At the beginning of 2025, the Chinese heavy-duty truck market showed a differentiated trend. According to the latest industry data, the sales of traditional fuel heavy-duty trucks in the first two months decreased by 3% year-on-year. However, LNG (Liquefied Natural Gas) heavy-duty trucks and new energy heavy-duty trucks performed remarkably, achieving year-on-year growth of 9% and 170% respectively, with penetration rates hitting new highs of 23.8% and 14.3%. Among them, LNG heavy-duty trucks, with their fuel cost advantage (the current gas price is 39.2% lower than that of diesel), have a shortened investment payback period to 9.1 months, making them the first choice for logistics enterprises. New energy models, benefiting from policy subsidies and technological breakthroughs, are seeing the gradual popularization of 600 kWh high-capacity battery configurations, accelerating the electrification trend.
Sinotruk, FAW Jiefang,
Shaanxi Auto, and Dongfeng Motor continue to lead the market, together accounting for 79.9% of the share. Notably, Sinotruk, with new products such as the SITRAK 4-axle 45-ton tractor, has been continuously strengthening its efforts in the new energy field. In 2022, its export volume reached 89,000 units, setting a new industry record. In addition,
Weichai Power, with a 65% market share in LNG engines, firmly ranks as the industry leader. The application of its large-bore engines in the backup power supply field of data centers has become a new profit growth point.
Facing the monopoly of international brands in core areas such as braking systems and AMT transmissions, domestic parts enterprises are breaking through through technological innovation. For example,
Fast Gear has been selected as a typical case of "Data Elements x" in Shaanxi Province. Its hydraulic retarder and intelligent
transmission technologies have reached international standards. Aeolus Tyre has introduced tubeless heavy-load technology, significantly improving vehicle safety and operating efficiency. Meanwhile, the supply chains for key components in the new energy field, such as batteries and electric drive axles, are gradually being improved, and the supporting capabilities of enterprises such as BYD and CATL are continuously strengthening.
With the promotion of the policy for scrapping and renewing old trucks and the inclusion of natural gas vehicles in the subsidy scope, it is expected that the sales of gas models will maintain rapid growth in 2025. In terms of exports, markets such as Russia and Southeast Asia have strong demand. The export volume of Chinese heavy-duty trucks increased by 35.4% year-on-year in 2023, and there is hope to further expand the international market space in the future. In addition, the application of intelligent and lightweight technologies, such as the Jiefang Power T-shift 12AMT transmission and the Weichai WP16NG - 4.0 gas engine, will drive the industry to transform towards high efficiency and low carbon.
The Chinese heavy-duty truck industry is undergoing a crucial transition from "scale expansion" to "quality upgrading". Driven by new energy and exports, local enterprises are gradually breaking the monopoly of international brands through technological innovation and supply chain integration, providing cost-effective "Chinese solutions" for the global market. In the future, with the continuous release of policy support and market demand, the Chinese heavy-duty truck industry chain is expected to usher in a new round of growth cycles.
