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Medium-duty Engine Market Share

Report ID: GMI12347
Published Date: Nov 2024
Report Format: PDF

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Medium-duty Engine Market Share

Medium-duty Engine Company Market Share, 2024

Cummins, PACCAR, and Volvo collectively held a substantial market share of over 16% in the medium-duty engine industry in 2024. Cummins is enhancing fuel efficiency and reducing emissions in diesel and natural gas engines through advanced technology. To meet future energy demands and regulatory standards, they are investing in hybrid-electric and hydrogen-based powertrains. Cummins is also integrating telematics and data analytics to aid fleet managers in predictive maintenance and operational efficiency.

PACCAR, the manufacturer of Kenworth and Peterbilt trucks, focuses on vertical integration and technological innovation. By manufacturing engines in-house, PACCAR ensures high quality, performance, and compatibility across its vehicle lineup. Their engines are designed for fuel efficiency and reliability, and the company has expanded its portfolio to include electric and hybrid models to meet evolving market demands.

Volvo is advancing in the medium-duty market with a focus on sustainability and autonomous technologies. They are developing diesel engines with optimized fuel efficiency while transitioning to electric and hybrid models. Volvo has led the market with hybrid-electric medium-duty trucks in select regions and continues to invest in battery and fuel-cell technologies.

Medium-duty Engine Market Companies

Major players operating in the medium-duty engine industry are:

CNH Industrial
Cummins
Hyundai
Isuzu
MAN
Mercedes Benz
PACCAR
Scania
Tata Motors
Volvo

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of medium-duty engine reached USD 9.2 billion in 2024 and is set to grow at a 6.4% CAGR from 2025 to 2034, driven by the rising demand for last-mile delivery vehicles.

The 150 HP-250 HP segment is expected to exceed USD 3 billion by 2034, led by the demand for lower greenhouse gas emissions and the growing infrastructure for natural gas and propane fueling.

The Chinese market accounted for over 30% of the revenue share in 2024, with manufacturers focusing on localizing production and developing technologies tailored to domestic market needs.

The key players in the industry include CNH Industrial, Cummins, Hyundai, Isuzu, MAN, Mercedes Benz, PACCAR, Scania, Tata Motors, and Volvo.