Trucks - Zimbabwe | Statista Market Forecast

In 2024, the Trucks market in Zimbabwe is projected to reach a total of 1.08k vehicles unit sales.
Looking ahead, it is expected to experience a moderate annual growth rate of 2.58% (CAGR 2024-2030), resulting in a projected market volume of 1.25k vehicles units by 2030.
This indicates the potential for gradual expansion within the Trucks market.
Furthermore, the production of Trucks market in Zimbabwe is anticipated to reach a significant figure of 35.46k vehicles units by 2030.
This highlights the potential growth and capacity of the Trucks market in the country.
Taking an international perspective, it is worth noting that China is expected to dominate the Trucks market in 2024, with projected sales reaching a substantial figure of 3.74m vehicles units.
This underscores China's prominent position in the global Trucks market.
Despite economic challenges, Zimbabwe is experiencing a rise in demand for heavy-duty trucks, driven by increased investment in the mining and agricultural 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 Zimbabwe is experiencing significant growth and development. Customer preferences are shifting towards more fuel-efficient and environmentally friendly trucks.

There is also a growing demand for trucks with advanced safety features and improved technology. Customer preferences in the Trucks market in Zimbabwe are changing due to several factors. One of the main factors is the increasing concern for the environment and the need to reduce carbon emissions.

Customers are now looking for trucks that are more fuel-efficient and emit fewer pollutants. This has led to a rise in the demand for electric and hybrid trucks in the market. Another customer preference in the Trucks market in Zimbabwe is the demand for trucks with advanced safety features.

Customers are increasingly concerned about the safety of their drivers and cargo, and are willing to invest in trucks that offer better safety features such as lane departure warning systems, adaptive cruise control, and automatic emergency braking. In addition, customers in the Trucks market in Zimbabwe are also looking for trucks with improved technology. This includes features such as telematics systems that provide real-time information about the truck's performance, fuel efficiency, and maintenance needs.

Customers are also interested in trucks that offer connectivity options, allowing them to integrate their trucks with other systems and devices for improved efficiency and productivity. The Trucks market in Zimbabwe is also influenced by local special circumstances. One of these circumstances is the country's infrastructure.

Zimbabwe has a relatively underdeveloped road network, with many roads in poor condition. This has led to a demand for trucks that are durable and can withstand the challenging road conditions. Customers are looking for trucks with robust suspension systems and strong chassis that can handle rough terrains.

Another local special circumstance in the Trucks market in Zimbabwe is the availability of spare parts and maintenance services. Customers are more likely to choose trucks from manufacturers that have a strong presence in the country and offer reliable after-sales support. This includes easy access to spare parts and a network of service centers.

The growth and development of the Trucks market in Zimbabwe are also influenced by underlying macroeconomic factors. The country's economy has been recovering in recent years, leading to an increase in construction and infrastructure projects. This has created a higher demand for trucks for transportation of construction materials and equipment.

Furthermore, the government of Zimbabwe has implemented policies to support the growth of the manufacturing sector, which includes the production of trucks. This has attracted both local and foreign investments in the Trucks market, leading to increased production and availability of trucks in the country. In conclusion, the Trucks market in Zimbabwe is witnessing a shift in customer preferences towards more fuel-efficient, safer, and technologically advanced trucks.

Local special circumstances such as the country's infrastructure and availability of spare parts also play a role in shaping the market. The underlying macroeconomic factors, including the recovery of the economy and government support for the manufacturing sector, are driving the growth and 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.