Medium Duty Truck Market Size, Share and Growth Projections

Medium Duty Truck Market Strategic Analysis and Growth Opportunities

The medium duty truck market is expected to increase from USD 58.53 billion in 2025 to USD 95.01 billion by 2034, growing at a CAGR of 5.53% throughout the forecast period from 2025 to 2034.

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Introduction

The medium duty truck market is a prominent sector of the automotive industry. This industry deals in manufacturing and distribution of medium duty trucks across the world. These trucks are powered by different kinds of fuel consisting of diesel, natural gas, hybrid, electric, gasoline and some others. It finds application in various sectors including construction and mining, freight and logistics, and some others. The rising development in logistics sector has played a crucial role in shaping the industrial landscape. This market is expected to grow significantly with the rise of the electric vehicle industry in different parts of the world.

• According to the India Brand Equity Foundation, the Indian logistics industry was valued at US$ 107.16 billion in 2023 that is expected to reach US$ 159.54 billion by 2028.

Highlights of the Medium Duty Truck Market 

• North America held the highest share of the medium duty truck market.
• Asia Pacific is expected to grow with the highest CAGR during the forecast period.
• By fuel, the diesel segment held a dominant share of the market.
• By fuel, the electric segment is predicted to grow with the fastest CAGR during the forecast period.
• By application, the freight & logistics segment held the lion’s share of the market.
• By application, the construction & logistics segment is likely to grow with the fastest growth rate during the forecast period.

Key Metrics and Overview

Medium Duty Truck: Stats and Figures

• According to the Our World in Data, around 22 million tons of copper were produced globally in 2023.
• According to the U.S. Saudi Business Council, around 570 million tons of coal was produced in the U.S. during 2023.
• According to the Federal Reserve bank of St. Louis, the total construction spending in the U.S. reached US$ 2195755 million in January 2025.
• According to the Logistics UK, there were around 214,160 logistics enterprises in UK during May 2023.

Fuel Insights

The diesel segment held a dominant share of the market. The rising demand for high-performance trucks for operating heavy-duty operations has boosted the market growth. Also, the growing use of diesel-powered trucks due to its enhanced fuel-efficiency and reliability coupled with the surge in demand for medium duty trucks in e-commerce sector is crucial for the industrial expansion. Moreover, rapid investment by automotive companies for developing diesel-powered trucks is anticipated to propel the growth of the medium duty truck market.

• In January 2025, ZM Trucks opened a new production facility in California, U.S. This manufacturing plant is inaugurated to increase the truck manufacturing capacity in the North American region.

The electric segment is predicted to grow with the fastest CAGR during the forecast period. The rising consumer awareness for reducing emission in the environment has boosted the market expansion. Also, numerous government initiatives aimed at strengthening the EV charging infrastructure coupled with technological advancements in battery industry propels the market growth. Moreover, several electric truck companies such as Volvo, BYD, Tata Motors, Isuzu and some others are launching new medium-duty electric trucks, thereby fostering the growth of the medium-duty truck market.

• In March 2025, BYD collaborated with Al-Futtaim. This collaboration is done for launching a new range of medium-duty trucks in UAE.

Application Insights

The freight & logistics segment held the lion’s share of the market. The rising application of medium-duty trucks in logistics sector for transporting e-commerce products has boosted the market growth. Also, increasing trend of last-mile delivery in urban centers coupled with rapid investment by government for providing superior logistics services in isolated areas drives the industry in a positive direction. Moreover, the increasing adoption of electric trucks in freight and logistics sector is expected to propel the growth of the medium duty truck market.

• In April 2025, Aramex launched an AI-enabled platform named ‘Shipsy’. This AI-based platform is designed for facilitating same-day-shipping across UAE.

The construction & mining segment is likely to grow with the fastest growth rate during the forecast period. The rise in number of residential constructions in different parts of the world has boosted the market expansion. Also, rapid investment by government for strengthening the mining sector is crucial for the industrial growth. Moreover, growing use of autonomous trucks in construction and mining sector is expected to propel the growth of the medium duty truck market.

• In April 2025, Aurora launched autonomous trucks in several regions of North America. This truck is designed for reducing the dependency on drivers.

