United States Commercial Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

The United States Commercial Vehicles Market is segmented by Vehicle Type (Commercial Vehicles) and by Propulsion Type (Hybrid and Electric Vehicles, ICE). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

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United States Commercial Vehicles Market Size

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United States Commercial Vehicles Market Summary
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https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2030
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 165 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2030) USD 240.1 Billion
https://s3.mordorintelligence.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Largest Share by Vehicle Body Type Light Commercial Pick-up Trucks
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2030) 6.45 %
https://s3.mordorintelligence.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Fastest Growing by Vehicle Body Type Buses

Major Players

United States Commercial Vehicles Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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United States Commercial Vehicles Market Analysis

The United States Commercial Vehicles Market size is estimated at 165 billion USD in 2024, and is expected to reach 240.1 billion USD by 2030, growing at a CAGR of 6.45% during the forecast period (2024-2030).

165 Billion

Market Size in 2024 (USD)

240.1 Billion

Market Size in 2030 (USD)

2.85 %

CAGR (2017-2023)

6.45 %

CAGR (2024-2030)

Largest Segment by Vehicle Body Type

72.37 %

value share, Light Commercial Pick-up Trucks, 2023

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Light commercial pick-up trucks dominate due to their versatility in urban and rural areas, high demand from small businesses, and suitability for a range of tasks from delivery to construction.

Largest Segment by Fuel Category

68.14 %

value share, Gasoline, 2023

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Gasoline remains the largest segment due to the widespread refueling infrastructure, lower upfront vehicle costs compared to alternatives, and long-standing consumer familiarity with gasoline engines.

Fastest-growing Segment by Fuel Category

36.61 %

Projected CAGR, FCEV, 2024-2030

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FCEVs are growing rapidly due to advancements in hydrogen technology, significant investments in hydrogen fueling infrastructure, and increasing focus on zero-emission vehicles.

Leading Market Player

30.04 %

market share, Ford Motor Company, 2023

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Ford Motor Company is a significant player in the US commercial vehicle market, utilizing its engineering and R&D capabilities. The company operates many factories worldwide.

Second leading Market Player

26.32 %

market share, General Motors Company, 2023

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General Motors is the second leading player in the US, benefiting from its focus on full-size pickup truck retail market. Its subsidiaries sell vehicles under various brands.

The diversity of commercial vehicles in the United States is driven by a robust economy, with demands ranging from urban delivery vans to long-haul trucks

  • The commercial vehicle market is undergoing constant evolution due to factors like increased traffic in goods, globalization of regional value chains, advancements in drive technology, and a heightened focus on safety. Since 2005, fuel prices have been on a steady rise, impacting the growth of diesel trucks. Additionally, fuel producers in the United States are operating at near-maximum capacity, leaving little room for production expansion.
  • The onset of the pandemic led to unprecedented disruptions in the commercial vehicle industry's supply chains. Lockdowns and other restrictions imposed globally resulted in mobility and travel limitations of an unprecedented scale. Industries heavily reliant on transportation, such as infrastructure and logistics, came to a standstill, presenting new hurdles for the manufacturing and freight sectors.
  • With the surging demand for electric and hybrid vehicles, several countries have prioritized upgrading their electric vehicle charging infrastructure. Consequently, numerous policies and incentives have been introduced to foster infrastructure growth. The US government has taken the lead in enacting legislation to promote electric vehicle adoption, aiming to phase out gasoline and diesel vehicle production by 2040, with a majority of vehicles running on batteries. Governments and municipalities have also implemented incentives and regulations to expedite the shift toward sustainable mobility. By 2030, the US government plans to establish 500,000 public chargers, catering to all vehicle types and technologies.
United States Commercial Vehicles Market

United States Commercial Vehicles Market Trends

Rapid growth in electric vehicle sales driven by government initiatives and increasing demand in the US

