Medium and Heavy Trucks Market Outlook Key Trends, Growth Drivers, and Top Companies Shaping the Future

By /

The medium and heavy trucks market is on a solid growth trajectory, expected to expand from USD 433.01 billion in 2025 to USD 677.52 billion by 2034. This growth translates to a compound annual growth rate (CAGR) of 5.1% from 2025 to 2034. This market’s expansion is being driven by several factors, including the rise of e-commerce, increasing government initiatives focused on road infrastructure development, and the growing investment by automotive brands in technology and innovation, especially in the electric vehicle (EV) sector. Furthermore, the integration of Artificial Intelligence (AI) and Internet of Things (IoT) technologies in heavy-duty trucks promises to enhance efficiency and route optimization, creating ample growth opportunities for market players.

Market Segmentation and Trends

The medium and heavy trucks market is segmented by various factors such as tonnage, fuel type, class, application, and geography. Let’s delve into the key market insights:

Tonnage Type Insights

The 10 to 15 tons segment leads the market in 2025. The use of medium-duty trucks in sectors like logistics and construction, as well as the rapid adoption of electric trucks in FMCG and e-commerce sectors, is expected to further boost this segment’s growth.

The more than 15 tons segment is forecasted to grow at a significant CAGR due to the rising demand for heavy-duty trucks in the mining sector. Additionally, the expansion of production facilities by market players will contribute to this growth.

Download a Sample of Our Market Intelligence: https://www.towardsautomotive.com/download-sample/1436

Class Insights

The Class 6 segment currently holds the largest share in the medium and heavy trucks market, driven by their widespread use in mining and construction sectors. These trucks are also increasingly adopted for last-mile delivery services.

The Class 4 segment is expected to grow significantly due to the rising demand for trucks in the e-commerce sector, driven by the growth of small and medium enterprises (SMEs) and the adoption of advanced technology in operations.

Fuel Type Insights

The diesel segment has dominated the market, with high demand from industries like mining. Diesel trucks offer advantages like high torque, excellent fuel efficiency, and low maintenance costs.

However, the electric segment is poised for rapid growth in the coming years, with advancements in EV technology, government initiatives to expand EV charging infrastructure, and the growing adoption of electric trucks for logistics and construction.

Application Insights

The construction sector currently holds the largest share in the market, driven by the growing number of residential and commercial constructions globally. Government investments in infrastructure development also contribute significantly to this sector’s growth.

The logistics segment is expected to experience the highest growth during the forecast period, fueled by advancements in logistics infrastructure, the rise of e-commerce, and the shift toward electric trucks for reduced emissions.

Geographical Insights

North America leads the medium and heavy trucks market, driven by the demand for trucks in residential construction in the U.S. and Canada, and government initiatives aimed at infrastructure development. The market is further bolstered by major players such as Paccar, Kenworth, and Peterbilt Motors.

Asia-Pacific is expected to experience the highest growth rate due to the rising demand for heavy-duty trucks from the mining sectors in countries like India, China, and Japan, and the growing logistics sector.

Key Players in the Medium and Heavy Trucks Market

The medium and heavy trucks market is highly competitive, with several global players making strategic investments in production facilities and technology. Here’s a closer look at some of the top companies shaping the market:

Invest in Our Premium Strategic Solution: https://www.towardsautomotive.com/price/1436

1. Tata Motors Limited

  • About: Tata Motors is one of the largest automobile manufacturers in India, offering a wide range of commercial and passenger vehicles.

  • Products: Tata Motors offers a variety of medium and heavy trucks, including the Tata LPT series and the Tata 1618, designed for various industries such as logistics and construction.

  • Market Cap: Approximately USD 16 billion.

2. Mitsubishi Fuso

  • About: Mitsubishi Fuso is a part of Daimler AG and is known for producing heavy-duty and medium-duty trucks.

  • Products: Their product portfolio includes trucks like the Mitsubishi Fuso Canter and the Fuso Super Great, which are used in various commercial applications.

  • Market Cap: Part of Daimler AG, which has a market cap of approximately USD 90 billion.

3. DAF Trucks

  • About: DAF Trucks is a Dutch company manufacturing heavy-duty trucks and is part of the PACCAR Inc.

  • Products: DAF produces a range of heavy-duty trucks, including the XF, CF, and LF series, which cater to the freight, construction, and logistics sectors.

  • Market Cap: PACCAR Inc., which owns DAF, has a market cap of approximately USD 31 billion.

4. Renault Trucks

  • About: Renault Trucks, a part of the Volvo Group, specializes in the production of medium and heavy-duty trucks for various industries, including transportation and logistics.

