Market Share of Heavy Duty Trucks Industry
The market is neither fragmented nor consolidated. The heavy-duty truck market accommodates major regional players and new players, providing equal opportunities. Manufacturers of heavy-duty trucks are engaged in developing effective supplier relations to ensure the timely delivery of high-quality products to meet the growing consumer demand.
- January 2022: Ford Motor Company began the production of an all-electric van, an e-Transit, which has an all-electric powertrain and claims zero tailpipe emissions.
- September 2021: Tata Motors announced its plans to invest over USD 1 billion, or an amount exceeding INR 7,500 crore, over the next 4-5 years to recreate its roadmap for the commercial vehicle business, a major part of which comprises electric vehicles, especially buses.
Some of the major players dominating the market include Volvo Trucks, Daimler Trucks, Isuzu Motors Ltd, PACCAR Inc., Tata Motors, and FAW Group Corp.
Heavy Duty Trucks Market Leaders
AB Volvo
Daimler AG
PACCAR Inc.
Tata Motors Limited
Traton Group
*Disclaimer: Major Players sorted in no particular order
