Global truck market stood around USD809.46 billion and is expected to grow at a CAGR of 7.50% in terms of value over the next five years to reach a value of USD1,238.84 billion, on the back of continuously improving road infrastructure, long distance transportation and large number of construction activities taking place around the world.

Global truck market can be segmented based on application, truck tonnage capacity, fuel type, vehicle type, company and region.

Global truck market based on region is segmented into North America, Asia Pacific, Europe, South America, Middle East and Africa, with North America region dominating the market over other regions by fair margin. Among all the countries, the United States is dominating the market based on truck sales. The increasing demand for truck trailer sales for business applications is driving the sales of trucks with it. Truck trailers have applications worldwide, making them an in-demand product all the time and across the globe. Majorly truck trailers are used in sectors like logistics, mining, construction, retail, oil and gas, agriculture, etc. As of 2019, according to the National Action Plans on Business and Human Rights, there are approximately 400 million small and medium-sized enterprises globally, and the number is anticipated to increase even further with the growing urbanization all around the world. Most small and medium sized enterprises need trucks to grow their business continuously. Due to the unendingly growing establishments of SMEs, the sales of trucks are continuously increasing across the globe. Moreover, due to the expanding global economy and increasing per capita income, the production of two-wheelers and four-wheeler vehicles have been increasing globally. The growing sales of two-wheelers and four-wheelers globally is also necessitating the need for truck trailers for transportation of these vehicles which is driving the truck sales globally. Heavy duty trucks and medium duty trucks are highly used in construction and mining. These trucks are equipped with truck trailers that are used to carry machineries and need raw materials for the construction and mining activities. With the growing urbanization and the increasing demand for construction activities the demand of trucks is increasing in the countries across the globe.

In 2020, truck sales declined in comparison to 2019 as countries around the world underwent strict lockdown in the second and third quarter of 2020 as a measure to counter the spread of the COVID-19. The lockdown resulted in the temporary closing down of all factories, including truck manufacturing facilities, resulting in production loss of trucks. Furthermore, the governments of most of the COVID-19 affected countries infused social distancing norms that limited the number of workers working at any given point in the same facility. Such measures hampered the workflow of truck manufacturing facilities temporarily. Nevertheless, the market is showing positive signs of recovery and is anticipated to recover in around two years.

Some of the major market players operating globally in truck market are Daimler AG., Tata motors limited, Dongfeng Motor Corporation, Navistar Inc., AB Volvo, Hino Motors, Ltd., IVECO - a CNH Industrial Company, Paccar Inc, MAN SE, Scania AB, Ashok Leyland, Mahindra and Mahindra, Isuzu, Ford, Iveco, Kamaz, Kenworth, Freightliner etc. Apart from these companies, other truck manufacturers are also increasing their marketing activities and enriching their product portfolio in the region to increase their customer outreach.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study: 

  • To analyze the historical growth in the market size of global truck market, in terms of value and volume, from 2016 to 2020.
  • To estimate and forecast the market size of global truck market from 2021 to 2026 and growth rate until 2026.
  • To assess the demand-supply scenario of truck which covers production, demand, supply, and net inventory status of truck globally.
  • To analyze and forecast the market size of trucks in terms of value as well as volume.
  • To classify and forecast global truck based on by application, by truck tonnage capacity, by fuel type, by vehicle type, by company and by region.
  • To identify drivers and challenges for global truck market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global truck market.
  • To conduct the pricing analysis for truck market.
  • To identify and analyze the profile of leading players involved in the manufacturing of trucks.


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To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of truck manufacturers and dealers operating globally. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings, distribution channels, and regional presence of all major truck suppliers across the globe.

