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Class 5 Trucks Market Share

Report ID: GMI9172
Published Date: Apr 2024
Report Format: PDF

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Class 5 Trucks Market Share

Daimler AG, Hino Motors, and Kenworth dominate class 5 trucks industry holding market share over 23%. Daimler AG, a leading global manufacturer, dominates market with its diverse portfolio of brands, including Freightliner and Mercedes-Benz. These brands offer a wide range of class 5 trucks tailored to various applications, from urban delivery to vocational use, meeting the needs of different industries.

Kenworth and Hino, subsidiaries of PACCAR Inc. and Toyota Group, respectively, are known for their reliability, durability, and innovative features, Kenworth and Hino trucks are preferred choices for businesses in construction, utilities, and logistics. With their established reputations, extensive dealer networks, and ongoing investments in research and development, Daimler AG, Kenworth, and Hino continue to dominate and drive innovation in the market.

Class 5 Trucks Market Companies

Major companies operating in the class 5 trucks industry are:

Daimler AG
Doosan
Fiat Chrysler Automobiles
Ford
Hino
Kenworth
Navistar, Inc.
PACCAR
Stellantis
Toyota
Volvo Group

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of class 5 trucks reached USD 21.4 billion in 2023 and is set to witness 5.5% CAGR between 2024 and 2032, led by increasing environmental concerns and advancements in battery technology.

The diesel segment accounted over 83% market share, due to its high energy density and cost-effectiveness for heavy-duty applications.

Asia Pacific market generated 47% share in 2023, owing to urbanization, infrastructure development, and expanding logistics networks.

Daimler AG, Doosan, Fiat Chrysler Automobiles, Ford, Hino, Kenworth, Navistar, Inc., PACCAR, Stellantis, Toyota and Volvo Group.