Trucks - Morocco | Statista Market Forecast

In Morocco, the Trucks market is anticipated to witness a remarkable growth, with unit sales projected to reach 444.00vehicles by 2024.
This positive trend is further expected to continue with a compound annual rate of 0.15% (CAGR 2024-2030), resulting in a projected market volume of 448.00vehicles by 2030.
These figures highlight the potential for significant expansion in the Trucks market.
Furthermore, the production of Trucks market is also expected to experience substantial growth, reaching 0.00 by 2030.
This indicates the potential for further development and expansion within the Trucks market in Morocco.
From an international perspective, it is evident that China will play a significant role in the Trucks market, with sales projected to reach 3.74m vehicles units by 2024.
This showcases the dominance of China in terms of market demand and highlights the importance of the Chinese market in the global Trucks market industry.
Morocco's commercial vehicle market is witnessing a surge in demand for trucks, driven by the country's booming 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 Morocco has been experiencing significant growth in recent years. Customer preferences in the Trucks market in Morocco have been shifting towards more fuel-efficient and environmentally-friendly vehicles.

Customers are increasingly looking for trucks that offer better fuel economy and lower emissions. This trend is driven by both environmental concerns and the rising cost of fuel. As a result, there is a growing demand for hybrid and electric trucks in Morocco.

Another customer preference in the Trucks market in Morocco is for trucks with advanced safety features. Customers are increasingly concerned about road safety and are willing to pay a premium for trucks that offer features such as automatic emergency braking, lane departure warning, and blind spot detection. This trend is driven by a combination of stricter safety regulations and a growing awareness of the importance of road safety.

In addition to these customer preferences, there are several trends in the Trucks market in Morocco that are shaping its development. One trend is the increasing popularity of light commercial vehicles. These vehicles are smaller and more maneuverable than traditional trucks, making them well-suited for urban areas with narrow streets and limited parking space.

The demand for light commercial vehicles is also driven by the growth of e-commerce and the need for efficient last-mile delivery solutions. Another trend in the Trucks market in Morocco is the growing adoption of telematics technology. Telematics allows truck owners to track and monitor their vehicles in real-time, improving fleet management and reducing operating costs.

This technology is particularly valuable in the logistics industry, where efficiency and cost savings are crucial. Local special circumstances in Morocco also play a role in the development of the Trucks market. One special circumstance is the country's strategic location as a gateway between Europe and Africa.

Morocco has a well-developed transportation infrastructure, including ports, highways, and railways, which makes it an attractive market for truck manufacturers and logistics companies. Furthermore, Morocco has been investing heavily in renewable energy, with a focus on solar power. This has led to a decrease in the cost of electricity, making electric trucks more economically viable.

The government has also implemented policies to promote the use of electric vehicles, including tax incentives and subsidies. These factors have contributed to the growing demand for electric trucks in Morocco. Underlying macroeconomic factors, such as population growth, urbanization, and economic development, are also driving the growth of the Trucks market in Morocco.

As the population continues to grow and more people move to urban areas, the demand for goods and services increases, leading to a greater need for trucks and transportation infrastructure. In conclusion, the Trucks market in Morocco is developing in response to changing customer preferences, including a focus on fuel efficiency and safety. The market is also influenced by trends such as the increasing popularity of light commercial vehicles and the adoption of telematics technology.

Local special circumstances, such as Morocco's strategic location and investment in renewable energy, further contribute to the market's growth. Finally, underlying macroeconomic factors, such as population growth and urbanization, are driving the increasing demand for trucks in Morocco.

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.