USD
GBP 
CNY 
EUR 
INR 
JPY 
MYR 
ZAR 
KRW 
THB 
Global Light, Medium, and Heavy Commercial Vehicle Outlook, 2022
Plummeting Demand in China will Contribute to a Contraction in Medium- and Heavy-duty Truck Sales
10-May-2022
North America
Market Outlook
PCE5-01-00-00-00
AU02328-NA-MO_26523
$4,950.00
Special Price $3,712.50 save 25 %
All regions except for China (which contributes annual sales volumes averaging about 40%) witnessed growth in commercial vehicle sales in 2021, indicating a return to normalcy after a dismal 2020. Despite COVID-19 virus surges in some places, the overall sentiment for the year remained positive. Frost & Sullivan expects the global market to grow even further in 2022.
As economies continue to reopen, a resumption of infrastructure build-out and other construction activity will increase the demand for heavy-duty trucks, with double-digit growth anticipated in India, Latin America, and Association of Southeast Asian Nations countries.
Natural gas vehicles have seen a spike in demand in most regions. North America and Europe continued to generate strong demand, and in India demand went up as oil prices increased. China is the only exception, where sales declined largely due to high natural gas prices as well as a significant gain in electric truck volumes. Most truck manufacturers will have at least electric model on the road this year. Much of the demand will come from North America, with numerous launches and order fulfillments expected. Latin America will show the most promise among emerging markets.
Governments around the world are mandating advanced driver assistance systems in commercial vehicles. Manufacturers, meanwhile, are developing bundled solutions that manage all fleet requirements, from logistics and connectivity to service and maintenance, as a service.
Despite Frost & Sullivan’s optimism for the market, the Russo-Ukrainian war, the ongoing semiconductor shortage, rising inflation, and still-climbing oil prices are among the factors that could affect sales.
Key Issues Addressed
- The size of the global truck industry in 2021 and the segment split along with major OEMs in different regions?
- What is the growth expected in 2022 in terms of volumes and key drivers for growth in different regions?
- Projected penetration of key powertrain technologies across different regions?
- Top OEM performers in 2021 and their powertrain strategy in future across different regions?
- Key trends and activities in the field of connected, electric drivetrain and ADAS features in trucks?
Author: Marshall Martin
Top Commercial Vehicle Trends in 2021
Commercial Vehicle Industry Highlights
Market Forecast
Growth Rate
Technological Progress
Top Predictions for 2022
Why Is It Increasingly Difficult To Grow?
Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Truck Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Research Scope
Market Segmentation
Top 5 Global Economic Highlights of 2021
Top 5 Global Economic Predictions for 2022
Global GDP Growth
2022 Scenario Analysis—Quarterly Global Growth
2022 Scenario Analysis Assumptions
2022 Global GDP Growth Snapshot
Advanced Economy Predictions for 2022
Emerging Economy Predictions for 2022
Macroeconomic Predictions for 2022
Top 3 2022 Growth Opportunities by Region
2022 Regional Risks and Policy Direction
Market Forecast
Market Forecast by Region and Category
2021 LCV OEM Sales Performance
Powertrain Technology Forecast
Key OEMs’ Anticipated e-LCV Launches
Market Forecast
Market Forecast by Region and Category
2021 M&HD Truck OEM Sales Performance
Powertrain Technology Forecast
Key OEMs’ Anticipated e-M&HD Truck Launches
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Regional Snapshot
Segment Sales Forecast
Powertrain Technology Split
OEM Powertrain Technology Platforms
Telematics Penetration
Telematics Opportunity Assessment
Notable Telematics Partnerships
Notable Telematics Partnerships (continued)
Drivetrain Architecture Forecast
Electric Trucks by Drivetrain Architecture Type
Electric Drivetrain Technology Roadmap
ADAS Forecast
ADAS Supplier Preference
