Trucks Market Size (2025-2030)

The Trucks Market was valued at USD 8.31 trillion in 2024 and is projected to reach a market size of USD 11.29 trillion by the end of 2030. Over the forecast period of 2025-2030, the market is projected to grow at a CAGR of 6.33%.    

This transformative shift in the global truck market is driven by technological innovation, sustainability goals, and the rapid growth of the e-commerce logistics sector. The industry is rapidly changing from heavy-duty hauliers into smart, electric, and autonomous trucks, with rising demands on efficiency and safety, as well as a conscience for the environment. With governments clamoring for cleaner transport and companies pouring in money for digital fleet solutions, trucks remain a linchpin of international trade and supply chains.

 Key Market Insights:

Over 30 countries have begun piloting or deploying autonomous trucks, with the U.S. and China leading the way. These trucks reduce driver fatigue and enhance fuel efficiency in long-haul logistics.

Trucks carry approximately 72% of all freight by weight in the U.S. and over 70% globally. This underscores their critical role in global supply chains and last-mile delivery.

Nearly 90% of logistics firms have invested in telematics, AI routing, or fleet analytics. These tools optimize routes, reduce fuel costs, and ensure real-time tracking.

Trucks Market Drivers:

One of the most significant drivers of the global trucks market is the accelerating shift toward sustainability and cleaner transportation.

The global trucks market is currently experiencing one of the most significant transformations toward sustainability and cleaner transportation. Governments across the world are tightening emission regulations, thus reducing CO2 emissions would be mandatory for trucks to comply with emission standards. For example, the European Union has mandated a 45% reduction in CO₂ emissions from heavy-duty trucks by 2030, and similar mandates in the U.S. and China have created immense pressure on manufacturers to innovate rapidly. This has encouraged an outburst of developing and adopting electric vehicles, hydrogen-powered vehicles, and hybrid trucks for last-mile delivery and regional logistics. Most electric trucks, such as those recently launched by Tesla, Volvo, BYD, and Mercedes-Benz, are proving attractive because they do not emit any exhaust gases. They operate quietly and are also cheaper to run. Hydrogen-fueled trucks possess a range capability that is longer than most electric trucks and have very quick refueling, suitable for long hauls, thus they are complementary to electric applications. Besides, to lower pollution, several cities have established low-emission zones (LEZs) that restrict diesel vehicles from entering those areas so that last-mile delivery services are brought toward environmentally friendly fleets.

The exponential rise in global e-commerce has transformed the trucking industry into the backbone of modern logistics.

It is the ever-increasing worldwide virtual commerce that has made trucking the spine of modern logistics. Having said that, this has been the case with online retail sales-growing at double digits every year, most especially in developing countries across Asia-Pacific, Latin America, and Africa. As such, it requires a reliable and fast-flexible transportation network, with trucks as the backbone for both last-mile distribution and inter-regional movement. In 2024, trucks will be moving above 70% of world freight by volume, a figure that is set to rise further as same-day-next-day delivery services get ramped up. In addition, Amazon, Flipkart, JD.com, Alibaba, and other companies have been throwing themselves into building the logistics arms and fleets aggressively to improve delivery times and meet customer expectations. Legacy logistics companies, like FedEx, DHL, and Maersk, are redesigning their supply chains with more agile technology-enabled trucking services into their system. As a result, the demand for light-duty trucks has significantly increased in urban delivery and heavy-duty trucks for warehouse-to-warehouse transport. In addition to the above factors, smart warehousing, route optimization software, fleet telematics, and real-time tracking systems have all been involved in the operations of trucking being improved and made profitable. Government investment in road infrastructure and intermodal hubs further boosts the market. For example, India and China are pouring billions of rupees into upgrading highways as well as constructing freight corridors, thus providing smooth and quick trucking movement across regions. The trucks now become more critical for the global economy and digital commerce ecosystem as wider consumer demands keep emerging.

Trucks Market Restraints and Challenges:

One of the key restraints in the global trucks market is the high upfront cost of next-generation trucks, particularly electric and hydrogen-powered vehicles.

