Global Heavy-Duty Electric Trucks and Brake Pads Markets to Grow Rapidly by 2034

Fortune Business Insights reports that the global heavy‑duty electric trucks market was valued at USD 12.31 billion in 2025 and is projected to reach USD 101.02 billion by 2034, representing a compound annual growth rate (CAGR) of 27.1%.

The same firm forecasts the automotive brake pads market at USD 4.07 billion in 2025, with an expected size of USD 6.67 billion by 2034 and a CAGR of 5.7%. Both segments are being driven by the automotive industry's shift toward electrification, connected and autonomous vehicle technologies, stricter emissions regulations, and rising demand for advanced driver‑assistance systems (ADAS). Key players highlighted include Volvo Trucks, Daimler Truck, BYD, Tesla, and Scania in the electric‑truck space, and Brembo, Akebono Brake Industry, Continental, Bosch Automotive and Valeo in the brake‑pad sector.