Commercial Vehicles - Argentina

Argentina

In Argentina, the projected unit sales in the Commercial Vehicles market for 2024 are estimated to reach 136.20k vehicles.
This indicates the expected demand and potential growth in the country's market for Commercial Vehicles market.
Looking ahead, the market is anticipated to demonstrate an annual growth rate of 1.52% (CAGR 2024-2029), resulting in a projected market volume of 146.90k vehicles by 2029.
This growth projection showcases the potential for expansion within the Commercial Vehicles market in Argentina.
Furthermore, the production of Commercial Vehicles market in Argentina is expected to reach 310.40k vehicles by 2029.
This production figure highlights the capacity for growth and development within the country's Commercial Vehicles market.
From an international perspective, it is noteworthy that the in the United States is anticipated to have the highest sales volume in the Commercial Vehicles market , with a projected figure of 11,630.00k vehicles in 2024.
This demonstrates the significance of the United States as a key market player within the global Commercial Vehicles market industry.
Despite economic challenges, Argentina's commercial vehicle market is experiencing steady growth due to increased demand for transportation and logistics services.

Definition

A commercial vehicle is a motor vehicle that is used for business or commercial purposes rather than personal use. These vehicles are designed and used for transporting goods and passengers or providing services in exchange for compensation. The specific definition of a commercial vehicle can vary from one jurisdiction to another, and it may encompass a wide range of vehicles, depending on their size, purpose, and usage.

Structure

The Commercial Vehicles market is structured into three markets:

Light Commercial Vehicles (LCVs): This market focuses on vehicles designed for the transportation of goods or provision of services on a relatively small scale. LCVs typically include vans, mini trucks, and small cargo vehicles used by businesses and individuals for local deliveries, trade, and various commercial applications. Light commercial vehicles are defined as vehicles meant for carrying goods or passengers with a gross vehicle weight rating (GVWR) of up to 3.5 tons with some variation based on specific vehicle models, designs, and regional regulations.
Buses: Buses are motor vehicles designed for the transportation of passengers, varying in size and capacity and ranging from small minibuses to large coaches. This market considers medium and heavy buses and coaches (MHBCs). The gross vehicle weight rating (GVWR) of MHBCs typically exceeds 3.5 tons.
Trucks: The Trucks market is dedicated to heavy-duty vehicles used for the transportation of goods over long distances. Trucks are motor vehicles designed to transport cargo, ranging from small delivery trucks to heavy-duty freight carriers. Only heavy commercial vehicles (HCVs) are considered in this market. HCVs are typically defined as vehicles with a GVWR of 16 tons or more.

Additional Information

The market includes the production and sales of commercial vehicles within a specific region, regardless of the brand or model. Private vehicles, recreational vehicles, construction, and agricultural vehicles, as well as specialty vehicles such as ambulances and fire engines, are not included in the Commercial Vehicles market.

Notable key players in the Commercial Vehicles market include industry giants such as Daimler AG, Volvo Group, and PACCAR Inc., as well as various regional manufacturers and specialized vehicle manufacturers. These companies play a pivotal role in shaping the market landscape and driving innovation within the industry.

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Analyst Opinion

The Commercial Vehicles market in Argentina has been experiencing significant growth in recent years. Customer preferences in the market have shifted towards more fuel-efficient and environmentally friendly vehicles.

This is driven by increasing awareness of the impact of vehicle emissions on the environment and the desire to reduce fuel costs. Customers are also looking for vehicles that offer advanced safety features and improved technology. One of the key trends in the market is the growing demand for electric and hybrid commercial vehicles.

This is in line with the global trend towards electrification of transportation and the push for cleaner energy sources. The Argentine government has also been promoting the use of electric vehicles through various incentives and subsidies, further driving the demand for electric commercial vehicles. Another trend in the market is the increasing popularity of light commercial vehicles.

These vehicles are preferred by small businesses and individuals for their versatility and lower operating costs compared to larger commercial vehicles. The demand for light commercial vehicles is also driven by the growth of e-commerce and the need for efficient last-mile delivery solutions. Local special circumstances in Argentina also play a role in the development of the Commercial Vehicles market.

The country has a large agricultural sector, which requires specialized commercial vehicles for transportation of goods. This creates a niche market for agricultural vehicles, such as tractors and harvesters. Underlying macroeconomic factors also contribute to the growth of the Commercial Vehicles market in Argentina.

The country has been experiencing economic growth and rising disposable incomes, which has led to increased consumer spending on commercial vehicles. Additionally, the government has been investing in infrastructure development, such as road and transportation networks, which creates a demand for commercial vehicles. In conclusion, the Commercial Vehicles market in Argentina is developing in response to customer preferences for fuel-efficient and technologically advanced vehicles.

The market is also influenced by trends towards electrification and the increasing popularity of light commercial vehicles. Local special circumstances, such as the agricultural sector, and underlying macroeconomic factors, such as economic growth and infrastructure development, further contribute to the growth of the market.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of commercial vehicles.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.