Last Updated: 28 Jul 2025
Source: Statifacts
US Commercial Vehicles Market (By Vehicle Type: Light Commercial Vehicles, Heavy Commercial Vehicles; By End-use: Industrial, Transportation, Others; By Propulsion Type: IC Engine, Electric Vehicle; By Power Source: Gasoline, Diesel, HEV / PHEV, Battery Electric Vehicle, Fuel Cell Vehicle, LPG & Natural Gas) Industry Size, Share, Growth, Trends 2025 to 2034.
The US commercial vehicles market size was estimated at USD 553.67 billion in 2024 and is expected to grow around USD 927.97 billion by 2034, growing at a CAGR of 5.30% from 2025 to 2034. The market is growing mainly due to the development of infrastructure, which encourages smooth road construction and connectivity between places. This leads to the rise in purchase of commercial vehicles as they can commute at a quicker pace and deliver raw materials for different construction purposes like railway routes, multiple-layer bridges, and more.
| Reports Attributes | Statistics |
| Market Size in 2024 | USD 553.67 Billion |
| Market Size in 2025 | USD 583.01 Billion |
| Market Size in 2030 | USD 754.78 Billion |
| Market Size by 2034 | USD 927.97 Billion |
| CAGR 2025 to 2034 | 5.30% |
| Base Year | 2024 |
| Forecast Period | 2025 to 2034 |
The U.S. commercial vehicles market encompasses commercial vehicles, which are any motor vehicles utilized for conveying goods or paying passengers. These vehicles may include cars, trucks, vans, and even scooters. When any vehicle is registered for business purposes, it is assigned as a commercial vehicle. They are important resources for businesses beyond industries, from logistics and construction to public transport and dedicated services. Some of the types of commercial vehicles are tippers, cargo trucks, pickups, buses, and tractors.
The vehicles are extremely advantageous for heavy lifting, loading, unloading, and conveying of goods and manufacturers for any kind of business purposes, in particular, making them a go-to option for purchase. The number of vehicles produced in the US keeps surging. The companies in the US are developing new technologies and implementing them frequently. More electric vehicles are being looked at for the growth of the market in the future. While electric vehicles are being adopted by individuals for personal use, the commercial sector is also finding them an attractive option for the supply of goods and services on a greater scale. The government is also investing in EVs as their demand is growing, and the sustainability goals will be met frequently.
The U.S. commercial vehicles market has benefited from artificial intelligence. AI-powered face recognition supervises driver fatigue, tracking eye movement and alertness levels to let the drivers know when they might need rest. With the use of sensors such as LiDAR and radar, which can identify the traffic situations and examine patterns to prevent accidents from taking place, AI-assisted technology is saving lives. Technology like advanced driver assistance systems (ADAS), driven by AI, makes vehicles more spontaneous. This is possible due to features like adaptive cruise control, lane-keeping assistance, and automated parking, which depend on AI algorithms to become accustomed to varying road conditions. As a result of predictive analytics, vehicle performance can be kept an eye on, and AI provides data as to when the specific components, such as brakes or tires, may need to be repaired.
What are the U.S. Commercial Vehicles Market Drivers?
The U.S. commercial vehicles market is growing as a consequence of developing infrastructure and a move towards electric and hybrid vehicles. As the roads are becoming robust, it is affecting transport and logistics negatively. This is a primary reason why commercial vehicles are being adopted on a larger scale by business owners. Smart cities are being developed in urban areas. Because of this, construction of buildings and industrial parks is at its peak. These vehicles, including tippers, excavators, and concrete mixers, are necessary to supply materials, while pushing the market further.
Electric and hybrid vehicles are a cost-friendly alternative to gasoline or diesel-powered vehicles. They cost less due to cheap electricity. These vehicles are helpful in facing the challenges related to greenhouse gas emissions. Business organizations are highly reliant on them as they focus on meeting the clean and green environmental needs. This also aids in enhancing the image of these businesses. The government is also encouraging the adoption of electric vehicles by offering subsidies and tax breaks to companies.
What are the U.S. Commercial Vehicles Market Restraints?
The U.S. commercial vehicles market growth faces a few limitations such as severe competition faced by companies can make them indecisive while investing in commercial vehicle production, specifically in the research and development of novel technologies like powertrains run by electricity. This is due to the uncertainty created by the competence of the market players. If the nature of the market turns intensely competitive, the price wars among the vehicle companies may begin. Having said that, the companies that are smaller or have entered the market recently have greater chances of struggling while facing the established firms, as they have fewer resources and can offer lower prices for their customers.
