Trucks - Pakistan | Statista Market Forecast

The Trucks market in Pakistan is projected to achieve unit sales of 2.16k vehicles by 2024.
It is expected that the annual growth rate (CAGR 2024-2030) will be -2.66%, resulting in a projected market volume of 1.83k vehicles by 2030.
This indicates the potential growth of the Trucks market in the country.
Moreover, the production of Trucks market is estimated to reach 1.58k vehicles by 2030, further highlighting the growth prospects.
Taking an international perspective, it is noteworthy that China is anticipated to dominate the market with sales of 3.74m vehicles units in 2024.
Pakistan's commercial vehicle market is experiencing a significant shift towards more fuel-efficient and environmentally friendly trucks.

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 Pakistan has been experiencing significant growth in recent years. Customer preferences in the Trucks market in Pakistan have been shifting towards more fuel-efficient and environmentally friendly vehicles.

Customers are increasingly looking for trucks that offer better fuel efficiency, lower emissions, and lower maintenance costs. This shift in customer preferences can be attributed to the rising fuel prices and the increasing awareness about the environmental impact of vehicles. One of the key trends in the Trucks market in Pakistan is the increasing demand for smaller trucks.

The demand for smaller trucks is being driven by the need for more maneuverable vehicles that can navigate the narrow and congested streets of Pakistani cities. Additionally, smaller trucks are more fuel-efficient and have lower maintenance costs, which makes them more attractive to customers. Another trend in the Trucks market in Pakistan is the growing popularity of electric trucks.

Electric trucks offer several advantages over traditional diesel trucks, including lower fuel costs, lower maintenance costs, and lower emissions. The government of Pakistan has also been promoting the use of electric vehicles through various incentives and subsidies, which has further contributed to the growing popularity of electric trucks. Local special circumstances in Pakistan, such as the poor state of infrastructure and the challenging terrain, have also influenced the development of the Trucks market.

The poor state of infrastructure, including the lack of well-maintained roads and highways, has created a demand for trucks that can withstand rough terrains and carry heavy loads. Additionally, the challenging terrain in certain parts of Pakistan, such as the mountainous regions in the north, has led to the demand for trucks with high ground clearance and powerful engines. Underlying macroeconomic factors, such as the growing population and the expanding economy, have also contributed to the development of the Trucks market in Pakistan.

The growing population has increased the demand for goods and services, which has led to an increased demand for trucks to transport goods. Additionally, the expanding economy has created opportunities for businesses to expand their operations, which has further increased the demand for trucks. In conclusion, the Trucks market in Pakistan is experiencing significant growth due to shifting customer preferences towards more fuel-efficient and environmentally friendly vehicles, the increasing demand for smaller trucks, the growing popularity of electric trucks, local special circumstances such as the poor state of infrastructure and challenging terrain, and underlying macroeconomic factors such as the growing population and expanding economy.

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.