Trucks - Angola | Statista Market Forecast

The Trucks market in Angola is projected to reach 2.82k vehicles unit sales in 2024.
It is expected to show a compound annual rate (CAGR 2024-2030) of 2.59%, resulting in a projected market volume of 3.28k vehicles by 2030.
The production of the Trucks market is expected to reach 0.00 in 2030, showcasing the potential growth of this market in Angola.
From an international perspective, it is evident that most of the sales, totaling 3.74m vehicles units, will be China in 2024.
Angola's commercial vehicle market is experiencing a surge in demand for trucks due to the country's growing infrastructure and construction projects.

Definition

The Trucks market encompasses a diverse array of vehicles primarily intended for the transportation of goods and materials on a larger scale. These robust and specialized vehicles are engineered for commercial purposes, playing a pivotal role in industries such as logistics, construction, and heavy-duty transportation. Trucks come in various configurations that cater to specific cargo and operational requirements, ranging from light-duty delivery trucks to heavy-duty long-haul trucks with a GVWR of 16 tons or more.

Additional Information

The Trucks market is a dynamic sector characterized by a wide range of vehicle types and applications. Manufacturers continually innovate to improve performance, efficiency, and safety. This market is heavily influenced by factors such as government regulations, emissions standards, and evolving industry needs, which drive advancements in areas like fuel efficiency and alternative propulsion technologies.

Key players in the Trucks market include globally renowned companies such as Daimler Trucks, Volvo Group, PACCAR Inc., and Scania. These manufacturers play a crucial role in shaping the industry by introducing new technologies, improving fuel efficiency, and ensuring compliance with evolving environmental regulations. This market is highly competitive, driving continuous innovation and advancements in truck design and functionality.

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Tanker trucks
Refrigerated trucks
Large delivery trucks
Freight trucks
Flatbed trucks
Construction trucks

Watercraft, aircraft, and railway vehicles
Medium and heavy buses and coaches
Motorcycles and scooters
Light commercial vehicles (LCVs)
Consumer and recreational vehicles
Passenger cars
Off-road and specialized vehicles

The Trucks market in Angola is experiencing steady growth due to increasing customer preferences for reliable and durable vehicles in the country. Customer preferences in the Trucks market in Angola are largely driven by the need for vehicles that can withstand the challenging road conditions and heavy loads commonly encountered in the country.

Customers prioritize trucks with robust engines, strong chassis, and high load capacities to ensure efficient transportation of goods across long distances. Additionally, customers in Angola also value trucks that are fuel-efficient and have low maintenance costs, as these factors contribute to overall cost savings in the long run. One of the key trends in the Trucks market in Angola is the growing demand for trucks with advanced safety features.

Customers are increasingly seeking vehicles equipped with features such as anti-lock braking systems, traction control, and stability control to enhance driver safety and reduce the risk of accidents. This trend is driven by the government's efforts to improve road safety and regulations mandating the use of safety features in commercial vehicles. Another trend in the Trucks market in Angola is the increasing adoption of technology-driven solutions.

Customers are looking for trucks that are equipped with telematics systems, which provide real-time monitoring and tracking of vehicles. This technology enables fleet operators to optimize routes, improve fuel efficiency, and enhance overall fleet management. Additionally, customers are also showing interest in trucks that are compatible with alternative fuel sources, such as natural gas or electric power, as they seek to reduce their carbon footprint and comply with environmental regulations.

Local special circumstances in Angola also play a role in shaping the Trucks market. The country's infrastructure, particularly the road network, is still developing, which creates a demand for trucks that can navigate rough terrains and withstand challenging driving conditions. Additionally, Angola is a resource-rich country, with industries such as mining and agriculture driving the demand for trucks to transport goods and materials.

These factors contribute to the growth of the Trucks market in Angola. Underlying macroeconomic factors, such as economic growth and government policies, also influence the development of the Trucks market in Angola. As the country's economy continues to recover from the impact of the global financial crisis, there is an increasing demand for trucks to support various sectors, including construction, manufacturing, and logistics.

Government initiatives to promote infrastructure development and attract foreign investments also contribute to the growth of the Trucks market. In conclusion, the Trucks market in Angola is experiencing growth driven by customer preferences for reliable and durable vehicles, trends such as the adoption of advanced safety features and technology-driven solutions, local special circumstances such as challenging road conditions and resource-rich industries, and underlying macroeconomic factors including economic growth and government policies.

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of trucks.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

The trucking industry in Canada refers to companies which are engaged in the transport of goods via truck. This includes both organizations who own and operate a private truck fleet to transport goods they produce themselves, as well as for-hire carriers who are contracted to carry goods produced by a different company. In 2022, the industry generated almost 39.55 billion Canadian dollars from almost 63.7 million shipments. Both these figures are slightly lower than at the industry’s peak in 2014, when shipments of 63.8 million tons of cargo generated 38.7 billion in revenue. However, the revenue per shipment of 621.15 Canadian dollars in 2018 is higher than in 2017, when only 585.6 Canadian dollars of revenue was generated per shipment.