  • The United States has witnessed a significant surge in the adoption of electric vehicles (EVs) in recent years. This uptick can be attributed to a heightened awareness of EVs, growing environmental concerns, and the implementation of government regulations. Notably, in 2016, California introduced the Zero-Emission Vehicle (ZEV) program aimed at curbing carbon emissions and improving air quality. This initiative has not only spurred the growth of electric cars within California but has also influenced other states to adopt similar ZEV regulations. Consequently, the nation saw a remarkable 634% surge in demand for battery electric vehicles (BEVs) from 2017 to 2022.
  • The demand for electric commercial vehicles in the United States is also on the rise. Factors such as the booming e-commerce industry, increased logistics activities, and governmental initiatives for cleaner transportation have fueled this growth. In a significant move, the governor of New York signed the Advanced Clean Truck (ACT) Rule in September 2021. This rule sets a target for all new light-duty vehicles to be zero-emission by 2035 and the same for medium- and heavy-duty vehicles by 2045. As a result, the United States witnessed a 21% surge in demand for electric commercial vehicles in 2022 compared to the previous year.
  • Governmental efforts, including rebates, subsidies, and strategic plans, are further bolstering the electrification of vehicles nationwide. In May 2022, President Biden unveiled a USD 3 billion plan to expedite domestic battery manufacturing, with the aim of transitioning gas-powered vehicles to electric ones. This push is expected to significantly boost electric mobility in the country, particularly during 2024-2030, thereby amplifying the demand for battery packs.
United States Commercial Vehicles Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • The US population continues to grow steadily, driven by immigration and economic opportunities that require strategic planning
  • The CVP is expected to experience consistent growth, driven by technological advancements, a focus on sustainable transportation, and the US's commitment to automotive innovation and reducing carbon emissions
  • The recent US auto interest rate of 3.6% reflects fluctuations influenced by monetary policies, credit demand, and economic conditions, with a modest increase indicating optimism in the post-pandemic recovery
  • Decreasing battery pack prices and government initiatives drive the US electric vehicle market
  • Historically, the US's LPI score peaked at 3.99 and settled at 3.89. In 2023, it dropped to 3.8, ranking 17th globally. Despite slight declines, the US remains strong in logistics, especially in tracking and tracing.
  • The United States remained a net crude oil importer, importing about 6.28 million bpd from 80 countries
  • The US exhibits remarkable economic resilience and growth, driven by factors like robust financial markets, technological advancements, and adaptable policies
  • The United States grapples with fluctuating inflation but aims for stability for long-term economic leadership
  • The United States achieved a milestone of 128,000 EV Charging Stations in 2022, and the country is poised for continued growth in green mobility
  • Rising demand and strategic product launches drive the electric vehicle market in the US.
  • The United States remained a net crude oil importer in 2022, importing about 6.28 million bpd of crude oil from 80 countries

United States Commercial Vehicles Industry Overview

The United States Commercial Vehicles Market is fairly consolidated, with the top five companies occupying 80.10%. The major players in this market are Daimler AG (Mercedes-Benz AG), Ford Motor Company, General Motors Company, Ram Trucking, Inc. and Toyota Motor Corporation (sorted alphabetically).

United States Commercial Vehicles Market Leaders

  1. Daimler AG (Mercedes-Benz AG)

  2. Ford Motor Company

  3. General Motors Company

  4. Ram Trucking, Inc.

  5. Toyota Motor Corporation

United States Commercial Vehicles Market Concentration

Other important companies include Daimler Truck Holding AG, Hino Motors Ltd., Isuzu Motors Limited, PACCAR Inc., Volvo Group.

*Disclaimer: Major Players sorted in alphabetical order.

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United States Commercial Vehicles Market News

  • August 2023: General Motors will launch an all-electric Cadillac Escalade in late 2024
  • August 2023: General Motors doubles down on plans for an electric future in the Middle East.
  • August 2023: Toyota Kirloskar Motor launched the all-new MPV Vellfire strong hybrid electric vehicle (SHEV) for a starting price of INR 11.99 million and going to INR 12.99 million.

Free with this Report

For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.

United States Commercial Vehicles Market
United States Commercial Vehicles Market
United States Commercial Vehicles Market
United States Commercial Vehicles Market

United States Commercial Vehicles Market Report - Table of Contents

1. EXECUTIVE SUMMARY & KEY FINDINGS

2. REPORT OFFERS

3. INTRODUCTION

  • 3.1 Study Assumptions & Market Definition
  • 3.2 Scope of the Study​
  • 3.3 Research Methodology

4. KEY INDUSTRY TRENDS

  • 4.1 Population
  • 4.2 GDP Per Capita
  • 4.3 Consumer Spending For Vehicle Purchase (cvp)
  • 4.4 Inflation
  • 4.5 Interest Rate For Auto Loans
  • 4.6 Impact Of Electrification
  • 4.7 EV Charging Station
  • 4.8 Battery Pack Price
  • 4.9 New Xev Models Announced
  • 4.10 Logistics Performance Index
  • 4.11 Fuel Price
  • 4.12 Oem-wise Production Statistics
  • 4.13 Regulatory Framework
  • 4.14 Value Chain & Distribution Channel Analysis

