Market Insights Mobility Commercial Vehicles

Trucks - Ireland

Ireland

In 2024, the Trucks market in Ireland is projected to reach 2.92k vehicles unit sales.
It is expected that the unit sales will show a compound annual rate (CAGR 2024-2030) of 3.31%, resulting in a projected market volume of 3.55k vehicles units by 2030.
This growth rate indicates the potential for expansion in the Trucks market in Ireland.
Looking at the international perspective, it is evident that in China will dominate the market with the highest sales volume of 3,741.00k vehicles units in 2024.
This highlights the significance of in China in the global Trucks market.
The demand for electric trucks is on the rise in Ireland as the country aims to reduce its carbon emissions.

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Analyst Opinion

The Trucks market in Ireland is experiencing steady growth, driven by customer preferences for reliable and efficient vehicles.

Customer preferences: Customers in Ireland are increasingly looking for trucks that are not only reliable and durable, but also fuel efficient. With rising fuel costs and a growing focus on sustainability, there is a strong demand for trucks that can offer good fuel economy without compromising on performance. Additionally, customers are also placing importance on safety features such as advanced driver assistance systems and enhanced braking systems.

Trends in the market: One of the key trends in the Irish Trucks market is the increasing popularity of electric and hybrid trucks. As the government and businesses in Ireland are actively promoting sustainability and reducing carbon emissions, there is a growing demand for eco-friendly transportation solutions. Electric and hybrid trucks provide an alternative to traditional diesel-powered vehicles, offering lower emissions and reduced fuel consumption. This trend is expected to continue as more manufacturers introduce electric and hybrid truck models to the market. Another trend in the market is the adoption of telematics technology in trucks. Telematics systems enable fleet managers to track and monitor the performance of their trucks in real-time. This technology provides valuable data on fuel consumption, driver behavior, and vehicle maintenance, allowing fleet managers to optimize operations and reduce costs. The demand for telematics systems is expected to increase as more companies recognize the benefits of data-driven fleet management.

Local special circumstances: Ireland's geographical landscape, characterized by narrow and winding roads, presents unique challenges for truck drivers. As a result, there is a demand for trucks that are maneuverable and have good visibility. Manufacturers are responding to this demand by designing trucks with improved turning radius and enhanced visibility features such as larger windows and advanced camera systems.

Underlying macroeconomic factors: The growth of the Trucks market in Ireland is also influenced by macroeconomic factors such as GDP growth and construction activity. As the economy continues to recover, there is an increase in construction projects and infrastructure development, which drives the demand for trucks. Additionally, the growth of e-commerce and logistics sectors also contributes to the demand for trucks, as companies require efficient transportation solutions to meet the increasing demand for goods delivery. In conclusion, the Trucks market in Ireland is experiencing growth due to customer preferences for reliable and fuel-efficient vehicles. The adoption of electric and hybrid trucks, as well as telematics technology, is on the rise. The unique local circumstances, such as narrow roads, influence the design and features of trucks in the market. The underlying macroeconomic factors, including GDP growth and construction activity, also contribute to the growth of 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.