Commercial Vehicles - Mauritius

Mauritius

In Mauritius, the Commercial Vehicles market is expected to witness a significant increase in unit sales, with projections indicating a rise to 1,737.00vehicles by 2024.
Furthermore, an annual growth rate of -0.13% (CAGR 2024-2029) is anticipated, leading to a projected market volume of 1,726.00vehicles by 2029.
These figures highlight the potential for growth within the Commercial Vehicles market in Mauritius.
Moreover, the production of Commercial Vehicles market is predicted to reach 3.11k vehicles by 2029, underscoring the potential for expansion within the market.
In terms of international sales, it is worth noting that the in the United States is expected to dominate the market, with sales reaching 11,630.00k vehicles in 2024.
This further emphasizes the significance of the Commercial Vehicles market on a global scale.
In Mauritius, the commercial vehicles market is experiencing a shift towards eco-friendly electric vehicles to reduce carbon emissions.

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

Customers are increasingly looking for vehicles with lower emissions and better fuel economy. This shift in preferences can be attributed to the growing awareness of the environmental impact of vehicles and the rising fuel prices in the country. One of the key trends in the Commercial Vehicles market in Mauritius is the increasing demand for electric vehicles.

Electric vehicles offer lower operating costs and reduced emissions compared to traditional fuel-powered vehicles. The government of Mauritius has also been promoting the adoption of electric vehicles through various incentives and subsidies, further driving the demand for these vehicles. Another trend in the market is the growing popularity of light commercial vehicles.

These vehicles are versatile and can be used for a wide range of purposes, including transportation of goods and services. The increasing number of small businesses and startups in Mauritius has contributed to the demand for light commercial vehicles. In addition to customer preferences, there are also some local special circumstances that are influencing the development of the Commercial Vehicles market in Mauritius.

One such circumstance is the limited availability of public transportation in certain areas of the country. This has led to an increased reliance on private vehicles, including commercial vehicles, for transportation needs. Furthermore, the government of Mauritius has been investing in infrastructure development, including the construction of new roads and highways.

This has improved the connectivity and accessibility of different regions in the country, leading to increased demand for commercial vehicles for transportation of goods and services. Underlying macroeconomic factors also play a role in the development of the Commercial Vehicles market in Mauritius. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending.

This, in turn, has contributed to the demand for commercial vehicles as businesses expand and require transportation solutions. In conclusion, the Commercial Vehicles market in Mauritius is experiencing growth due to shifting customer preferences towards fuel-efficient and environmentally friendly vehicles, the increasing demand for electric vehicles, the popularity of light commercial vehicles, local special circumstances such as limited public transportation availability, government investments in infrastructure development, and underlying macroeconomic factors such as steady economic growth.

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.