Trucks - Argentina | Statista Market Forecast

In Argentina, the Trucks market is expected to see a significant increase in unit sales, with projections reaching 21.82k vehicles by 2024.
This growth is further anticipated to continue at a compound annual rate (CAGR 2024-2030) of 2.59%, resulting in a projected market volume of 25.44k vehicles by 2030.
These figures demonstrate the potential for substantial expansion in the Trucks market.
Moreover, the production of Trucks market is also expected to surge, reaching 36.81k vehicles by 2030.
This highlights the immense growth potential of the Trucks market in Argentina.
When considering the international perspective, it is noteworthy that China is projected to dominate the sales figures, with an estimated 3.74m vehicles units sold in 2024.
This indicates the strong presence of China in the global Trucks market.
Argentina's truck market is experiencing a surge in demand due to the country's growing agricultural industry.

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 Argentina has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Trucks market in Argentina have been shifting towards more fuel-efficient and environmentally-friendly vehicles.

With rising concerns about climate change and increasing fuel prices, customers are increasingly looking for trucks that offer better fuel economy and lower emissions. This has led to a growing demand for hybrid and electric trucks in Argentina, as well as trucks with advanced technologies that improve fuel efficiency. In addition to fuel efficiency, customers in Argentina are also prioritizing safety features in their trucks.

With stricter regulations and a greater emphasis on road safety, customers are looking for trucks that come equipped with advanced safety features such as collision avoidance systems, lane departure warning, and adaptive cruise control. This trend is expected to continue driving the growth of the Trucks market in Argentina. Another trend in the market is the increasing popularity of light-duty trucks.

As urbanization continues to drive the growth of cities in Argentina, there is a growing need for smaller and more maneuverable trucks that can navigate through narrow streets and congested traffic. Light-duty trucks are also more fuel-efficient and cost-effective, making them an attractive choice for businesses operating in urban areas. Local special circumstances in Argentina also play a role in shaping the Trucks market.

The country has a strong agricultural sector, which requires trucks for transporting goods such as crops and livestock. As a result, there is a high demand for trucks with large cargo capacities and robust performance in rural areas. Additionally, Argentina has a vast network of unpaved roads, which requires trucks with off-road capabilities to navigate through challenging terrains.

Underlying macroeconomic factors have also contributed to the growth of the Trucks market in Argentina. The country has been experiencing economic growth in recent years, which has led to an increase in construction activities and infrastructure development. This has created a demand for trucks for transporting construction materials and equipment.

Furthermore, the government has been implementing policies to promote domestic manufacturing and reduce dependency on imported vehicles, which has further boosted the growth of the Trucks market. In conclusion, the Trucks market in Argentina is witnessing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As customers prioritize fuel efficiency and safety features, the demand for hybrid and electric trucks, as well as trucks with advanced technologies, is expected to increase.

The popularity of light-duty trucks is also on the rise, driven by urbanization and the need for more maneuverable vehicles. The strong agricultural sector and the presence of unpaved roads in Argentina contribute to the demand for trucks with large cargo capacities and off-road capabilities. Overall, the growth of the Trucks market in Argentina is supported by a favorable economic environment and government policies that promote domestic manufacturing.

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.