Trucks - Japan | Statista Market Forecast

In Japan, the Trucks market is anticipated to witness a significant growth in unit sales, with projections indicating a reach of 319.90k vehicles by the year 2024.
Looking ahead, a compound annual rate (CAGR 2024-2030) of 0.55% is expected, leading to a projected market volume of 330.70k vehicles by 2030.
These figures demonstrate the potential for substantial expansion within the Trucks market.
Furthermore, the production of Trucks market is estimated to increase to 464.90k vehicles units by 2030, further illustrating the growth potential of this market.
From an international perspective, it is noteworthy that China is predicted to account for the majority of sales, with an estimated figure of 3.74m vehicles units in 2024.
Japan is leading the way in the commercial vehicles market, with a focus on electric trucks and advanced fuel efficiency technologies.

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 Japan has been experiencing steady 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 Japan have been shifting towards more fuel-efficient and eco-friendly vehicles.

This is in line with global trends, as customers become more conscious of the environmental impact of their vehicles. Additionally, there is a growing demand for trucks that offer advanced safety features and technology, as well as trucks that are versatile and suitable for various purposes. In terms of market trends, there has been an increasing adoption of electric and hybrid trucks in Japan.

This can be attributed to the government's push for cleaner and more sustainable transportation solutions. The government has implemented various incentives and subsidies to encourage the use of electric and hybrid vehicles, which has had a positive impact on the Trucks market. Furthermore, there is a growing trend towards the use of autonomous trucks, as companies look for ways to improve efficiency and reduce costs in their logistics operations.

Local special circumstances in Japan also play a role in the development of the Trucks market. Japan is known for its aging population, which has led to a shortage of truck drivers. To address this issue, there has been a focus on developing autonomous trucks that can operate without human intervention.

Additionally, Japan has a well-developed infrastructure, including an extensive network of highways and roads, which makes it an attractive market for truck manufacturers. Underlying macroeconomic factors also contribute to the growth of the Trucks market in Japan. The country has a strong manufacturing sector, which requires efficient transportation of goods.

As the economy continues to recover and expand, there is a higher demand for trucks to support the movement of goods across the country. Furthermore, Japan is also a major exporter of automobiles and other goods, which further drives the demand for trucks. In conclusion, the Trucks market in Japan is experiencing growth due to customer preferences for fuel-efficient and eco-friendly vehicles, market trends towards electric and autonomous trucks, local special circumstances such as an aging population and well-developed infrastructure, and underlying macroeconomic factors such as a strong manufacturing sector and export market.

These factors are likely to continue driving the growth of the Trucks market in Japan in the coming years.

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.