Emerging Trends to Drive Service Trucks Market Growth at 8.4% CAGR Through 2029

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Service Trucks Market Size Growth Forecast: What to Expect by 2025?
The market size of service trucks has observed a significant uptick in recent years. It is projected to rise from $35.83 billion in 2024 to $38.99 billion in 2025, experiencing a compound annual growth rate (CAGR) of 8.8%. The historical growth can be attributed to a multitude of factors including the surge in construction activities, expansion within mining and agricultural sectors, increased demand for field service operations, urbanization growth, and the emergence of emergency roadside assistance services.

How Will the Service Trucks Market Size Evolve and Grow by 2029?
The market size of service trucks is anticipated to experience robust growth in the years to come, increasing to a value of $53.95 billion by 2029 with a compound annual growth rate (CAGR) of 8.5%. This projected growth over the forecasted duration can be credited to factors such as increased demand for on-site maintenance, growing requirements for construction equipment, expansion of the logistics and supply chains, escalating insurance costs, and progressive trade policies. The forecast period will also see emerging trends including technological advancement, autonomous technologies, the incorporation of augmented reality, the use of digital platforms, and the integration of artificial intelligence.

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What Drivers Are Propelling the Growth of Service Trucks Market Forward?
The growth of the service trucks market is anticipated to be propelled by the expanding construction industry. The construction sector, which encompasses the planning, designing, and construction of infrastructure and buildings, such as residential, commercial, and industrial projects, is on the rise. This increase is a result of factors such as urbanization, population growth, development of infrastructure, government investments, and advancements in building technologies. Service trucks play an integral role in the construction industry by providing essential services like on-site maintenance, repairs, equipment and tool delivery, emergency support, as well as routine maintenance for construction vehicles and machinery. This ensures uninterrupted operations and reduces downtime. For instance, data from the US Census Bureau, a government agency, showed that the value of construction operations in May 2024 had gone up from $2.01 trillion in May 2023 to $2.14 trillion. Consequently, the rising construction industry is fueling the growth of the service trucks market.

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Which Emerging Trends Are Transforming the Service Trucks Market in 2025?
Leading businesses in the service trucks industry are intensifying their efforts to create ground-breaking products, such as the EV Star trucks. This is in response to the rising demand for electric and environmentally friendly transport solutions. The EV Star trucks are electric service vehicles that provide zero-emission, eco-friendly transport options for commercial use. For example, GreenPower Motor Company Inc, a Canadian electric bus manufacturer, introduced their new vehicle, GreenPower's EV Star Utility Truck, in April 2024. This vehicle is intended for commercial fleet application and comes with a powerful electric system that produces no emissions, thereby improving urban air quality. The EV Star Utility Truck comes with advanced telematics and connectivity capabilities that allow fleet managers to track vehicle performance and plan routes effectively. The spacious cargo compartment is designed for versatility, comfortably accommodating different equipment and goods.

What Are the Key Segments in the Service Trucks Market?
The service trucksmarket covered in this report is segmented -

1) By Product: Utility Trucks, Mechanic Trucks, Mobile Service Trucks, Fuel And Lube Trucks, Crane Trucks, Other Products,
2) By Fuel: Internal Combustion Engine (ICE), Electric
3) By End User Industry: Construction, Government And Public Utilities, Mining, Agriculture, Transportation And Logistics, Emergency Services, Other End User Industries

Subsegments:
1) By Utility Trucks: Bucket Trucks, Line Maintenance Trucks, Tow Trucks, Service and Repair Trucks
2) By Mechanic Trucks: On-Site Repair Trucks, Maintenance Trucks, Tool Trucks, Welding Service Trucks
3) By Mobile Service Trucks: Emergency Response Service Trucks, Mobile Tire Service Trucks, Mobile Battery Service Trucks, Mobile Detailing Trucks
4) By Fuel and Lube Trucks: Fuel Delivery Trucks, Lube Service Trucks, Oil Change Trucks, Multi-Service Fuel and Lube Trucks
5) By Crane Trucks: Telescopic Crane Trucks, Knuckle Boom Crane Trucks, Articulated Crane Trucks, Loader Crane Trucks
6) By Other Products: Refrigerated Service Trucks, Custom Service Trucks, Flatbed Trucks, Cargo Vans

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Who Are the Key Players Shaping the Service Trucks Market's Competitive Landscape?
Major companies operating in the service trucks market are Ford Motor Company, Tata Motors Limited, Paccar Inc., Dongfeng Motor Corporation, Navistar International Corporation, Altec Industries Inc., Knapheide Manufacturing Company, Scelzi Enterprises Inc., Dakota Bodies Inc., General Truck Body Manufacturing Company, Maintainer Corporation of Iowa Inc., ORH Truck Solutions, Isuzu Commercial Vehicles, Mega Corporation, Duramag LLC, A&H Equipment, Public Service Truck Renting, Jacon Technologies, JOMAC LTD, STG Global, AES Equipment Solutions, International Trucks, Plantman Equipment, Ryder System Inc.

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

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