Trucks - Finland | Statista Market Forecast

In Finland, the Trucks market is expected to see a significant increase in unit sales, with projections reaching 4.30k vehicles by 2024.
This growth is further anticipated to continue with a compound annual rate (CAGR 2024-2030) of 2.91%, resulting in a projected market volume of 5.10k vehicles by 2030.
Moreover, the production of Trucks market withFinland is also expected to experience growth, with estimates reaching 67.00vehicles by 2030.
This indicates the potential for further expansion and development within the Trucks market.
From a global perspective, it is worth noting that a considerable portion of sales is projected to occur China, with estimates reaching 3.74m vehicles in 2024.
This highlights the prominence and significance of the Chinese market within the Trucks market industry.
Finland's commercial truck market is dominated by the demand for electric vehicles due to the country's strong commitment to sustainability.

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 Finland has been experiencing significant growth in recent years, driven by customer preferences for reliable and efficient vehicles. Customer preferences in the Trucks market in Finland are heavily influenced by the need for durability and performance.

Finnish customers value trucks that can withstand harsh weather conditions and rough terrains, making durability a key factor in their purchasing decisions. Additionally, customers prioritize fuel efficiency and low emissions, as environmental sustainability is a growing concern in Finland. One of the major trends in the Trucks market in Finland is the increasing demand for electric and hybrid trucks.

As the country aims to reduce its carbon footprint and transition towards renewable energy sources, there is a growing interest in electric and hybrid vehicles. This trend is also driven by government incentives and regulations that promote the adoption of eco-friendly vehicles. Another trend in the market is the integration of advanced technologies in trucks.

Finnish customers are increasingly looking for trucks equipped with features such as advanced safety systems, telematics, and connectivity options. These technologies not only enhance the overall driving experience but also improve efficiency and productivity for businesses. Local special circumstances in Finland also play a role in shaping the Trucks market.

The country's vast geography and long distances between cities and towns require trucks to have excellent performance and reliability. Additionally, Finland's strong forestry and construction industries contribute to the demand for trucks that can handle heavy loads and challenging terrains. Underlying macroeconomic factors also contribute to the development of the Trucks market in Finland.

The country's stable economy and high standard of living provide a favorable environment for businesses and individuals to invest in trucks. Moreover, Finland's strong focus on innovation and technology creates opportunities for truck manufacturers to introduce new and advanced models to the market. In conclusion, the Trucks market in Finland is experiencing growth due to customer preferences for durable and efficient vehicles, the increasing demand for electric and hybrid trucks, the integration of advanced technologies, local special circumstances, and underlying macroeconomic factors.

As the market continues to evolve, it is crucial for truck manufacturers to understand and cater to the specific needs and preferences of Finnish customers.

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.