Heavy Trucks Market Report 2026

The heavy trucks market size has grown steadily in recent years. It will grow from $65.72 billion in 2025 to $67.87 billion in 2026 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to industrialization and urban expansion, growth in goods transportation, diesel engine dominance, highway infrastructure expansion, rise in commercial vehicle financing.

The heavy trucks market size is expected to see steady growth in the next few years. It will grow to $80.2 billion in 2030 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to adoption of electric and hybrid heavy trucks, demand for fuel cost optimization, stricter emission compliance, growth in e commerce logistics, smart fleet management adoption. Major trends in the forecast period include shift toward alternative fuel heavy trucks, integration of safety and monitoring technologies, growth of long haul freight trucking, demand for higher payload capacity vehicles, fleet modernization and replacement cycles.

The tightening of vehicle emissions regulations is expected to drive the growth of the heavy trucks market. These regulations set limits on pollutants and greenhouse gases, compelling manufacturers to produce eco-friendly and compliant trucks. They also encourage fleet operators to replace older vehicles, increasing demand for sustainable heavy trucks that meet emissions standards, align with environmental goals, and reduce carbon footprints. For example, in March 2025, the U.S. Environmental Protection Agency (EPA) finalized rules building on the 2023-2026 vehicle emissions standards, leveraging clean vehicle technologies to cut pollution, improve public health, and reduce climate impact. These standards will phase in from model years 2027 to 2032. Therefore, rising regulations on vehicle emissions are a key driver fueling growth in the heavy trucks market.

Major players in the heavy-truck market are responding with innovations such as battery-electric and renewable-fuel heavy-duty trucks, aimed at improving fleet efficiency, lowering emissions, and complying with global sustainability requirements. Battery-electric and renewable-fuel trucks use electric batteries or engines powered by renewable fuels (e.g., HVO or biogas) to reduce emissions, improve energy efficiency, and lower operating costs. For instance, in January 2024, Volvo Group launched a new heavy-duty truck platform, including the Volvo VNL and Volvo FH Aero, which integrates energy-efficient engines with electrification and renewable-fuel options, advanced aerodynamics, upgraded powertrains, and modular electrification capabilities. These trucks offer reduced operating costs, quieter operation, and enhanced long-haul performance, enabling manufacturers to meet fleet operators’ demand for sustainable, high-performance heavy-truck solutions.

In March 2024, Hyundai Motor Company, a South Korea-based automotive manufacturer specializing in heavy trucks, formed a partnership with Iveco Group. This collaboration aims to advance the development of electric heavy-duty trucks in Europe by concentrating on battery and fuel cell technologies. By leveraging their respective strengths, Hyundai Motor and Iveco Group intend to promote innovation and expedite the shift toward sustainable transportation solutions. Iveco Group is a sales financing company based in Italy.

Major companies operating in the heavy trucks market report include Volkswagen AG, Kamaz Inc., China National Heavy Duty Truck Group Co. Ltd., Daimler Truck AG, Traton SE, Volvo Group, Paccar Inc., Isuzu Motors Limited, Tata Motors Limited, Dongfeng Motor Corporation, Iveco S.p.A., Hino Motors Ltd., Sinotruk Hong Kong Limited, Oshkosh Corporation, Navistar International Corporation, Fuso Truck and Bus Corporation, Ashok Leyland Limited, Mack Trucks Inc., Eicher Motors Limited, Kenworth Truck Company, Peterbilt Motors Company, Western Star Trucks Sales Inc., UD Trucks Corporation, Freightliner Trucks, MAN SE, Scania AB, First Automotive Works Ltd.

North America was the largest region in the heavy trucks market in 2025. Asia-Pacific was the second-largest region in the heavy trucks market share. The regions covered in the heavy trucks market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the heavy trucks market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The heavy trucks market consists of sales of 18-wheeler truck, refrigerator truck, dump truck, garbage truck, logging truck, concrete transport truck, tractor unit and tanker truck. 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.

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