Commercial vehicles are dependent on semiconductors for various systems. If these chips fall short, the production is interrupted, leading to output reduction. The number of skilled workers and technicians actually required for industrial growth is low. This indirectly causes delays in the supply chain. The costs of raw materials such as lithium for EV batteries have risen, which has an impact on the cost of production for commercial vehicles. Also, if the transportation routes have problems, the price of conveyance increases, influencing the final price of vehicles.
What are the U.S. Commercial Vehicles Market Opportunities?
The U.S. commercial vehicles market is giving rise to various opportunities. Though a shopping spree outside the house is still a trend, people are also preferring convenience and ordering goods from home. Similar is the case with businesses. They both need and want the raw materials on time. Commercial vehicles are becoming popular among the citizens overall. The cities are being transformed into smarter cities now. The infrastructure is supportive of the transportation demands. Even the governments are opting for investing in electric vehicle (EV) technology, resulting in increased production of electric commercial vehicles. Digital advances concerning the vehicle, as well as the drivers, are leading to a massive change in the commercial vehicle industry.
While talking about using sustainable materials for production, Koch says, “Redwood recycles lithium-ion batteries to recover and refine between 95-98 percent of critical minerals—including nickel, cobalt, lithium, and copper. Additionally, we manufacture battery components, cathode active material, which we supply to battery manufacturers across the U.S. for new cell production. By integrating recycled materials into domestic battery manufacturing, Redwood is helping to build a more sustainable and circular supply chain. However, this arrangement with Isuzu is specific to recycling.”
The Heavy Commercial Vehicles (HCVs) segment is dominating the commercial vehicles market. When it comes to handling heavy jobs, heavy commercial vehicles are there to the rescue. The medium and heavy-duty commercial vehicles are deployed to ship the goods to faraway destinations. The material necessary for the construction of major infrastructure projects creates demand for trucks that can carry more weight and deliver as quickly as possible. The construction of flyovers, bridges, and residential buildings requires CVs like dump trucks and mixers. Construction of high-speed freight corridors and transport hubs makes the logistics operations effective.
The Light Commercial Vehicles (LCVs) segment is the fastest growing one in the market. The growth in the field of electronic commerce is attributed to the growth of Light commercial vehicles (LCVs) as they are employed to make proficient and timely delivery to customers possible. The firms with e-commerce are growing, and so is the requirement for vehicles. The LCVs)are mainly used for last-mile delivery. The small businesses benefit from LCVs as they enable cost-efficient transport of goods and services, and enable effective competition in contrast to other businesses.
The IC engine segment is dominating the market. IC engines have been upgraded for over ten years now. Therefore, they can be considered highly reliable and well-understood in terms of design. IC engines have the quality of starting quickly, resulting in more rapid CV operations. The fuels used by ICEs include gasoline, diesel, natural gas, biodiesel, and ethanol. Many more fuel options make the IC engine flexible in nature. What is more, diverse vehicle types can make use of these engines. The maintenance of these engines on a regular basis is quite swift and accessible.
The electric vehicle segment is the fastest growing one in the market. EVs can store energy and possibly feed the power collected into the grid. This elevates the value of electric vehicles in the market. By using ADAS systems, AI, and machine learning in EV operating systems, energy efficiency can be looked at, and maintenance of the vehicles becomes possible. Electric buses are becoming increasingly popular among public transport services, as they reduce noise pollution in urban areas. Electric trucks, for covering a shorter distance and regional transit, are considered feasible.
The diesel segment is dominating the market. Diesel engines innately produce high rotating force, essential for carting heavy loads and operating machinery. Thus, they can be used in trucks, construction equipment, and other heavy-duty applications. As compared to gasoline engines, diesel engines have more energy and are more durable. These engines can transform a greater percentage of fuel into usable power. The maintenance costs of diesel engines are low, which leads to lower overall operating costs for commercial vehicles. The diesel engines are eminently used in the heavy-duty commercial vehicle sector, including long-haul trucking, construction, and agriculture.
