Truck Market to be Valued at USD 1.16 Trillion by 2030 Growing at 3.22% CAGR, Reports Mordor Intelligence
HYDERABAD, India, Jan. 8, 2026 /PRNewswire/ -- According to Mordor Intelligence, the truck market is projected to grow from USD 0.96 trillion in 2025 to USD 1.16 trillion by 2030, expanding at a CAGR of 3.22% over the forecast period (2025 – 2030). Growth is being supported by fleet operators increasingly using digital routing tools, connected vehicle analytics, and efficiency-focused fleet management systems to improve utilization. Adoption of alternative powertrains is accelerating, particularly in China and the EU, where battery cost parity with diesel is improving the economics of electric trucks. At the same time, investments in autonomous-ready platforms and zero-emission freight infrastructure, including high-capacity charging corridors, are shaping long-term market development despite ongoing challenges such as driver shortages and cost pressures.
Key Drivers Influencing Market Trends
Expanding E-Commerce Logistics Pushes Fleet Replacement Cycles
Rising expectations for same-day delivery are reshaping how trucks are designed and deployed. Fleet operators are favoring urban-friendly vehicles with easier cab access, better visibility, and built-in telematics that support safer and more efficient driving. Large e-commerce players and regional retailers alike are refreshing fleets more frequently while fast-tracking the move to electric drivetrains, which perform well in stop-and-go operations and help lower operating costs. At the same time, advanced connectivity is becoming essential, allowing fleets to monitor vehicles in real time, optimize routes, and reduce downtime while also supporting broader sustainability goals.
Government Infrastructure Megaprojects
Major initiatives such as the U.S. Infrastructure Investment and Jobs Act, India's Gati Shakti plan, and ASEAN road corridor projects are driving sustained demand for concrete mixers, tippers, and low-bed trailers. These programs strengthen connectivity and transportation networks while procurement rules focused on emissions and local sourcing encourage domestic assembly of alternative-fuel trucks, supporting sustainability and local manufacturing.
Regional Market Overview
- The Asia–Pacific region continues to play a leading role in the global truck market, supported by strong freight demand from China and expanding infrastructure activity in India.
- Urban fleets in China are increasingly shifting toward electric trucks, helped by local policy support and well-developed charging networks. Meanwhile, large-scale road and freight corridor projects in India are stimulating demand across both light commercial vehicles and heavy-duty trucks
- Japan and South Korea are taking a more technology-led approach, focusing on autonomous driving and hydrogen-powered platforms that keep regional manufacturers at the forefront of innovation.
Segmentation Insights
By Vehicle Type
- Light-Duty Trucks
- Medium-Duty Trucks
- Heavy-Duty Trucks
By Tonnage Capacity
- 3.5 to 7.5 Tons
- 7.5 to 16 Tons
- 16 to 30 Tons
- Above 30 Tons
By Fuel Type
- Diesel
- Petrol
- CNG / LNG
- Electric
By Application
- Logistics and Transportation
- Construction
- Agriculture
- Mining
- Utility Services
- Other Applications
By Ownership Type
- Fleet Operators
- Individual Owners
By Body Type
- Flatbed Trucks
- Box Trucks
- Refrigerated Trucks
- Tankers
- Tippers
Companies Profiled in Truck Market
- Daimler Truck AG
- Volvo Group
- Traton SE
- Paccar Inc.
- Dongfeng Motor Corporation
- CNH Industrial (Iveco Group)
- Tata Motors Limited
- Isuzu Motors Limited
- Hino Motors Limited
- FAW Jiefang Group
- Sinotruk (CNHTC)
- Hyundai Motor Company
- Navistar (International)
- Foton Motor
- Ashok Leyland
- Scania AB
- Kamaz PJSC
- Mahindra & Mahindra
- BYD Auto
- Nikola Corporation
Industry Related Reports
Used Truck Market: The global used truck market growth is driven by rising demand for cost-effective fleet management, expansion of e-commerce and logistics networks, digital sales channels such as online auctions, accelerated fleet replacement due to stricter emissions regulations, and the gradual entry of hybrid and electric trucks into the secondary market.
Get More insights: https://www.mordorintelligence.com/industry-reports/used-truck-market?utm_source=prnewswire
Electric Vehicles Market: The electric vehicles market growth is driven by supportive government policies and incentives, rising consumer demand for low‑emission transport, declining battery and production costs, expansion of charging infrastructure, and OEM shifts toward electrified portfolios.
Get More insights: https://www.mordorintelligence.com/industry-reports/electric-vehicle-market?utm_source=prnewswire
Power Sports Market: The global powersports market growth is driven by increasing participation in outdoor recreation and adventure tourism, manufacturers' pivot toward connected and electric platforms, rising demand for utility‑task vehicles and premium motorcycles, expansion of rental/subscription sales channels, and electrification of powersports vehicles.
Get More insights: https://www.mordorintelligence.com/industry-reports/powersports-market?utm_source=prnewswire
About Mordor Intelligence:
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SOURCE Mordor Intelligence Private Limited
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