ADAS Technology Roadmap
Growth Opportunity 1—Emerging Markets
Growth Opportunity 1—Emerging Markets (continued)
Growth Opportunity 2—The EV Ecosystem
Growth Opportunity 2—The EV Ecosystem (continued)
Growth Opportunity 3—ADAS Safety Features
Growth Opportunity 3—ADAS Safety Features (continued)
Abbreviations
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- LCV Sales, Global, 2021–2022
- M&HD Truck Sales, Global, 2021–2022
- Estimated LCV and M&HD Truck Growth Rates, Selected Locations, 2022
- GDP Growth in Advanced, Emerging, and Developing Economies, Global, 2017–2022
- GDP Growth Scenario Analysis, Global, Q1 2019–Q4 2022
- Assumptions for Growth Scenarios, Global, 2022
- GDP Growth Rate, Select Economies, 2020–2022
- LCV Sales, Global, 2021–2022
- Pickup Sales Forecast, Global, 2021 and 2022
- Van and COE Truck Sales Forecast, Global, 2021 and 2022
- Top 20 LCV OEM Sales Performance, Global, 2021
- LCV Powertrain Technology Forecast, Global, 2022
- e-LCV Product Launch Timeline
- M&HD Truck Sales, Global, 2021–2022
- MD Truck Sales Forecast, Global, 2021 and 2022
- HD Truck Sales Forecast, Global, 2021 and 2022
- Top 17 M&HD Truck OEM Sales Performance, Global, 2021
- M&HD Truck Powertrain Technology Forecast, Global, 2022
- E-M&HD Product Launch Timeline
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, North America, 2021–2022
- Truck Segment Powertrain Technology Split, North America, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, Europe, 2021–2022
- Truck Segment Powertrain Technology Split, Europe, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, China, 2021–2022
- Truck Segment Powertrain Technology Split, China, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, India, 2021–2022
- Truck Segment Powertrain Technology Split, India, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, Latin America, 2021–2022
- Truck Segment Powertrain Technology Split, Latin America, 2021–2022
- Top 5 OEMs* in 2021
- Truck Segment Sales Forecast, ASEAN, 2021–2022
- Truck Segment Powertrain Technology Split, ASEAN, 2021–2022
- LCV Telematics Penetration, Selected Locations, 2022
- M&HD Truck Telematics Penetration, Selected Locations, 2022
- Truck Telematics Opportunities, Selected Locations, 2022
- M&HD Truck Electrification Architecture Forecast, North America and Europe, 2025 and 2030
- M&HD Level 1 and 2 ADAS Truck Sales, North America and Europe, 2021 and 2030
- Truck Market: Key Supplier Preference Analysis, Global, 2021
Speak directly with our analytics experts for tailored recommendations.
Recent related Automotive research
20 Aug 2026 | Global | Market Outlook
2026 Prediction of Global Electric Vehicle Market
Over 21.6 million units of light-duty electric vehicles (EVs) were sold worldwide in 2025, representing a 23.5% year-over-year (YoY) growth. Battery electric vehicles (BEVs) accounted for 66.8% of all EVs sold, while plug-in hybrid electric vehicles (PHEVs) accounted for 33.2%. The PHEV share declin...
19 Aug 2026 | Global | Frost Radar
Frost Radar™: Vehicle Threat Detection and Response Solutions, 2026
The proliferation of software-defined vehicles, centralized compute architectures, connected services, and over-the-air software updates is fundamentally transforming automotive cybersecurity from a product development activity to a continuous operational discipline. As connected vehicle ecosystems ...
17 Aug 2026 | Asia Pacific | Market Research
Electric Vehicle Market, India, 2025–2032
India’s electric vehicle (EV) market is expected to experience robust growth between 2025 and 2032, driven by supportive government policies, localization initiatives, technological advancements, and increasing consumer acceptance. The market transformation is being shaped by three key strategic i...
17 Aug 2026 | Asia Pacific | Market Research
Passenger Vehicle and Light Commercial Vehicle Aftermarket, APAC, 2024–2032
In this research service, Frost & Sullivan has assessed the automotive aftermarket in the Asia-Pacific (APAC) region, focusing on Australia, China, Indonesia, Japan, Malaysia, and Thailand.