The fuel cell vehicle segment is the fastest growing one in the market. Fuel cell vehicles can refuel in minutes, analogous to conventional vehicles, curtailing downtime for businesses such as delivery services. For covering a long haul, hydrogen fuel cells offer a satisfactory solution by providing the corresponding range and refueling times to diesel trucks. Cargo operations can take place efficiently, as FCVs can maintain the full load-carrying capacity of traditional vehicles. FCVs emit only water vapor, bringing about cleaner air in urban areas and integrating with stricter emission standards. Greenhouse gas emissions related to transportation can be reduced to a greater extent as FCVs use hydrogen to function.
The transportation segment is dominating the market. It is due to transportation that the movement of goods is possible, which allows businesses to increase production and sales to contact more customers and accomplish larger orders. When the transportation infrastructure is advanced, trade is supported, and new jobs are created. Because of this, the economy gets closer to growth. The better the road conditions, the better the efficiency of businesses to access markets and resources, particularly in remote or underserved areas. The customers, hence, receive their orders on time and safely. CVs directly or indirectly support several industries, including agriculture, manufacturing, retail, and construction, as the materials required by them reach them via transport. Transportation technology is constantly changing, such as the advancements like autonomous vehicles and improved logistics systems. This can further augment commercial vehicle operations and prevail in the field of transportation.
The logistics segment is the fastest growing one in the market. Technological advances in logistics, like Telematics systems, deliver real-time data on vehicle location, fuel consumption, behavior of driver behavior, and maintenance needs. AI and machine learning are utilized to foresee delivery times, boost warehouse operations, and improve overall supply chain management. Cloud-based systems allow better collaboration and interaction between different parts of the supply chain. Additionally, governments are heavily investing in charging infrastructure and other logistics-related infrastructure. The technological progress and aid from government incentives are boosting the need for commercial vehicles.
The U.S. commercial vehicles market is highly competitive, with leading automotive companies such as General Motors, Ford Motor Company, PACCAR Inc., Navistar, Inc., Nikola Corporation, Workhorse Group, UPS Inc., FedEx Corp., XPO Logistics, and J.B. Hunt Transport Services Inc. holding the highest market share. Emerging vehicle-producing firms also play a crucial role by fostering a dynamic and evolving competitive landscape. The market is dominated by several vehicle-producing companies renowned for their significant contributions to automotive research and development. Based on recent data, the top three leading companies are:
General Motors Company is an automobile manufacturing company. The company manufactures, designs, and sells cars, SUVs, crossovers, trucks, and automobile parts. It also offers automotive financing services through its subsidiary, General Motors Financial Company. The company markets cars and trucks to commercial fleet customers, daily rental car companies, leasing companies, and governments directly or through a network of dealers. General Motors operates across North America, Asia Pacific, the Middle East and Africa, and South America.
The yearly revenue of General Motors Company was positioned at $187,442,000 in 2024.
Ford is an automotive manufacturer. The main activities of the company include the production and sale of a wide range of vehicles, including trucks, electric vehicles, commercial vans, cars, and luxury vehicles. It functions transmission plants, assembly plants, casting plants, metal stamping plants, engine plants, other component plants, assembly facilities, manufacturing plants, and more. Ford and Lincoln are the brands under which the company markets its products. It works for both individual and commercial customers. The company offices are available across South America, the Middle East, Europe, North America, Africa, and Asia Pacific. The yearly revenue of Ford was US$ 184,992,000 in 2024.
PACCAR Inc. is an automobile company that designs, manufactures, sells, distributes, and distributes light, medium, and heavy vehicles. The company offers products that include commercial trucks, advanced diesel engines, aftermarket parts for trucks, industrial winches, and related commercial vehicles. It also runs financial services, including finance, insurance, and leasing of products and services. Its manufacturing plants and parts distribution centers are accessible in the US, Canada, Europe, Australia, Mexico, and Central and South America.
The yearly revenue of PACCAR Inc. stood at $33,663,800 in 2024.
| Segments | Shares (%) |
| Gasoline | 35% |
| Diesel | 35% |
| HEV/PHEV | 11% |
| Battery Electric Vehicle (BEV) | 15% |
| Fuel Cell | 3% |
| LPG/Natural Gas | 2% |
| Segments | Shares (%) |
| Light Commercial Vehicles (LCVs) | 55% |
| Heavy Commercial Vehicles (HCVs) | 44% |
| Segments | Shares (%) |
| Industrial | 40% |
| Transportation | 45% |
| Others | 14% |
| Segments | Shares (%) |
| IC Engine | 80% |
| Electric Vehicle | 18% |
Published by Ajit Bansod
