United Kingdom: Truck Market 2025

Truck Market Size in the UK

The UK truck market dropped to $X in 2022, waning by -8.5% against the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +32.2% against 2020 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Truck Production in the UK

In value terms, truck production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 19%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Truck Exports

Exports from the UK

In 2022, approx. X units of trucks were exported from the UK; jumping by 30% compared with the previous year. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, truck exports soared to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2012; afterwards, it flattened through to 2022.

Exports by Country

France (X units) was the main destination for truck exports from the UK, accounting for a 27% share of total exports. Moreover, truck exports to France exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was held by Namibia (X units), with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-1.3% per year) and Namibia (+12.2% per year).

In value terms, the largest markets for truck exported from the UK were France ($X), the Netherlands ($X) and Germany ($X), with a combined 45% share of total exports. These countries were followed by Ireland, Spain, Italy, Belgium, Turkey, Namibia, Guyana, Zimbabwe and Nigeria, which together accounted for a further 24%.

Turkey, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average truck export price amounted to $X per unit, rising by 2.9% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 9.2% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Imports

Imports into the UK

In 2022, imports of trucks into the UK shrank sharply to X units, reducing by -18.3% on the previous year's figure. In general, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, truck imports dropped modestly to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 50% against the previous year. As a result, imports reached the peak of $X, and then contracted modestly in the following year.

Imports by Country

Turkey (X units), Italy (X units) and Germany (X units) were the main suppliers of truck imports to the UK, together accounting for 52% of total imports. These countries were followed by France, Poland, South Africa, Spain, Japan, Thailand and the Netherlands, which together accounted for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +112.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck suppliers to the UK were Turkey ($X), Germany ($X) and France ($X), with a combined 52% share of total imports. These countries were followed by Italy, South Africa, Poland, Spain, the Netherlands, Japan and Thailand, which together accounted for a further 43%.

Japan, with a CAGR of +116.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average truck import price amounted to $X per unit, surging by 20% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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