Trucks - Taiwan | Statista Market Forecast

In Taiwan, the Trucks market is anticipated to witness a significant growth in unit sales, projected to reach 9.69k vehicles by 2024.
The market is expected to exhibit a compound annual rate (CAGR 2024-2030) of 0.03%, leading to a projected market volume of 9.71k vehicles by 2030.
This indicates the potential for further expansion in the Trucks market.
Notably, the production of Trucks market is anticipated to surge to 5.13k vehicles units by 2030, showcasing the market's capacity for growth.
When considering the global landscape, it is evident that China will account for the majority of sales in 2024, with an estimated figure of 3.74m vehicles units.
Taiwan's truck market is experiencing a surge in demand for electric trucks, driven by the government's push for green transportation.

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 Taiwan is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Trucks market in Taiwan are influenced by several factors.

Firstly, there is a growing demand for trucks with advanced technological features and improved fuel efficiency. Customers are increasingly looking for vehicles that can optimize their transportation operations and reduce operating costs. Additionally, there is a preference for trucks that offer a comfortable and spacious cabin, as well as enhanced safety features.

In terms of market trends, there is a shift towards electric trucks in Taiwan. This trend is driven by the government's push towards reducing carbon emissions and promoting sustainable transportation solutions. Electric trucks offer lower operating costs and have a smaller environmental impact compared to traditional diesel trucks.

As a result, there is an increasing number of companies and individuals opting for electric trucks in Taiwan. Another trend in the Trucks market in Taiwan is the rise of e-commerce and last-mile delivery services. With the growth of online shopping, there is a higher demand for trucks that can efficiently deliver goods to customers' doorsteps.

This has led to an increased demand for smaller and more agile trucks that can navigate through congested urban areas and make timely deliveries. Local special circumstances also play a role in the development of the Trucks market in Taiwan. The island's geography, characterized by mountainous terrain and narrow roads, requires trucks that are specifically designed to navigate these challenging conditions.

As a result, there is a demand for trucks with robust suspension systems, powerful engines, and excellent maneuverability. Underlying macroeconomic factors also contribute to the growth of the Trucks market in Taiwan. The country's strong economic performance and stable business environment have created favorable conditions for businesses to invest in the transportation sector.

Additionally, government initiatives to improve infrastructure and promote trade have further boosted the demand for trucks in Taiwan. In conclusion, the Trucks market in Taiwan is witnessing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for technologically advanced and fuel-efficient trucks, the rise of electric trucks, the growth of e-commerce and last-mile delivery services, the unique geography of the island, and the favorable macroeconomic conditions all contribute to the positive outlook for the Trucks market in Taiwan.

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.