Trucks - Southern Africa | Statista Market Forecast

In Southern Africa, the Trucks market is projected to reach a unit sales of 27.22k vehicles by 2024.
This forecast takes into account the expected annual growth rate (CAGR 2024-2030) of 2.59%, which indicates a increase in sales.
By 2030, the market volume is estimated to reach 31.73k vehicles units, reflecting the potential growth of the Trucks market in the region.
Furthermore, the production of Trucks market is also anticipated to rise significantly, reaching 47.47k vehicles units by 2030.
This highlights the potential for further expansion and development within the Trucks market.
From an international perspective, it is noteworthy that China is expected to dominate the sales figures, with an estimated 3.74m vehicles units sold in 2024.
This indicates the strong presence and demand for Trucks market in the Chinese market.
The demand for heavy duty trucks in Southern Africa is on the rise due to the region's growing construction and mining industries.

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 Southern Africa is experiencing steady growth due to various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Trucks market in Southern Africa are shifting towards vehicles that offer durability, reliability, and versatility.

Customers are looking for trucks that can handle the challenging terrains and harsh weather conditions in the region. Additionally, there is a growing demand for trucks with advanced safety features and fuel efficiency. Customers are also increasingly interested in trucks that offer a comfortable and spacious cabin for long hauls.

One of the key trends in the Trucks market in Southern Africa is the increasing demand for electric and hybrid trucks. As the region focuses on reducing carbon emissions and transitioning towards sustainable transportation, there is a growing interest in electric and hybrid trucks that offer lower emissions and reduced fuel consumption. This trend is driven by both environmental concerns and the desire to reduce operating costs in the long run.

Another trend in the market is the rise of e-commerce and last-mile delivery services, which has increased the demand for smaller trucks and vans. With the growth of online shopping, there is a need for efficient and reliable transportation solutions to deliver products to customers. This has led to an increased demand for smaller trucks and vans that can navigate through congested urban areas and deliver goods in a timely manner.

Local special circumstances in Southern Africa, such as the presence of mining and agriculture industries, also contribute to the growth of the Trucks market. These industries require heavy-duty trucks to transport goods and materials over long distances and rugged terrains. As these industries continue to expand, the demand for trucks is expected to increase.

Underlying macroeconomic factors, such as population growth, urbanization, and infrastructure development, also play a significant role in the growth of the Trucks market in Southern Africa. With a growing population and increasing urbanization, there is a greater need for transportation solutions to support economic activities and facilitate trade. Additionally, investments in infrastructure projects, such as road construction and improvement, further drive the demand for trucks.

In conclusion, the Trucks market in Southern Africa is witnessing growth driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards durable and versatile trucks, the demand for electric and hybrid vehicles, the rise of e-commerce and last-mile delivery services, and the presence of industries such as mining and agriculture are all contributing to the growth of the market. Additionally, population growth, urbanization, and infrastructure development are further fueling the demand for trucks in the region.

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.