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The Commercial Vehicles market in Thailand is experiencing significant growth and development.
Customer preferences: Customers in Thailand are increasingly favoring commercial vehicles for various reasons. One of the main reasons is the growing demand for transportation services, both within the country and for export purposes. As Thailand is a major manufacturing hub, there is a need for efficient and reliable transportation of goods. Commercial vehicles provide the necessary capacity and flexibility to meet these demands. Another factor driving customer preferences is the increasing focus on sustainability and environmental friendliness. With the growing concerns about pollution and climate change, customers are opting for commercial vehicles that are more fuel-efficient and emit lower levels of greenhouse gases. This is particularly important for businesses that want to comply with stricter environmental regulations and reduce their carbon footprint.
Trends in the market: One of the key trends in the Commercial Vehicles market in Thailand is the shift towards electric and hybrid vehicles. The government has been actively promoting the adoption of electric vehicles through various incentives and subsidies. This has led to an increase in the number of electric and hybrid commercial vehicles on the roads. These vehicles not only help reduce carbon emissions but also offer cost savings in terms of fuel consumption and maintenance. Another trend in the market is the growing popularity of light commercial vehicles. These vehicles are smaller in size and offer greater maneuverability in congested urban areas. They are particularly favored by small businesses and delivery services. The demand for light commercial vehicles is expected to continue growing as e-commerce and online shopping become more prevalent in Thailand.
Local special circumstances: Thailand's geographical location and infrastructure development play a significant role in the development of the Commercial Vehicles market. The country is strategically located in Southeast Asia, making it a key transportation hub for both domestic and international trade. The government has been investing heavily in infrastructure projects, such as the expansion of highways and the development of logistics parks, to improve connectivity and support the growth of the commercial vehicles industry.
Underlying macroeconomic factors: Thailand's strong economic growth and industrialization have contributed to the development of the Commercial Vehicles market. The country has a thriving manufacturing sector, which requires efficient transportation of goods. Additionally, the growth of the e-commerce industry has led to an increased demand for commercial vehicles for last-mile delivery services. These macroeconomic factors, combined with favorable government policies and customer preferences, are driving the growth and development of the Commercial Vehicles market in Thailand.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)