As per MRFR analysis, the Class 6 Trucks Market Size was estimated at 41.26 (USD Billion) in 2022.The Class 6 Trucks Market Industry is expected to grow from 43.46(USD Billion) in 2023 to 69.3 (USD Billion) by 2032. The Class 6 Trucks Market CAGR (growth rate) is expected to be around 5.32% during the forecast period (2024 - 2032).
The steady economic recovery, coupled with increased demand for transportation and logistics services, is a major driver for the growth of the Class 6 Trucks market. Technological advancements, such as the adoption of telematics and safety features, are also driving the demand for these vehicles. Furthermore, the growing need for efficient and reliable transportation solutions is creating opportunities for market players to explore innovative designs and solutions that cater to the specific requirements of end-users. In recent times, advancements in connectivity and automation have emerged as key trends shaping the Class 6 Trucks market. Fleet management systems and driver assistance technologies are becoming increasingly prevalent, enabling improved efficiency and safety in commercial transportation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The demand for medium-duty trucks is increasing due to the growing e-commerce industry, urbanization, and globalization. Class 6 trucks are used for a variety of applications, including distribution, logistics, and construction. The demand for Class 6 trucks will continue to increase in the next years. First, the demand for last-mile delivery services is growing due to the rapid development of e-commerce. Class 6 trucks are suitable for this service since they are highly maneuverable.In addition, electric Class 6 trucks can be used in this application, which will improve the sustainability of logistics. Second, the demand for construction is rising globally, and Class 6 trucks are used to deliver building materials and equipment to construction sites. Lastly, the globalization of trade is a major factor that increases the demand for Class 6 trucks. Many businesses are expanding their operations to other countries, and there is a need for reliable transportation for goods to be transported between countries.Since Class 6 trucks have larger capacities than Class 4 and electric range to travel long distances, they will be in demand in the future.
Also, it should be noted that requirements and regulations established by the government also add to the demand for Class 6 trucks. Strong emissions standards have been established to prevent the problem of air pollution, and as a result, the fact that these standards can be satisfied by the Class 6 trucks makes them more in demand. Furthermore, some governments also provide benefits to companies that purchase Class 6 trucks that match the specified emissions standards.Additionally, the demand for the Class 6 truck is also related to the environment topic. In other words, many companies seek to expand their environment-friendly practices, and the alternatives that can help these companies achieve their goals are in high demand.
Such examples of the factors driving the demand for Class 6 trucks, such as the growth of the urban population and increased freight from online shopping, are observable results of technological progress as well. One of the latest trends in the truck industry is the development of new technologies, such as automated driving systems and electric powertrains, which make Class 6 trucks more efficient, safe, and ecological. Automated driving systems reduce driver fatigue and make the work with these vehicles much safer, and electric powertrains reduce emissions and cut costs on diesel and petrol one has to buy. According to forecasts, the demand for these new trucks will increase in the future years.
The Class 6 Trucks Market is segmented into body types, which include straight trucks and tractor trucks. The straight trucks segment led the market in 2023 since they are versatile and diverse and can be used for a wide array of applications. However, the tractor truck segment is anticipated to increase at a faster rate in the forecast period owing to the higher demand for long hauls. Choosing between these two types of trucks will depend on their application and adaptability. Straight trucks are suitable for short-haul transportation and can have a range of configurations, such as box trucks, wherein all of the vehicles’ components, including the truck’s bulky frame, engine, and storage space, are a single unit.Furthermore, such trucks can be designed to be refrigerated, which is called refrigerated and cool math trucks. Other straight trucks, called dump trucks, are meant to hold a wide range of materials, such as sand and, rubble, and dirt.
They can also carry materials such as gasoline and other light liquids, as well as sturdy concrete, pipes, and lumber. Therefore, straight trucks are experiencing a high demand from Class 6 trucks owing to their ability to carry more freight than any other Class 6 truck. Class 6 trucks have high-torque, 6-cylinder diesels that offer ample muscle to tow rising loads while being less expensive than Class 7 and 8 models as a bonus, which is a core driver of the market’s growth.Furthermore, the increase in the transport of goods and services is also boosting the demand for these vehicles. Additionally, an increase in the number of foods and beverages meant for delivery is driving the demand for these vehicles. Fine delivery trucks are also equipped with Class 6 engines, which is a driving factor in the market.
