022. Alongside it also launched a new age advanced driver assistance system (ADAS) that includes a collision mitigation system, lane departure warning system, and a driver monitoring system in its popular range of trucks, including the Prima, Signa, and Ultra trucks, with an aim to improve the driving experience.

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

1) By Type: Class 5, Class 6, Class 7, Class 8
2) By Fuel: Diesel, Natural Gas, Hybrid Electric, Gasoline
3) By Application: Construction And Mining, Freight And Logistics, Other Applications

Subsegments:
1) By Class 5: Vehicles With A Gross Vehicle Weight Rating (GVWR) Of 16,001 To 19,500 Pounds, Medium-Duty Trucks, Delivery Trucks, And Service Vehicles
2) By Class 6: Vehicles With A Gross Vehicle Weight Rating (GVWR) Of 19,501 To 26,000 Pounds, Box Trucks, Dump Trucks, And Some Types Of Tow Trucks
3) By Class 7: Vehicles With A Gross Vehicle Weight Rating (GVWR) Of 26,001 To 33,000 Pounds, Larger Trucks, Buses, And Vocational Vehicles
4) By Class 8: Vehicles With A Gross Vehicle Weight Rating (GVWR) Of Over 33,000 Pounds, Heavy-Duty Trucks, Tractor-Trailers, And Larger Buses

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Who Are the Key Players Shaping the Heavy Trucks Market's Competitive Landscape?
Major companies operating in the heavy trucks market include Volkswagen AG, Kamaz Inc., China National Heavy Duty Truck Group Co. Ltd., Daimler Truck AG, Traton SE, Volvo Group, Paccar Inc., Isuzu Motors Limited, Tata Motors Limited, Dongfeng Motor Corporation, Iveco S.p.A., Hino Motors Ltd., Sinotruk Hong Kong Limited, Oshkosh Corporation, Navistar International Corporation, Fuso Truck and Bus Corporation, Ashok Leyland Limited, Mack Trucks Inc., Eicher Motors Limited, Kenworth Truck Company, Peterbilt Motors Company, Western Star Trucks Sales Inc., UD Trucks Corporation, Freightliner Trucks, MAN SE, Scania AB, First Automotive Works Ltd.

What Geographic Markets Are Powering Growth in the Heavy Trucks Market?
North America was the largest region in the heavy trucks market in 2024. Asia-Pacific was the second-largest region in the heavy trucks market share. The regions covered in the heavy trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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