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Japan - Trucks - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Japan - Trucks - Market Analysis, Forecast, Size, Trends and Insights

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Sep 3, 2023

Price of Trucks in Japan Soars to $37,298 per Unit

Japan Truck Export Price in April 2023

In April 2023, the truck price stood at $37,298 per unit (FOB, Japan), stabilizing at the previous month. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2022 an increase of 7.7% month-to-month. As a result, the export price attained the peak level of $42.1M per thousand units. From June 2022 to April 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In April 2023, the country with the highest price was the United States ($50,417 per unit), while the average price for exports to Italy ($26,728 per unit) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.3%), while the prices for the other major destinations experienced mixed trend patterns.

Japan Truck Export Prices By Country (USD Per Unit)
COUNTRYExport Price of Truck in Japan (USD per unit)
Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023
United States48,77647,35648,33749,76449,35450,99049,68252,01250,50050,49539,81842,68950,417
Taiwan (Chinese)42,33349,97551,21446,20939,44644,64545,92840,04142,86042,06038,91135,51442,231
Australia36,97750,24541,78839,03545,31439,36041,59540,61942,39847,10639,42936,05638,062
United Arab Emirates37,65734,51836,56132,07034,45633,06835,61030,48634,18030,86029,82034,04236,040
Mexico44,10145,02547,58941,22948,02835,36244,42539,89438,75135,69648,68038,91935,954
Saudi Arabia39,86142,65039,90438,23338,70035,90934,98832,79137,22034,46336,09436,65933,540
Italy29,34727,13528,91930,55229,53227,37631,86528,36331,45532,61129,88428,54326,728
Average39,08042,09040,44039,81141,32138,78838,84138,29039,55539,97337,70136,80537,298

Japan Truck Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was diesel or semi-diesel trucks of a g.v.w. over 20 tonnes ($223K per unit), while the average price for exports of spark-ignition trucks of a g.v.w. under 5 tonnes ($23,631 per unit) was amongst the lowest.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for the following types: spark-ignition trucks of a g.v.w. over 5 tonnes (+3.4%), while the prices for the other products experienced more modest paces of growth.

Japan Truck Exports

In April 2023, after two months of growth, there was significant decline in overseas shipments of trucks, when their volume decreased by -14.3% to 17K units. In general, exports saw a slight shrinkage. The growth pace was the most rapid in June 2022 with an increase of 23% against the previous month. Over the period under review, the exports reached the peak figure at 20K units in September 2022; however, from October 2022 to April 2023, the exports failed to regain momentum.

In value terms, truck exports reduced to $634M (IndexBox estimates) in April 2023. Overall, exports recorded a mild slump. The pace of growth was the most pronounced in June 2022 when exports increased by 18% m-o-m. Over the period under review, the exports attained the peak figure at 794M units in July 2022; however, from August 2022 to April 2023, the exports stood at a somewhat lower figure.

Japan Truck Exports by Type

Diesel or semi-diesel trucks of a g.v.w. under 5 tonnes (8.2K units), diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes (5.3K units) and spark-ignition trucks of a g.v.w. under 5 tonnes (3.1K units) were the main products of truck exports from Japan, together comprising 98% of total exports. These products were followed by diesel or semi-diesel trucks of a g.v.w. over 20 tonnes, trucks other than diesel or spark-ignition and spark-ignition trucks of a g.v.w. over 5 tonnes, which together accounted for a further 2%.

From April 2022 to April 2023, the biggest increases were in trucks other than diesel or spark-ignition (with a CAGR of 0.0%), while shipments for the other products experienced mixed trend patterns.

In value terms, diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes ($289M), diesel or semi-diesel trucks of a g.v.w. under 5 tonnes ($197M) and diesel or semi-diesel trucks of a g.v.w. over 20 tonnes ($75M) were the most exported types of trucks from Japan worldwide, together accounting for 88% of total exports. These products were followed by spark-ignition trucks of a g.v.w. under 5 tonnes, spark-ignition trucks of a g.v.w. over 5 tonnes and trucks other than diesel or spark-ignition, which together accounted for a further 12%.

Spark-ignition trucks of a g.v.w. over 5 tonnes, with a CAGR of +14.0%, recorded the highest growth rate of the value of exports, in terms of the main product categories over the period under review, while shipments for the other products experienced a decline.

Japan Truck Exports by Country

Australia (2.9K units) was the main destination for truck exports from Japan, accounting for a 17% share of total exports. Moreover, truck exports to Australia exceeded the volume sent to the second major destination, Saudi Arabia (1.4K units), twofold. The third position in this ranking was taken by Taiwan (Chinese) (948 units), with a 5.6% share.

From April 2022 to April 2023, the average monthly growth rate of volume to Australia stood at -3.8%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Saudi Arabia (+2.8% per month) and Taiwan (Chinese) (+1.4% per month).

In value terms, Australia ($112M) remains the key foreign market for truck exports from Japan, comprising 18% of total exports. The second position in the ranking was taken by Saudi Arabia ($45M), with a 7.2% share of total exports. It was followed by Taiwan (Chinese), with a 6.3% share.

From April 2022 to April 2023, the average monthly growth rate of value to Australia totaled -3.5%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Saudi Arabia (+1.3% per month) and Taiwan (Chinese) (+1.4% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the truck market in Japan. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 29104110 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight . 5 tonnes (excluding dumpers for off-highway use)
  • Prodcom 29104130 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight > 5 tonnes but . .20 tonnes (including vans) (excluding dumpers for off-highway use, tractors)
  • Prodcom 29104140 - Goods vehicles with compression-ignition internal combustion piston engine (diesel or semi-diesel), of a gross vehicle weight > .20 tonnes (excluding dumpers designed for offhighway use)
  • Prodcom 29104200 - Goods vehicles, with spark-ignition internal combustion piston engine, other goods vehicles, new

Country coverage:

  • Japan

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Japan
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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