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Medium and Heavy Commercial Vehicles Market Report 2025

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    Report

  • 200 Pages
  • April 2025
  • Region: Global
  • The Business Research Company
  • ID: 6035562
This Medium and Heavy Commercial Vehicles market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The medium and heavy commercial vehicles market size has grown strongly in recent years. It will grow from $333.98 billion in 2024 to $363.36 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to rising investments in infrastructure, growing urban areas, global trade expansion, increasing fuel efficiency regulations, and rising demand for logistics and supply chain needs.

The medium and heavy commercial vehicles market size is expected to see strong growth in the next few years. It will grow to $504.97 billion in 2029 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing demand for commercial vehicles, an increase in disposable income, rapid growth in e-commerce, rising demand from the construction sector, and increased demand for material transportation. Major trends in the forecast period include the adoption of autonomous driving technologies, the integration of telematics systems, a focus on vehicle-to-everything (V2X) communication, growth in vehicle sharing and leasing models, and the development of alternative fuel sources.

The growing e-commerce sector is anticipated to drive the expansion of the medium and heavy commercial vehicles market. The surge in e-commerce is attributed to increasing internet penetration, the convenience of online shopping, and technological advancements, which were further accelerated by the COVID-19 pandemic. Medium and heavy commercial vehicles play a crucial role in e-commerce by enabling the efficient transport of large volumes of goods over long distances, thus ensuring timely deliveries and optimizing supply chains. For example, in May 2024, a report from the Census Bureau of the Department of Commerce, a US-based governmental agency, indicated that e-commerce sales reached approximately $1.11 trillion in 2023. In the first quarter of 2024, total retail sales were estimated at $1.82 trillion, with e-commerce sales increasing by 8.5% (±1.1%) compared to the same period in 2023, while total retail sales grew by 2.8% (±0.5%). Hence, the rise in e-commerce activities is fueling the growth of the medium and heavy commercial vehicles market.

Key players in the medium and heavy commercial vehicle market are concentrating on developing advanced products, such as high-payload capacity trucks, to meet evolving market demands and improve fuel efficiency, performance, and sustainability. High-payload capacity trucks are designed to carry substantial cargo loads, often exceeding the standard limits for their category. For instance, in October 2023, Ashok Leyland, an India-based commercial vehicle manufacturer, introduced the Ecomet Star 1915 truck with a Gross Vehicle Weight (GVW) of 18.49 tons in the Intermediate Commercial Vehicle (ICV) segment. The truck offers an impressive payload capacity of 12.91 tons, suitable for heavy-duty applications. It is equipped with a robust 110 kW (150 hp) H4 engine producing 450 Nm of torque, ensuring strong performance for long-distance travel. Additionally, it features a newly designed, wider 2.34-meter load body as a standard, enhancing loading efficiency.

In March 2024, Morgan Truck Body LLC, a US-based manufacturer specializing in dry freight and refrigerated truck bodies, acquired Transit Truck Bodies Inc. for an undisclosed amount. This acquisition expands Morgan Truck Body's North American footprint to 14 locations and leverages Transit Truck Bodies' expertise, strengthening Morgan's capability to deliver innovative truck body solutions across the continent. Transit Truck Bodies Inc. is a Canada-based manufacturer of truck bodies.

Major companies operating in the medium and heavy commercial vehicles market are Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, Mercedes-Benz Group AG, Hyundai Motor Company, Daimler Truck AG, AB Volvo, Tata Motors Limited, PACCAR Inc, Isuzu Motors Limited, Mitsubishi Motors Corporation, Dongfeng Motor Corporation, Scania AB, Iveco S.p.A., Mahindra & Mahindra Limited, MAN SE, Beiqi Foton Motor Co. Ltd., Ashok Leyland Limited, Mack Trucks Inc., Force Motors Limited, UD Trucks Corporation, Oy Sisu Auto Ab.

Asia-Pacific was the largest region in the medium and heavy commercial vehicles market in 2023 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the medium and heavy commercial vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medium and heavy commercial vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Medium and heavy commercial vehicles (MHCVs) include trucks and buses with a gross vehicle weight (GVW) typically ranging from 6 to over 16 tons. These vehicles are mainly used for transporting goods or passengers over long distances and are employed in industrial or commercial settings.

