Trucks - Burkina Faso | Statista Market Forecast

In 2024, the projected unit sales in the Trucks market of Burkina Faso are expected to reach 1.14k vehicles.
This market is anticipated to experience a compound annual rate (CAGR 2024-2030) of 2.59%, resulting in a projected market volume of 1.33k vehicles by 2030.
Interestingly, the production of Trucks market in Burkina Faso is expected to reach 0.00 by 2030, indicating the potential for significant growth in this market.
From an international perspective, it is noteworthy that the majority of sales, amounting to 3.74m vehicles, are projected to occur China in 2024.
Burkina Faso's commercial truck market is experiencing a surge in demand due to the country's growing agriculture and construction sectors.

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 Burkina Faso is experiencing steady growth due to several factors. Customer preferences in Burkina Faso's Trucks market are influenced by the need for durable and reliable vehicles that can withstand the country's challenging road conditions.

Customers prioritize trucks that have high ground clearance, strong suspension systems, and robust engines. Additionally, fuel efficiency is an important consideration for customers, as fuel costs can be a significant expense for truck owners in Burkina Faso. Trends in the Trucks market in Burkina Faso show an increasing demand for smaller and more versatile trucks.

This is driven by the country's growing urbanization and the need for vehicles that can navigate narrow streets and congested traffic. Smaller trucks are also more affordable for small business owners and individuals who require a vehicle for personal use. Furthermore, there is a rising trend of trucks being used for agricultural purposes, such as transporting crops and livestock.

Local special circumstances in Burkina Faso contribute to the development of the Trucks market. The country's infrastructure, particularly its road network, is still developing, and this creates a demand for trucks that can handle rough terrains and unpaved roads. Additionally, Burkina Faso's economy relies heavily on agriculture, and trucks play a crucial role in transporting agricultural products to markets.

This creates a steady demand for trucks in the country. Underlying macroeconomic factors also play a role in the development of the Trucks market in Burkina Faso. The country's GDP has been growing steadily in recent years, which has led to an increase in disposable income and consumer spending.

This, in turn, has fueled demand for trucks as individuals and businesses have the financial means to purchase and maintain these vehicles. Additionally, government initiatives to improve infrastructure and support the agricultural sector have further boosted the Trucks market in Burkina Faso. In conclusion, the Trucks market in Burkina Faso is developing in response to customer preferences for durable and versatile vehicles, as well as local special circumstances such as challenging road conditions and the importance of trucks in the agricultural sector.

Underlying macroeconomic factors, including GDP growth and government initiatives, are also contributing to the growth of the 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.