United States Commercial Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The United States Commercial Vehicles Market is segmented by Vehicle Type ( Commercial Vehicles ) and by Engine Type ( Hybrid And Electric Vehicles, ICE )

US Commercial Vehicles Market Size

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United States Commercial Vehicles Market
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 165.04 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 222.09 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Body Type Trucks
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 6.12 %
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Body Type Medium and Heavy Duty Vehicles

Major Players

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*Disclaimer: Major Players sorted in no particular order

Key Players

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US Commercial Vehicles Market Analysis

The United States Commercial Vehicles Market size is estimated at USD 165.04 billion in 2024, and is expected to reach USD 222.09 billion by 2029, growing at a CAGR of 6.12% during the forecast period (2024-2029).

  • Largest Segment by Vehicle Type - Light Commercial Pick-up Trucks : Rising demand for pickup trucks, owing to the growing e-commerce and logistics sector is responsible for making light commercial pick-up trucks the largest segment in commercial vehicles in the US.
  • Largest Segment by Fuel Type - Gasoline : Diesel acquires largest share in US commercial vehicles market due to the traditional and reliable fuel type (more power and torque and fuel is easily available) over others such as electric or CNG.
  • Fastest-growing Segment by Fuel Type - FCEV : The norms introduced by the government, awareness of e-mobility, development in charging infrastructure and incentiveS is making BEV as fastest growing fuel type in the US commercial vehicle market.

US Commercial Vehicles Market Trends

This section covers the major market trends shaping the US Commercial Vehicles Market according to our research experts:

Trucks is the largest segment by Body Type.

United States Commercial Vehicles Market

US Commercial Vehicles Industry Overview

The United States Commercial Vehicles Market is fragmented, with the top five companies occupying 21.44%. The major players in this market are Daimler Trucks North America, Ford motor company, GM motors, Toyota motor corporation and Volvo group (sorted alphabetically).

US Commercial Vehicles Market Leaders

  1. Daimler Trucks North America

  2. Ford motor company

  3. GM motors

  4. Toyota motor corporation

  5. Volvo group

*Disclaimer: Major Players sorted in no particular order

United States Commercial Vehicles Market
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US Commercial Vehicles Market News

  • May 2022: With a brand-new, all-electric e-transit custom, Ford Professional showcases the thrilling next chapter of the electrification adventure. This car has a targeted 380 km of range, complete towing capacity, DC rapid charging, and the exclusive Pro-Power Onboard function. The production will begin in 2023 at Ford Otosan facility in Kocaeli, Turkey.
  • April 2022: Ford Pro introduces a comprehensive solution that combines cars with software and digital services to boost productivity for European business clients. As more companies switch to electric cars, it lowers operating costs and improves sustainability.
  • March 2022: Ford, SK, and Koç are establishing a cooperative venture to hasten the electrification revolution in Europe. Through this joint venture, Ford is able to take the lead and accelerate the electrification of commercial vehicles.

US Commercial Vehicles Market Report - Table of Contents

  1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. REPORT OFFERS

  3. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study

    3. 1.3. Research Methodology

  4. 2. KEY INDUSTRY TRENDS

    1. 2.1. Population

    2. 2.2. GDP

    3. 2.3. CVP

    4. 2.4. Inflation Rate

    5. 2.5. Interest Rate For Auto Loans

    6. 2.6. Battery Price (per Kwh)

    7. 2.7. Electrification Impact

    8. 2.8. New XEV Models Announced

    9. 2.9. Charging Stations Deployment

    10. 2.10. Regulatory Framework

    11. 2.11. Value Chain & Distribution Channel Analysis

  5. 3. MARKET SEGMENTATION

    1. 3.1. Vehicle Type

      1. 3.1.1. Commercial Vehicles

        1. 3.1.1.1. Buses

        2. 3.1.1.2. Heavy-duty Commercial Trucks

        3. 3.1.1.3. Light Commercial Pick-up Trucks

        4. 3.1.1.4. Light Commercial Vans

        5. 3.1.1.5. Medium-duty Commercial Trucks

    2. 3.2. Engine Type

      1. 3.2.1. Hybrid And Electric Vehicles

        1. 3.2.1.1. By Fuel Type

          1. 3.2.1.1.1. BEV

          2. 3.2.1.1.2. FCEV

          3. 3.2.1.1.3. HEV

          4. 3.2.1.1.4. PHEV

      2. 3.2.2. ICE

        1. 3.2.2.1. By Fuel Type

          1. 3.2.2.1.1. CNG

          2. 3.2.2.1.2. Diesel

          3. 3.2.2.1.3. Gasoline

          4. 3.2.2.1.4. LPG

  6. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles

      1. 4.4.1. Daimler Trucks North America

      2. 4.4.2. Ford motor company

      3. 4.4.3. GM motors

      4. 4.4.4. Hino Motors, Ltd.