The primary types of medium and heavy commercial vehicles are trucks, buses, and construction and mining equipment. Trucks in this category are large, motorized vehicles designed mainly for transporting goods and materials over long distances. They are crucial for logistics, construction, and various industrial uses. These vehicles are classified by gross vehicle weight into medium commercial vehicles (MCVs) and heavy commercial vehicles (HCVs). They use various propulsion types, including internal combustion (IC) engines, plug-in hybrid electric, battery electric, and alternative fuel-powered systems. The tonnage ranges from 3.5-7.5 tons, 7.5-16 tons, to over 16 tons, with applications spanning logistics and transportation, construction and mining, passenger transport, and defense and government.

The medium and heavy commercial vehicles market research report is one of a series of new reports that provides medium and heavy commercial vehicles market statistics, including medium and heavy commercial vehicles industry global market size, regional shares, competitors with a medium and heavy commercial vehicles market share, detailed medium and heavy commercial vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the medium and heavy commercial vehicles industry. This medium and heavy commercial vehicles 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 medium and heavy commercial vehicles market consists of sales of delivery vans, refrigerated trucks, stake trucks, dump trucks, heavy haulage trucks, and heavy-duty buses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.

This product will be delivered within 3-5 business days.

Table of Contents

1. Executive Summary2. Medium and Heavy Commercial Vehicles Market Characteristics3. Medium and Heavy Commercial Vehicles Market Trends and Strategies4. Medium and Heavy Commercial Vehicles Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market
5. Global Medium and Heavy Commercial Vehicles Growth Analysis and Strategic Analysis Framework
5.1. Global Medium and Heavy Commercial Vehicles PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis of End Use Industries
5.3. Global Medium and Heavy Commercial Vehicles Market Growth Rate Analysis
5.4. Global Medium and Heavy Commercial Vehicles Historic Market Size and Growth, 2019-2024, Value ($ Billion)
5.5. Global Medium and Heavy Commercial Vehicles Forecast Market Size and Growth, 2024-2029, 2034F, Value ($ Billion)
5.6. Global Medium and Heavy Commercial Vehicles Total Addressable Market (TAM)
6. Medium and Heavy Commercial Vehicles Market Segmentation
6.1. Global Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Trucks
  • Buses
  • Construction and Mining Equipment
6.2. Global Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Medium Commercial Vehicles (MCV)
  • Heavy Commercial Vehicles (HCV)
6.3. Global Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Internal Combustion (IC) Engine
  • Plug-in Hybrid Electric
  • Battery Electric
  • Alternative Fuel Powered
6.4. Global Medium and Heavy Commercial Vehicles Market, Segmentation by Tonnage, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
3.5 - 7.5 Ton
7.5 - 16 Ton
  • Above 16 Ton
6.5. Global Medium and Heavy Commercial Vehicles Market, Segmentation by Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Logistics and Transportation
  • Construction and Mining
  • Passenger Transportation
  • Defense and Government
6.6. Global Medium and Heavy Commercial Vehicles Market, Sub-Segmentation of Trucks, by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Light Trucks
  • Medium Trucks
  • Heavy-Duty Trucks
  • Vocational Trucks
  • Refrigerated Trucks
6.7. Global Medium and Heavy Commercial Vehicles Market, Sub-Segmentation of Buses, by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • City Buses
  • Intercity Buses
  • School Buses
  • Tourist Buses
  • Electric Buses
6.8. Global Medium and Heavy Commercial Vehicles Market, Sub-Segmentation of Construction and Mining Equipment, by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Excavators
  • Bulldozers
  • Dump Trucks
  • Loaders
  • Graders
7. Medium and Heavy Commercial Vehicles Market Regional and Country Analysis
7.1. Global Medium and Heavy Commercial Vehicles Market, Split by Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Medium and Heavy Commercial Vehicles Market, Split by Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8. Asia-Pacific Medium and Heavy Commercial Vehicles Market
8.1. Asia-Pacific Medium and Heavy Commercial Vehicles Market Overview
  • Region Information, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.3. Asia-Pacific Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.4. Asia-Pacific Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
9. China Medium and Heavy Commercial Vehicles Market
9.1. China Medium and Heavy Commercial Vehicles Market Overview
9.2. China Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.3. China Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.4. China Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
10. India Medium and Heavy Commercial Vehicles Market
10.1. India Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.2. India Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.3. India Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11. Japan Medium and Heavy Commercial Vehicles Market
11.1. Japan Medium and Heavy Commercial Vehicles Market Overview
11.2. Japan Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.3. Japan Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.4. Japan Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12. Australia Medium and Heavy Commercial Vehicles Market
12.1. Australia Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.2. Australia Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.3. Australia Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13. Indonesia Medium and Heavy Commercial Vehicles Market
13.1. Indonesia Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.2. Indonesia Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.3. Indonesia Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14. South Korea Medium and Heavy Commercial Vehicles Market
14.1. South Korea Medium and Heavy Commercial Vehicles Market Overview
14.2. South Korea Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.3. South Korea Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.4. South Korea Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15. Western Europe Medium and Heavy Commercial Vehicles Market