  • Products: The Renault Trucks range includes the Renault Trucks T, C, and K series, known for their durability and efficiency in long-distance and construction applications.

  • Market Cap: Part of Volvo Group, which has a market cap of approximately USD 44 billion.

5. Paccar, Inc.

  • About: Paccar is an American multinational that designs and manufactures medium- and heavy-duty trucks through brands like Kenworth, Peterbilt, and DAF.

  • Products: Paccar’s products include the Peterbilt 579 and the Kenworth T680, both of which are widely used in freight and logistics sectors.

  • Market Cap: Approximately USD 31 billion.

6. Daimler

  • About: Daimler is a global leader in the automotive industry and the parent company of Mercedes-Benz.

  • Products: Daimler manufactures a range of medium- and heavy-duty trucks under the Mercedes-Benz, Freightliner, and Fuso brands.

  • Market Cap: Approximately USD 90 billion.

7. Volvo Group

  • About: Volvo Group is a leading Swedish multinational company in the manufacturing of heavy-duty trucks and construction equipment.

  • Products: Volvo’s trucks include the Volvo FH and FMX series, known for their performance and fuel efficiency.

  • Market Cap: Approximately USD 44 billion.

8. MAN SE

  • About: MAN SE, part of the Volkswagen Group, manufactures trucks and buses.

  • Products: MAN’s range includes the MAN TGX, TGS, and TGM series, which are widely used in logistics, construction, and mining.

  • Market Cap: Part of Volkswagen Group, which has a market cap of approximately USD 100 billion.

9. Ashok Leyland

  • About: Ashok Leyland is an Indian multinational that manufactures a wide range of commercial vehicles, including medium and heavy-duty trucks.

  • Products: Ashok Leyland’s products include the U-3118 and the AVTR series, designed for construction, logistics, and freight applications.

  • Market Cap: Approximately USD 8 billion.

Recent Developments in the Market

  • In July 2025, Eicher Trucks and Buses launched the Eicher Pro Plus Range of Light and Medium Duty Trucks, focusing on sustainability and performance.

  • In April 2025, IKEA unveiled an electric heavy-duty truck for the mining sector in India, emphasizing eco-friendly transportation solutions.

  • Harbinger launched a plug-in hybrid medium-duty truck in April 2025, offering superior driving range with Panasonic batteries.

FAQs

  1. What is driving the growth of the medium and heavy trucks market?

    • The growth is driven by the rise of e-commerce, government infrastructure initiatives, and the increasing investment in electric and technologically advanced trucks.

  2. Which segment leads the medium and heavy trucks market in 2025?

    • The 10 to 15 tons segment leads the market due to its extensive use in logistics and construction.

  3. What fuel type dominates the medium and heavy trucks market?

    • Diesel currently dominates the market, but electric trucks are growing rapidly due to government support and environmental concerns.

  4. Which region is expected to experience the highest growth?

    • Asia-Pacific is expected to experience the highest CAGR, driven by growing demand in the mining and logistics sectors.

  5. Which companies are leading the medium and heavy trucks market?

    • Leading companies include Tata Motors, Mitsubishi Fuso, DAF Trucks, Renault Trucks, and Paccar Inc., among others.

Source : https://www.towardsautomotive.com/insights/medium-and-heavy-trucks-market-sizing

Access our exclusive, data-rich dashboard dedicated to the respective market built specifically for decision-makers, strategists, and industry leaders. The dashboard features comprehensive statistical data, segment-wise market breakdowns, regional performance shares, detailed company profiles, annual updates, and much more. From market sizing to competitive intelligence, this powerful tool is one-stop solution to your gateway.

Access Now: https://www.towardsautomotive.com/contact-us

Become a Valued Research Partner with Us – Schedule a meeting: https://www.towardsautomotive.com/schedule-meeting

Request a Custom Case Study Built Around Your Goals: sales@towardsautomotive.com

About Us

Towards Automotive is a leading research and consulting firm specializing in the global automotive industry. We deliver actionable insights across key segments such as electric vehicles (EVs), autonomous driving, connected cars, automotive software, aftermarket services, and more. Our expert team supports both global enterprises and start-ups with tailored research on market trends, technology, and consumer behavior. With a focus on accuracy and innovation, we empower clients to make informed decisions and stay competitive in a rapidly evolving landscape.

Stay Connected with Towards Automotive:

Get ahead of the trends – follow us for exclusive insights and industry updates:

Tumbler | Bloglovin | Medium | Hashnode | Pinterest

Scroll to Top