China Truck Market 2024-2030
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China Truck Market 2024-2030

Last Updated:  Apr 25, 2025 | Study Period: 2024-2030

CHINA TRUCK MARKET

 

KEY FINDINGS

  1. The China Truck Market from 2024 to 2030 is poised for substantial growth, driven by infrastructural developments and increasing demand for efficient transportation solutions.
  2. Heavy investments in electrification and autonomous technologies mark a significant shift towards sustainable and technologically advanced trucking systems.
  3. Environmental regulations and sustainability initiatives are shaping the market landscape, prompting manufacturers to prioritise eco-friendly solutions.
  4. Market players are focusing on enhancing fuel efficiency, reducing emissions, and optimising logistics to meet evolving consumer demands.
  5. Challenges such as infrastructure limitations and supply chain disruptions necessitate innovative strategies to ensure smooth operations.
  6. The emergence of smart logistics solutions and digitalization is revolutionising traditional trucking practices, improving efficiency and transparency.
  7. Companies are exploring partnerships and collaborations to leverage expertise and resources, fostering innovation and market expansion.
  8. Rising urbanisation and e-commerce trends are driving demand for last-mile delivery solutions, spurring innovation in urban trucking.
  9. Global trade dynamics and geopolitical factors influence market trends, requiring adaptability and resilience from industry players.
  10. Overall, the China Truck Market in the coming years will witness dynamic transformations, characterised by technological advancements, sustainability imperatives, and strategic collaborations.
  11. In 2020, trucks occupied more than 90% of the vehicles sold in Commercial Vehicle segment
  12. After first 4 months in 2021, there was on an average 50% Y-o-Y growth in sales of light and heavy trucks
  13. OEMs are sourcing Components from Tier-1 suppliers to reduce investment on R&D
  14. Recent policy changes have led to a dramatic shift from Heavy-Duty trucks to tractors as the power unit of choice for logistics
  15. Commercial truck manufacturers are manufacturing their products based on the application and usage like Construction, Mining, and Logistics & commodities
  16. The market leaders in the trucks segment are Foton, Dongfeng and Sunstruck. Top 3 players accounted for 35% of the overall market volume.

 

CHINA TRUCK MARKET OVERVIEW

The Chinese truck market is expected to keep its positive momentum throughout 2024 and beyond, reaching a projected value of nearly half a trillion USD by 2030. This growth is fueled by several factors.

 

Firstly, China's ever-expanding economy continues to drive demand for goods, requiring a robust trucking sector to handle the increased freight movement.

 

Secondly, government policies promoting infrastructure development and urbanization will create new transportation routes and construction projects, further pushing truck sales.

 

Thirdly, the rise of e-commerce puts pressure on fast and efficient delivery networks, leading to a potential rise in lighter commercial vehicles.

 

However, the market won't be without challenges. Stricter emission regulations will push manufacturers to develop cleaner technologies like electric and hydrogen-powered trucks, impacting production costs.

 

Despite these hurdles, the electric truck segment in China is poised for significant growth due to government incentives and advancements in battery technology, making them more affordable and efficient.

 

Furthermore, the adoption of autonomous driving technologies, particularly truck platooning (automated convoys) promises to enhance efficiency and safety on highways, reducing fuel consumption and operational costs.

 

Competition within the market will also be a key factor. Established domestic players like BYD and Dongfeng will face pressure from foreign manufacturers entering the Chinese market with advanced technologies.

 

Overall, the Chinese truck market presents a dynamic landscape with both opportunities and challenges. The focus on sustainability, technological advancements, and infrastructure development will shape the industry's future in the coming years.

 

INTRODUCTION TO CHINA TRUCK MARKET

China Truck refers to a broad category of vehicles utilised primarily for the transportation of goods within China's vast territory. These trucks serve as the backbone of the country's logistics and supply chain infrastructure, facilitating the movement of goods across various industries and regions. China's diverse terrain and economic activities necessitate a wide range of truck types, each tailored to specific transportation needs.

 

The types of China Trucks encompass heavy-duty, medium-duty, and light-duty variants, catering to different payload capacities and usage scenarios. Heavy-duty trucks are commonly employed for long-haul transportation of heavy goods such as construction materials and machinery. Medium-duty trucks find applications in regional distribution and urban deliveries, offering versatility and manoeuvrability. Light-duty trucks serve as multipurpose vehicles for urban logistics, including parcel delivery and small-scale cargo transport.