The rapid pace of e-commerce and the gradual shift in the preference of shopping online also increase the demand for these trucks. They are often used for the transportation of goods in the last mile. The leading players in the Class 6 Trucks Market are Daimler AG, Volvo AB, and PACCAR Inc.These companies invest in new technologies and innovations in order to enhance the efficiency and performance of these trucks.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The market is divided by type of fuel such as Diesel, Gasoline, and Electric. Diesel is considered to be the most prevailing fuel in the Class 6 Trucks Market, and it amounts to more than 70% of the market share. This is justified by the fact that diesel engines exhibit high power and torque, which is preferable in heavy-duty applications; however, there are certain concomitants, such as diesel engines, are less expensive to build, maintain, and repair, but the pollutants expelled by diesel engines are also higher than gasoline and electric engines.
Gasoline engines are more efficient than diesel engines; however, they have less power and torque, which are usually implemented in light-duty applications, such as pick-up trucks and vans to transport goods and people. Electric engines are also relatively new in the Class 6 Trucks Market; their implementations can be justified since they expel zero emissions and are less expensive than diesel and gasoline engines. It is expensive to manufacture, repair, and maintain, with less driving range. The growth in the electric Class 6 Trucks Market is motivated by government legislation that is purposed to lessen emissions, with burgeoning demand for sustainable transportation options.Some of the key players in the Class 6 Trucks Market are Daimler AG, Volvo Group, Paccar Inc., Isuzu Motors Limited, and Hino Motors, Ltd.
The Payload Capacity segment is a crucial aspect of the Class 6 Trucks Market segmentation, providing insights into the demand for Class 6 trucks based on their payload capacity. The segment is categorized into 'Up to 10 tonnes', '10-15 tonnes', and '15-20 tonnes'. The 'Up to 10 tonnes' segment caters to light-duty applications and is expected to witness steady growth due to rising demand for last-mile delivery and urban transportation. In 2023, this segment held a significant share of the Class 6 Trucks Market revenue, valued at approximately USD 12.34 billion.The '10-15 tonnes' segment holds a substantial market share and is projected to expand at a moderate CAGR during the forecast period. This segment is driven by increasing demand from the construction, agriculture, and logistics industries. The '15-20 tonnes' segment, targeting medium-duty applications, is anticipated to exhibit promising growth. This segment is gaining traction due to its versatility and suitability for regional and long-haul transportation.
The application segment of the Class 6 Trucks Market is diverse, with various sectors utilizing these vehicles for their specific needs. Construction, transportation, distribution, and utilities are among the key application areas. In the construction sector, Class 6 trucks are employed for transporting materials, equipment, and personnel to and from construction sites. They offer versatility and maneuverability in navigating rough terrain and accommodating heavy loads. The transportation sector relies on Class 6 trucks for long-haul deliveries, providing efficient movement of goods across regions.In the distribution industry, these trucks are utilized for last-mile deliveries, ensuring timely and reliable distribution of products to businesses and end-consumers. Additionally, utility companies leverage Class 6 trucks for maintenance, repair, and emergency response operations, requiring vehicles that can navigate diverse terrains and carry specialized equipment. The Class 6 Trucks Market revenue is projected to reach $43.46 billion in 2023, with a steady growth trajectory driven by the increasing demand from these application segments.
The Class 6 Trucks Market segmentation by region offers valuable insights into the market's regional performance. North America holds a dominant position in the market, with a substantial revenue share. The region's robust construction, mining, and transportation sectors drive demand for Class 6 trucks. Europe follows suit, exhibiting steady growth attributed to infrastructure development and industrial expansion. APAC is projected to witness significant growth, with countries like China and India contributing to the demand for Class 6 trucks due to rapid urbanization and economic growth.South America and MEA represent emerging markets with growth potential, as infrastructure development and mining activities increase the need for heavy-duty vehicles.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Being one of the most dynamic business spheres, leaders of the Class 6 Trucks Market constantly enlarge their product offerings. Classical tendencies include the development of the product line and the enlargement of the market by means of increasing the product offering and customer experiences. Moreover, it is expected that in the upcoming decade, the Class 6 Trucks Market may demonstrate the increasing application of electric and autonomous technologies.
