PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1518458
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1518458
Class 8 Truck Market Size - By Fuel (Diesel, Natural Gas, Hybrid Electric), By Application (Freight Delivery, Utility Services, Construction & Mining), By Horsepower, By Axle, By Ownership, By Cab Type & Forecast, 2024 - 2032
Class 8 Truck Market size is projected to expand at over 5% CAGR from 2024 to 2032, led by rapid technological advancements and the increasing launches of innovative models. With strong need for improvements in engine efficiency, aerodynamics, and connectivity features, manufacturers are integrating advanced safety systems and autonomous driving technologies into trucks for enhancing driver comfort and safety on the road along with fuel efficiency and operational performance.
The growing demand for more sustainable and efficient transportation solutions is further driving the adoption of class 8 trucks are shaping the future of heavy-duty commercial vehicles. For instance, in May 2024, Hino Trucks and Hexagon Purus launched the Tern RC8, a Class 8 battery-electric truck for marking a significant advancement in the class 8 truck space for integrating sustainable technology to meet the modern transportation needs.
The overall market is segregated into fuel, cab type, application, axle, horsepower, ownership, and region.
Based on fuel, the class 8 truck market value from the hybrid electric segment is estimated to rise at significant rate from 2024 to 2032 due to the increasing transformation of heavy-duty transportation with dual power sources for combining internal combustion engines with electric motors. These trucks offer enhanced fuel efficiency and reduced emissions for contributing to environmental sustainability. Manufacturers are also refining hybrid technologies to improve performance, range, and charging infrastructure. Moreover, hybrid electric class 8 trucks are integrated with advanced battery technologies and regenerative braking systems to optimize fuel economy and operational costs while meeting stringent emissions regulations.
Class 8 truck industry from the day cab type segment is anticipated to expand at substantial CAGR up to 2032, owing to increasing requirement for short-haul operations. These trucks are ideal for urban deliveries and regional transport as they offer maneuverability and lower overall weight compared to sleeper cabs. Manufacturers are enhancing day cab designs with ergonomic features and advanced safety technologies to improve driver comfort and operational efficiency. Additionally, advancements in autonomous driving and connectivity will further optimize logistics and fleet management for day cab operators, adding to the segment growth.
Regionally, the Europe class 8 truck market size is projected to depict robust growth between 2024 and 2032, on account of the ongoing global trade dynamics. The growth of the e-commerce sector is driving the increasing demand for efficient freight transportation for prompting manufacturers to innovate with advanced logistics solutions and fuel-efficient technologies. Lately, the influx of connectivity and automation technologies for optimizing fleet management and logistics operations across Europe will also favor the regional industry expansion.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry 360 degree synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Raw material suppliers
- 3.2.2 Component suppliers
- 3.2.3 Manufacturers
- 3.2.4 Service providers
- 3.2.5 Distribution channel
- 3.2.6 End users
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Key news & initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Escalating demand for autonomous driving technologies in class 8 trucks
- 3.8.1.2 Increasing long-haul freight activities bolstering class 8 truck utilization
- 3.8.1.3 Introduction of advanced emission control systems due to strict regulations
- 3.8.1.4 Expansion of logistic networks and e-commerce globally
- 3.8.1.5 Technological advancements in trucking efficiency and safety features
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 High cost of advanced technology integration
- 3.8.2.2 Economic slowdown affecting freight demand
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Fuel, 2021 - 2032 ($Mn & Units)
- 5.1 Key trends
- 5.2 Diesel
- 5.2.1 Freight delivery
- 5.2.2 Utility services
- 5.2.3 Construction & mining
- 5.2.4 Others
- 5.3 Natural gas
- 5.3.1 Freight delivery
- 5.3.2 Utility services
- 5.3.3 Construction & mining
- 5.3.4 Others
- 5.4 Hybrid electric
- 5.4.1 Freight delivery
- 5.4.2 Utility services
- 5.4.3 Construction & mining
- 5.4.4 Others
- 5.5 Others
- 5.5.1 Freight delivery
- 5.5.2 Utility services
- 5.5.3 Construction & mining
- 5.5.4 Others
Chapter 6 Market Estimates & Forecast, By Cab Type, 2021 - 2032 ($Mn & Units)
- 6.1 Key trends
- 6.2 Day cab
- 6.3 Sleeper cab
Chapter 7 Market Estimates & Forecast, By Application, 2021 - 2032 ($Mn & Units)
- 7.1 Key trends
- 7.2 Freight delivery
- 7.3 Utility services
- 7.4 Construction & mining
- 7.5 Others
Chapter 8 Market Estimates & Forecast, By Axle, 2021 - 2032 ($Mn & Units)
- 8.1 Key trends
- 8.2 4x2
- 8.3 6x4
- 8.4 6x2
Chapter 9 Market Estimates & Forecast, By Horsepower, 2021 - 2032 ($Mn & Units)
- 9.1 Key trends
- 9.2 Below 300HP
- 9.3 300HP - 400HP
- 9.4 400HP - 500HP
- 9.5 500HP & Above
Chapter 10 Market Estimates & Forecast, By Ownership, 2021 - 2032 ($Mn & Units)
- 10.1 Key trends
- 10.2 Fleet operator
- 10.3 Independent operator
Chapter 11 Market Estimates & Forecast, By Region, 2021 - 2032 (($Mn & Units)
- 11.1 Key trends
- 11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
- 11.3 Europe
- 11.3.1 UK
- 11.3.2 Germany
- 11.3.3 France
- 11.3.4 Italy
- 11.3.5 Russia
- 11.3.6 Belgium
- 11.3.7 Sweden
- 11.3.8 Rest of Europe
- 11.4 Asia Pacific
- 11.4.1 China
- 11.4.2 India
- 11.4.3 Japan
- 11.4.4 South Korea
- 11.4.5 Indonesia
- 11.4.6 Thailand
- 11.4.7 Vietnam
- 11.4.8 Rest of Asia Pacific
- 11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
- 11.5.3 Argentina
- 11.5.4 Rest of Latin America
- 11.6 MEA
- 11.6.1 South Africa
- 11.6.2 UAE
- 11.6.3 Saudi Arabia
- 11.6.4 Iran
- 11.6.5 Turkey
- 11.6.6 Rest of MEA
Chapter 12 Company Profiles
- 12.1 Dongfeng
- 12.2 Eicher Motor Limited
- 12.3 Ford Motor Company
- 12.4 Freightliner
- 12.5 GMC (General Motors Truck Company)
- 12.6 Hino Motors
- 12.7 International Truck (Navistar)
- 12.8 Isuzu Motors
- 12.9 Kenworth
- 12.10 Mack Trucks
- 12.11 MAN SE
- 12.12 Mitsubishi Fuso Truck and Bus Corporation
- 12.13 Peterbilt
- 12.14 Scania AB
- 12.15 Volvo Trucks
