Market Insights Mobility Commercial Vehicles

Trucks - EU-27

EU-27

In 2024, the Trucks market in the EU-2.86% is projected to reach a total of 0.38m vehicles units sold.
Looking ahead, it is expected that the market will experience a compound annual rate of 2.86% from 2024 to 2030, resulting in a projected market volume of 0.45m vehicles units by 2030.
This indicates the potential for growth in the Trucks market.
In terms of production, it is anticipated that the production of Trucks market will reach 0.93m vehicles units in 2030, further demonstrating the potential growth of the market.
From an international perspective, it is notable that the majority of sales in 2024 are expected to occur in China, with a projected figure of 3,741.00k vehicles units.
In Germany, the trend in the commercial truck market is a shift towards electric vehicles, driven by government incentives and increasing environmental regulations.

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Analyst Opinion

The Trucks market in EU-27 is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend.

Customer preferences play a crucial role in shaping the Trucks market in EU-27. Customers are increasingly looking for trucks that are fuel-efficient, environmentally friendly, and equipped with advanced safety features. This shift in preferences is driven by increasing awareness of climate change and the need to reduce carbon emissions.

Additionally, customers are also seeking trucks that offer greater comfort and convenience, as well as improved connectivity and technology integration. Trends in the market further contribute to the growth of the Trucks market in EU-27. One notable trend is the increasing demand for electric trucks.

As governments and regulatory bodies in the region implement stricter emission standards and promote sustainable transportation solutions, the demand for electric trucks is expected to rise. Furthermore, the development of autonomous driving technology is also shaping the market, with the potential to improve safety and efficiency in the transportation industry. Local special circumstances also play a role in the development of the Trucks market in EU-27.

Each country within the EU-27 has its own unique set of circumstances, such as infrastructure, regulations, and economic conditions, which influence the demand for trucks. For example, countries with well-developed infrastructure and a strong logistics industry may have higher demand for heavy-duty trucks. On the other hand, countries with a focus on urban mobility and last-mile delivery may see greater demand for light-duty trucks.

Underlying macroeconomic factors also contribute to the growth of the Trucks market in EU-27. Economic growth, trade activities, and construction projects all drive the demand for trucks. As the economy expands and construction projects increase, there is a greater need for trucks to transport goods and materials.

Additionally, the growth of e-commerce and online shopping has also contributed to the demand for trucks, as they play a crucial role in the logistics and delivery process. In conclusion, the Trucks market in EU-27 is experiencing significant growth and development driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for fuel-efficient and environmentally friendly trucks, the rise of electric and autonomous trucks, and the unique circumstances of each country within the EU-27 all contribute to this positive trend.

As the market continues to evolve, it is important for manufacturers and industry players to adapt to these changes and meet the evolving needs of customers in order to stay competitive in the market.

Methodology

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.