Trucks - Southeast Asia | Statista Market Forecast

The Trucks market in Southeast Asia is projected to reach a unit sales figure of 121.50k vehicles in 2024.
This market is expected to experience a compound annual rate of -1.19% between 2024 and 2030, resulting in a projected market volume of 113.10k vehicles by 2030.
This growth in unit sales showcases the potential for expansion in the Trucks market.
Looking at the international landscape, China is expected to dominate the market in 2024 with sales reaching 3.74m vehicles units.
In Southeast Asia, the demand for trucks in the commercial vehicles market is on the rise due to the region's growing logistics and transportation industry.

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 Southeast Asia has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Trucks market in Southeast Asia have been shifting 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 hybrid and electric trucks in the region. Additionally, customers in Southeast Asia also value trucks that are durable, reliable, and easy to maintain, as these factors contribute to lower operating costs.

In terms of market trends, the Trucks market in Southeast Asia has been witnessing a rise in the demand for light commercial vehicles (LCVs). LCVs are smaller trucks that are suitable for urban areas with limited space and narrow roads. They are commonly used for goods delivery and transportation services in congested cities.

The increasing urbanization and e-commerce boom in Southeast Asia have fueled the demand for LCVs, as they provide a cost-effective and efficient solution for last-mile delivery. Another trend in the Trucks market in Southeast Asia is the adoption of advanced driver assistance systems (ADAS) and telematics technology. ADAS technologies, such as lane departure warning, adaptive cruise control, and automatic emergency braking, enhance the safety and efficiency of trucks.

Telematics technology, on the other hand, allows fleet operators to monitor and manage their vehicles in real-time, leading to improved fleet management and cost savings. Local special circumstances also play a role in shaping the Trucks market in Southeast Asia. For example, in countries with large agricultural sectors, such as Thailand and Indonesia, there is a high demand for trucks that are specifically designed for agricultural purposes, such as transporting crops and livestock.

In countries with mountainous terrain, such as Vietnam and the Philippines, there is a need for trucks with high ground clearance and off-road capabilities. Underlying macroeconomic factors, such as economic growth and infrastructure development, also contribute to the growth of the Trucks market in Southeast Asia. As the economies in the region continue to grow, there is an increasing need for trucks to support various industries, including construction, manufacturing, and logistics.

Additionally, governments in Southeast Asia are investing in infrastructure projects, such as road and rail networks, which require a large number of trucks for transportation and construction purposes. In conclusion, the Trucks market in Southeast Asia is experiencing growth due to customer preferences for fuel-efficient and reliable vehicles, market trends such as the demand for LCVs and adoption of ADAS and telematics technology, local special circumstances, and underlying macroeconomic factors. As the region continues to develop and urbanize, the demand for trucks is expected to further increase in the coming years.

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.