Class 8 Truck Market Size, By Fuel, By Application, By Horsepower, By Axle, By Ownership, By Cab, Forecast 2025 – 2034

Class 8 Truck Market Size

The class 8 truck market was valued at USD 265.9 billion in 2024 and is estimated to register a CAGR of 4.5% between 2025 & 2034.
 

The market growth is driven by the rising initiatives and collaborations between regions aimed at expanding the reach of class 8 trucks. The growth of international trade has heightened the demand for the movement of goods across borders, with springing up of new businesses globally. A prime example is the joint announcement made by Bali Express and San Diego Gas and Electric, in April of 2024, declaring their recent achievement of a heavy class 8 electric freight truck successfully traveling from the US to Mexico. It was the first time a semi-truck crossed into Mexico, which is a watershed in the history of this bi-national region on the road to net zero.
 

International trade liberalization and new infrastructure development projects have increased the crossing of class 8 trucks through borders, accelerating the need to fulfill the demand for cross-border transportation of goods. The increased collaboration between regions has resulted in increased interoperability and standardization of transport networks, which further drives cross-regional trade leading to increased demand for investment on class 8 trucks. This increase in demand for cross-class 8 trucks enables not only the growth of the economy of numerous regions, but also faster development and improvement of the globalization system.
 

The market for class 8 trucks is changing as fast as technology itself. Autonomous systems, telematics, and other efficiency boosting technologies increased the productivity, safety, and overall effectiveness of class 8 trucks. To enhance fleet management, protect drivers, and lower costs, fleet managers are buying new vehicles which come with sophisticated features. Innovation in technology is both forcing the industry to seek out new model trucks, while simultaneously stimulating innovation and development in the industry.
 

Class 8 Truck Market Trends

• The application of artificial intelligence and machine learning technologies into class 8 trucks has improved safety, efficiency, and cost effectiveness. Some self-driving vehicles from Tesla, Daimler, and Volvo of Sweden already cruise and steer to assist the driver.
   
• These systems integrate machine learning algorithms with LiDAR, radar, and camera systems to enable real-time decision making which brings the industry a step closer to Level 4 autonomous driving. Additionally, AI is changing predictive maintenance by leveraging real-time sensors data without discrimination to proactively prevent breakdowns and unnecessary maintenance work.
   
• The class 8 truck market is experiencing progressive movement due to the product modification and introductory activities of a few dominant players in the industry. Companies now focus more on innovation and personalization to keep up with changing consumer and legal requirements. The incorporation of self-driving vehicles, telematics, and more efficient fuel consumption is being presented as a basic feature.
   
• Moreover, the advent of electric and other alternative fuel class 8 trucks is gradually transforming the conventional outlook of the industry because of the growing emphasis on ecological factors.
   
• These pursuits are an attempt to both modernize goods transportation and boost the effectiveness and safety of class 8 trucks. It is expected that the market will grow further with increased spending on modeling engineering technology by the existing industry leaders.
   
• In April 2024, Volvo Trucks North America started ordering the new flagship model for class 8 VNL tractor, aiming for mass production to begin during the summer of 2024, customer deliveries will occur later that year.
   

Class 8 Truck Market Analysis

Based on fuel, the market is divided into diesel, natural gas, hybrid electric and others. In 2024, the diesel segment held a market share of over 75%.
 

• The primary purpose of diesel trucks, which provide substantial strength, dependability, and long-haul distance, is heavy-duty freight transport. These trucks are essential for other demanding industries like construction and are particularly important for long-haul freight trucking.
   
• In January 2025, ReVolt introduced a new hybrid powertrain retrofit design for class 8 trucks that is less expensive than buying new battery electric vehicles. The series hybrid system includes a CATL 210 kWh battery alongside an onboard Scania diesel engine, which serves as a generator to charge the battery when in use. It enables 670 horsepower with 3,500 lb-ft of torque, supports 130,000 lbs gross vehicle weight rating, and has a combined range of 1200 miles.
   
• Furthermore, diesel fuel’s continued dominance is aided by the extensive infrastructure that supports diesel refueling stations. Even though the industry is experiencing a slower move towards cleaner alternatives, the relentless demand for diesel trucks shows how essential these vehicles are in meeting the diverse transportation needs of businesses across the globe.
   

Based on the cab, the class 8 truck market is categorized into day cab, and sleeper cab. The sleeper cab segment held a market share of over 72% in 2024.
 

