As per Adroit market research analysis, global heavy-duty trucks are likely to experience potentially disruptive revolutionary changes in the near future. As electric vehicle technology progresses, the global market players will introduce robust heavy-duty trucks to maintain their global presence in the industry. In June 2019, at a conference on electric vehicles in Portland, market leaders conferred the potential for truck manufacturers to shift diesel-powered trucks to the electric one, which will drive 200 to 300 miles on a single charge. To meet the requirement, Daimler Trucks North America LLC, formerly known as Freightliner Corporation has started the planning for this shift in the heavy-duty trucks by launching electric truck models; eCascadia and eM2 electric trucks, which was launched in June 2018. The company intended to manufacture them at its Portland factory by 2021.

Key players operating in the market are also involved in cutting-edge testing programs to develop new advanced series of heavy-duty trucks for confirming enhanced vehicle performance in climatic conditions and diversified highway. For instance, in June 2018, Freightliner Corporation introduced a trial and development program for its new truck model in Australia. This assessment program was a part of the right-hand drive test program in New Zealand and Australia, thus posing a positive stance for the global heavy-duty trucks market share in the given time frame.

There are some organizations that have fleet assets that are completely essential to their industry and are capable enough to spend in new systems, technologies, people and developments to permit them to accomplish their fleets’ assets with a huge success, these are known as outsourced fleet management. In addition, some organizations have a lesser footprint that is able to manage their assets by influencing local relationships. These kind of organizations are managed by themselves, known as self-managed Fleet.

The fleet management system that provides various services and working as a separate agency, is known as non-self-managed fleets.

The self-management fleet segment is projected to attain the highest market share value in the coming years. The growth is primarily attributed towards its multiple advantages over non-self-fleet management systems such as reduction in fuel expenses, less severe braking incidents, less engine wasting time, reduced overtime, and better efficiency. Thereby, it is expected to gain a high growth rate in the near future.

The construction sector is anticipated to attain the highest market share value during the forecast period owing to the huge scope market resulted from the growing construction activities across the world. According to the Statista Research Department, the U.S. is one of the largest construction markets, with a spending of reaching over USD 1,231 Billion in 2018.

The global heavy-duty trucks market finds its market scope in North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The robust industrial growth in emerging economies such as China and India is propelling the industry growth at a fast pace. The growth is mainly attributed to the growing demand for consumer goods on the account of increasing population, rapid urbanization and widespread infrastructure development in this region. 

In Europe, Germany is recognized as the logistics hub owing to the huge industrialization and commercial activities. Likewise, the Middle East and South America will act as a growth engine in the global market due to increasing trading and commerce activities. With the growing demand, many countries are spending in the mining activities in South America and Africa region due to the rising consumption of metals and minerals such as shale gas, copper, iron, and limestone. In turn, the heavy-duty trucks demand is expected to surge in the coming years. 

North America is anticipated to attain significant growth in the given time frame due to the strong presence of the leading global players such as Kenworth, International Harvester Company, Freightliner Trucks, Peterbilt Motors Company, and Mack Trucks, Inc. Augmented industrial, construction, and manufacturing activities alongside higher prevalence of truck service provider are further expanding the North America heavy-duty trucks market over the forecast period.

Key players in this industry include FAW Group Corporation, Daimler Trucks, Mack Trucks, Iveco, Scania, Volvo Trucks, PACCAR, Ashok Leyland, MAN Trucks & Bus, and Tata Motors.