Heavy-Duty Trucks Market Growth Potential & Forecast, 2032

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Heavy-Duty Trucks Market Global Analysis,
Opportunities And Forecast To 2032
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• Industry Insights

• Heavy-Duty Trucks Market is projected to cross
  USD 400 Bn by 2032. Constant tech innovations in
  electric motor technologies, coupled with
  advancements in charging and battery technology,
  will also positively contribute to the growth of
  heavy-duty trucks market over the study
  timeframe.
• Major manufacturers operating in the overall
  marketplace are seeking expanding their global
  presence and diversifying their product
  categories to gain a competitive advantage via
  acquisitions, mergers, and partnerships. For
  instance, in January 2023, Tata Motors acquired
  Ford India's manufacturing plant at Sanand
  through its subsidiary. With this acquisition,
  Tata Motors plans to expand its manufacturing
  capability across the Indian subcontinent.

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• Based on class, the 4X2 segment will exhibit over
  5 CAGR through 2032. The easy availability of
  cost-effective models of heavy-duty trucks with
  4x2 axle configuration will help the segment grow
  in the coming years.
• By fuel, the hybrid electric segment is
  anticipated to demonstrate strong momentum
  through 2032. Constantly surging demand for these
  trucks owing to several benefits such as lower
  noise, superior engine power, and torque will
  assist the segment expansion. In addition,
  constant technological advancements in hybrid
  technologies, which will enhance truck efficiency
  are slated to expand the segment share over the
  study timeframe.
• Considering the horsepower, the 300HP-400HP
  segment will demonstrate a positive trajectory
  through 2032. The rising demand for heavy-duty
  truck engines with 300 to 400 hp, given their
  low-cost compared to higher horsepower
  configurated engines and benefits including low
  engine weight and high fuel efficiency, will
  positively influence the segment expansion.

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• Regional Analysis

• Europe heavy-duty truck industry will depict over
  8 CAGR through 2032. Increasing consumer
  preference for autonomous heavy-duty trucks
  across the region will increase the product
  demand. Besides, rising deployment of audio
  speakers equipped with ADAS systems for truck
  drivers to provide timely alerts and
  notifications for potential risks and threats on
  the road would support the growing product sales.

• Competitive Analysis

• Daimler Group, Ford Motor Company, Navistar,
  Oshkosh Corporation, Paccar, Volkswagen, Volvo

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