Trucks - Zambia | Statista Market Forecast

In 2024, the projected unit sales in the Trucks market in Zambia are expected to reach 1.94k vehicles.
This market is anticipated to experience a compound annual rate (CAGR 2024-2030) of 2.59%, leading to a projected market volume of 2.26k vehicles by 2030.
Interestingly, the production of Trucks market in Zambia is predicted to reach 0.00 in 2030, suggesting the potential for significant growth in this market.
From an international perspective, it is noteworthy that China is expected to account for the majority of sales, with a projected figure of 3.74m vehicles units in 2024.
Zambia is experiencing a growing demand for heavy-duty trucks in its commercial vehicles market due to increasing infrastructure development projects.

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 Zambia has been experiencing significant growth in recent years. Customer preferences in the Trucks market in Zambia have been shifting towards larger and more powerful vehicles.

This can be attributed to the country's growing construction and mining sectors, which require heavy-duty trucks to transport materials and equipment. Additionally, there is a demand for trucks with higher load capacities to meet the needs of the agricultural industry, which plays a significant role in Zambia's economy. One of the trends in the market is the increasing popularity of trucks with advanced technology features.

Customers in Zambia are increasingly looking for trucks that offer better fuel efficiency, improved safety features, and enhanced connectivity options. This trend is in line with the global market, where technological advancements are driving the development of more advanced and efficient trucks. Another trend in the market is the growing demand for electric trucks.

While the adoption of electric trucks is still in its early stages in Zambia, there is a growing awareness of the environmental benefits of electric vehicles. As the country looks to reduce its carbon footprint and transition towards cleaner energy sources, the demand for electric trucks is expected to increase. Local special circumstances in Zambia, such as the country's challenging road conditions, also influence the Trucks market.

Customers in Zambia require trucks that are built to withstand rough terrains and can handle heavy loads. This has led to an increased demand for trucks with robust suspension systems, durable tires, and powerful engines. Underlying macroeconomic factors, such as economic growth and infrastructure development, also contribute to the development of the Trucks market in Zambia.

As the country continues to invest in infrastructure projects, there is a growing need for trucks to transport construction materials and equipment. Additionally, the growth of the mining and agricultural sectors further drives the demand for trucks in the country. In conclusion, the Trucks market in Zambia is experiencing growth due to customer preferences for larger and more powerful vehicles, the demand for advanced technology features, and the increasing popularity of electric trucks.

Local special circumstances, such as challenging road conditions, also influence the market. Furthermore, underlying macroeconomic factors, such as economic growth and infrastructure development, contribute to 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.