Trucks - Australia | Statista Market Forecast

In Australia, the Trucks market is projected to achieve unit sales of 515.30k vehicles by 2024.
It is anticipated that these unit sales will exhibit a compound annual rate of 0.50% from 2024 to 2030, resulting in a projected market volume of 530.90k vehicles by 2030.
This growth in unit sales highlights the potential expansion of the Trucks market.
Furthermore, the production of the Trucks market is expected to reach 4.83k vehicles by 2030, providing further insight into the market's potential growth.
From an international perspective, it is evident that China will dominate the market, with unit sales projected to reach 3.74m vehicles in 2024.
Australia's commercial truck market is experiencing a shift towards electric vehicles, driven by the country's commitment to reducing carbon emissions.

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 Australia has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Trucks market in Australia have shifted towards more fuel-efficient and environmentally friendly vehicles.

With increasing concerns about climate change and rising fuel prices, customers are looking for trucks that offer better fuel efficiency and lower emissions. This has led to a growing demand for electric and hybrid trucks in the market. Additionally, customers are also placing importance on safety features and technological advancements in trucks, such as advanced driver assistance systems and connectivity options.

In terms of market trends, the Trucks market in Australia has seen a rise in the popularity of light commercial vehicles (LCVs). LCVs are smaller trucks that offer versatility and agility, making them suitable for a wide range of applications. This trend can be attributed to the growth of e-commerce and last-mile delivery services, which require smaller and more maneuverable trucks to navigate urban areas.

As a result, there has been an increase in the production and sales of LCVs in the Australian market. Local special circumstances also play a role in the development of the Trucks market in Australia. The country's vast and diverse geography, with its long distances and challenging terrains, necessitates the use of robust and capable trucks.

This has led to a demand for trucks with off-road capabilities and high towing capacities. Additionally, the mining industry in Australia is a significant driver of the Trucks market, as it requires heavy-duty trucks for transporting materials and equipment. Underlying macroeconomic factors have also contributed to the growth of the Trucks market in Australia.

The country's strong economic performance, supported by factors such as population growth, infrastructure development, and increased construction activity, has resulted in a higher demand for trucks. Furthermore, government initiatives and incentives to promote the adoption of electric and hybrid vehicles have also influenced the market, encouraging customers to consider more sustainable options. Overall, the Trucks market in Australia is developing in response to customer preferences for fuel-efficient and technologically advanced vehicles, market trends favoring light commercial vehicles, local special circumstances requiring robust trucks, and underlying macroeconomic factors driving demand.

As the market continues to evolve, manufacturers and industry players will need to adapt to these trends and cater to the changing needs of customers in order to stay competitive in the Australian market.

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.