Global and China Heavy Truck Industry Report, 2021-2027
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From 2016 to 2020, China’s heavy truck sales surged from 728,000 units to 1,617,000 units, hitting new records for the consecutive four years. In 2021, a combination of factors such as sluggish freight market and demand overdraft led to an annualized 14.1% slump in the heavy truck sales to 1.39 million units, a figure projected to be around 1.2 million in 2022. It is conceivable that China’s heavy truck ownership will reach 11.7 million units in 2025. 


First, the stagnating freight market and the increasing unbalance between supply and demand have brought about slowing demand for heavy trucks since April 2021, and plus a range of other factors like transport overcapacity, falling freight rates, and insufficient construction of infrastructure projects, led to less-than-expected orders from heavy truck end users.

Second, the “crazy growth” of heavy truck market in 2020 overdrew part of demand in 2021. The full implementation of China Phase VI Emission Standards kicked companies into high gear to produce China V models from early 2021, and dealers across the country also went all out to stock up, which moved up the release time of the end demand and caused the plummeting demand for heavy trucks in the second half of 2021.

Third, users’ doubts about the reliability and fuel adaptability of China VI heavy trucks with high price and high use cost slashed the rigid demand. The successive issuance of policies for controlling China V diesel vehicles in some regions made it hard to digest the China V vehicle inventory. 

In 2022, the demand for heavy trucks will show a trend of opening low but going up and the market will enter the phase of stock competition, thanks to the Winter Olympics and economic recovery cycle among other factors. First, the resumption of infrastructure projects will create opportunities for the construction vehicle market; second, the goal of “double carbon” (carbon peaking and carbon neutrality) will spur the new energy vehicle market; third, the end of phase-out of China III diesel vehicles and the restriction on China IV ones will leave the scope for replacement and update; fourth, people's livelihood security and specialized transport will bring opportunities to market segments.

Sales of China VI tractors may surge.

In 2021, China sold a total of 1.39 million heavy trucks, including about 250,000 China VI heavy trucks, or 18% of the total, 4 percentage points higher than in 2020 (14%). In 2021, the first year to implement the China Phase VI Emission Standards, China VI diesel heavy trucks however shared lower than 1/5. In the future, as the restriction on China V and below vehicles become stricter, the sales of China VI heavy trucks will sustain growth, of which the sales of tractors may soar. 

In 2018, China finalized China VI standards that will apply to new heavy-duty diesel vehicles nationwide in two stages. The first stage, China VI-a, is largely equivalent to Euro VI and applied to gas engines in July 2019, urban HDVs in July 2020, and all new HDVs in July 2021. The second stage, China VI-b, adds requirements such as anti-tampering monitoring and remote on-board diagnostics data reporting that are expected to enhance real-world emissions compliance. China VI-b will apply to gas engines nationwide starting in January 2021 and all new HDVs in July 2023.


The intelligent connected heavy trucks will be a megatrend.

Intelligent connected vehicles are taken as one of the key industrial growth drivers in the future, according to the Action Plan for the Development of the Intelligent Connected Vehicle (ICV) Industry, a policy issued by the Ministry of Industry and Information Technology (MIIT) in 2018. The Intelligent Connected Vehicle Technology Roadmap 2.0 released by the National Innovation Center of Intelligent and Connected Vehicles in 2020, indicates that: in 2025, the sales of ICVs at levels of PA (partial automation) and CA (conditional automation) will make up more than 50% of the total. In 2021, the MIIT set up an Intelligent Connected Vehicle Promotion Group to carry out pilot projects of urban and intelligent connected vehicles.

Intelligent transportation has been as important as a national strategy, and the intelligent connected heavy trucks have also become a development trend, so to speak. In August 2018, Beijing announced a regulation: China V and above diesel heavy trucks registered in Beijing must be connected to Beijing Municipal Ecology and Environment Bureau before December 31, 2021. National strategies and transportation policies will favor the wider adoption of intelligent connected heavy trucks which may be a new sales driver in 2022.

According to incomplete statistics, several autonomous heavy truck solution providers at home and abroad have closed a total of at least 16 funding rounds in the most recent year (August 2020 to August 2021). Examples include PlusAI and Inceptio Technology, two Chinese firms which have raised over USD800 million in all in their recent several funding rounds.


The sales of new energy heavy trucks may enjoy a big growth spurt.

As China works towards the “double carbon” goal, energy saving and emission reduction will be the main theme of the future industrial development. In the first eleven months of 2021, the sales of new energy heavy trucks totaled 7,442 units, a like-on-like spurt of 222.4%, gathering momentum. Wherein, 6,840 units, or 91.91% of the total new energy heavy truck sales were electric heavy trucks, up by 201% compared with the same period of the previous year. It can be seen that electric heavy trucks were the major contributor to the rapid growth of new energy heavy trucks in 2021.

