PUBLISHER: The Business Research Company | PRODUCT CODE: 1712309
PUBLISHER: The Business Research Company | PRODUCT CODE: 1712309
Automobile and heavy equipment trucking is a specialized transportation service dedicated to the relocation of automobiles and substantial machinery, particularly required for construction and mining operations that demand the use of robust, high-payload-bearing trucks and transportation equipment for the efficient transfer of goods from one destination to another.
The primary segments within the automobile and heavy equipment trucking market encompass distinct service categories, including business services, managed services, system integrators, and various others. Business services pertain to the provision of over-the-road transportation solutions for automobiles and heavy machinery by a wide array of enterprises. The market is further classified by the size of trucks, differentiating among heavy trucks, medium trucks, and light trucks. Additionally, the market is categorized by application, spanning the transportation of cars and light trucks, medium and heavy trucks, farm and construction equipment, and other related segments.
The automobile and heavy equipment trucking market research report is one of a series of new reports from The Business Research Company that provides automobile and heavy equipment trucking market statistics, including automobile and heavy equipment trucking industry global market size, regional shares, competitors with an automobile and heavy equipment trucking market share, detailed automobile and heavy equipment trucking market segments, market trends and opportunities, and any further data you may need to thrive in the automobile and heavy equipment trucking industry. This automobile and heavy equipment trucking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automobiles and heavy equipment market size has grown strongly in recent years. It will grow from $380.98 billion in 2024 to $418.18 billion in 2025 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to industrialization and urbanization, increasing demand for personal transportation, government policies and regulations, rising disposable income and economic growth.
The automobiles and heavy equipment market size is expected to see strong growth in the next few years. It will grow to $570.08 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to growing demand for electric and hybrid vehicles, adoption of automation and robotics technology, increasing focus on sustainability and energy efficiency, private sector investment and real estate sector growth. Major trends in the forecast period include use of artificial intelligence, advances in technology, supply chain traceability, use of high-resolution imaging radar technology and adoption of automated software solutions.
The increasing demand for autonomous transportation is poised to be a driving force behind the growth of the automobile and heavy equipment trucking markets in the coming years. Autonomous vehicles, equipped with fully automated driving systems, have the capability to respond to external conditions and navigate routes without human intervention. For example, as of January 2022, data from G2.com Inc., a US-based corporation specializing in information technology and the internet, reveals that the global autonomous vehicle industry is experiencing a remarkable annual growth rate of 16%. More than 1,400 self-driving trucks, cars, and other vehicles are currently undergoing evaluations and trials. This surge in the demand for autonomous transportation is a significant factor propelling the expansion of the automobile and heavy equipment trucking markets.
The rising number of freight transportation projects is anticipated to be a key driver for the growth of the automobile and heavy equipment trucking market in the coming years. Freight transportation projects encompass the movement of large, heavy, complex, or high-value equipment and cargo, whether by land, sea, or air, including break bulk cargoes. The increasing prevalence of such projects is contributing to the expansion of the industry and creating a higher demand for heavy-duty trucking services. Ensuring the availability of secure, accessible, and safe truck parking facilities is essential for the efficient transportation of goods and cargo. For example, data from the United States Bureau of Transportation Statistics, a US-based organization specializing in data collection, analysis, and dissemination in the field of transportation, reported that in August 2022, the Freight Transportation Services Index (TSI), which measures the volume of freight moved by the for-hire transportation sector, increased by 1.7% in June, reaching an all-time high and marking the second consecutive month of growth. Over the course of the year from June 2021 to June 2022, the index rose by 4.6%. Consequently, the proliferation of freight transportation projects is a driving force behind the growth of the automobile and heavy equipment trucking market.
Major companies in the automobile and heavy equipment trucking market are increasingly focusing on developing innovative technological solutions, such as revamped heavy-duty trucks, to better meet consumer demands and enhance operational efficiency. Revamped heavy-duty trucks feature upgrades that improve performance, fuel efficiency, safety systems, and incorporate modern technology, catering to industries like construction and logistics. For example, in November 2023, Eicher Motors Limited, an India-based automotive company, launched the Non-Stop Series, a line of heavy-duty trucks designed for long-haul transportation in India. This series includes four models-Eicher Pro 6019XPT, Eicher Pro 6048XP, Eicher Pro 6055XP, and Eicher Pro 6055XP 4x2-powered by robust VEDX engines that improve performance and torque. These trucks are equipped with advanced connectivity solutions, including an Uptime Center for predictive diagnostics, ensuring minimal downtime and meeting the demands of the construction and infrastructure industries.
Major companies are focusing on heavy-duty rigid trucks to cater to existing consumer needs. These large, non-articulated vehicles are designed for transporting substantial loads, commonly used in industries such as construction and logistics due to their stability and durability. For instance, in August 2024, BharatBenz, an India-based automotive company, launched a new range of heavy-duty rigid trucks in India, tailored for diverse payload applications like bitumen and bulk materials. Powered by a new 6.7-liter BSVI-Stage 2 diesel engine, the trucks offer up to 306 horsepower and feature the EFFI+ package for improved fuel efficiency. Other innovations include compliance with stringent EU safety norms and advanced driver monitoring systems. Additionally, customers will benefit from a 10 lakh km Annual Maintenance Contract (AMC), improving operational reliability and reducing total ownership costs.
In September 2024, JLG Industries, Inc., a US-based manufacturer of access equipment, acquired AUSACORP S.L. for an undisclosed amount. Through this acquisition, JLG aims to enhance its telehandlers and compact all-terrain machinery offerings, strengthen its position in the construction and material handling markets, and expand into specialty sectors like agriculture and landscaping. AUSACORP S.L., a Spain-based company, specializes in designing, manufacturing, and selling compact all-terrain industrial vehicles.
Major companies operating in the automobiles and heavy equipment market include American Rail Center Logistics, CEVA Logistics, DHL, FedEx Corporation, United Parcel Service Inc., Schneider National Inc., C.H. Robinson, J.B. Hunt Transport Services Inc., Toyota Motor Corporation, Volkswagen Group, Mercedes-Benz Group AG, Ford Motor Company, General Motors Company, Honda Motor Co. Ltd., Bayerische Motoren Werke AG, Nissan Motor Co. Ltd., Fiat Chrysler Automobiles NV, Hyundai Motor Group, Tata Motors Limited, Mitsubishi Motors Corporation, Volvo Group, Isuzu Motors Limited, Mazda Motor Corporation, Suzuki Motor Corporation, Scania AB, PACCAR Inc., Navistar Inc., CNH Industrial NV, Caterpillar Inc., Komatsu Ltd., Deere and Company, Hitachi Construction Machinery Co. Ltd., Liebherr Group, Terex Corporation, Manitowoc Company Inc.
Asia-Pacific was the largest region in the automobiles and heavy equipment market in 2024. North America was the second largest region in the automobiles and heavy equipment market. The regions covered in the automobiles and heavy equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automobiles and heavy equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The automobile and heavy equipment trucking market includes revenues earned by entities by providing transportation services for the movement of heavy goods such as automotive engines and related parts and construction materials. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automobiles And Heavy Equipment Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automobiles and heavy equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automobiles and heavy equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automobiles and heavy equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.