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Class 7 Truck Market Share

Report ID: GMI9029
Published Date: Apr 2024
Report Format: PDF

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Class 7 Truck Market Share

Volvo and Traton held significant market share of over 20% market share in 2023. These companies are enhancing their positions in the truck manufacturing sector with a multi-faceted strategy. Strategic acquisitions of innovative firms specializing in electric and autonomous vehicle technologies quickly broaden their product portfolios. Integrating these advanced capabilities enables them to cater to a wider range of transportation and logistics needs, attracting a diverse customer base. Moreover, substantial investments in research and development bolster their leadership in sustainable and efficient truck solutions, aligning with global environmental standards.

Collaborative ventures with logistics companies and technology providers facilitate the seamless integration of their trucks into modern fleet operations, increasing operational efficiency. Furthermore, their commitment to reducing carbon emissions and improving fuel efficiency meets current market demands and adheres to rigorous environmental regulations, enhancing their market appeal. This comprehensive approach solidifies their market presence significantly, positioning Volvo and Traton as leaders in the dynamically changing truck industry.

Class 7 Truck Market Companies

Major players operating in the market are:

Ford
Freightliner
Navistar
Isuzu Motors
Kenworth
Mack Trucks
MAN
Peterbilt
Scania AB
Volvo Trucks

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Industry size for class 7 truck recorded USD 49.7 billion in 2023 and is expected to depict over 4% CAGR from 2024 to 2032, owing to the rise of urban logistics and infrastructure investments.

The diesel fuel segment in the class 7 truck industry accumulated over 80% share in 2023 and is estimated to depict substantial growth between 2024 and 2032, due to its unmatched power and efficiency.

Asia Pacific industry accounted for over 70% revenue share in 2023 and is expected to witness notable growth from 2024 to 2032, due to the rise in infrastructure projects and growing need for long-haul transport.

Ford, Freightliner, Navistar, Isuzu Motors, Kenworth, Mack Trucks, MAN, Peterbilt, Scania AB, and Volvo Trucks are some of the major class 7 truck companies worldwide.