Executive Summary

The vocational truck market, encompassing delivery vehicles, waste management trucks, utility service vehicles and specialized trade equipment, is set for significant growth and transformation as we move into 2025. This market differs from the broader Class 8 over-the-road segment, with unique replacement cycles and application-specific demands. Regulatory mandates, economic recovery and technological advancements are key drivers shaping the landscape. For equipment finance companies, the evolving needs of vocational fleet operators present opportunities and challenges requiring tailored approaches.