Service Lorry Market size is estimated to be USD 5.2 Billion in 2024 and is expected to reach USD 8.4 Billion by 2033 at a CAGR of 5.5% from 2026 to 2033.
The global service lorry market was valued at approximately USD 15.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030. The market’s expansion is largely driven by increasing demand for mobile repair and maintenance services across various industries, including construction, logistics, and automotive. The service lorry market is anticipated to experience steady growth due to the growing adoption of advanced service vehicles that integrate modern technologies such as telematics and GPS systems for enhanced service delivery. In terms of market share, North America dominated in 2022 with a significant contribution of around 38% of the global market revenue. This is attributed to the high demand for service lorries in industries like oil and gas, construction, and emergency services, particularly in the United States and Canada. Europe followed closely, accounting for approximately 28% of the global market share, while the Asia Pacific region is expected to witness the fastest growth in the forecast period, driven by the rapid industrialization and infrastructure development in countries like China and India.
Regionally, North America leads the service lorry market, contributing the largest revenue share in 2022. This is primarily due to the substantial presence of the construction and mining industries in the region. Europe also holds a significant share, fueled by high demand from the automotive sector for on site maintenance and repair services. Asia Pacific is anticipated to witness a CAGR of 6.2% from 2023 to 2030, owing to rapid urbanization, an increase in road infrastructure projects, and the growing trend of outsourcing maintenance and repairs. Additionally, the Middle East and Africa are seeing growth due to expanding oil and gas industries requiring mobile service lorries for repairs and maintenance in remote locations. Latin America is expected to experience moderate growth during the forecast period, with Brazil contributing to the demand for service lorries in the logistics and transportation sectors.
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ORH Truck Solutions
AES Equipment Solutions
Ausroad
Plantman
STG Global
Shermac
Kador Engineering
Jacon Technologies
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Service Lorry Market
Light Duty Lorries
Medium Duty Lorries
Heavy Duty Lorries
Construction
Logistics and Distribution
Food and Beverages
Waste Management
Internal Combustion Engine (ICE)
Electric Lorries
Up to 5 Tons
5 to 10 Tons
Above 10 Tons
Diesel
Natural Gas
Electric
Hybrid
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Service Lorry Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Service Lorry Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Service Lorry Market, By Type
6. Global Service Lorry Market, By Application
7. Global Service Lorry Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Service Lorry Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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