• Sleeper cabs allow drivers to rest comfortably while on long trips, letting them comply with rest regulations as they work. Companies appreciate sleeper cabs because they greatly increase driver satisfaction and make it easier to retain drivers.
   
• Escalent's Commercial Vehicle Competitive Landscape Q3 2024 Build Plan stated that 70% of Class 8 units manufactured in North America are tractors (semis) and a reasonable portion of them are sleeper cabs for long-haul usage. These vehicles are equipped with advanced driver assistance systems (ADAS) such as Autonomous Emergency Braking, Blind Spot Detection, Lane Departure Warning, and Adaptive Cruise Control, all of which fall under automated safety features. 
   
• In addition, the globalization factor and the necessity to transport goods over long distances have made sleeper cabs very essential in meeting logistical deadlines which has caused continuous innovation in the market.
   

In 2024, the China dominate the APAC class 8 sector with revenue around USD 144 million.
 

• The transformation of industries and cities in places such as China and India is increasing the necessity for efficient transportation systems to facilitate the movement of products. Also, the growing e-commerce and logistics industries are resulting in a higher need for freight trucks. The increase in infrastructure spending alongside economic development provides supplementary reasons for the increased purchase of Class 8 trucks. The emerging economic strength of the region is likely to keep the need for Class 8 trucks in the Asia-Pacific region high for a long time.
   
• China’s China powered with other developing nations lies in the heart of global logistics and freight and is set to be the largest player driven by the shift in China’s industrials growth and huge e-commerce market. The Statista report also concluded put forth the fact of the government heavily investing and brought in regulations that promote growth that reached around USD 24 billion dollars during the year 2021. The value of the entire China’s logistics industry also reported a staggering 90% increase to around USD 48.2 trillion in 2023.
   
• Prominent Chinese brands, such as, FAW, Dongfeng, Sinotruk and BYD, dominate the local market with affordable diesel and new energy heavy duty trucks. China has an efficient supply chain to cater to raw materials, components, and truck assembly in a cost-effective manner. Moreover, the government’s backing for the construction of infrastructure like highways and logistics centers increases the need for heavy duty trucks.
   

Predictions suggest that from 2025-2034, the U.S. class 8 market will grow tremendously.
 

• The class 8 truck market continues to grow due to the expansion of e-commerce, modernization of fleets, and infrastructural expenditure in the US. Large carriers and owner-operators are replacing older diesel trucks with newly manufactured energy efficient ones to avail the rigorous emission reduction policies and operational cost benefits. Daimler Trucks North America, Volvo Trucks, and PACCAR are the market leaders and as such offer advanced diesel and alternative fuels.
   
• Collaboration between PACCAR and Dana on the electrification of commercial vehicles commenced in May 2023. PACCAR has released the Kenworth T680E and Peterbilt Model 579EV which are both Class 8 battery-powered electric trucks for regional haul and drayage service. These trucks incorporate Dana’s electric drive system which comprise electric motors, inverters, and control software intended to provide dependable and efficient service. The intention of this collaboration is to address the changing needs of the transportation market by providing zero emission options.
   
• Fleet operators are looking to capitalize on the freight boom therefore their backlogs are massive despite supply chain issues and component-shortages influencing production. Also, automating features such as ADAS emergency braking, lane keeping, and collision mitigation, are revolutionizing the industry by increasing the safety and efficiency of operations.
   

Predictions suggest that from 2025-2034, the Germany class 8 market will grow tremendously.
 

• An active industrial sector, strict environmental policy, and the shift towards digitalization and automation drives Germany’s class 8 truck market. With the country’s tough Euro 6 emission standards, manufacturers are developing fuel-efficient diesel engines and investing in alternative powertrains. Also, the demand for long-haul sleeper cabs is high, especially for long-haul cross-border freight transport across Europe. Although supply chain disruptions and component shortages have impacted truck production, there is strong demand from e-commerce as well as the industrial sector.
   
• Germany’s government investments in charging infrastructure and general state support for electrification and automation of class 8 trucks puts the country at the forefront of these industry changes. Germany's push towards carbon neutrality by 2045 incentivizes fleet operators to pivot towards electric and hydrogen fuel cell trucks, even if the initial costs, as well as the charging and refueling network, are limited.
   
• Furthermore, the creation of autonomous and connected trucks is proceeding at a swift pace with the implementation of AI powered fleet management, and platooning systems by German manufacturers for enhanced safety and efficiency. The German market for class 8 trucks prioritizes emissions-free options and automated fleet management services down the line.
   