5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

  • 5.1 Vehicle Type
    • 5.1.1 Commercial Vehicles
    • 5.1.1.1 Buses
    • 5.1.1.2 Heavy-duty Commercial Trucks
    • 5.1.1.3 Light Commercial Pick-up Trucks
    • 5.1.1.4 Light Commercial Vans
    • 5.1.1.5 Medium-duty Commercial Trucks
  • 5.2 Propulsion Type
    • 5.2.1 Hybrid and Electric Vehicles
    • 5.2.1.1 By Fuel Category
    • 5.2.1.1.1 BEV
    • 5.2.1.1.2 FCEV
    • 5.2.1.1.3 HEV
    • 5.2.1.1.4 PHEV
    • 5.2.2 ICE
    • 5.2.2.1 By Fuel Category
    • 5.2.2.1.1 CNG
    • 5.2.2.1.2 Diesel
    • 5.2.2.1.3 Gasoline
    • 5.2.2.1.4 LPG

6. COMPETITIVE LANDSCAPE

  • 6.1 Key Strategic Moves
  • 6.2 Market Share Analysis
  • 6.3 Company Landscape
  • 6.4 Company Profiles
    • 6.4.1 Daimler AG (Mercedes-Benz AG)
    • 6.4.2 Daimler Truck Holding AG
    • 6.4.3 Ford Motor Company
    • 6.4.4 General Motors Company
    • 6.4.5 Hino Motors Ltd.
    • 6.4.6 Isuzu Motors Limited
    • 6.4.7 PACCAR Inc.
    • 6.4.8 Ram Trucking, Inc.
    • 6.4.9 Toyota Motor Corporation
    • 6.4.10 Volvo Group
  • *List Not Exhaustive

7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

8. APPENDIX

  • 8.1 Global Overview
    • 8.1.1 Overview
    • 8.1.2 Porter’s Five Forces Framework
    • 8.1.3 Global Value Chain Analysis
    • 8.1.4 Market Dynamics (DROs)
  • 8.2 Sources & References
  • 8.3 List of Tables & Figures
  • 8.4 Primary Insights
  • 8.5 Data Pack
  • 8.6 Glossary of Terms
** Subject To Availablity

List of Tables & Figures

  1. Figure 1:  
  2. POPULATION TRENDS, VOLUME IN UNITS, US, 2017 - 2030
  1. Figure 2:  
  2. GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, US, 2017 - 2030
  1. Figure 3:  
  2. AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, US, 2017 - 2030
  1. Figure 4:  
  2. INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, US, 2017 - 2030
  1. Figure 5:  
  2. AUTO LOAN INTEREST RATES, PERCENTAGE, US, 2017 - 2022
  1. Figure 6:  
  2. ELECTRIC VEHICLE MARKET PENETRATION RATE, BY VEHICLE TYPE, PERCENTAGE OF VOLUME, US, 2017 - 2030
  1. Figure 7:  
  2. CHARGING STATION DEPLOYMENT, BY TYPE, VOLUME IN UNITS, US, 2017 - 2022
  1. Figure 8:  
  2. AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, US, 2017 - 2030
  1. Figure 9:  
  2. ANNOUNCEMENT OF NEW XEV MODELS, BY VEHICLE TYPE, VOLUME IN UNITS, US, 2023 - 2027
  1. Figure 10:  
  2. WORLD BANK LOGISTICS PERFORMANCE INDEX, US, 2017 - 2030
  1. Figure 11:  
  2. FUEL PRICE, BY FUEL TYPE, USD/LITER, US, 2017 - 2022
  1. Figure 12:  
  2. OEM-WISE PRODUCTION STATISTICS, VOLUME IN UNITS, US, 2017 - 2022
  1. Figure 13:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, VOLUME IN UNITS, 2017 - 2030
  1. Figure 14:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, VALUE IN USD, 2017 - 2030
  1. Figure 15:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 16:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VALUE IN USD, 2017 - 2030
  1. Figure 17:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 18:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 19:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY BUSES, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 20:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY BUSES, BY VALUE IN USD, 2017 - 2030
  1. Figure 21:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 22:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2017 - 2030
  1. Figure 23:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 24:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2017 - 2030
  1. Figure 25:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 26:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2017 - 2030
  1. Figure 27:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 28:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2017 - 2030
  1. Figure 29:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY PROPULSION TYPE, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 30:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY PROPULSION TYPE, BY VALUE IN USD, 2017 - 2030
  1. Figure 31:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
  1. Figure 32:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
  1. Figure 33:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 34:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
  1. Figure 35:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 36:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 37:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 38:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 39:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 40:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 41:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 42:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 43:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 44:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 45:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 46:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 47:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 48:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 49:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 50:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
  1. Figure 51:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 52:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 53:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY CNG, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 54:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY CNG, BY VALUE IN USD, 2017 - 2030
  1. Figure 55:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 56:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 57:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY DIESEL, BY VALUE IN USD, 2017 - 2030
  1. Figure 58:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 59:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 60:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY GASOLINE, BY VALUE IN USD, 2017 - 2030
  1. Figure 61:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 62:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LPG, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 63:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, BY LPG, BY VALUE IN USD, 2017 - 2030
  1. Figure 64:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 65:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
  1. Figure 66:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
  1. Figure 67:  
  2. UNITED STATES COMMERCIAL VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021

United States Commercial Vehicles Industry Segmentation

Commercial Vehicles are covered as segments by Vehicle Type. Hybrid and Electric Vehicles, ICE are covered as segments by Propulsion Type.