Noticeably, in late December, the Ministry of Finance released a notice on another 30% reduction in new energy vehicle purchase subsidies and confirmed that the new energy vehicle purchase subsidy policy will be terminated on December 31, 2022, that is, vehicles registered and licensed after December 31, 2022 will not be subsidized. This regulation may trigger a big upsurge in sales of new energy heavy trucks in 2022, especially port logistics and urban special vehicles.

Global and China Heavy Truck Industry Report, 2021-2027 highlights the following:
20120114.gifChina heavy truck industry (definition and classification, development trends, technology, industry standards, etc.);
20120114.gifChina heavy truck market size (ownership, production, sales, import and export, competitive landscape, etc.);
20120114.gifMarket segments (the market size of complete and incomplete heavy trucks and semi-tractors, competitive landscape, development trends, etc.);
20120114.gifRelevant industry chain (industry chain, upstream raw materials, downstream investment and real estate development, etc.);
20120114.gif15 heavy truck companies including FAW Jiefang, Dongfeng Group, Sinotruk, Foton Motor, Shaanxi Automobile Group, JAC, Hualing Automobile, Qingling Motors, Dayun Automobile, Beiben Truck, SAIC Iveco Hongyan, Tri-ring Special Vehicle, XCMG Automobile, Feidie Automobile and Hanma Technology Group (profile, operation, revenue structure, heavy truck business, development strategy, etc.).

1. Overview of Heavy Truck Industry
1.1 Definition and Classification
1.2 Technology Introduction
1.3 Emission Standards
1.4 Product Trends
1.5 Self-driving and Telematics
1.5.1 Self-driving Truck
1.5.2 Truck Telematics
1.5.3 The Autonomous Trunk Logistics Market Will Be Worth Nearly RMB1 Trillion in 2030
1.6 Hydrogen Fuel Cell Heavy Truck
1.6.1 Key Drivers for Popularity
1.6.2 Market Updates
1.6.3 Important Issues

2. Overall Heavy Truck Market
2.1 Global Zero-emission Heavy-Duty Trucks
2.2 Ownership
2.3 Output and Sales
2.3.1 Output
2.3.2 Sales
2.4 Market Structure
2.5 Competitive Landscape
2.6 Natural Gas Heavy Truck
2.7 High-end Heavy Truck
2.8 Trends
2.9 Export

3.Heavy Truck Market Segments
3.1 Complete Heavy Truck
3.1.1 Output and Sales
3.1.2 Import & Export
3.1.3 Competitive Landscape
3.2 Incomplete Heavy Truck
3.2.1 Output and Sales
3.2.2 Competitive Landscape
3.3 Semi-trailer Tractor
3.3.1 Output and Sales
3.3.2 Import & Export
3.3.3 Competitive Landscape
3.3.4 Market Segments

4. Heavy Truck Industry Chain
4.1 Overview
4.2 Key Components
4.2.1 Cost Structure
4.2.2 Supporting
4.3 Raw Materials Market
4.3.1 Steel Market
4.3.2 Rubber Market
4.4 Downstream Market
4.4.1 Infrastructure Construction
4.4.2 Property Development
4.4.3 Highway Freight