Geographical Insights

North America held the highest share of the medium duty truck market. The rising development in the e-commerce sector has increased the demand for superior logistics operations, thereby driving the market expansion. Additionally, the rising government initiatives aimed at strengthening the mining sector coupled with presence of well-established charging infrastructure propels the market growth. Also, rise in number of research and development activities related to hydrogen-fuel cells trucks is contributing significantly to the market development. Furthermore, the presence of several automotive brands along with rapid investment in EV industry by market players is driving the market growth in this region.

• In March 2024, General Motors announced to launch a series of hydrogen-based medium duty trucks in the U.S. These trucks will be integrated with advanced features to operate in numerous sectors including mining, logistics and some others.

The U.S. is the major contributor of this industry. In U.S., the market is generally driven by the increasing development in the online shopping sector along with rise in number of fleet operators propels the market growth. Also, surge in demand for electric trucks coupled with rapid infrastructural development has boosted the market expansion. Moreover, the presence of various market players such as Kenworth, Paccar, Fargo Trucks, Rizon and some others is projected to foster the growth of the medium duty truck market in the U.S.

• In April 2023, Rizon launched a new series of electric trucks in the U.S. These medium-duty trucks are integrated with advanced technologies such as Active Brake Assist and Active Side Guard Assist.

Asia Pacific is expected to grow with the highest CAGR during the forecast period. The rise in number of coal mines and gold mines across countries such as India, China, Japan, South Korea and some others has boosted the market growth. Also, rapid investment by startup companies for developing hybrid trucks to cater the demands of the logistics sector drives the market expansion. Moreover, surge in demand for electric trucks from the municipalities to curb emission further propels the growth of the medium duty truck market in this region.

• According to the U.S. Geological Survey, the gold production of China was around 380,000 kgs in December 2024.

China held the largest market share in this region. In China, the rising sales of electric trucks along with growing e-commerce sales through platforms such as Alibaba, Pinduoduo, Little Red Book and some others has boosted the market expansion. Additionally, the presence of numerous truck companies such as Sinotruk, Dongfeng, FAW Jiefang and some others drives the industrial in a positive direction. Moreover, the increasing disposable income coupled with availability of raw materials at low prices is projected to boost the market growth.

• According to the International Trade Administration, the e-commerce sales of China was US$ 1.8 trillion in 2019 that increased to US$ 3.5 trillion in 2024.

Industry Leader Announcement

• In May 2023, Tim Krauskopf, the CEO at Motiv Power Systems made an announcement stating that, “Motiv’s new technology platform tackles key barriers to electrifying a commercial fleet: payload confidence, range anxiety and serviceability concerns. And we’ve done so in collaboration with our customers, the driver holding the wheel every day is our target and our success at getting them to advocate for Motiv’s EV’s is the best validation for adoption.”

Competitive Landscape

The medium duty market is a highly competitive industry with the presence of several dominating players. Some of the prominent companies in this industry consists of Hino Motors, BharatBenz, Ford, Ashok Leyland, Eicher Motors Limited, Tata Motors Limited, Daimler Trucks, Isuzu Motors, Navistar, Freightliner and some others. These companies are constantly engaged in developing electric transporters and adopting numerous strategies such as collaborations, joint venture, product launches, partnerships, business expansion, acquisition, and some others to maintain their dominant position in this industry. For instance, in May 2024, Isuzu North America Corp launched an EV-based medium-duty truck. This truck is integrated with acclera powertrain to reduce emission in the environment. Also, in March 2023, Hino Motors launched M- and L- Series medium duty trucks. These medium-duty trucks are integrated with SEA Electric's SEA-Drive power system.

Recent Developments

• In April 2025, Harbinger launched a medium-duty electric truck. This truck is designed for the end-users of the American region.
• In October 2024, Workhorse Group launched a medium-duty truck. This truck is integrated with Siemens Xcelerator that helps in enhancing last-mile delivery operations.    
• In March 2023, Mack Trucks launched Mack MD Electric. Mack MD Electric is a medium-duty truck that provides a carrying capacity ranging between 25,995 pounds and 33,000 pounds.                                                            

Segments Covered in the Report

By Fuel

• Diesel
• Natural Gas
• Hybrid
• Electric
• Gasoline

By Horsepower

• Below 150 HP
• 150 HP-250 HP
• Above 250 HP

By Battery Type

• Construction & Mining
• Freight & Logistics

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• The Middle East and Africa