15.1. Western Europe Medium and Heavy Commercial Vehicles Market Overview
15.2. Western Europe Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.3. Western Europe Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.4. Western Europe Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16. UK Medium and Heavy Commercial Vehicles Market
16.1. UK Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.2. UK Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.3. UK Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17. Germany Medium and Heavy Commercial Vehicles Market
17.1. Germany Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.2. Germany Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.3. Germany Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18. France Medium and Heavy Commercial Vehicles Market
18.1. France Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.2. France Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.3. France Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19. Italy Medium and Heavy Commercial Vehicles Market
19.1. Italy Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.2. Italy Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.3. Italy Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20. Spain Medium and Heavy Commercial Vehicles Market
20.1. Spain Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.2. Spain Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.3. Spain Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21. Eastern Europe Medium and Heavy Commercial Vehicles Market
21.1. Eastern Europe Medium and Heavy Commercial Vehicles Market Overview
21.2. Eastern Europe Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.3. Eastern Europe Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.4. Eastern Europe Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22. Russia Medium and Heavy Commercial Vehicles Market
22.1. Russia Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.2. Russia Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.3. Russia Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23. North America Medium and Heavy Commercial Vehicles Market
23.1. North America Medium and Heavy Commercial Vehicles Market Overview
23.2. North America Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.3. North America Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.4. North America Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24. USA Medium and Heavy Commercial Vehicles Market
24.1. USA Medium and Heavy Commercial Vehicles Market Overview
24.2. USA Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.3. USA Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.4. USA Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25. Canada Medium and Heavy Commercial Vehicles Market
25.1. Canada Medium and Heavy Commercial Vehicles Market Overview
25.2. Canada Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.3. Canada Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.4. Canada Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26. South America Medium and Heavy Commercial Vehicles Market
26.1. South America Medium and Heavy Commercial Vehicles Market Overview
26.2. South America Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.3. South America Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.4. South America Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27. Brazil Medium and Heavy Commercial Vehicles Market
27.1. Brazil Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.2. Brazil Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.3. Brazil Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28. Middle East Medium and Heavy Commercial Vehicles Market
28.1. Middle East Medium and Heavy Commercial Vehicles Market Overview
28.2. Middle East Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.3. Middle East Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.4. Middle East Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29. Africa Medium and Heavy Commercial Vehicles Market
29.1. Africa Medium and Heavy Commercial Vehicles Market Overview
29.2. Africa Medium and Heavy Commercial Vehicles Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.3. Africa Medium and Heavy Commercial Vehicles Market, Segmentation by Gross Vehicle Weight, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.4. Africa Medium and Heavy Commercial Vehicles Market, Segmentation by Propulsion Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
30. Medium and Heavy Commercial Vehicles Market Competitive Landscape and Company Profiles
30.1. Medium and Heavy Commercial Vehicles Market Competitive Landscape
30.2. Medium and Heavy Commercial Vehicles Market Company Profiles
30.2.1. Volkswagen AG Overview, Products and Services, Strategy and Financial Analysis
30.2.2. Toyota Motor Corporation Overview, Products and Services, Strategy and Financial Analysis
30.2.3. Ford Motor Company Overview, Products and Services, Strategy and Financial Analysis
30.2.4. Mercedes-Benz Group AG Overview, Products and Services, Strategy and Financial Analysis
30.2.5. Hyundai Motor Company Overview, Products and Services, Strategy and Financial Analysis
31. Medium and Heavy Commercial Vehicles Market Other Major and Innovative Companies
31.1. Daimler Truck AG
31.2. AB Volvo
31.3. Tata Motors Limited
31.4. PACCAR Inc
31.5. Isuzu Motors Limited
31.6. Mitsubishi Motors Corporation
31.7. Dongfeng Motor Corporation
31.8. Scania AB
31.9. Iveco S.p.a.
31.10. Mahindra & Mahindra Limited
31.11. MAN SE
31.12. Beiqi Foton Motor Co. Ltd.
31.13. Ashok Leyland Limited
31.14. Mack Trucks Inc.
31.15. Force Motors Limited
32. Global Medium and Heavy Commercial Vehicles Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Medium and Heavy Commercial Vehicles Market34. Recent Developments in the Medium and Heavy Commercial Vehicles Market
35. Medium and Heavy Commercial Vehicles Market High Potential Countries, Segments and Strategies
35.1 Medium and Heavy Commercial Vehicles Market in 2029 - Countries Offering Most New Opportunities
35.2 Medium and Heavy Commercial Vehicles Market in 2029 - Segments Offering Most New Opportunities
35.3 Medium and Heavy Commercial Vehicles Market in 2029 - Growth Strategies
35.3.1 Market Trend Based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Medium and Heavy Commercial Vehicles Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on medium and heavy commercial vehicles 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.

