Trucks - Malta | Statista Market Forecast

In 2024, the Trucks market in Malta is projected to reach unit sales of 1.77k vehicles.
This market is expected to experience a compound annual rate (CAGR 2024-2030) of 4.05%, leading to a projected market volume of 2.25k vehicles by 2030.
It is worth noting that the production of Trucks market in Malta is expected to reach 0.00 by 2030, indicating the potential for significant growth in this market.
From an international perspective, China is anticipated to be the leading market with sales of 3.74m vehicles units in 2024.
Malta's commercial vehicle market for trucks is experiencing a surge in demand due to the country's thriving construction and logistics sectors.

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 Malta has seen significant growth in recent years, driven by changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Trucks market in Malta have shifted towards more fuel-efficient and environmentally friendly vehicles.

With increasing concerns about climate change and rising fuel costs, customers are looking for trucks that offer better fuel efficiency and lower emissions. This has led to a growing demand for electric and hybrid trucks, as well as trucks with advanced fuel-saving technologies. In addition to fuel efficiency, customers in Malta also value safety features in trucks.

With a focus on improving road safety, customers are looking for trucks that are equipped with advanced safety technologies such as collision avoidance systems, lane departure warning systems, and adaptive cruise control. These features not only help prevent accidents but also reduce the severity of collisions, making trucks safer for both drivers and pedestrians. Another trend in the Trucks market in Malta is the increasing demand for trucks with advanced connectivity features.

Customers are looking for trucks that are equipped with telematics systems, which allow for real-time monitoring of vehicle performance, fuel consumption, and maintenance needs. This connectivity enables fleet managers to optimize operations, reduce downtime, and improve overall efficiency. Local special circumstances in Malta also play a role in shaping the Trucks market.

The small size of the island nation and its narrow roads require trucks that are compact and maneuverable. Customers in Malta prefer trucks that are easy to navigate through tight spaces and can access narrow streets and alleys. This has led to a growing demand for smaller trucks and vans, especially in urban areas.

Underlying macroeconomic factors also contribute to the development of the Trucks market in Malta. The country's strong economy and increasing construction activities have led to a higher demand for trucks in the construction and logistics sectors. Malta's strategic location in the Mediterranean also makes it an important transportation hub, further driving the demand for trucks.

In conclusion, the Trucks market in Malta is experiencing growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customers in Malta are increasingly looking for fuel-efficient, safe, and connected trucks. The small size of the country and its narrow roads also influence customer preferences, leading to a higher demand for smaller trucks and vans.

Additionally, Malta's strong economy and strategic location contribute to the growth of the Trucks market.

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.