Trucks - Southern Europe | Statista Market Forecast

Sales in the Trucks market in Southern Europe are projected to reach 116.90k vehicles units in 2024.
The market is expected to exhibit a compound annual rate of 2.62% (CAGR 2024-2030), resulting in a projected market volume of 136.50k vehicles units by 2030.
This signifies the potential growth of the Trucks market in the region.
Furthermore, the production of Trucks market is anticipated to reach 328.60k vehicles units by 2030, further highlighting the growth potential.
From an international perspective, it is evident that China will dominate the market with sales reaching 3.74m vehicles units in 2024.
The truck market in Southern Europe is experiencing a growing demand for electric vehicles due to increasing environmental regulations in countries like Spain, Italy, and Portugal.

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 Europe 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 Southern Europe have been shifting towards more fuel-efficient and environmentally friendly vehicles.

With increasing awareness about climate change and stricter emissions regulations, customers are opting for trucks that have lower carbon footprints. This has led to a rise in the demand for electric and hybrid trucks in the region. Additionally, customers are also looking for trucks that offer advanced safety features and improved connectivity options.

In terms of market trends, the Trucks market in Southern Europe is witnessing a rise in the adoption of digital technologies. Truck manufacturers are incorporating advanced telematics systems and connectivity solutions in their vehicles to enhance fleet management and optimize operational efficiency. This trend is driven by the need for real-time data monitoring, predictive maintenance, and route optimization.

Another trend in the market is the increasing demand for light commercial vehicles (LCVs) in urban areas. With the growth of e-commerce and last-mile delivery services, there is a greater need for smaller and more maneuverable trucks to navigate congested city streets. This trend is particularly prominent in Southern European countries with dense urban populations.

Local special circumstances also play a role in shaping the Trucks market in Southern Europe. For example, countries like Spain and Italy have a strong agricultural sector, which drives the demand for specialized trucks for farming and agricultural purposes. These trucks are designed to transport agricultural products, livestock, and heavy machinery, meeting the specific needs of the local agricultural industry.

Underlying macroeconomic factors also contribute to the development of the Trucks market in Southern Europe. Economic growth, industrialization, and infrastructure development are key drivers of truck sales in the region. As economies grow, there is an increased demand for trucks to transport goods and materials, both domestically and internationally.

Additionally, government investments in infrastructure projects, such as road construction and expansion, also boost the demand for trucks. In conclusion, the Trucks market in Southern Europe is experiencing growth due to customer preferences for fuel-efficient and technologically advanced vehicles, market trends towards digitalization and urbanization, local special circumstances in the agricultural sector, and underlying macroeconomic factors such as economic growth and infrastructure development. These factors collectively contribute to the evolving landscape of the Trucks market in Southern Europe.

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.