TechSci Research calculated the market size for global truck using a top-down technique, wherein manufacturers’ volume sales data for different applications, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such as National Association of Automobile Manufacturers of South Africa (NAAMSA), American Trucking Association, OICA, Company Websites, company annual reports, white papers, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

  • Technology investors, government and financial institutions
  • End users of trucks
  • Research organizations and consulting companies
  • Research Institutes
  • Associations, organizations, forums and alliances related to trucks.
  • Truck manufacturing companies
  • Industry associations
  • Market research and consulting firm

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as truck manufacturers, distributors and dealers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, global truck market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Global Truck Market, By Application Type:
    • Logistics
    • Construction
    • Mining
    • Others
  • Global Truck Market, By Truck Tonnage Capacity:
    • Class1
    • Class2
    • Class3
    • Class4
    • Class5
    • Class6
    • Class7
    • Class8
  • Global Truck Market, By Fuel Type:
    • Diesel
    • Petrol/Gasoline
    • CNG/LNG/LPG
    • Electric & Hybrid
  • Global Truck Market, By Vehicle Type:
    • Light Duty
    • Heavy Duty
    • Medium Duty
  • Global Truck Market, By Region:
    • North America

§  United States

§  Canada

§  Mexico

    • Asia Pacific

§  China

§  Japan

§  India 

§  Australia

§  Indonesia

    • Europe

§  France

§  Germany

§  United Kingdom

§  Italy

§  Spain

    • South America

§  Brazil

§  Argentina

§  Chile

§  Colombia

    • Middle East and Africa

§  South Africa

§  Saudi Arabia

§  Iran

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global truck market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:

Raw Material Analysis

  • Detailed list of different raw materials used in production of truck, list of existing suppliers of raw materials, pricing analysis of raw materials, analysis of difference between imported and domestically procured raw materials.