Reasons to Purchase:

  • Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
  • Assess the impact of key macro factors such as conflict, pandemic and recovery, inflation and interest rate environment and the 2nd Trump presidency.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.

Description

Where is the largest and fastest growing market for medium and heavy commercial vehicles ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medium and heavy commercial vehicles market global report 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 market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • 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.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

1) By Vehicle Type: Trucks; Buses; Construction and Mining Equipment
2) By Gross Vehicle Weight: Medium Commercial Vehicles (MCV); Heavy Commercial Vehicles (HCV))
3) By Propulsion Type: Internal Combustion (IC) Engine; Plug-in Hybrid Electric; Battery Electric; Alternative Fuel Powered
4) By Tonnage: 3.5 - 7.5 Ton; 7.5 - 16 Ton; Above 16 Ton
5) By Application: Logistics and Transportation; Construction and Mining; Passenger Transportation; Defense and Government

Subsegments:

1) By Trucks: Light Trucks; Medium Trucks; Heavy-Duty Trucks; Vocational Trucks; Refrigerated Trucks
2) By Buses: City Buses; Intercity Buses; School Buses; Tourist Buses; Electric Buses
3) By Construction and Mining Equipment: Excavators; Bulldozers; Dump Trucks; Loaders; Graders

Key Companies Mentioned: Volkswagen AG; Toyota Motor Corporation; Ford Motor Company; Mercedes-Benz Group AG; Hyundai Motor Company

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Companies Mentioned

The major companies featured in this Medium and Heavy Commercial Vehicles market report include:
  • Volkswagen AG
  • Toyota Motor Corporation
  • Ford Motor Company
  • Mercedes-Benz Group AG
  • Hyundai Motor Company
  • Daimler Truck AG
  • AB Volvo
  • Tata Motors Limited
  • PACCAR Inc
  • Isuzu Motors Limited
  • Mitsubishi Motors Corporation
  • Dongfeng Motor Corporation
  • Scania AB
  • Iveco S.p.A.
  • Mahindra & Mahindra Limited
  • MAN SE
  • Beiqi Foton Motor Co. Ltd.
  • Ashok Leyland Limited
  • Mack Trucks Inc.
  • Force Motors Limited
  • UD Trucks Corporation
  • Oy Sisu Auto Ab

Table Information