The research service provides an aftermarket overview for 2025, covering automotive aftermarket perfor...
14 Aug 2026 | Global | Market Research
Alternate Powertrain Technologies Split in Passenger Vehicles by Region (2026–2030)
The global automotive industry is undergoing a profound transformation toward sustainable mobility, propelled by tightening emission regulations, rapid technological innovation, and shifting consumer expectations. This study evaluates the growth outlook for alternative powertrain technologies in pas...
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
Key Issues Addressed
- The size of the global truck industry in 2021 and the segment split along with major OEMs in different regions
- What is the growth expected in 2022 in terms of volumes and key drivers for growth in different regions
- Projected penetration of key powertrain technologies across different regions
- Top OEM performers in 2021 and their powertrain strategy in future across different regions
- Key trends and activities in the field of connected, electric drivetrain and ADAS features in trucks
Author: Marshall Martin
| Deliverable Type | Market Outlook |
|---|---|
| Author | Marshall Martin |
| Industries | Automotive |
| No Index | No |
| Is Prebook | No |
| List of Charts and Figures | LCV Sales, Global, 2021–2022~ M&HD Truck Sales, Global, 2021–2022~ Estimated LCV and M&HD Truck Growth Rates, Selected Locations, 2022~ GDP Growth in Advanced, Emerging, and Developing Economies, Global, 2017–2022~ GDP Growth Scenario Analysis, Global, Q1 2019–Q4 2022~ Assumptions for Growth Scenarios, Global, 2022~ GDP Growth Rate, Select Economies, 2020–2022~ LCV Sales, Global, 2021–2022~ Pickup Sales Forecast, Global, 2021 and 2022~ Van and COE Truck Sales Forecast, Global, 2021 and 2022~ Top 20 LCV OEM Sales Performance, Global, 2021~ LCV Powertrain Technology Forecast, Global, 2022~ e-LCV Product Launch Timeline~ M&HD Truck Sales, Global, 2021–2022~ MD Truck Sales Forecast, Global, 2021 and 2022~ HD Truck Sales Forecast, Global, 2021 and 2022~ Top 17 M&HD Truck OEM Sales Performance, Global, 2021~ M&HD Truck Powertrain Technology Forecast, Global, 2022~ E-M&HD Product Launch Timeline~ Top 5 OEMs* in 2021~ Truck Segment Sales Forecast, North America, 2021–2022~ Truck Segment Powertrain Technology Split, North America, 2021–2022~ Top 5 OEMs* in 2021~ Truck Segment Sales Forecast, Europe, 2021–2022~ Truck Segment Powertrain Technology Split, Europe, 2021–2022~ Top 5 OEMs* in 2021~ Truck Segment Sales Forecast, China, 2021–2022~ Truck Segment Powertrain Technology Split, China, 2021–2022~ Top 5 OEMs* in 2021~ Truck Segment Sales Forecast, India, 2021–2022~ Truck Segment Powertrain Technology Split, India, 2021–2022~ Top 5 OEMs* in 2021~ Truck Segment Sales Forecast, Latin America, 2021–2022~ Truck Segment Powertrain Technology Split, Latin America, 2021–2022~ Top 5 OEMs* in 2021~ Truck Segment Sales Forecast, ASEAN, 2021–2022~ Truck Segment Powertrain Technology Split, ASEAN, 2021–2022~ LCV Telematics Penetration, Selected Locations, 2022~ M&HD Truck Telematics Penetration, Selected Locations, 2022~ Truck Telematics Opportunities, Selected Locations, 2022~ M&HD Truck Electrification Architecture Forecast, North America and Europe, 2025 and 2030~ M&HD Level 1 and 2 ADAS Truck Sales, North America and Europe, 2021 and 2030~ Truck Market: Key Supplier Preference Analysis, Global, 2021~ |
| Podcast | No |
| WIP Number | PCE5-01-00-00-00 |