
Class 8 Truck Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2034
Description
The Global Class 8 Truck Market was valued at USD 266.1 billion in 2024 and is estimated to grow at a CAGR of 7.1%, to reach USD 540.6 billion by 2034, driven by the expansion of global logistics networks, increasing adoption of electric and autonomous trucks, and strong growth in long-haul freight activities. Class 8 trucks, known for their heavy-duty capabilities and long-range transport efficiency, are critical assets for industries ranging from logistics and construction to utilities and mining. Technological advancements, including AI-powered predictive maintenance, telematics, and autonomous driving features, are revolutionizing the Class 8 trucking segment. Manufacturers are increasingly focusing on electric and hydrogen fuel cell technologies to meet stricter emissions standards and rising demand for sustainable transportation solutions.
Government incentives promoting zero-emission vehicles (ZEVs), coupled with major investments in charging and refueling infrastructure, are further accelerating market growth. Fleet operators are embracing connected truck technologies for real-time fleet management, route optimization, fuel efficiency, and compliance monitoring, boosting operational efficiency and reducing total cost of ownership (TCO). The rise of e-commerce and the need for faster regional and last-mile deliveries create additional opportunities for Class 8 truck applications.
The Class 8 Truck Market is primarily segmented by fuel type, with the diesel segment leading in 2024, generating USD 200.6 billion. Diesel trucks dominate long-haul and heavy-duty applications due to their superior torque output, durability, and widespread refueling infrastructure. However, significant innovation is underway to improve diesel engine efficiency and meet increasingly stringent emissions regulations through selective catalytic reduction (SCR) and diesel particulate filters (DPF).
Based on cab type, the sleeper cabs segment generated USD 192.8 billion in 2024. Sleeper cabs are essential for long-haul freight operations, providing enhanced comfort, rest facilities, and connectivity features for drivers covering extended distances. With a growing focus on driver retention, comfort, and safety, truck manufacturers are introducing premium amenities, advanced climate control, and ergonomic designs in sleeper cab models.
Asia Pacific Class 8 Truck Market generated USD 171.9 billion in 2024. The region’s market leadership is driven by rapid industrialization, a booming e-commerce sector, and substantial investments in road freight infrastructure across major economies such as China, India, and Japan. Meanwhile, North America and Europe are at the forefront of technological adoption, especially in electric and autonomous trucking solutions, fueled by regulatory initiatives and growing consumer demand for sustainable logistics.
Key market players such as Daimler Truck, Volvo Group, Tesla, PACCAR, Navistar, Scania, and Hyundai are actively advancing product innovations through investments in electrification, autonomous driving technologies, and AI-based fleet management systems. These companies are forming strategic partnerships with technology providers to enhance vehicle performance, safety, and sustainability, while also expanding their production capabilities to meet growing global demand.
Government incentives promoting zero-emission vehicles (ZEVs), coupled with major investments in charging and refueling infrastructure, are further accelerating market growth. Fleet operators are embracing connected truck technologies for real-time fleet management, route optimization, fuel efficiency, and compliance monitoring, boosting operational efficiency and reducing total cost of ownership (TCO). The rise of e-commerce and the need for faster regional and last-mile deliveries create additional opportunities for Class 8 truck applications.
The Class 8 Truck Market is primarily segmented by fuel type, with the diesel segment leading in 2024, generating USD 200.6 billion. Diesel trucks dominate long-haul and heavy-duty applications due to their superior torque output, durability, and widespread refueling infrastructure. However, significant innovation is underway to improve diesel engine efficiency and meet increasingly stringent emissions regulations through selective catalytic reduction (SCR) and diesel particulate filters (DPF).
Based on cab type, the sleeper cabs segment generated USD 192.8 billion in 2024. Sleeper cabs are essential for long-haul freight operations, providing enhanced comfort, rest facilities, and connectivity features for drivers covering extended distances. With a growing focus on driver retention, comfort, and safety, truck manufacturers are introducing premium amenities, advanced climate control, and ergonomic designs in sleeper cab models.
Asia Pacific Class 8 Truck Market generated USD 171.9 billion in 2024. The region’s market leadership is driven by rapid industrialization, a booming e-commerce sector, and substantial investments in road freight infrastructure across major economies such as China, India, and Japan. Meanwhile, North America and Europe are at the forefront of technological adoption, especially in electric and autonomous trucking solutions, fueled by regulatory initiatives and growing consumer demand for sustainable logistics.