Class 8 Truck Market Share

• The top 7 companies: PACCAR, SCANIA, MAN, Navistar, Volkswagen, Volvo, and Daimler Trucks hold a significant market share of over 40% in the class 8 market.
   
• The firm has a strong reputation for engineering sophistication coupled with an extensive network of dealers, PACCAR is well known for its. The organization has in its portfolio sophisticated and reliable trucks meant for North America and Europe.
   
• As an innovative leader in the market, PACCAR has made consistent investment in the development of fuel-efficient diesel engines, electric powertrains, and autonomous driving vehicles. Furthermore, PACCAR Financial Services offers fleet-friendly support for new unit purchase financing. Coupled with the company’s strong manufacturing presence base in the US and Europe, it makes clients loyal to PACCAR because of long term fleet contracts and high residual value of PACCAR trucks.
   
• A Volkswagen Group owned brand, Scania, leads the Class 8 truck market in Europe, South America, and some parts of Asia while being known for its excellent fuel consumption, high safety standards, and ecofriendly nature. The modular system of the company allows buyers to configure the trucks for different applications which increases the efficiency of the fleet.
   
• Scania has been foremost in the use of renewable fuels, hybrid powertrains, and battery electric trucks in compliance with Europe’s strict emissions regulations. In addition, Scania driver training implementations and other fleet management programs help customers to improve the fuel economy and reduce operational expenses. His is also an example of innovation together with customization and sustainability, which enables a strong position in the Class 8 truck segment.
   
• Particularly in Europe and some other international areas, MAN has captured quite a bit of the market due to advanced engineering and safety features coupled with powertrain efficiency. The company has a solid presence in logistics, construction, and other specialized fields which augments the versatility of its trucks.
   

Class 8 Truck Market Companies

Major players operating in the class 8 truck industry are:

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

The industry leaders are also automating the market through electric and autonomous driving technologies along with strategic partnerships. Their acquisitions have been sustained over time, enabling them to diversify and respond to changes in the marketplace. Through heavy investments in R&D, these firms not only ensure compliance with global emission restrictions but also lead the development of sustainable truck solutions.
 

Such partnerships with logistic service providers and technological companies foster in-depth integration of the trucks into sophisticated fleet systems, improving the efficiency of transport and logistics services. The combined efforts towards improving fuel economy and reducing carbon emissions also address the needs of customers and regulatory requirements. Such market foresight, coupled with innovation and inter-organizational cooperation, enables Daimler and Volvo to capture the fast-evolving class 8 truck market.
 

Class 8 Truck Industry News

• In May 2024, Honda entered the hydrogen fuel cell market in North America with the unveiling of a Class 8 Hydrogen Fuel Cell Truck Concept at the Advanced Clean Transportation (ACT) Expo. The Company is looking for interested business partners to help it achieve no negative impact on the environment by 2050 through the expansion of its hydrogen business.
   
• In April 2024, The Volvo Group has intentions to establish a new factory in Mexico for manufacturing heavy-duty trucks. This will be in addition to the rest of the production already taking place in the United States. If this comes to fruition, the OEM will most probably remain the sole active participant of the US Class 8 truck segment to have a plant in Mexico by 2026.
   
• In November 2023, Hyzon Motors announced plans to begin field testing of next-generation Class 8 hydrogen fuel cell electric trucks with customers in the United States starting in the first quarter of 2024.
   
• In September 2023, ElectraMeccanica and Tevva, prospective merger partners, plan to commercialize a Class 8 truck powered by both hybrid electric and hydrogen fuel in the United States no later than 2027.
   

The class 8 truck market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) and shipment (Units) from 2021 to 2034, for the following segments:

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Market, By Fuel

• Diesel
  • Freight delivery
  • Utility services
  • Construction & mining
  • Others
• Natural gas
  • Freight delivery
  • Utility services
  • Construction & mining
  • Others
• Hybrid electric
  • Freight delivery
  • Utility services
  • Construction & mining
  • Others
• Others
  • Freight delivery
  • Utility services
  • Construction & mining
  • Others

Market, By Cab

• Day cab
• Sleeper cab

Market, By Application

• Freight delivery
• Utility services
• Construction & mining
• Others

Market, By Axle

• 4x2
• 6x4
• 6x2

Market, By Horsepower

• Below 300HP
• 300HP - 400HP
• 400HP - 500HP
• 500HP & Above

Market, By Ownership

• Fleet operator
• Independent operator 

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Belgium
  • Sweden
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Iran
  • Turkey