Market Insights Mobility Commercial Vehicles

Trucks - Americas

Americas

The Trucks market in Americas is projected to reach a unit sales of 0.65m vehicles in 2024.
With an expected annual growth rate (CAGR 2024-2030) of 1.72%, the unit sales are projected to reach 0.72m vehicles by 2030.
This indicates the potential growth of the Trucks market in the region.
Moreover, the production of Trucks market is expected to reach 0.77m vehicles by 2030, further highlighting the growth potential.
When considering the international market, in China is expected to dominate with the highest sales of 3,741.00k vehicles units in 2024.
This showcases the significance of the Chinese market in the Trucks market.
In the Americas, the truck market is experiencing a surge in demand due to the booming construction industry.

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Analyst Opinion

The Trucks market in Americas is experiencing significant growth and development. Customer preferences in the Trucks market in Americas are shifting towards more fuel-efficient and environmentally friendly vehicles.

Customers are increasingly seeking trucks that have lower emissions and better fuel economy. This trend is driven by a growing awareness of the environmental impact of vehicles and a desire to reduce operating costs. Additionally, customers are demanding trucks that offer advanced safety features and improved connectivity options.

One of the key trends in the market is the increasing demand for electric trucks. With the rising concern over climate change and the need to reduce greenhouse gas emissions, many customers are opting for electric trucks as a more sustainable alternative to traditional diesel-powered vehicles. The development of charging infrastructure and advancements in battery technology have made electric trucks a viable option for many customers in the Americas.

Another trend in the Trucks market in Americas is the growing popularity of autonomous trucks. Customers are attracted to the potential cost savings and increased efficiency that autonomous trucks can offer. These vehicles have the ability to operate without a human driver, which can lead to reduced labor costs and improved productivity.

Additionally, autonomous trucks can be programmed to optimize fuel efficiency and reduce emissions, further appealing to customers' preferences for environmentally friendly vehicles. Local special circumstances in the Trucks market in Americas also play a role in its development. For example, in North America, the demand for trucks is driven by the construction and logistics industries.

The growth of e-commerce has also contributed to the increased demand for trucks in the region, as more goods need to be transported across the vast distances of the Americas. In South America, the demand for trucks is influenced by the agricultural sector, as trucks are used for transporting crops and livestock. Underlying macroeconomic factors are also contributing to the growth of the Trucks market in Americas.

Economic growth in the region is leading to increased construction activity and infrastructure development, which in turn drives the demand for trucks. Additionally, favorable government policies and incentives for the adoption of electric and autonomous vehicles are further fueling the growth of the market. Overall, the Trucks market in Americas is experiencing a shift towards more fuel-efficient and environmentally friendly vehicles, with a growing demand for electric and autonomous trucks.

This trend is driven by customer preferences for sustainability, safety, and cost savings. The local special circumstances in the Americas, such as the construction and logistics industries in North America and the agricultural sector in South America, also contribute to the development of the market. Additionally, underlying macroeconomic factors such as economic growth and government policies play a role in the growth of the Trucks market in Americas.

Methodology

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.