Commercial Vehicles

Chad

Highlights

The Commercial Vehicles market in Chad is set to achieve unit sales of 1.71k vehicles by the year 2024.
It is projected that the market will experience a compounded annual growth rate (CAGR 2024-2030) of 0.91%, leading to a market volume of 1.80k vehicles by 2030.
This growth indicates the potential for the Commercial Vehicles market to expand significantly.
Interestingly, the United States is expected to dominate the international market, with sales reaching 13.75m vehicles units in 2024.
Chad's commercial vehicle market is experiencing a surge in demand for robust and off-road capable vehicles due to its challenging terrain and infrastructure limitations.

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.

For further information on the displayed data, refer to the info button on the right-hand side of each box.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

This trend is driven by increasing awareness of the impact of vehicle emissions on the environment and the rising cost of fuel. In Chad, customers are increasingly looking for commercial vehicles that offer better fuel efficiency, as fuel prices continue to rise. This has led to a growing demand for vehicles with hybrid or electric engines, which offer lower fuel consumption and reduced emissions.

Customers are also looking for vehicles that are durable and require less maintenance, as this can help reduce operating costs in the long run. Another trend in the market is the increasing demand for commercial vehicles with advanced safety features. Customers are prioritizing vehicles that offer better safety features such as anti-lock braking systems, airbags, and stability control.

This trend is driven by a growing concern for road safety and the need to protect drivers and passengers. Local special circumstances in Chad also play a role in shaping the Commercial Vehicles market. The country's infrastructure is still developing, with many roads in rural areas being unpaved.

This creates a demand for commercial vehicles that are capable of navigating rough terrains and are durable enough to withstand challenging conditions. Customers in Chad also have specific needs for commercial vehicles that can transport goods across long distances, as the country has a large land area. Underlying macroeconomic factors also contribute to the development of the Commercial Vehicles market in Chad.

The country's economy has been growing steadily in recent years, leading to an increase in business activities and trade. This has created a demand for commercial vehicles to support the transportation of goods and services. Additionally, government policies and regulations aimed at promoting economic growth and development have also played a role in driving the demand for commercial vehicles.

In conclusion, the Commercial Vehicles market in Chad is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Customers are increasingly looking for fuel-efficient and environmentally friendly vehicles, as well as vehicles with advanced safety features. The country's infrastructure and specific transportation needs also shape the market.

The growing economy and government policies further contribute to the development of the market.

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.