  • The commercial vehicle market is undergoing constant evolution due to factors like increased traffic in goods, globalization of regional value chains, advancements in drive technology, and a heightened focus on safety. Since 2005, fuel prices have been on a steady rise, impacting the growth of diesel trucks. Additionally, fuel producers in the United States are operating at near-maximum capacity, leaving little room for production expansion.
  • The onset of the pandemic led to unprecedented disruptions in the commercial vehicle industry's supply chains. Lockdowns and other restrictions imposed globally resulted in mobility and travel limitations of an unprecedented scale. Industries heavily reliant on transportation, such as infrastructure and logistics, came to a standstill, presenting new hurdles for the manufacturing and freight sectors.
  • With the surging demand for electric and hybrid vehicles, several countries have prioritized upgrading their electric vehicle charging infrastructure. Consequently, numerous policies and incentives have been introduced to foster infrastructure growth. The US government has taken the lead in enacting legislation to promote electric vehicle adoption, aiming to phase out gasoline and diesel vehicle production by 2040, with a majority of vehicles running on batteries. Governments and municipalities have also implemented incentives and regulations to expedite the shift toward sustainable mobility. By 2030, the US government plans to establish 500,000 public chargers, catering to all vehicle types and technologies.
Vehicle Type Commercial Vehicles Buses
Heavy-duty Commercial Trucks
Light Commercial Pick-up Trucks
Light Commercial Vans
Medium-duty Commercial Trucks
Propulsion Type Hybrid and Electric Vehicles By Fuel Category BEV
FCEV
HEV
PHEV
Propulsion Type ICE By Fuel Category CNG
Diesel
Gasoline
LPG
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Market Definition

  • Vehicle Type - The category covers light, medium, and heavy duty commercial vehicle.
  • Vehicle Body Type - This includes Light Commercial Pick-up Trucks, Light Commercial Vans, Medium-duty Commercial Trucks, Heavy-duty Commercial Trucks, and Medium and Heavy Duty Buses.
  • Fuel Category - The category includes various fuel types such as Gasoline, Diesel, LPG (Liquefied Petroleum Gas), CNG (Compressed Natural Gas), HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles)
Keyword Definition
Electric Vehicle (EV) A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles.
BEV A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models.
PEV A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids.
Plug-in Hybrid EV A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally.
Internal combustion engine An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel.
Hybrid EV A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking.
Commercial Vehicles Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV).
Passenger Vehicles Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat.
Light Commercial Vehicles Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category.
M&HDT Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category.
Bus A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses.
Diesel It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed.
Gasoline It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug.
LPG It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study.
CNG It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines.
HEV All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices.
PHEV PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly.
Hatchback These are compact-sized cars with a hatch-type door provided at the rear end.
Sedan These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage.
SUV Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles.
MPV These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all its reports.

  • Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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United States Commercial Vehicles Market Research FAQs

The United States Commercial Vehicles Market size is expected to reach USD 165.04 billion in 2024 and grow at a CAGR of 6.45% to reach USD 240.12 billion by 2030.

In 2024, the United States Commercial Vehicles Market size is expected to reach USD 165.04 billion.

Daimler AG (Mercedes-Benz AG), Ford Motor Company, General Motors Company, Ram Trucking, Inc. and Toyota Motor Corporation are the major companies operating in the United States Commercial Vehicles Market.

In the United States Commercial Vehicles Market, the Light Commercial Pick-up Trucks segment accounts for the largest share by vehicle body type.

In 2024, the Buses segment accounts for the fastest growing by vehicle body type in the United States Commercial Vehicles Market.

In 2023, the United States Commercial Vehicles Market size was estimated at 165.04 billion. The report covers the United States Commercial Vehicles Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Commercial Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028, 2029 and 2030.

United States Commercial Vehicles Industry Report

Statistics for the 2023 United States Commercial Vehicles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Commercial Vehicles analysis includes a market forecast outlook to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

United States Commercial Vehicles Market Report Snapshots

United States Commercial Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

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