PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1698601
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1698601
Class 8 Truck Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025-2034
The Global Class 8 Truck Market reached a valuation of USD 265.9 billion in 2024 and is projected to grow at a CAGR of 4.5% between 2025 and 2034. Market expansion is fueled by increasing international trade, infrastructure development, and growing demand for efficient freight transportation. The liberalization of trade policies and cross-border connectivity initiatives have driven the need for high-performance trucks to support logistics and supply chain operations. Expanding industrial sectors and the rise of global e-commerce are further amplifying demand, leading to higher investments in advanced trucking solutions.
The integration of modern technologies is transforming the industry, with fleet operators adopting autonomous driving systems, telematics, and advanced safety features to improve efficiency and reduce operational costs. Rising expectations for fleet optimization and driver safety encourage businesses to invest in vehicles equipped with cutting-edge capabilities, accelerating market competition and technological advancements. Industry players are focused on enhancing vehicle design, fuel efficiency, and sustainability to align with evolving environmental regulations and logistics requirements.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $265.9 Billion |
| Forecast Value | $399.5 Billion |
| CAGR | 4.5% |
The market is segmented based on fuel types, including diesel, natural gas, and hybrid electric models. In 2024, diesel-powered trucks accounted for more than 75% of the total market share. These vehicles remain the preferred choice due to their durability, high torque output, and ability to cover long distances without frequent refueling. Heavy-duty freight transport, construction, and other industrial applications continue to rely heavily on diesel engines, supported by a well-established refueling infrastructure. While the industry is gradually shifting toward alternative fuels, diesel trucks maintain strong market dominance due to their reliability and cost-effectiveness.
In terms of vehicle configuration, the market is divided into day cab and sleeper cab variants. In 2024, sleeper cabs represented over 72% of the total market, driven by the growing demand for long-haul transportation. These trucks provide drivers with comfortable resting spaces, helping companies comply with mandated rest periods and improving workforce retention. Advanced sleeper cab models come with integrated safety technologies such as lane departure warning, adaptive cruise control, and blind spot detection, enhancing operational safety and efficiency.
Regionally, the Asia-Pacific sector is experiencing significant growth, with China leading the segment, generating approximately USD 144 million in revenue in 2024. Rapid urbanization, economic expansion, and increasing infrastructure investments across major economies contribute to heightened demand for Class 8 trucks. The expansion of logistics networks and e-commerce businesses is further pushing the need for efficient transportation systems. Rising industrial output and government-backed infrastructure projects ensure that demand for freight vehicles remains strong, positioning the region as a key growth hub in the global Class 8 truck market.
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 3600 synopsis, 2021 - 2034
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 Use
- 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, 2024
- 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 - 2034 ($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, 2021 - 2034 ($Mn & Units)
- 6.1 Key trends
- 6.2 Day cab
- 6.3 Sleeper cab
Chapter 7 Market Estimates & Forecast, By Application, 2021 - 2034 ($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 - 2034 ($Mn & Units)
- 8.1 Key trends
- 8.2 4x2
- 8.3 6x4
- 8.4 6x2
Chapter 9 Market Estimates & Forecast, By Horsepower, 2021 - 2034 ($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 - 2034 ($Mn & Units)
- 10.1 Key trends
- 10.2 Fleet operator
- 10.3 Independent operator
Chapter 11 Market Estimates & Forecast, By Region, 2021 - 2034 ($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
- 11.4 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
- 11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
- 11.5.3 Argentina
- 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
Chapter 12 Company Profiles
- 12.1 Dongfeng
- 12.2 Eicher
- 12.3 Ford
- 12.4 Freightliner
- 12.5 GMC (General Motors Truck Company)
- 12.6 Hino
- 12.7 International Truck (Navistar)
- 12.8 Isuzu
- 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
- 12.15 Volvo
