According to the Graphical Research new growth forecast report titled North America Heavy-Duty Trucks Market size is set to be around USD 63 billion by 2026. Implementation of stringent emission regulations by government authorities in North America will support the heavy-duty trucks market in the region. For instance, in November 2018, the U.S. Environment Protection Agency announced the Cleaner Trucks Initiative (CTI) to reduce the NOx emissions from heavy-duty trucks. According to the EPA, over 97% of the class 8 heavy-duty trucks operating in the U.S. are diesel powered. Through this initiative, the EPA aims to develop stringent emission regulations for diesel trucks, encouraging the adoption of advanced technologies in heavy-duty trucks to reduce emissions.
The growing impact of the COVID-19 pandemic is posing challenges to the growth of heavy-duty trucks industry in North America. Restrictions on movement and trade have adversely impacted the revenue of truck fleet operating companies. Fleet owners are postponing their investments in new heavy-duty trucks due to shortage of capital and financial insecurities. This has created a gap between the demand and supply of heavy-duty trucks in the market. The industry is expected to grow with the economic revival post the reduction of the COVID-19 impact.
Sleeper cab heavy-duty trucks pose a significant growth potential owing to several benefits for truck drivers. Heavy-duty trucks are primarily used for transportation of heavy loads across long distances. This leads to exhaustion and fatigue of truck drivers. Heavy-duty trucks with sleeper cabs allow drivers to halt and rest to relieve the driving stress. Modern amenities provided by OEMs inside sleeper cabs will further drive market growth. The day cab segment is expected to witness high growth due to low cost and compact design compared to the sleeper cab.
Key players operating in the North America heavy-duty trucks market include PACCAR, VOLVO, Ford Motors, Navistar, Peterbilt, Freightliner, Kenworth, Dongfeng, Scania AB, and Isuzu Motors. Market leaders are focusing on launching new models of heavy-duty trucks and upgrading of existing models to increase their market representation. For instance, in January 2019, Dongfeng Motor Group launched new models Dongfeng KL and Dongfeng KR offering advanced powertrain with various driving configurations. The company partnered with Volvo Group for the development of these models.
North America heavy-duty trucks market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and shipments in units from 2016 to 2026 for the following segments:
Market Share, By Class
Market Size, By Fuel
- Natural Gas
- Hybrid Electric
Market Value, By Horsepower
- Below 300HP
- 300HP – 400HP
- 400HP – 500HP
- Above 500HP
The above information is provided on country basis for the following: