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Class 3 Truck Market Share

Report ID: GMI9168
Published Date: Apr 2024
Report Format: PDF

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Class 3 Truck Market Share

Ford Motor, Toyota Motor, and General Motors dominate the market with around 15% market share. Companies are witnessing increasing demand in the Class 3 truck industry due to their targeted efforts. With businesses expanding and modernizing their fleets, Ford motor is emphasizing the versatility and efficiency of Class 3 trucks. These vehicles offer the perfect balance between size and capability, making them suitable for various applications.

Major players are also focusing on introducing innovative features such as advanced safety systems and alternative fuel options to meet evolving customer needs. As a result, the demand for Class 3 trucks is steadily rising due to these tailored company efforts.

Class 3 Truck Market Companies

Major companies operating in the class 3 truck industry are:

Daimler AG
Ford Motor
General Motors
International Trucks
Isuzu Motors Limited
Nissan Motor
Stellantis
Toyota Motor
Volvo Group

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of class 3 truck reached USD 7 trillion in 2023 and will grow at over 7.5% CAGR between 2024 and 2032, owing to their versatility and functionality.

Commercial segment will capture 64% market share by 2032, as class 3 trucks are equipped with powerful engines capable of handling heavy loads, making them ideal for demanding tasks.

Asia Pacific class 3 truck industry held a major share of around 68% in 2023, driven by an increasing need for reliable transportation solutions.

Daimler AG, Ford Motor, General Motors , International Trucks , Isuzu Motors Limited, Nissan Motor, Stellantis , Toyota Motor, Volvo Group among others.