AUTOMOTIVE
Heavy Duty and Trucks
World's Most Productive Companies
Strategic Outlook for Heavy Duty and Truck Manufacturers
The Heavy Duty and Trucks Peer Group comprises global manufacturers specializing in commercial and specialty vehicles, including heavy-duty trucks, medium-duty trucks, buses, vocational vehicles, and, for some, defense or access equipment. They operate capital-intensive, engineering-led businesses with multiregional manufacturing footprints and dealer and service networks, relying on long-lived installed bases for parts and aftermarket revenue.
Over the last six years, these companies have all faced semiconductor shortages, volatile energy and diesel costs following the Ukraine war, freight cycle swings, and tighter EU and U.S. emissions rules that have accelerated zero-emission investment.
In 2024, softer freight demand, new EU and U.S. emissions rules, sharply lower battery prices, continuing energy volatility, and intensifying global competition impacted productivity across the peer group.
Top 100 World's Most Productive Companies - Heavy Duty and Trucks
Productivity Snapshot
The companies experienced a similar productivity trend to many other industries and peer groups: a surge in productivity from 2020 to 2023, followed by a regression to declining productivity in 2023 and 2024.
- Productivity in the sector increased by 21.1% over the last six years. This segment, like the Automotive Industry generally, performed well above the average for manufacturers represented in the IPI, but has returned to stagnation and regression over the last two years.
- All of these companies had negative productivity growth in 2023 and 2024.
- 2024 Productivity declined an average of 6.7% across these companies.
- Iveco Group NV earned its position within the LNS 2025 World’s Most Productive Companies by growing productivity 24% more than the average of its peers/competitors over the last six years. Iveco outperformed its peers in 2024 by controlling fixed cost absorption, aligning production more closely with demand, and selectively growing high-throughput segments (such as buses) in a weak volume environment.
- Volvo AB earned its position within the LNS 2025 World’s Most Productive Companies by growing productivity 21% more than the average of its peers/competitors over the last six years. Volvo AB outperformed peers by deploying automation, simulation tools, modular platforms, process standardization, uptime improvements, and capacity optimization across its global operations.
