Class 8 Trucks Market To Reach $430.5 Billion by 2033

The report “Class 8 Trucks Market By Fuel Type (Diesel-powered Trucks, Electric Trucks, Alternative Fuel Trucks (CNG, LNG)), By Application (Freight and Logistics, Construction, Waste Management, Mining)” is expected to reach USD 430.5 billion by 2033, registering a CAGR of 5.80% from 2026 to 2033, according to a new report by Transpire Insight.

The class 8 trucks industry is evolving at the pace of technological change. Autonomous technologies, telematics, and other technologies enabling increased productivity and effectiveness in trucks have made class 8 trucks much more efficient and effective. To ensure better fleet management and reduce costs, fleet managers are investing in new trucks that are coming up with advanced technologies. Technological innovations are pushing the industry to adopt new trucks, and at the same time, these innovations are also fueling innovations in the industry. Integration of autonomous driving technology and AI is the next game-changer that is currently underway in the Class 8 truck sector. Self-driving trucks are expected to combat driver fatigue and make long-haul trucking safer and more fuel-efficient. Companies such as Waymo, which is an offshoot of Alphabet Inc., and Aurora Innovation are currently researching and developing fully automated trucks.

The Diesel-powered Trucks segment is projected to witness the highest CAGR in the Class 8 Trucks Market during the forecast period.

The main fuel used within the Class 8 market, which holds an 85% share of overall sales in 2024. Diesel-powered vehicles have maintained their popularity because of their ruggedness, endurance, and economy, which beats other available options.

The Freight and Logistics segment is projected to witness the highest CAGR in the Class 8 Trucks Market during the forecast period.

It is the largest segment of the global Class 8 trucks industry as it caters to large trucks that are used as the backbone of the long-haul transport of goods. With international business, e-commerce, and supply chain growth, there is a need to transport large loads of products over a long distance, which requires products like Class 8 trucks that can transport large payloads.

The North America region is projected to witness the highest CAGR in the Class 8 Trucks Market during the forecast period.

About 50% of the medium duty trucks (MHCV) and heavy-duty trucks in the US are classified as the Class 8 trucks, which are the most popular segment of commercial trucks in North America today. Some popular models available in the US are the Freightliner Cascadia, the top-selling long-distance heavy-duty truck in North America in terms of the total production volume, International LT, Peterbilt 589 (Manufactures by PACCAR), and the Mack Anthem.

Demand remains strong in the domestic market for Class 8 Trucks. The expected expansion in the Class 8 Truck Market for the year 2024 may get impacted by Supply Chain Challenges, which will restrict Production Scheduling, and additionally, create various hurdles in Long-Haul Transport Operations.

Key Players

The top 15 players in the Positron Emission Tomography Market include Daimler, Freightliner, International Motors, Isuzu Motors, Kenworth, Mack Trucks, MAN, Peterbilt, Scania, Volvo Trucks, Bell Trucks America, John Deere, Hitachi.

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