 

Benefits of China Trucks include their pivotal role in supporting economic growth by facilitating trade and commerce. They provide efficient and reliable transportation solutions, enabling businesses to reach markets and customers effectively. Moreover, China Trucks contribute to employment generation and infrastructure development, fostering socio-economic progress. Additionally, these vehicles offer flexibility in adapting to diverse cargo types and transportation requirements, enhancing supply chain resilience.

 

However, China Trucks face several risks and challenges that impact their operations and market dynamics. Environmental concerns related to emissions and pollution pose regulatory compliance challenges, prompting the industry to invest in cleaner technologies. Moreover, fluctuations in fuel prices and availability can affect operational costs and profitability, necessitating fuel-efficient solutions and alternative fuel adoption.

 

Infrastructure limitations, including road conditions and transportation networks, present obstacles to efficient trucking operations, particularly in remote and rural areas. Additionally, market competition, both domestic and international, drives innovation and quality improvements but also intensifies pricing pressures and market saturation. Furthermore, the shortage of skilled drivers and workforce issues pose challenges to fleet management and operational efficiency, requiring investment in training and talent acquisition strategies.

 

In summary, China Trucks play a crucial role in driving economic activities and facilitating trade within China's vast geographical expanse. Despite their numerous benefits, these vehicles encounter risks and challenges ranging from regulatory compliance and environmental concerns to infrastructure limitations and market competition. Addressing these challenges requires concerted efforts from industry stakeholders, including policymakers, manufacturers, and logistics providers, to ensure sustainable and resilient transportation systems for China's future development.

 

In 2020, overall truck sales were record 4.6M units with an approximate growth rate of 40% in all of the segments. Light trucks alone accounted for 45% of the overall truck sales in the country and witnessed the highest growth rate compared to 2019.

 

Heavy duty trucks accounted for ~35% of the overall volume and witnessed about 38% Y-o-Y growth. Jiefang was the market leader in the heavy trucks segment with market share of ~23%.

 

CHINA TRUCK MARKET SIZE AND FORECAST

 

China truck market is estimated at $XX Billion in 2023.  It is estimated to grow at XX% CAGR in the period 2024-2030.

 

CHINA TRUCK MARKET TRENDS

  • Electrification Drive: The China Truck Market is witnessing a surge in electric vehicle adoption, driven by government incentives, environmental regulations, and advancements in battery technology.
  • Autonomous Technology Integration: Autonomous driving features are becoming increasingly prevalent in China's trucking industry, promising improved safety, efficiency, and driver comfort.
  • Smart Logistics Solutions: Companies are leveraging advanced telematics and IoT technologies to optimize route planning, reduce fuel consumption, and enhance overall fleet management efficiency.
  • Shift towards Sustainable Fuels: There's a growing emphasis on alternative fuels such as hydrogen and biofuels, aimed at reducing greenhouse gas emissions and achieving long-term environmental sustainability goals.
  • Digitalization and Connectivity: The integration of digital platforms and connectivity solutions enables real-time monitoring, predictive maintenance, and data-driven decision-making, enhancing operational efficiency and customer service.
  • Last-Mile Delivery Innovations: With the rise of e-commerce and urbanization, there's a focus on developing innovative last-mile delivery solutions, including electric vans and drones, to meet evolving consumer demands.
  • Rise of Mobility as a Service (MaaS): The concept of Mobility as a Service is gaining traction, offering integrated, on-demand transportation solutions that combine public transit, ride-sharing, and freight delivery services, reshaping the future of urban mobility in China.

 

CHINA TRUCK MARKETNEW PRODUCT DEVELOPMENT

  • Dongfeng:A traditional truck manufacturer, Dongfeng is investing heavily in electric truck development to stay competitive.
  • SAIC Iveco Hongyan:This joint venture between SAIC Motor Corporation Limited and Iveco Group is another key player developing electric trucks for the Chinese market.
  • Sinopec:China's largest state-owned oil and gas company, Sinopec is looking at hydrogen as a future fuel source and is developing hydrogen trucks.
  • FAW Jiefang:A major Chinese truck manufacturer, FAW Jiefang is exploring hydrogen fuel cell technology for long-haul trucks.
  • Isuzu Motors:A Japanese truck manufacturer, Isuzu Motors is partnering with Chinese companies to develop hydrogen trucks for the Chinese market.
  • Baidu:A Chinese tech giant, Baidu is a leader in autonomous vehicle development and is working on autonomous truck solutions.
  • TuSimple: An American self-driving truck startup, TuSimple is partnering with Chinese companies to develop and deploy autonomous trucks in China.

