Commercial Vehicles - Kazakhstan

Kazakhstan

The projected unit sales in the Commercial Vehicles market in Kazakhstan are forecasted to reach 1.64k vehicles by 2024.
It is expected that these unit sales will exhibit an annual growth rate (CAGR 2024-2029) of 0.36%, resulting in a projected market volume of 1.67k vehicles by 2029.
This indicates the potential for growth in the Commercial Vehicles market in Kazakhstan.
Furthermore, the production of Commercial Vehicles market in Kazakhstan is anticipated to reach 10.14k vehicles by 2029, further emphasizing the growth potential of this market.
From an international perspective, it is noteworthy that the majority of sales in 2024 are expected to occur the in the United States, with a projected figure of 11,630.00k vehicles.
Kazakhstan's commercial vehicle market is witnessing a surge in demand for heavy-duty trucks due to the country's growing infrastructure and logistics sectors.

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

Region

Region comparison

Currency

Analyst Opinion

The Commercial Vehicles market in Kazakhstan has been experiencing steady growth in recent years. Customer preferences in the Commercial Vehicles market in Kazakhstan are largely driven by the need for reliable and durable vehicles that can withstand the country's harsh weather conditions and rugged terrain.

Customers also prioritize vehicles that offer good fuel efficiency and low maintenance costs. Additionally, there is a growing demand for vehicles with advanced safety features and technological innovations. One of the key trends in the Commercial Vehicles market in Kazakhstan is the increasing popularity of electric and hybrid vehicles.

This trend is driven by the global shift towards more sustainable and environmentally-friendly transportation options. Customers in Kazakhstan are becoming more conscious of the environmental impact of their vehicles and are opting for electric and hybrid models that offer lower emissions and reduced fuel consumption. Another trend in the market is the growing demand for light commercial vehicles.

These vehicles are preferred by small businesses and individuals for their versatility and cost-effectiveness. Light commercial vehicles are used for a wide range of purposes, such as transportation of goods and equipment, delivery services, and passenger transport. The increasing number of small businesses and entrepreneurial activities in Kazakhstan has contributed to the rising demand for light commercial vehicles.

Local special circumstances in Kazakhstan, such as the vast size of the country and the need for transportation in remote areas, have also influenced the Commercial Vehicles market. The demand for heavy-duty trucks and off-road vehicles is high in Kazakhstan due to the need for transportation in challenging terrains and long distances. Additionally, the country's infrastructure development projects, such as the construction of new roads and highways, have created opportunities for the Commercial Vehicles market.

Underlying macroeconomic factors, such as economic growth and government policies, have also played a role in the development of the Commercial Vehicles market in Kazakhstan. The country has experienced steady economic growth in recent years, which has increased the purchasing power of consumers and businesses. This has led to an increase in demand for commercial vehicles.

Furthermore, the government has implemented policies to support the growth of the automotive industry, such as tax incentives and subsidies for electric and hybrid vehicles. In conclusion, the Commercial Vehicles market in Kazakhstan is growing due to customer preferences for reliable and durable vehicles, the popularity of electric and hybrid vehicles, the increasing demand for light commercial vehicles, local special circumstances such as the vast size of the country and infrastructure development projects, and underlying macroeconomic factors such as economic growth and government policies.

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.