Trucks - Lebanon | Statista Market Forecast

In 2024, unit sales in the Trucks market in Lebanon are projected to reach 9.42k vehicles.
It is expected that these unit sales will show a compound annual rate of 2.59% from 2024 to 2030, resulting in a projected market volume of 10.98k vehicles by 2030.
This indicates the potential growth of the Trucks market in Lebanon.
Interestingly, the production of Trucks market is expected to reach 0.00 in 2030, further highlighting the market's growth potential.
From an international perspective, it is noteworthy that China will account for the majority of sales in 2024, with a total of 3.74m vehicles units.
The demand for heavy-duty trucks in Lebanon is increasing due to the growing construction and infrastructure projects in the country.

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 Lebanon has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Trucks market have shifted towards more fuel-efficient and environmentally friendly vehicles.

Customers are increasingly looking for trucks that offer better fuel economy and lower emissions, in line with global trends towards sustainability. Additionally, there is a growing demand for trucks that can handle off-road conditions and rough terrains, as Lebanon has diverse landscapes and challenging road conditions. One of the key trends in the Trucks market in Lebanon is the increasing adoption of electric and hybrid trucks.

As the government and environmental organizations promote the use of clean energy, more customers are opting for electric or hybrid trucks to reduce their carbon footprint. This trend is expected to continue as the infrastructure for electric vehicles improves and the cost of electric trucks becomes more competitive. Another trend in the market is the rising popularity of light-duty trucks.

These trucks are smaller in size and offer better maneuverability, making them suitable for urban areas with narrow streets and limited parking spaces. With Lebanon's urban population increasing, there is a growing demand for light-duty trucks for transportation and delivery services. Local special circumstances also play a role in shaping the Trucks market in Lebanon.

The country's geography, with its mountainous regions and challenging terrains, requires trucks that are capable of handling such conditions. This has led to a higher demand for trucks with off-road capabilities and robust construction. Additionally, Lebanon's construction industry, which is a significant driver of the economy, relies heavily on trucks for transportation of materials and equipment.

Underlying macroeconomic factors, such as economic growth and government policies, also influence the Trucks market in Lebanon. As the economy grows, there is an increased demand for trucks for various industries, including construction, agriculture, and logistics. Government policies that support infrastructure development and trade also contribute to the growth of the Trucks market.

In conclusion, the Trucks market in Lebanon is witnessing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards more fuel-efficient and environmentally friendly trucks, the adoption of electric and hybrid trucks, the popularity of light-duty trucks, and the demand for trucks with off-road capabilities are driving the market forward. With the country's geography and economic growth, the Trucks market in Lebanon is expected to continue its upward trajectory.

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.