 

CHINA TRUCK MARKET SEGMENTATION

 

By Gross Vehicle Weight (GVW):

  • Light Trucks (GVW < 6 tonnes)
  • Medium Trucks (GVW 6-16 tonnes)
  • Heavy Trucks (GVW > 16 tonnes)

 

By Fuel Type:

  • Diesel Trucks
  • Gasoline Trucks 
  • Electric Trucks 
  • Hydrogen Trucks 

 

By Application:

  • Long-haul Trucks
  • Short-haul Trucks
  • Construction Trucks
  • Mining Trucks

 

By Level of Automation:

  • Manual Trucks
  • Semi-autonomous Trucks
  • Fully Autonomous Trucks

 

CHINA TRUCKMARKET DYNAMICS

Unlike 2020, the start of 2021 has shown a lot of promise to be the most selling year for trucks in the country. After the first 4 months of 2021, in the light trucks segment volumes have witnessed a growth of 49% for the same period in 2020. In 2021, the sales numbers of light trucks in the period were 814,000.

 

Second most popular segment in the country, heavy trucks have surpassed the growth rate of light trucks and the Y-o-Y for the period Jan-Apr has been ~57%. The sales volumes in the period are around 465,000.

 

However, most of the top ten players in the heavy-duty market witnessed a drop in sales in the month of April. After an early burst of heavy trucks, sales might move at a moderate pace for the rest of the year.

 

From January to April in 2021 the total sales volume of tractor trucks reached 366,000 units, up by 45% Y-o-Y. Beiben is the market leader in the segment as it witnessed a growth of 205% Y-o-Y, followed by Dongfeng.

 

The below chart shows the volume split of different types of trucks in China in 2020

 

infographic: China Truck Market , China Truck Market Size, China Truck Market Trends, China Truck Market Forecast, China Truck Market Risks, China Truck Market Report, China Truck Market Share

 

Apart from the domestic sales the exports have also been reaching new heights. Dongfeng’s commercial vehicle exports jumped by 30% in the Q1 of 2021. In Australian & New Zealand markets GWM’s light trucks have entered the top-10 sellers list with its GWM Power vehicle

 

CHINA TRUCK MARKETDEVELOPMENTS

CNHTC’s first pickup model VX7, particularly designed for the high-end market, will be launched by the end of 2023. The vehicle is powered by 2.0T gasoline powered engine and Shandean 8AT transmission gearbox and can achieve max power of 221 HP

 

In May 2021, SAIC Hengyang delivered 1,000 units of electric heavy-duty trucks to Tangshan to transport products from Tangshan Steel. SAIC Hengyang is powered by 282 kwh batteries made by CATL.

 

In February, Beibei officially deployed its first 100 kW hydrogen fuel cell vehicle in Baotou, Inner Mongolia. The vehicle is jointly developed by Beibei and Shanghai Jiao tong University.

 

The truck will be used for urban sanitization and the vehicle is able to cover 350km after complete refill of hydrogen In January 2021, Huawei and Trunk, Chinese autonomous truck start-up, entered into a partnership for the R&D and market promotion of the products related to smart port.

 

CHINA TRUCK MARKET POWERTRAIN TRENDS

The light trucks have 3.5T-8T GVW, vehicle length shorter than 7 meters, two axles, and with the engine power nearly 80-160 kW (the OEMs use the Japanese or Cummins engines on their Light commercial vehicles).The medium-duty trucks have 7.5T-12.0T GVW, vehicle length shorter than 13 meters, two to three axles, and with the engine power between 80-140kW.

 

The Heavy trucks have GVW above 14T, vehicle length longer than 13 meters, with more than three axles with the engine power up to 500HP (Many vehicles use the Cummins engines with higher engine power).

