Propulsion Segment Analysis: Internal Combustion Engine (ICE) (Largest Segment) vs Battery Electric Vehicle (BEV) (Fastest-Growing Segment)

Holding the largest share of the trucks market, internal combustion engine (ICE) segment accounted for 91.3% in 2026, supported by its established infrastructure, widespread availability of fueling networks, and proven performance across commercial transportation applications. ICE-powered trucks continue to be preferred for long-distance hauling and heavy-duty operations due to their operational reliability, higher energy density of fuels, and familiarity among fleet operators. The segment also benefits from the existing manufacturing ecosystem and service networks that enable easier maintenance and deployment, reinforcing its dominant position in the market.

The battery electric vehicle (BEV) segment is witnessing rapid expansion as the trucking industry increasingly focuses on reducing emissions and improving energy efficiency. Growing investments in electrification, advancements in battery technology, and rising demand for sustainable transportation solutions are encouraging the adoption of electric trucks, particularly for urban delivery, short-haul logistics, and applications where charging infrastructure is more accessible. The transition toward cleaner mobility solutions and the need to comply with environmental objectives are expected to support the increasing adoption of BEV trucks.

Application Segment Analysis: Logistics & Transportation (Largest Segment) vs Construction & Infrastructure (Fastest-Growing Segment)

In the trucks market, logistics & transportation segment dominated with a 47.7% share in 2026, driven by the essential role of trucks in freight movement, supply chain operations, and last-mile delivery activities. The continuous expansion of e-commerce, increasing demand for efficient goods distribution, and the need for reliable commercial vehicles across regional and long-distance routes have strengthened the segment’s position. Additionally, logistics operators rely on trucks for their flexibility and ability to handle diverse cargo requirements, supporting sustained demand within this application area.

The construction & infrastructure segment is expected to experience strong growth due to increasing infrastructure development activities and the rising need for efficient material transportation. Trucks play a crucial role in moving construction materials, heavy equipment, and aggregates across project sites, making them essential for large-scale development initiatives. Furthermore, growing urbanization and investments in transportation, commercial, and industrial infrastructure are encouraging higher utilization of trucks within construction-related operations.

Truck Segment Analysis: Heavy Duty (Largest & Fastest-Growing Segment)

The trucks market was led by the heavy duty segment in 2026, which also represented the fastest-growing segment due to its critical importance in freight transportation, construction activities, and industrial applications. Heavy-duty trucks are widely utilized for carrying large payloads over extended distances, making them essential for sectors requiring high performance and durability. Increasing demand for efficient logistics networks, infrastructure expansion, and the movement of bulk goods continues to support the segment’s strong market position. Additionally, advancements in vehicle technology and improvements in fuel efficiency are further enhancing the adoption of heavy-duty trucks across commercial applications.