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Commercial Truck Market Share

Report ID: GMI9241
Published Date: Apr 2024
Report Format: PDF

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Commercial Truck Market Share

Ford, Daimler and Traton held significant market share of over 25% market share in 2023. These manufacturers continuously innovate to meet the specific needs of the market, developing trucks with advanced technology, improved fuel efficiency, and enhanced safety features. Companies invest heavily in research and development to create trucks that comply with regulatory standards and customer requirements.

Additionally, marketing strategies target fleet operators and logistics companies, highlighting the benefits of their products. By focusing on the unique demands of the market, companies ensure a steady demand for their products and maintain their competitiveness in this dynamic industry.

Commercial Truck Market Companies

Major companies operating in the commercial truck industry are:

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

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of commercial truck recorded USD 9 trillion in 2023 and will expand at a 7% CAGR between 2024 and 2032, owing to expanding global trade, the rise of e-commerce, and technological advancements for enhancing vehicle efficiency and safety.

The diesel segment secured more than 83% of the market share in 2023, attributed to the established infrastructure supporting diesel refueling stations.

Asia Pacific market captured 60% share in 2023, driven by burgeoning urbanization, robust economic growth, and increasing industrialization across the region.

Prominent companies operating in the commercial truck market are Ford, Daimler, Freightliner, Navistar, Isuzu Motors, Kenworth, Mack Trucks, MAN, Peterbilt, Scania AB, and Volvo Trucks among others.