Key market players such as Daimler Truck, Volvo Group, Tesla, PACCAR, Navistar, Scania, and Hyundai are actively advancing product innovations through investments in electrification, autonomous driving technologies, and AI-based fleet management systems. These companies are forming strategic partnerships with technology providers to enhance vehicle performance, safety, and sustainability, while also expanding their production capabilities to meet growing global demand.
Table of Contents
162 Pages
- Chapter 1 Research Methodology
- 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, 2021-2034
- 2.2 Business trends
- 2.3 Regional trends
- 2.4 Fuel trends
- 2.5 Cab trends
- 2.6 Application trends
- 2.7 Axle trends
- 2.8 Horsepower trends
- 2.9 Ownership trends
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Raw material suppliers
- 3.1.2 Component suppliers
- 3.1.3 Technology providers
- 3.1.4 Manufacturers
- 3.1.5 Service providers
- 3.1.6 Distributors
- 3.1.7 End users
- 3.2 Supplier landscape
- 3.3 Technology and innovation landscape
- 3.3.1 Powertrain and Propulsion Technologies
- 3.3.2 Connectivity & Telematics
- 3.3.3 Autonomous and Driver Assistance Technologies
- 3.3.4 Fuel Efficiency & Aerodynamics
- 3.3.5 Smart Energy & Charging Infrastructure
- 3.4 Patent analysis
- 3.5 Key news and initiatives
- 3.6 Regulatory landscape
- 3.6.1 North America
- 3.6.1.1 Greenhouse gas (GHG) emissions standards
- 3.6.1.2 Advanced clean trucks (act) regulation
- 3.6.1.3 Electronic logging device (ELD) mandate
- 3.6.1.4 Heavy-Duty NOx Omnibus Regulation (CARB, 2021)
- 3.6.2 Europe
- 3.6.2.1 Euro VI emission standards (Regulation (EC) No 595/2009)
- 3.6.2.2 EU green deal & coâ emission standards (Regulation (EU) 2019/1242)
- 3.6.2.3 Mobility package I - driving & rest time regulation (Regulation (EU) 2020/1054)
- 3.6.2.4 General safety regulation (Regulation (EU) 2019/2144)
- 3.6.2.5 Alternative fuels infrastructure regulation (AFIR)
- 3.6.3 Asia Pacific
- 3.6.3.1 China VI emission standards (GB 17691-2018)
- 3.6.3.2 Bharat stage VI (BS-VI) norms (central motor vehicles rules, 1989)
- 3.6.3.3 Post new long-term (PNLT) emission standards
- 3.6.3.4 Australian design rules (ADR 80/04) under motor vehicle standards act 1989
- 3.6.4 Latin America
- 3.6.4.1 PROCONVE P8 (Conama resolution 490/2018)
- 3.6.4.2 Euro V standard (Resolution 1464/2014)
- 3.6.4.3 DTO-20/2017
- 3.6.5 MEA
- 3.6.5.1 United Arab Emirates (UAE): Euro IV emission standards
- 3.6.5.2 Southern African development community (SADC): low sulfur diesel standards
- 3.6.5.3 East African community (EAC) countries: Euro IV emission standards
- 3.7 Industry impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Expansion of logistic networks and E-commerce globally
- 3.7.1.2 Technological advancements in trucking efficiency and safety features
- 3.7.1.3 Increasing long-haul freight activities bolstering class 8 truck utilization
- 3.7.1.4 Rising electrification and alternative fuel adoption
- 3.7.2 Industry pitfalls and challenges
- 3.7.2.1 High cost of advanced technology integration
- 3.7.2.2 Economic slowdown affecting freight demand
- 3.8 Growth potential analysis
- 3.9 Porter's analysis
- 3.10 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 Class 8 Truck Market, By Fuel
- 5.1 Key trends
- 5.2 Diesel
- 5.3 Natural Gas
- 5.4 Hybrid Electric
- 5.5 Others
- Chapter 6 Class 8 Truck Market, By Cab
- 6.1 Key trends
- 6.2 Day Cab
- 6.3 Sleeper Cab
- Chapter 7 Class 8 Truck Market, By Application
- 7.1 Key trends
- 7.2 Freight delivery
- 7.3 Utility services
- 7.4 Construction & mining
- 7.5 Others
- Chapter 8 Class 8 Truck Market, By Axle
- 8.1 Key trends
- 8.2 4x2
- 8.3 6x4
- 8.4 6x2
- Chapter 9 Class 8 Truck Market, By Horsepower
- 9.1 Key trends
- 9.2 Below 300 HP
- 9.3 300HP - 400HP
- 9.4 400HP - 500HP
- 9.5 500HP & Above
- Chapter 10 Class 8 Truck Market, By Ownership
- 10.1 Key trends
- 10.2 Fleet operator
- 10.3 Independent operator
- Chapter 11 Class 8 Truck Market, By Region
- 11.1 Key trends
- 11.2 North America
- 11.3 Europe
- 11.4 Asia Pacific
- 11.5 Latin America
- 11.6 MEA
- Chapter 12 Company Profiles
- 12.1 Daimler Truck
- 12.1.3 Financial data
- 12.1.3.1 Sales Revenue, 2021-2024
- 12.1.4 Product Landscape
- 12.1.5 Strategic Outlook
- 12.1.6 SWOT Analysis
- 12.2 Dongfeng Motor Corporation
- 12.2.1 Global overview
- 12.2.2 Market/business overview
- 12.2.3 Financial data
- 12.2.4 Product landscape
- 12.2.5 SWOT analysis
- 12.3.1 Global Overview
- 12.3.3 Financial Data
- 12.3.3.1 Sales Revenue, 2021-2024
- 12.3.4 Product Landscape
- 12.3.5 Strategic Outlook
- 12.3.6 SWOT Analysis
- 12.4 Hino Motors Sales U.S.A. Inc.