The major one among restraints in the truck industry is the high upfront costs of the next-generation trucks, especially electric and hydrogen-powered ones. These models save you on fuel and maintenance in the long run; however, their purchase price is about 2-3 times more than that of a conventional diesel truck, which affects the small and medium-sized logistics operators with thin capital budgets. Even in developing regions where cost sensitivity is much higher, fleet owners rarely make the switch without great government incentives or infrastructure support. On top of that, the lack of widespread charging and refueling infrastructure makes operational planning even more difficult and uncertain. Until battery technology is priced down with proper production and distribution scaling of hydrogen, sustainable trucks will continue to be adopted in a rather uneven manner around regions and fleet sizes, delaying universal market transformation.

Trucks Market Opportunities:

The global trucks market is a major opportunity for the integration of advanced technologies, including AI, IoT, telematics, autonomous driving, and blockchain-based fleet management. With the focus on enhanced efficiency, safety, and transparency in logistics companies, the demand for smart trucks is increasing, with predictive maintenance, real-time tracking, automated route optimization, and fuel economy knowledge on board. Pilot programs for autonomous trucks are being run across the U.S., Europe, and China, with the potential to transform long-haul transport through diminished reliance on drivers and reduced operational costs. Additionally, the rapid growth of digital freight platforms and connected ecosystems is creating new business models in fleet sharing, on-demand trucking, and data-driven logistics. These innovations will enhance performance and open new revenue streams for OEMs, software providers, and fleet operators, especially in a world that has now set sustainability and digital transformation as its goals.

TRUCK MARKET REPORT COVERAGE:

Trucks Market Segmentation:

Trucks Market Segmentation: By Truck Type

• Light-duty Trucks
• Medium-Duty Trucks
• Heavy-Duty Trucks

By truck classification, overall, the market for global trucks is segmented into light, medium, and heavy trucks for different operational applications. Light-duty trucks are extensively being used for last-mile deliveries and urban logistics because of their maneuverability, low emissions, and availability under city regulations. These vehicles are increasingly in demand across North America, Europe, and Asia-Pacific due to growing e-commerce and same-day delivery services. Medium-duty trucks also include regional logistics, municipal services such as waste collection and utility maintenance, and medium-range distribution needs. Due to their flexibility and versatility, these trucks are mostly preferred by private logistics companies and public organizations. Heavy-duty trucks also form the backbone of long-distance and intercity transportation, serving various industries such as construction, mining, and cross-border cargo movement. Presently, with most technological advancements being seen in heavy-duty trucks, for example, in terms of automated driving systems or fuel efficiency-there is a focus on rapidly integrating these technologies into very heavy vehicles to lower operational costs and improve safety while driving. As global trade continues to open up and cities become increasingly urbanized, it is expected that all truck types will experience different but strong growth trends leading up to 2030.

Trucks  Market Segmentation: By Propulsion

• Internal Combustion Engine
• Electric Trucks
• Hybrid Trucks
• Fuel Cell Electric Vehicles

In the global trucks market, propulsion technology is among the major areas of transformation, impacting both the environment and operational economics of fleets. At the current state, internal combustion engine trucks, especially the diesel-powered ones, place a heavy dependence upon old infrastructure and have a lower upfront cost. However, growing regulatory pressures and carbon reduction goals induce fleet operators to turn to alternatives. Electric trucks (battery electric vehicles) are rapidly gaining ground on the light- and medium-duty segment, which are used for urban logistics and promise essences of zero tailpipe emissions, lower maintenance, and noise reduction in line with the environmental goals at the city level. Hybrid trucks, which combine IC engines and electric power, are transitional solutions for an emissions-reduced and at the same time operationally flexible application across longer routes. Finally, fuel cell electric vehicles (FCEVs), mainly used with hydrogen, are also coming into the picture as a serious contender for heavy-duty, long-haul applications because of their advantages of fast refueling times and long range. The evolving charging and hydrogen refueling infrastructure, along with ever-declining battery costs, will only reinforce a trend towards cleaner propulsion technologies in the coming years.

