Market Insights Mobility Commercial Vehicles

Trucks - Mozambique

Mozambique

In Mozambique, the Trucks market is projected to reach a total of 1.29k vehicles unit sales by 2024.
This is based on current market trends and expectations.
Looking ahead, it is anticipated that the market will experience a compound annual rate of 2.55% from 2024 to 2030, resulting in a projected market volume of 1.50k vehicles units by the end of 2030.
Interestingly, despite the growth in unit sales, the production of Trucks market in Mozambique is expected to remain at 0.00 units by 2030.
This could potentially indicate the extent to which the Trucks market relies on imports or other sources to meet the demand.
From an international perspective, the majority of Trucks market sales in 2024 are expected to be in China, with a staggering 3,741.00k vehicles units sold.
This highlights the significant market presence and demand for Trucks market in China compared to other countries.
Mozambique's commercial truck market is experiencing a surge in demand due to the country's growing economy and infrastructure development projects.

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Analyst Opinion

The Trucks market in Mozambique has been experiencing significant growth in recent years. Customer preferences have shifted towards larger and more powerful trucks, reflecting a growing demand for heavy-duty vehicles in the country.

Customer preferences: In Mozambique, customers have shown a strong preference for trucks with higher load capacities and greater durability. This can be attributed to the country's growing construction industry, which requires trucks capable of transporting heavy materials and equipment. Additionally, the agricultural sector in Mozambique has been expanding, leading to an increased need for trucks that can transport large quantities of crops and livestock. Customers are also placing a greater emphasis on fuel efficiency and safety features, as they seek to reduce operating costs and ensure the safety of their drivers.

Trends in the market: One of the key trends in the Mozambican truck market is the increasing popularity of Chinese truck brands. Chinese manufacturers have been able to offer competitive prices without compromising on quality, making their trucks an attractive option for customers in Mozambique. This trend is also driven by the Chinese government's efforts to promote its truck brands in international markets. As a result, Chinese trucks have gained a significant market share in Mozambique. Another trend in the market is the growing demand for used trucks. Many customers in Mozambique prefer to purchase used trucks due to their lower cost compared to new vehicles. This trend is particularly prevalent among small and medium-sized enterprises that have budget constraints. The availability of a wide range of used trucks, both locally and from international markets, has further fueled this trend.

Local special circumstances: Mozambique's geographical location and infrastructure development have also played a role in shaping the truck market. The country's extensive road network, including major highways and rural roads, has increased the demand for trucks that can navigate various terrains. Additionally, the country's proximity to major ports has led to an increased demand for trucks for transportation and logistics purposes.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the truck market in Mozambique. The country has experienced steady economic growth in recent years, driven by investments in infrastructure and natural resource development. This has created a demand for trucks to support these industries. Additionally, Mozambique has seen an increase in foreign direct investment, which has boosted economic activity and created a need for trucks to transport goods and materials. In conclusion, the Trucks market in Mozambique is developing in response to customer preferences for larger and more powerful trucks, driven by the country's growing construction and agricultural sectors. The market is also influenced by trends such as the popularity of Chinese truck brands and the demand for used trucks. Local special circumstances, such as Mozambique's infrastructure development and proximity to major ports, further contribute to the growth of the market. Underlying macroeconomic factors, including steady economic growth and increased foreign direct investment, have also played a role in shaping the truck market in Mozambique.

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.