What Is The Current and Historic Market Size Analysis Of The Service Trucks Market?
The service trucks market has seen considerable growth due to a variety of factors.
• The market size of service trucks has seen a robust expansion in the recent past. An escalation from $35.83 billion in 2024 to $38.99 billion in 2025 is expected with a compound annual growth rate (CAGR) of 8.8%.
The historic growth can be credited to factors such as the burgeoning construction businesses, the uprising in mining and agriculture sectors, amplified demand for field service functions, urbanization upswing, and the emergence of emergency roadside assistance services.
What Is The Forecast For The Service Trucks Market Size?
The service trucks market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations point to the market size of service trucks experiencing a significant surge in the coming years. The expected growth is set to reach $53.95 billion in 2029 with a compound annual growth rate (CAGR) of 8.5%.
Such growth in the projected period can be credited to the increased need for on-site maintenance, heightened demand for construction equipment, expansion in logistics and supply chain, increased insurance rates, and evolving trade policies. Noteworthy developments predicted within this time frame involve technological progress, the introduction of autonomous technologies, the incorporation of augmented reality, the usage of digital platforms, and the assimilation of AI.
What Are The Essential Drivers Behind The Growth Of The Service Trucks Market?
The growth of the service trucks market is expected to be propelled by the expanding construction industry. This sector, responsible for planning, designing, and constructing infrastructures and buildings like residential, commercial, and industrial projects, is expanding due to factors like urbanization, population surge, infrastructure evolution, government funding, and advanced building technologies. In this industry, service trucks are crucial for providing on-site maintenance and repairs, transportation of tools and equipment, emergency assistance, and managing routine servicing for construction vehicles and machinery, hence ensuring uninterrupted operations and reducing downtime. For example, the US Census Bureau, an agency of the US government, reported in July 2024 that the value of construction activities surged from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Therefore, it's clear that the rising construction industry is the driving force behind the growth of the service trucks market.
How Is The Global Service Trucks Market Divided Into Key Segments?
The service trucksmarket covered in this report is segmented –
1) By Product: Utility Trucks, Mechanic Trucks, Mobile Service Trucks, Fuel And Lube Trucks, Crane Trucks, Other Products,
2) By Fuel: Internal Combustion Engine (ICE), Electric
3) By End User Industry: Construction, Government And Public Utilities, Mining, Agriculture, Transportation And Logistics, Emergency Services, Other End User Industries
Subsegments:
1) By Utility Trucks: Bucket Trucks, Line Maintenance Trucks, Tow Trucks, Service and Repair Trucks
2) By Mechanic Trucks: On-Site Repair Trucks, Maintenance Trucks, Tool Trucks, Welding Service Trucks
3) By Mobile Service Trucks: Emergency Response Service Trucks, Mobile Tire Service Trucks, Mobile Battery Service Trucks, Mobile Detailing Trucks
4) By Fuel and Lube Trucks: Fuel Delivery Trucks, Lube Service Trucks, Oil Change Trucks, Multi-Service Fuel and Lube Trucks
5) By Crane Trucks: Telescopic Crane Trucks, Knuckle Boom Crane Trucks, Articulated Crane Trucks, Loader Crane Trucks
6) By Other Products: Refrigerated Service Trucks, Custom Service Trucks, Flatbed Trucks, Cargo Vans
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What Trends Are Shaping The Service Trucks Market?
Key companies in the service trucks industry are focusing on the development of innovative products, like EV Star trucks, to expand the prowess and efficacy of their vehicle offerings, keeping up with the increasing demand for electric and eco-friendly means of transport. The EV Star trucks are electrically-powered service vehicles created to provide zero-emission, eco-friendly transportation solutions for commercial use. In April 2024, GreenPower Motor Company Inc., an electric bus manufacturer based in Canada, introduced the GreenPower's EV Star Utility Truck, a fresh utility vehicle curated for business fleet use. The truck rolls out with a sturdy electric engine, which ensures zero emissions, leading to cleaner city surroundings. The EV Star Utility Truck comes with cutting-edge telematics and connective features, granting fleet managers the ability to keep an eye on vehicle operation and streamline routes effectively. It also houses a roomy cargo area designed for versatile usage, accommodating a wide range of equipment and goods.
Who Are the Key Players In The Service Trucks Market?
Major companies operating in the service trucks market are:
• Ford Motor Company
• Tata Motors Limited
• Paccar Inc.
• Dongfeng Motor Corporation
• Navistar International Corporation
• Altec Industries Inc.
• Knapheide Manufacturing Company
• Scelzi Enterprises Inc.
• Dakota Bodies Inc.
• General Truck Body Manufacturing Company
• Maintainer Corporation of Iowa Inc.
• ORH Truck Solutions
• Isuzu Commercial Vehicles
• Mega Corporation
• Duramag LLC
• A&H Equipment
• Public Service Truck Renting
• Jacon Technologies
• JOMAC LTD
• STG Global
• AES Equipment Solutions
• International Trucks
• Plantman Equipment
• Ryder System Inc.
What Are The Regional Insights Into The Service Trucks Market?
Asia-Pacific was the largest region in the service trucks market in 2024. The regions covered in the service trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
