Fuel and Lube Trucks Market Research, Trends and Forecast

Fuel and Lube Trucks Market Analysis & Growth Opportunities

The fuel and lube trucks market size is projected to reach USD 3.18 billion by 2034, growing from USD 2 billion in 2025, at a CAGR of 5.34% during the forecast period from 2025 to 2034.

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Introduction

The fuel and lube trucks market is a crucial branch of the automotive industry. This industry deals in manufacturing and distribution of trucks used for transporting fuels and lubricants across the world. There are several types of trucks developed in this industry consisting of fuel tank trucks, lube service trucks and combination trucks. These trucks come in various capacities such as 10,000 kg, 10,000 to 15,000 kg, 15,000 to 25,000 kg and above 25,000 kgs.

It finds applications in numerous end-use sectors including transportation and logistics, construction and infrastructure development, mining and natural resources extraction, agriculture and farming operations and some others. The growing development in mining sector has contributed to the industrial development. This market is likely to rise significantly with the growth of the commercial vehicle industry around the globe.

• According to the World Gold Council, China produced the maximum gold in 2023 with 378.2 tons followed by Russia (321.8 tons) and Canada (191.9 tons).

Highlights of the Fuel and Lube Trucks Market

• North America dominated the fuel and lube trucks market due to the rising development in energy sector.
• Asia Pacific is expected to grow with a significant CAGR due to the presence of numerous truck companies in China, Japan, South Korea and some others.
• The fuel tank trucks segment held the dominant share of the market due to its growing application in oil and gas industry.
• The construction and infrastructure segment led the market due to the rapid government investment for developing the construction and infrastructure sector.

Trends and Statistics of Fuel and Lube Trucks

• According to the International Energy Agency, in 2023, around 38.2 thousand electric trucks were sold in China.
• According to the National Automobile Dealers Association, in U.S., around 507,277 commercial trucks were sold in 2023.
• According to the U.S. Energy Information Administration, around 102.6 million barrels of liquid fuel are manufactured every day in the U.S. during 2024.
• According to the Renewable Fuels Association, around 8470 million gallons of ethanol was produced in Brazil during 2023.

Industry Leader Announcement

In January 2025, Mike Bozzoli, the CEO of Allegiance Trucks announced that,” We are thrilled to partner with McNeilus to bring their industry-leading refuse vehicles to our customers, McNeilus is renowned for its innovative and reliable products, which align perfectly with our commitment to providing high-quality solutions that help businesses operate more efficiently and sustainably. This partnership enhances our ability to serve key industries and meet the evolving needs of our customers with cutting-edge technology and exceptional support.”

Competitive Landscape

The fuel and lube trucks market is a highly fragmented industry with the presence of numerous dominant players. Some of the prominent market players in this industry consists of McLellan Industries, Inc., Niece Equipment, LP, Panda Mechanical Equipment Co., Ltd., Ashok Leyland, Engineered Transportation International, Tremcar, Stellar and some others. These market players are investing heavily for developing advanced trucks to maintain their dominant position in this industry.

• According to the annual report of Ashok Leyland, the revenue of commercial vehicle segment in 2023 was Rs 38024.72 crores in 2023 that increased to Rs 40956.35 crores in 2024.

Market Segmentation

By Truck Type

• Fuel Tank Trucks
• Lube Service Trucks
• Combination Trucks

By Capacity

• Below 10,000 kg
• 10,000 to 15,000 kg
• 15,000 to 25,000 kg
• Above 25,000 kg

By Application

• Transportation and Logistics
• Construction and Infrastructure Development
• Mining and Natural resources Extraction
• Agriculture and Farming Operations
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
• Middle East and Africa (MEA)
  • KSA
  • UAE
  • South Africa