5. Key Companies
5.1 FAW Jiefang Automotive Company, Ltd.
5.1.1 Profile
5.1.2 Sales
5.1.3 Launch of New Products
5.2 China National Heavy Duty Truck Group Co., Ltd. (SINOTRUK)
5.2.1 Profile
5.2.2 Operation
5.2.3 Heavy Truck Business
5.2.4 Autonomous Driving
5.3 Dongfeng Motor Corporation
5.3.1 Profile
5.3.2 Operation
5.3.3 Revenue Structure
5.3.4 Output and Sales
5.3.5 R&D Expenses
5.3.6 Autonomous driving
5.4 Beiqi Foton Motor Co., Ltd.
5.4.1 Profile
5.4.2 Financial Situation
5.4.3 Revenue Structure
5.4.4 Output and Sales
5.4.5 New Energy Commercial Vehicle
5.4.6 Production Capacity
5.4.7 R&D Expenses
5.4.8 Autonomous Driving
5.5 Shaanxi Automobile Group Co., Ltd.
5.5.1 Profile
5.5.2 Main Products
5.5.3 Heavy Truck Business
5.6 Anhui Jianghuai Automobile Co., Ltd.
5.6.1 Profile
5.6.2 Heavy Truck Business Operation
5.7 Anhui Hualing Automobile Co., Ltd.
5.7.1 Profile
5.7.2 Operation
5.7.3 Heavy Truck Business
5.8 Qingling Motors (Group) Co., Ltd.
5.8.1 Profile
5.8.2 Operation
5.8.3 Truck Business
5.8.4 Connected Vehicle
5.9 Chengdu Dayun Automobile Manufacturing Co., Ltd.
5.9.1 Profile
5.9.2 Heavy Truck Business
5.10 BEIBEN Trucks Group Co., Ltd.
5.10.1 Profile
5.10.2 Heavy Truck Business
5.11 SAIC-IVECO Hongyan Commercial Vehicle Co., Ltd.
5.11.1 Profile
5.11.2 Heavy Truck Business
5.12 Hubei Tri-ring Special Vehicle Co., Ltd.
5.12.1 Profile
5.12.2 Heavy Truck Business
5.12.3 Launch of High-end Intelligent Heavy Truck
5.13 Xugong Automobile Manufacturing Co., Ltd.
5.13.1 Profile
5.13.2 Heavy Truck Business
5.14 Zhejiang Feidie Automobile Manufacturing Co., Ltd.
5.14.1 Profile
5.14.2 Heavy Truck Business
5.15 Hanma Technology
5.15.1 Profile
5.15.2 Operation
5.15.3 Truck Business
5.15.4 Output and Sales
Classification of Heavy Truck Industry
Technology Introduction of Key Heavy Truck Manufacturers in China
Nationwide Emission Standards for Heavy-Duty Diesel and Gasoline Vehicles
Advanced Implementation of Heavy-Duty Emission Standards in Sub-National Regions
Emission Standards for Heavy-Duty Engines
Emission limits for WNTE test in China VI
PEMS testing requirements
China PEMS emission limits for diesel
Emission Durability Requirements
Autonomous Heavy Truck Development of Heavy Truck Companies in China
Issuance of Autonomous Heavy Truck Trial Operation Licenses
Policies and Regulations on Commercial Vehicle Telematics, 2007-2021
Survey on Truck Telematics at Home and Abroad
Ownership of Heavy Trucks for Trunk Logistics in China, 2021E-2030E
Potential Economic Benefits and Market Size of Autonomous Trunk Logistics in China, 2021E-2030E
Fuel Cell Vehicle Sales in China, 2018-2020
Subsidy Snapshot for Related Vehicle Types
2020 vs 2021 comparison for vehicle models in the NEV recommended catalogue
Vehicle models in 2021 NEV recommended catalogue
Application Scenarios and Player Overview
Economic competitiveness provided by the subsidies
Global Heavy-Duty Trucks Market, by Type 2019-2026(Million USD)
Governments with targets toward phasing out sales of internal combustion engine trucks by a certain date
CO2 emissions and final energy consumption in transport in the Announced Pledges and Net Zero Emissions by 2050 scenarios
Tracking progress towards 2030 milestones in the transport sector by Scenario
Truck makers announce close to half of their sales to be ZEVs by 2030
China's Heavy Truck Ownership, 2002-2025E
China's Heavy Truck Output, 2013-2027E
China's Heavy Truck Sales Volume, 2002-2021
China's Heavy Truck Sales Volume, 2022-2027E
Sales of Heavy Truck Manufacturers (Top 10) in China, 2019-2020
Production of Heavy Truck Manufacturers (Top 10) in China, 2019-2020
Monthly Sales of Heavy Natural Gas Trucks in China, 2019-2021
High-end Heavy Truck Products Launched by Enterprises in China
New Energy Heavy Truck Market Structure, 2017-2030E
Penetration of Telematics, 2016-2020
Heavy Truck Sales Structure in China by Price, 2013-2025E
China's Complete Heavy Truck Output & Sale Volume, 2018-2021
China's Complete Heavy Truck Output & Sale Volume by Enterprises, Jan.-Nov., 2021
China's Complete Heavy Truck Output & Sale Volume by Enterprises, 2020
China's Complete Heavy Truck Output & Sale Volume by Enterprises, 2019
China's Complete Heavy Truck Output & Sale Volume by Enterprises, 2018
China's Incomplete Heavy Truck Output & Sale Volume, 2018-2021
China's Incomplete Heavy Truck Output & Sale Volume by Enterprises, 2021(1-11)
China's Incomplete Heavy Truck Output & Sale Volume by Enterprises, 2020