      5. 4.4.5. ISUZU COMMERCIAL TRUCKS

      6. 4.4.6. Navistar International Transportation Corporation

      7. 4.4.7. Paccar Inc

      8. 4.4.8. Toyota motor corporation

      9. 4.4.9. Volvo group

  7. 5. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  8. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter's Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 3:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 4:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 5:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 6:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 7:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 8:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 9:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 10:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 11:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 12:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 13:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 14:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 15:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
  1. Figure 16:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY BUSES, BY VOLUME IN UNITS, 2016-2028
  1. Figure 17:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY BUSES, BY VALUE IN USD, 2016-2028
  1. Figure 18:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 19:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 20:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 21:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 22:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 23:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 24:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 25:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 26:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2016-2028
  1. Figure 27:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 28:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 29:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 30:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2021 - 2028
  1. Figure 31:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY ENGINE TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 32:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY ENGINE TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 33:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2016 - 2028
  1. Figure 34:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY ENGINE TYPE, 2016 - 2028
  1. Figure 35:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 36:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 37:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 38:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 39:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY BEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 40:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY BEV, BY VALUE IN USD, 2016-2028
  1. Figure 41:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 42:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FCEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 43:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FCEV, BY VALUE IN USD, 2016-2028
  1. Figure 44:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 45:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY HEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 46:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY HEV, BY VALUE IN USD, 2016-2028
  1. Figure 47:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 48:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY PHEV, BY VOLUME IN UNITS, 2016-2028
  1. Figure 49:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY PHEV, BY VALUE IN USD, 2016-2028
  1. Figure 50:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 51:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FUEL TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 52:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FUEL TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 53:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 54:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL TYPE, 2016 - 2028
  1. Figure 55:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY CNG, BY VOLUME IN UNITS, 2016-2028
  1. Figure 56:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY CNG, BY VALUE IN USD, 2016-2028
  1. Figure 57:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 58:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VOLUME IN UNITS, 2016-2028
  1. Figure 59:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VALUE IN USD, 2016-2028
  1. Figure 60:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 61:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 62:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VALUE IN USD, 2016-2028
  1. Figure 63:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 64:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LPG, BY VOLUME IN UNITS, 2016-2028
  1. Figure 65:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LPG, BY VALUE IN USD, 2016-2028
  1. Figure 66:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
  1. Figure 67:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 68:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 69:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021

US Commercial Vehicles Industry Segmentation

Commercial Vehicles are covered as segments by Vehicle Type. Hybrid And Electric Vehicles, ICE are covered as segments by Engine Type.
Vehicle Type
Commercial Vehicles
Buses
Heavy-duty Commercial Trucks
Light Commercial Pick-up Trucks
Light Commercial Vans
Medium-duty Commercial Trucks
Engine Type
Hybrid And Electric Vehicles
By Fuel Type
BEV
FCEV
HEV
PHEV
ICE
By Fuel Type
CNG
Diesel
Gasoline
LPG
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Market Definition

  • Body Type - It includes buses, light commercial vehicles, medium& heavy-duty vehicles, medium and heavy-duty buses, trucks, M&HDT.
  • Engine Type - This includes Hybrid and electric vehicles and Internal combustion engines (ICE).
  • Fuel Type - Hybrid and electric vehicles include HEV, PHEV, BEV, and FCEV while ICE includes Gasoline, Diesel, CNG, LPG.
  • Sub Body Type - Under this category, buses, heavy-duty commercial trucks, light commercial pickup trucks, light commercial vans, and medium-duty commercial trucks have been included.
  • Vehicle Type - Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV).
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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US Commercial Vehicles Market Research FAQs

The United States Commercial Vehicles Market size is expected to reach USD 165.04 billion in 2024 and grow at a CAGR of 6.12% to reach USD 222.09 billion by 2029.

In 2024, the United States Commercial Vehicles Market size is expected to reach USD 165.04 billion.

Daimler Trucks North America, Ford motor company, GM motors, Toyota motor corporation and Volvo group are the major companies operating in the United States Commercial Vehicles Market.

In the United States Commercial Vehicles Market, the Trucks segment accounts for the largest share by body type.

In 2024, the Medium and Heavy Duty Vehicles segment accounts for the fastest growing by body type in the United States Commercial Vehicles Market.

In 2023, the United States Commercial Vehicles Market size was estimated at USD 158.30 billion. The report covers the United States Commercial Vehicles Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Commercial Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

United States Commercial Vehicles Industry Report

Statistics for the 2024 United States Commercial Vehicles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Commercial Vehicles analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

United States Commercial Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029