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Voice of Customer

4.1.  Factors Influencing Purchase Decision

4.2.  Brand Satisfaction Level

4.3.  Aided and Unaided Brand Recall

5.    Impact of COVID-19 on Global Truck Market

6.    Global Truck Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume      

6.2.  Market Share, & Forecast

6.2.1.     By Application Type (Logistics, Construction, Mining, Others)

6.2.2.     By Truck Tonnage Capacity (Class1, Class2, Class3 Class4, Class5, Class6, Class7, Class8)

6.2.3.     By Fuel Type (Diesel, Petrol/Gasoline, CNG/LNG/LPG, Electric & Hybrid)

6.2.4.     By Vehicle Type (Light Duty, Medium Duty, Heavy Duty)

6.2.5.     By Region

6.2.6.     By Company (2020)

6.3.  Product Market Map (By Application Type)

6.4.  Product Market Map (By Region)

7.    North America Truck Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume      

7.2.  Market Share, & Forecast

7.2.1.     By Application Type

7.2.2.     By Truck Tonnage Capacity

7.2.3.     By Fuel Type

7.2.4.     By Vehicle Type

7.2.5.     By Country

7.3.  Product Market Map (By Application Type)

7.4.  Product Market Map (By Country)

7.5.  North America: Country Analysis

7.5.1.     United States Truck Market Outlook

7.5.1.1.         Market Size & Forecast

7.5.1.1.1.             By Value & Volume

7.5.1.2.         Market Share, & Forecast

7.5.1.2.1.             By Application Type

7.5.1.2.2.             By Truck Tonnage Capacity

7.5.1.2.3.             By Fuel Type

7.5.1.2.4.             By Vehicle Type

7.5.2.     Canada Truck Market Outlook

7.5.2.1.         Market Size & Forecast

7.5.2.1.1.             By Value & Volume

7.5.2.2.         Market Share, & Forecast

7.5.2.2.1.             By Application Type

7.5.2.2.2.             By Truck Tonnage Capacity

7.5.2.2.3.             By Fuel Type

7.5.2.2.4.             By Vehicle Type

7.5.3.     Mexico Truck Market Outlook

7.5.3.1.         Market Size & Forecast

7.5.3.1.1.             By Value & Volume

7.5.3.2.         Market Share, & Forecast

7.5.3.2.1.             By Application Type

7.5.3.2.2.             By Truck Tonnage Capacity

7.5.3.2.3.             By Fuel Type

7.5.3.2.4.             By Vehicle Type

8.    Asia Pacific Truck Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume      

8.2.  Market Share, & Forecast

8.2.1.     By Application Type

8.2.2.     By Truck Tonnage Capacity

8.2.3.     By Fuel Type

8.2.4.     By Vehicle Type

8.2.5.     By Country

8.3.  Product Market Map (By Application Type)

8.4.  Product Market Map (By Country)

8.5.  Asia Pacific: Country Analysis

8.5.1.      China Truck Market Outlook

8.5.1.1.         Market Size & Forecast

8.5.1.1.1.             By Value & Volume

8.5.1.2.         Market Share, & Forecast

8.5.1.2.1.             By Application Type

8.5.1.2.2.             By Truck Tonnage Capacity

8.5.1.2.3.             By Fuel Type

8.5.1.2.4.             By Vehicle Type

8.5.2.     Japan Truck Market Outlook

8.5.2.1.         Market Size & Forecast

8.5.2.1.1.             By Value & Volume

8.5.2.2.         Market Share, & Forecast

8.5.2.2.1.             By Application Type

8.5.2.2.2.             By Truck Tonnage Capacity

8.5.2.2.3.             By Fuel Type

8.5.2.2.4.             By Vehicle Type

8.5.3.     India Truck Market Outlook

8.5.3.1.         Market Size & Forecast

8.5.3.1.1.             By Value & Volume

8.5.3.2.         Market Share, & Forecast

8.5.3.2.1.             By Application Type

8.5.3.2.2.             By Truck Tonnage Capacity

8.5.3.2.3.             By Fuel Type

8.5.3.2.4.             By Vehicle Type

8.5.4.     Australia Truck Market Outlook

8.5.4.1.         Market Size & Forecast

8.5.4.1.1.             By Value & Volume

8.5.4.2.         Market Share, & Forecast

8.5.4.2.1.             By Application Type

8.5.4.2.2.             By Truck Tonnage Capacity

8.5.4.2.3.             By Fuel Type

8.5.4.2.4.             By Vehicle Type

8.5.5.     Indonesia Truck Market Outlook

8.5.5.1.         Market Size & Forecast

8.5.5.1.1.             By Value & Volume

8.5.5.2.         Market Share, & Forecast

8.5.5.2.1.             By Application Type

8.5.5.2.2.             By Truck Tonnage Capacity

8.5.5.2.3.             By Fuel Type

8.5.5.2.4.             By Vehicle Type

9.    Europe Truck Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume      

9.2.  Market Share, & Forecast

9.2.1.     By Application Type

9.2.2.     By Truck Tonnage Capacity

9.2.3.     By Fuel Type

9.2.4.     By Vehicle Type

9.2.5.     By Country

9.3.  Product Market Map (By Application Type)

9.4.  Product Market Map (By Country)

9.5.  Europe: Country Analysis

9.5.1.     France Truck Market Outlook

9.5.1.1.         Market Size & Forecast

9.5.1.1.1.             By Value & Volume

9.5.1.2.         Market Share, & Forecast

9.5.1.2.1.             By Application Type

9.5.1.2.2.             By Truck Tonnage Capacity

9.5.1.2.3.             By Fuel Type

9.5.1.2.4.             By Vehicle Type