- 12.4.1 Global overview
- 12.4.2 Market/business overview
- 12.4.3 Financial data
- 12.4.3.1 Sales revenue, 2022-2024
- 12.4.4 Product landscape
- 12.4.5 Strategic outlook
- 12.4.6 SWOT analysis
- 12.5 International Motors LLC
- 12.5.1 Global Overview
- 12.5.2 Market/Business Overview
- 12.5.3 Financial data
- 12.5.3.1 Sales Revenue, 2022-2024
- 12.5.4 Product Landscape
- 12.5.5 Strategic Outlook
- 12.5.6 SWOT Analysis
- 12.6 Isuzu Motors
- 12.6.1 Global Overview
- 12.6.2 Market/Business Overview
- 12.6.3 Financial data
- 12.6.3.1 Sales Revenue, 2021-2024
- 12.6.4 Product Landscape
- 12.6.5 Strategic Outlook
- 12.6.6 SWOT Analysis
- 12.7 Kenworth Trucks
- 12.7.1 Global Overview
- 12.7.2 Market/Business Overview
- 12.7.3 Financial data
- 12.7.3.1 Sales Revenue, 2021-2024
- 12.7.4 Product Landscape
- 12.7.5 Strategic Outlook
- 12.7.6 SWOT Analysis
- 12.8 Mack Trucks
- 12.8.1 Global Overview
- 12.8.2 Market/Business Overview
- 12.8.3 Financial data
- 12.8.3.1 Sales revenue, 2022-2024
- 12.8.4 Product Landscape
- 12.8.5 Strategic Outlook
- 12.8.6 SWOT Analysis
- 12.9 MAN SE
- 12.9.1 Global overview
- 12.9.2 Market/Business overview
- 12.9.3 Financial data
- 12.9.3.1 Sales revenue, 2022-2023
- 12.9.4 Product landscape
- 12.9.5 Strategic outlook
- 12.9.6 SWOT Analysis
- 12.10 Mitsubishi Electric Corporation
- 12.10.1 Global overview
- 12.10.2 Market/business overview
- 12.10.3 Financial data
- 12.10.3.1 Sales revenue, 2021-2024
- 12.10.4 Product landscape
- 12.10.5 Strategic outlook
- 12.10.6 SWOT analysis
- 12.11 Peterbilt
- 12.11.1 Global Overview
- 12.11.2 Market/Business Overview
- 12.11.3 Financial data
- 12.11.3.1 Sales Revenue, 2021-2024
- 12.11.4 Product Landscape
- 12.11.5 Strategic Outlook
- 12.11.6 SWOT Analysis
- 12.12 Scania AB
- 12.12.1 Global overview
- 12.12.2 Market/Business overview
- 12.12.3 Financial data
- 12.12.3.1 Sales revenue, 2021-2024
- 12.12.4 Product landscape
- 12.12.5 Strategic outlook
- 12.12.6 SWOT analysis
- 12.13 Volvo Group
- 12.13.1 Global overview
- 12.13.2 Market/Business overview
- 12.13.3 Financial data
- 12.13.3.1 Sales revenue, 2022-2024
- 12.13.4 Product landscape
- 12.13.5 Strategic outlook
- 12.13.6 SWOT analysis
- 12.14 Research practices
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