China's Incomplete Heavy Truck Output & Sale Volume by Enterprises, 2019
China's Incomplete Heavy Truck Output & Sale Volume by Enterprises, 2018
China's Semi-trailer Tractor Output & Sale Volume, 2018-2021
China's Semi-trailer Tractor Output & Sale Volume by Enterprises, 2021(1-11)
China's Semi-trailer Tractor Output & Sale Volume by Enterprises, 2020
China's Semi-trailer Tractor Output & Sale Volume by Enterprises, 2019
China's Semi-trailer Tractor Output & Sale Volume by Enterprises, 2018
Output and Sales Volume of Semi-trailer Towing Vehicles (≤25 Tonnage) in China, 2018-2021
Output and Sales Volume of Semi-trailer Towing Vehicles (25-40 Tonnage) in China, 2018-2021
Output and Sales Volume of Semi-trailer Towing Vehicles (>40 Tonnage) in China, 2018-2021
Automotive Industry Chain
Cost Structure of Heavy Truck Industry
Transmission Supply of Major Heavy Truck Manufacturers in China
China's Galvanized Sheet (Strip) Output and Sales Volume, 2016-2021
China's (Shanghai) Galvanized Coil Price, 2011-2021
China's Cold-rolled Thin Sheet Weekly Output, 2016-2021
China's (Shanghai) Cold-rolled Coil Price, 2015-2021
China's Natural Rubber Spot and Future Price, 2011-2021
China Urban Fixed Asset Investment, 2021
China Fixed Asset Investment Annual Growth, 2017-2021
China's Investment in Real Estate Development, 2010-2021
China's New Housing Start Area and Sales Area, 2005-2020
China's Highway Freight Volume and Turnover, 2005-2020
Financial Indicators of FAW Jiefang, 2018-2021
Revenue Structure of FAW Jiefang by Business, 2019-2020
Revenue Structure of FAW Jiefang by Region, 2019-2020
Products of FAW Jiefang
Main Truck Manufacturing Bases of FAW Group
Commercial Vehicle Output and Sales of FAW Jiefang, 2019-2020
Sinotruk’s Revenue and Net Income, 2014-2021
Sinotruk’s Gross Margin, 2014-2021
Sinotruk’s Revenue Structure by Business, 2020
Sinotruk’s Heavy Truck Product Family Genealogy
Sinotruk’s Main Product Configuration
Sinotruk’s Truck Output and Sales Volume, 2016-2020
HOWO T5G Electric Truck
Financial Indicators of Dongfeng Motor, 2016-2021
Revenue Structure of Dongfeng Motor by Business, 2019-2020
Revenue Structure of Dongfeng Motor by Region, 2019-2020
Commercial Vehicle Output and Sales of Dongfeng Motor, 2017-2021
Capacity and Utilization Rate of Dongfeng Motor by Product, 2020
New Energy Vehicle Capacity and Utilization Rate of Dongfeng Motor, 2020
New Energy Vehicle Output and Sales Volume of Dongfeng Motor, 2017-2020
R&D Costs of Dongfeng Motor, 2014-2020
Dongfeng’s Autonomous Container Truck
Main Financial Indicators of Beiqi Foton Motor, 2016-2021
Revenue Structure of Beiqi Foton Motor by Business, 2019-2020
Revenue Structure of Beiqi Foton Motor by Region, 2019-2020
Bus Output and Sales of Beiqi Foton Motor by Type, 2019-2021
New Energy Bus Output and Sales of Beiqi Foton Motor, 2014-2020
Major Suppliers of New Energy Bus of Beiqi Foton Motor
New Energy Truck Output and Sales of Beiqi Foton Motor, 2016-2020
Beiqi Foton Motor Production Capacity Layout
R&D Costs of Beiqi Foton Motor, 2014-2020
Beiqi Foton Motor's Autonomous Vehicle
Main Heavy Trucks of Shaanxi Automobile Group
Shaanxi Automobile Group’s Heavy Truck Output and Sales Volume, 2018-2021
Anhui Jianghuai’s Heavy Truck Output and Sales Volume, 2018-2021
Anhui Hualing’s Heavy Truck Output and Sales Volume, 2018-2021
CAMC’s Products Series
Qingling Motors’ Revenue and Net Income, 2014-2021
Qingling Motors’ Gross Margin, 2013-2020
Qingling Motors’ Revenue Breakdown by Product, 2019-2020
Qingling Motors’ Sales Volume, 2015-2020
Qingling Motors’s Electric Vehicle Products
Qingling Motors’s Hydrogen Fuel Vehicle
Qingling Motors L3 Autonomous Logistics Vehicle
Chengdu Dayun’s Heavy Truck Output and Sales Volume, 2018-2021
BEIBEN Trucks’s Heavy Truck Output and Sales Volume, 2018-2021
SAIC-IVECO Hongyan’s Heavy Truck Output and Sales Volume, 2018-2021
Main Heavy Truck Products of Tri-Ring Special Vehicle
Hubei Tri-ring’s Heavy Truck Output and Sales Volume, 2018-2021
Xugong’s Heavy Truck Output and Sales Volume, 2018-2021
Zhejiang Feidie’s Heavy Truck Output and Sales Volume, 2018-2021
Hanma Technology’s Assets and Net Income, 2012-2020
Revenue Structure of Hanma Technology by Business, 2019-2020
Hanma Technology’s Products Series
Hanma Technology’s Truck Output and Sales Volume, 2019-2020
Hanma Technology’s Truck Sales at Home and Abroad, 2019-2020

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