Trucks - Tanzania | Statista Market Forecast

In Tanzania, the Trucks market is expected to see a significant rise in unit sales, with projections indicating a figure of 1.18k vehicles by the year 2024.
The market is also anticipated to display a compound annual growth rate (CAGR 2024-2030) of 2.59%, leading to a projected market volume of 1.38k vehicles units by 2030.
Furthermore, it is worth noting that the production of Trucks market withTanzania is predicted to reach 0.00 units by 2030, which serves as an indication of the market's potential for growth.
From a global perspective, the majority of sales in the Trucks market are anticipated to be attributed to China, with a forecasted figure of 3.74m vehicles units in 2024.
Tanzania's truck market is experiencing a surge in demand for heavy-duty trucks due to the country's growing construction and mining sectors.

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 Tanzania has been experiencing significant growth in recent years. Customer preferences have shifted towards larger and more durable trucks, leading to an increase in demand for heavy-duty vehicles.

Additionally, the market has been influenced by several local special circumstances and underlying macroeconomic factors. Customer preferences in the Tanzanian Trucks market have been shaped by the need for vehicles that can withstand the challenging terrain and transport heavy loads. As a result, there has been a growing demand for trucks with higher horsepower and greater load-carrying capacity.

Customers are also placing a greater emphasis on durability and reliability, as they seek trucks that can withstand the demanding operating conditions in the country. One of the key trends in the Tanzanian Trucks market is the increasing adoption of technology and advanced features. Customers are now looking for trucks that offer improved fuel efficiency, enhanced safety features, and advanced telematics systems.

This trend is driven by the desire to reduce operating costs and improve overall productivity. As a result, truck manufacturers have been incorporating these features into their latest models to cater to the evolving customer preferences. Another trend in the Tanzanian Trucks market is the growing demand for used trucks.

This can be attributed to the cost-conscious nature of many customers who are looking for more affordable options. Additionally, the availability of financing options for used trucks has made them more accessible to a wider customer base. As a result, the used truck segment has been experiencing steady growth in the country.

Local special circumstances in Tanzania have also played a role in shaping the Trucks market. The country's infrastructure development initiatives, such as the construction of new roads and expansion of transportation networks, have increased the demand for trucks. These projects require a large fleet of trucks to transport construction materials and equipment, driving the market growth.

Furthermore, Tanzania's agriculture sector has also contributed to the demand for trucks. The country's agricultural activities, including the transportation of crops and livestock, rely heavily on trucks for efficient and timely delivery. As a result, the agricultural sector has been a key driver of the Trucks market in Tanzania.

Underlying macroeconomic factors, such as population growth and urbanization, have also fueled the development of the Trucks market. The increasing population and urbanization have led to a higher demand for goods and services, which in turn requires an efficient and reliable transportation system. Trucks play a vital role in meeting this demand by facilitating the movement of goods between rural and urban areas.

In conclusion, the Trucks market in Tanzania has been experiencing growth due to customer preferences for larger and more durable trucks, the adoption of technology and advanced features, and the demand for used trucks. Local special circumstances, such as infrastructure development and the agricultural sector, have also contributed to market growth. Additionally, underlying macroeconomic factors, including population growth and urbanization, have further fueled the development of the market.

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.