As for the current era, the major characteristics of the Class 6 Trucks Market are high levels of competition and the concentration of market powers between several well-established rivals. The latter fact causes a strong demand from the size of capital injections in research and development, un-demarcated projects and strategic partnerships. The other market player is International trucks, which were expected by competitors earlier than by customers to raise the prices of its offerings in 2020 and concentrate on developing the next generation of trucks on their basis.
The Class 6 Trucks Market is projected to reach USD 69.3 billion by 2032, exhibiting a CAGR of 5.32% during the forecast period (2024-2032). Increasing demand for efficient and reliable transportation solutions, coupled with stringent emission regulations, is driving market growth. The rise of e-commerce and the expansion of logistics and transportation sectors are further contributing to the demand for Class 6 trucks. Technological advancements, such as the integration of advanced safety features and fuel-efficient engines, are expected to fuel market growth. Key industry players are focusing on strategic partnerships and collaborations to strengthen their market position. Recent news developments include Daimler Trucks North America's launch of the Freightliner Business Class M2 106, designed for vocational applications, and Hino Motors' introduction of the XL Series Class 6 trucks, featuring advanced safety and connectivity features.
| Report Attribute/Metric | Details |
| Market Size 2022 | 41.26(USD Billion) |
| Market Size 2023 | 43.46(USD Billion) |
| Market Size 2032 | 69.3(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 5.32% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Mitsubishi Fuso Truck and Bus Corporation, Daimler Truck North America, Scania, Bharat Benz, Tata Motors, Iveco, UD Trucks, Paccar, Ashok Leyland, Renault Trucks, Volvo Trucks, Hino Motors, MAN SE, Isuzu |
| Segments Covered | Body Type, Fuel Type, Payload Capacity, Application, Regional |
| Key Market Opportunities | Emissions regulations Increasing demand for fuel efficiency Growing construction industry E-commerce growth Autonomous driving technology |
| Key Market Dynamics | Growth in E-commerce and Logistics Stricter Emissions Regulations Technological Advancements Rising Fuel Costs Increased Infrastructure Investment |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Class 6 Trucks Market was valued at USD 43.46 Billion in 2023, with a projected valuation of USD 69.3 Billion by 2032, reflecting a CAGR of 5.32% during the forecast period.
North America is anticipated to remain the leading region, accounting for a significant share of the global market throughout the forecast period. The presence of key players and favorable government regulations are key growth drivers in this region.
Rising construction and infrastructure development activities, coupled with increasing urbanization and industrialization, are significant growth factors driving the demand for Class 6 trucks globally.
General freight transportation, construction, and distribution are the primary applications that are expected to fuel the growth of the Class 6 Trucks Market, as these sectors heavily rely on efficient and reliable transportation solutions.
Major players operating in the Class 6 Trucks Market include Daimler Truck AG, Volvo Group, PACCAR Inc., Isuzu Motors Limited, Hino Motors, Ltd., and Navistar International Corporation, among others.
Fluctuating raw material costs, supply chain disruptions, and stringent emission regulations pose potential challenges to the growth of the Class 6 Trucks Market.
Advancements in telematics, safety features, and electric powertrains are expected to transform the Class 6 Trucks Market, offering enhanced efficiency, lower emissions, and improved driver safety.
The burgeoning e-commerce industry is expected to drive demand for Class 6 trucks for last-mile delivery and distribution, contributing to the overall market growth.
The Class 6 Trucks Market is projected to reach a valuation of approximately USD 69.3 Billion by 2032, continuing its steady growth trajectory.
Emerging markets such as India, China, and Brazil are anticipated to present substantial growth prospects for the Class 6 Trucks Market, driven by infrastructure development, expanding manufacturing sectors, and increasing urbanization.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