9.5.2.     Germany Truck Market Outlook

9.5.2.1.         Market Size & Forecast

9.5.2.1.1.             By Value & Volume

9.5.2.2.         Market Share, & Forecast

9.5.2.2.1.             By Application Type

9.5.2.2.2.             By Truck Tonnage Capacity

9.5.2.2.3.             By Fuel Type

9.5.2.2.4.             By Vehicle Type

9.5.3.     United Kingdom Truck Market Outlook

9.5.3.1.         Market Size & Forecast

9.5.3.1.1.             By Value & Volume

9.5.3.2.         Market Share, & Forecast

9.5.3.2.1.             By Application Type

9.5.3.2.2.             By Truck Tonnage Capacity

9.5.3.2.3.             By Fuel Type

9.5.3.2.4.             By Vehicle Type

9.5.4.     Italy Truck Market Outlook

9.5.4.1.         Market Size & Forecast

9.5.4.1.1.             By Value & Volume

9.5.4.2.         Market Share, & Forecast

9.5.4.2.1.             By Application Type

9.5.4.2.2.             By Truck Tonnage Capacity

9.5.4.2.3.             By Fuel Type

9.5.4.2.4.             By Vehicle Type

9.5.5.     Spain Truck Market Outlook

9.5.5.1.         Market Size & Forecast

9.5.5.1.1.             By Value & Volume

9.5.5.2.         Market Share, & Forecast

9.5.5.2.1.             By Application Type

9.5.5.2.2.             By Truck Tonnage Capacity

9.5.5.2.3.             By Fuel Type

9.5.5.2.4.             By Vehicle Type

10.  South America Truck Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume      

10.2.              Market Share, & Forecast

10.2.1.  By Application Type

10.2.2.  By Truck Tonnage Capacity

10.2.3.  By Fuel Type

10.2.4.  By Vehicle Type

10.2.5.  By Country

10.3.              Product Market Map (By Application Type)

10.4.              Product Market Map (By Country)

10.5.              South America: Country Analysis

10.5.1.  Brazil Truck Market Outlook

10.5.1.1.      Market Size & Forecast

10.5.1.1.1.           By Value & Volume

10.5.1.2.      Market Share, & Forecast

10.5.1.2.1.           By Application Type

10.5.1.2.2.           By Truck Tonnage Capacity

10.5.1.2.3.           By Fuel Type

10.5.1.2.4.           By Vehicle Type

10.5.2.  Argentina Truck Market Outlook

10.5.2.1.      Market Size & Forecast

10.5.2.1.1.           By Value & Volume

10.5.2.2.      Market Share, & Forecast

10.5.2.2.1.           By Application Type

10.5.2.2.2.           By Truck Tonnage Capacity

10.5.2.2.3.           By Fuel Type

10.5.2.2.4.           By Vehicle Type

10.5.3.  Chile Truck Market Outlook

10.5.3.1.      Market Size & Forecast

10.5.3.1.1.           By Value & Volume

10.5.3.2.      Market Share, & Forecast

10.5.3.2.1.           By Application Type

10.5.3.2.2.           By Truck Tonnage Capacity

10.5.3.2.3.           By Fuel Type

10.5.3.2.4.           By Vehicle Type

10.5.4.  Colombia Truck Market Outlook

10.5.4.1.      Market Size & Forecast

10.5.4.1.1.           By Value & Volume

10.5.4.2.      Market Share, & Forecast

10.5.4.2.1.           By Application Type

10.5.4.2.2.           By Truck Tonnage Capacity

10.5.4.2.3.           By Fuel Type

10.5.4.2.4.           By Vehicle Type

11.  Middle East and Africa Truck Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value & Volume      

11.2.              Market Share, & Forecast

11.2.1.  By Application Type

11.2.2.  By Truck Tonnage Capacity

11.2.3.  By Fuel Type

11.2.4.  By Vehicle Type

11.2.5.  By Country

11.3.              Product Market Map (By Application Type)

11.4.              Product Market Map (By Country)

11.5.              Middle East and Africa: Country Analysis

11.5.1.  South Africa Truck Market Outlook

11.5.1.1.      Market Size & Forecast

11.5.1.1.1.           By Value & Volume

11.5.1.2.      Market Share, & Forecast

11.5.1.2.1.           By Application Type

11.5.1.2.2.           By Truck Tonnage Capacity

11.5.1.2.3.           By Fuel Type

11.5.1.2.4.           By Vehicle Type

11.5.2.  Saudi Arabia Truck Market Outlook

11.5.2.1.      Market Size & Forecast

11.5.2.1.1.           By Value & Volume

11.5.2.2.      Market Share, & Forecast

11.5.2.2.1.           By Application Type

11.5.2.2.2.           By Truck Tonnage Capacity

11.5.2.2.3.           By Fuel Type

11.5.2.2.4.           By Vehicle Type

11.5.3.  UAE Truck Market Outlook

11.5.3.1.      Market Size & Forecast

11.5.3.1.1.           By Value & Volume

11.5.3.2.      Market Share, & Forecast

11.5.3.2.1.           By Application Type

11.5.3.2.2.           By Truck Tonnage Capacity

11.5.3.2.3.           By Fuel Type

11.5.3.2.4.           By Vehicle Type

11.5.4.  Iran Truck Market Outlook

11.5.4.1.      Market Size & Forecast

11.5.4.1.1.           By Value & Volume

11.5.4.2.      Market Share, & Forecast

11.5.4.2.1.           By Application Type

11.5.4.2.2.           By Truck Tonnage Capacity

11.5.4.2.3.           By Fuel Type

11.5.4.2.4.           By Vehicle Type

12.  Market Dynamics

12.1. Drivers

12.2. Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.            Daimler AG.

14.2.            Tata motors limited

14.3.