The heavy-duty truck market will be stable in 2024, and new energy vehicles may become the key to increasing market share

In 2024, the overall market structure of heavy-duty trucks remained stable, among which Sinotruk's cumulative share climbed to 27% throughout the year, achieving steady growth. In the market segment, Jiefang and Sinotruk's cumulative shares in the natural gas heavy-duty truck field reached 34% and 25% respectively, ranking first and second in the industry. New energy heavy-duty trucks achieved significant growth in 2024, but their distribution pattern is still relatively scattered, and there is no leading company with a share of more than 20% this year.