Trucks Market Segmentation: By End User

• Fleet Operators & Logistics Companies
• Construction Firms
• Municipal Authorities
• Retail & E-commerce Companies

Segmenting the market by end user indicates several different demand drivers and usage patterns. Fleet operators and logistics companies, being the large end-users, heavily invest in new truck technologies for improving delivery efficiency, reducing fuel costs, and satisfying their sustainability commitments. With e-commerce and just-in-time supply chains gaining prominence, this segment increasingly demands reliable, connected, and low-emission trucks. On the other hand, construction firms, which mostly depend on heavy-duty trucks to transport raw materials, machinery, and debris, have a keen focus on durability and payload capacity. This segment is also gradually adopting alternative propulsion technologies, especially in urban construction areas with regulated emissions. Municipal authorities utilize trucks for public services ranging from waste collection, firefighting, and road maintenance. These government institutions are frequently incentivized to utilize greener vehicles, thus providing a strong momentum for electric and hybrid models. At the same time, retailing and e-commerce companies are now fast-tracking the expansion of their private fleets to gain better control of last-mile delivery and customer service levels. Efficiency, low cost of operations, and eco-friendliness become the key focus area for this segment, mirroring the wider trends with consumers and regulation. All these varied needs are creating demand for targeted innovations and specialized truck offerings across regions.

Trucks Market Segmentation: Regional Analysis:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

The Asia-Pacific region, with e-commerce flourishing, fast infrastructural development, and the presence of important OEMs in countries like China, India, and Japan, is the largest in the global market for trucks. Following the Asia-Pacific region is North America, where a logistics-heavy economy has high demand for, and keeps pushing, autonomous trucks and electric trucks. The growth of the market in Europe is dominated by stringent emission regulations and substantial incentives for electric and hybrid trucks to promote swift fleet transitions. In South America, moderate growth can be attributed primarily to the demand from the mining and agricultural sectors that require robust heavy-duty trucks. The development in the Middle East and Africa is characterized by the gradual expansion of the market, supported by infrastructure projects and logistics needs related to oil and gas activities. Thus, these regional dynamics underline diverse priorities and opportunities shaping the global trucks market.

COVID-19 Impact Analysis on the Trucks Market:

The impact of the pandemic was very complex and transformational on the world trucks market. In the early months of 2020, lockdowns, factory shutdowns, and severe supply chain disruptions sharply decreased the production and sales of trucks throughout the world. Many projects involving logistics and construction were delayed or even canceled, creating a temporary demand contraction, most especially on medium- and heavy-duty trucks. However, the pandemic also pushed forward several structural shifts. The phenomenal growth of e-commerce and home delivery services fostered the unexpected demand for light-duty and last-mile delivery trucks, with several retailers quickly expanding their fleets to meet new consumer expectations. A heightened awareness around supply chain resilience further pushed companies to rethink fleet diversity and invest in digital fleet management, telematics, and route optimization tools. While the recovery timeframes differed by regions, the crisis in the end acted as a catalyst for technological adoption and fleet modernization. It highlighted the very important role of trucks as essential infrastructure and gave rise to increased investments in electric and autonomous trucks under future-proofing strategies.

Latest Trends/ Developments:

The global truck market is experiencing a rapid transformation in technology and strategy due to electrification, automation, and smart connectivity. Electric truck uptake has exploded, with sold units of medium- and heavy-duty electric models in 2024 enjoying a near 80% year-on-year increase, driven mainly by restrictive emission targets and generous copious incentivization, especially in China and Europe. In parallel, autonomous trucks are graduating from pilot phases into early commercial deployments along major freight corridors, foreseeing a future of safer and more efficient long-haul transport. Hydrogen fuel cell trucks are also gaining traction, as major players are investing in setting up refueling infrastructure on long-distance routes for the purpose of enabling zero-emission heavy-duty logistics. Another big trend is the eruption of advanced telematics, AI-assisted route optimization, and predictive maintenance systems to help fleets reduce downtime, increase fuel efficiency, and ensure safety. OEMs and fleet operators pay increased attention to cybersecurity to defend connected trucks from the ruthless digital threats, which evolve day by day. In parallel, massive investments are flowing into fast-charging networks and hydrogen stations that will plug infrastructure gaps and hasten the green transition. Collectively, these developments indicate the truck market transformation into a clean, smart, and highly digitized one.

  Key Players:

1. Daimler Truck AG
2. Volvo Group
3. PACCAR Inc.
4. Tata Motors Limited
5. Scania AB
6. MAN Truck & Bus SE
7. Isuzu Motors Ltd.
8. Hino Motors Ltd.
9. Navistar International Corporation
10. Iveco Group
11. BYD Auto Co., Ltd.
12. Tesla, Inc.
13. Nikola Corporation
14. Hyundai Motor Company
15. FAW Group Corporation
16. Dongfeng Motor Corporation
17. CNHTC
18. Ford Motor Company