Trucks - ASEAN | Statista Market Forecast

The Trucks market in ASEAN is projected to see unit sales of 118.10k vehicles by 2024.
This forecast indicates that the market is expected to grow at a compound annual rate of -1.31%, resulting in a projected market volume of 109.10k vehicles by 2030.
This growth potential is reflected in the expected production of 109.90k vehicles Trucks market by 2030.
In terms of international sales, it is noteworthy that China is anticipated to dominate with sales of 3.74m vehicles Trucks market in 2024.
In the ASEAN region, Thailand's truck market is experiencing a significant shift towards electric and hybrid models.

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 ASEAN is experiencing significant growth and development due to various factors. Customer preferences in the Trucks market in ASEAN are shifting towards vehicles that are more fuel-efficient and environmentally friendly.

Customers are becoming increasingly conscious of the impact of their choices on the environment and are opting for trucks that have lower emissions and better fuel economy. This trend is driven by both regulatory requirements and consumer demand for more sustainable transportation solutions. Trends in the market show a growing demand for smaller trucks in ASEAN countries.

This can be attributed to the increasing urbanization in the region, which has led to a higher demand for trucks that can navigate through congested city streets. Additionally, smaller trucks are more cost-effective and easier to maintain, making them a popular choice among businesses in ASEAN. Local special circumstances also play a role in the development of the Trucks market in ASEAN.

Each country in the region has its own unique set of circumstances that influence the demand for trucks. For example, in countries with a large agricultural sector, there is a higher demand for trucks that can transport agricultural products. On the other hand, countries with a strong manufacturing industry may have a higher demand for trucks that can transport goods between factories and distribution centers.

Underlying macroeconomic factors also contribute to the growth of the Trucks market in ASEAN. Economic growth in the region has led to an increase in trade and commerce, which in turn drives the demand for trucks. As businesses expand and trade volumes increase, the need for trucks to transport goods also rises.

Additionally, favorable government policies and investments in infrastructure development further support the growth of the Trucks market in ASEAN. In conclusion, the Trucks market in ASEAN is experiencing growth and development driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards more fuel-efficient and environmentally friendly trucks, the demand for smaller trucks in urban areas, unique local circumstances, and a favorable economic environment all contribute to the positive outlook for the Trucks market in ASEAN.

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.