 

FAW J6MFOTON

AUMAN ETX Series

SHACMAN M3000SINOTRUK HOWO
Displacement (L)8.6L9.726L7.5L9.726L
Min power (hp)260250210260
Max horsepower320340300336
Emission standardChina 4, 5, 6China 5China 4, 5China 4
Transmission typeManualManualManualManual
Gears10F+2R(9F+1R)(9F+1R)(10F+2R)

 

CHINA TRUCK MARKET COMPETITIVE LANDSCAPE

Unlike the bus market in China, the truck market is more consolidated and there are about 15-16 major players. In terms of light trucks, the top 10 players accounted for ~90% of sales in 2021 and top 5 of them account for 62% of that.

 

Foton, Dongfeng and JAC are the top 3 players in the light trucks segment. These 3 cumulatively account for 42% of sales volume, with Foton being the market leader with XX% share.

 

In the heavy trucks segment the top 10 players account for ~99% of the overall volume. Out of which top 5 players alone account for ~88% of the sales.

 

FAW Jeifang, Sinotruck and Dongfeng are the market leaders in the heavy trucks segment. The top 3 players account for 66% of the sales volume and FAW Jeifang is the market leader with XX% share.

 

CHINA TRUCK MARKET COMPANY PROFILES

  1. Dongfeng
  2. FAW Jeifang
  3. BYD
  4. SAIC Iveco Hongyan
  5. Sinopec
  6. Baidu
  7. TuSimple
  8. Huawei
  9. Daimler Trucks
  10. Isuzu Motors

 

THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS

  1. How will electric truck adoption impact the market?
  2. What strategies are companies employing to address environmental concerns?
  3. How will autonomous technology affect trucking operations?
  4. What role will government policies play in shaping the market?
  5. What are the main challenges facing the China Truck market?
  6. How will the market respond to infrastructure developments?
  7. What innovations are driving efficiency improvements?
  8. How are companies addressing driver shortages?
  9. What impact will global trade dynamics have on the market?
  10. How are companies adapting to changing consumer demands?
  11. What opportunities exist for foreign companies in the Chinese market?
  12. How are companies integrating digital technologies into their operations?
  13. What are the main growth segments within the market?
  14. How will the market evolve in terms of vehicle size and capacity?
  15. What are the implications of supply chain disruptions on the market?
  16. How are companies navigating fluctuating fuel prices?
  17. What role does sustainability play in company strategies?
  18. How are companies differentiating their products and services?
  19. What are the key considerations for fleet management?
  20. How are companies addressing maintenance and repair challenges?
  21. What impact will electrification have on traditional truck manufacturers?
  22. How are companies leveraging data analytics for business insights?
  23. What are the main barriers to market entry for new players?
  24. How are companies managing regulatory compliance?
  25. What trends are shaping aftermarket services?
  26. How are companies mitigating cybersecurity risks?
  27. What impact will economic trends have on the market?
  28. How are companies adapting to changing consumer preferences?
  29. What are the implications of urbanization on trucking operations?
  30. How will market consolidation affect competition?
S NoTitles
1Market Segmentation
2Scope of the Report
3Research Methodology
4Executive Summary
5Introduction
6Average B-2-B Selling Price in Past 5 Years
7Insights from Industry Stakeholders
8Cost Breakdown of Product Components and Average Profit Margin
9Disruptive Innovation in the Industry
10Technological Innovations in China Truck Market 2024-2030
11Electric Propulsion Systems
12Autonomous Driving Technologies
13Telematics and Connectivity Solutions
14Advanced Safety Features
15Alternative Fuel Technologies
16Fleet Management Software
17Predictive Maintenance Systems
18Blockchain Applications in Logistics
19Artificial Intelligence for Route Optimization
20Environmental Impact Reduction Strategies
21New Product Development in the Past 12 Months
22Market Size, Dynamics, and Forecast by Gross Vehicle Weight (2024-2030)
23Market Size, Dynamics, and Forecast by Fuel Type (2024-2030)
24Market Size, Dynamics, and Forecast by Application (2024-2030)
25Market Size, Dynamics, and Forecast by Level of Automation (2024-2030)
26Competitive Landscape and Market Share Analysis
27Growth Strategy of Leading Players
28Market Share of Vendors (2023)
29Company Profiles
30Unmet Needs and Opportunities for New Suppliers
31Conclusion