Commercial Vehicles - Israel

  • Israel
  • The projected number of unit sales in the Commercial Vehicles market in Israel is expected to reach 96.02k vehicles by 2024.
  • It is anticipated that the unit sales will exhibit a compound annual rate (CAGR 2024-2030) of 2.58%, resulting in a projected market volume of 111.90k vehicles by 2030.
  • This growth in unit sales signifies the potential expansion of the Commercial Vehicles market in Israel.
  • Moreover, the production of Commercial Vehicles market in Israel is expected to reach 0.68k vehicles by 2030, further highlighting the growth prospects of the market.
  • From an international standpoint, it is noteworthy that the majority of sales, amounting to 13,750.00k vehicles, are projected to occur the in the United States in 2024.
  • Israel's commercial vehicle market is experiencing a surge in demand for electric vehicles, driven by the country's commitment to sustainable transportation and government incentives.
 
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Analyst Opinion

The Commercial Vehicles market in Israel is experiencing significant growth and development. Customer preferences are shifting towards more environmentally friendly and fuel-efficient vehicles.

Additionally, there is a growing demand for vehicles that can accommodate the needs of businesses in various industries. Customer preferences in the Commercial Vehicles market in Israel are influenced by global trends. As environmental concerns continue to rise, there is a growing demand for electric and hybrid vehicles.

Customers are increasingly looking for vehicles that are not only cost-effective but also environmentally friendly. This shift in preferences is driving the development of more fuel-efficient and electric commercial vehicles in the market. Another customer preference that is driving the development of the Commercial Vehicles market in Israel is the need for vehicles that can accommodate the specific needs of businesses in various industries.

For example, there is a demand for vehicles with larger cargo capacities for transportation and logistics companies. Additionally, there is a need for vehicles that can be customized to meet the specific requirements of businesses in industries such as construction and agriculture. In terms of trends in the market, there is a growing focus on connectivity and automation.

Commercial vehicles are increasingly being equipped with advanced technologies that enable real-time tracking, remote diagnostics, and predictive maintenance. This trend is driven by the need for businesses to optimize their operations and improve efficiency. Another trend in the Commercial Vehicles market in Israel is the increasing use of telematics systems.

These systems provide businesses with valuable data and insights about their vehicles, such as fuel consumption, driver behavior, and vehicle performance. This data can be used to improve fleet management, reduce costs, and enhance overall operational efficiency. Local special circumstances in Israel also contribute to the development of the Commercial Vehicles market.

The country has a strong focus on innovation and technology, which has led to the development of advanced commercial vehicle technologies. Additionally, the government has implemented policies and incentives to promote the use of electric and hybrid vehicles, further driving the development of the market. Underlying macroeconomic factors also play a role in the development of the Commercial Vehicles market in Israel.

The country has a strong economy and a thriving business sector, which creates a demand for commercial vehicles. Additionally, Israel has a well-developed infrastructure and transportation network, which supports the growth of the market. In conclusion, the Commercial Vehicles market in Israel is experiencing growth and development driven by customer preferences for environmentally friendly and fuel-efficient vehicles, as well as vehicles that can accommodate the specific needs of businesses in various industries.

The market is also influenced by global trends such as connectivity and automation. Local special circumstances, including a focus on innovation and technology, and government policies and incentives, further contribute to the development 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.

Overview

  • Unit Sales
  • Production
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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