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Medium Duty Truck Market Share

Report ID: GMI6658
Published Date: Oct 2024
Report Format: PDF

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Medium Duty Truck Market Share

Ford Motor Company and Mercedes-Benz Group AG are the major companies operating in the medium duty truck industry with a combined market share of over 30%. The medium-duty truck industry is dynamic and influenced by various factors such as technological advancements, regulatory changes, and market trends. These companies focus on introducing new & improved medium-duty truck models with advanced features, better fuel efficiency, and enhanced safety measures that can attract customers and create a competitive advantage.

The market is also witnessing an increasing adoption of electric medium duty trucks, encouraging companies operating in this market to launch innovative electric medium duty trucks.

Medium Duty Truck Market Companies

Major companies operating in the medium-duty truck industry are:

Ashok Leyland Limited
BharatBenz
Eicher Motor Limited
Ford Motor Company
General Motors
Hino Motors, Ltd.
ISUZU MOTORS
Mercedes-Benz Group AG
PACCAR Inc
Tata Motors Limited
Traton Group

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of medium-duty truck reached USD 51.8 billion in 2023 and is set to witness 5.6% CAGR from 2024 to 2032, led by the rise in e-commerce.

The freight & logistics segment recorded a market share of over 45% in 2023, due to escalating e-commerce activities and global trade.

Asia Pacific market held a revenue share of 45% in 2023, owing to factors such as rapid urbanization and industrialization.

Ashok Leyland Limited, BharatBenz, Daimler Trucks, Eicher Motors Limited, Ford, Freightliner, Isuzu Motors, Kenworth, Navistar, Peterbilt, SCANIA AB, Tata Motors Limited, and Hino Motors.