Report Update Nov 1, 2024

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

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Colombia: Truck Market 2024

Truck Exports

Exports from Colombia

In 2022, truck exports from Colombia contracted rapidly to X units, shrinking by -16.4% against the previous year. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 89% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, truck exports reduced remarkably to $X in 2022. In general, exports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 78% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X units) was the main destination for truck exports from Colombia, with a approx. 97% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Ecuador was relatively modest.

In value terms, Ecuador ($X) also remains the key foreign market for trucks exports from Colombia.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled -4.9%.

Export Prices by Country

In 2022, the average truck export price amounted to $X per unit, remaining constant against the previous year. In general, the export price, however, continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2014 an increase of 13%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Ecuador.

From 2012 to 2022, the rate of growth in terms of prices for Ecuador amounted to -5.0% per year.

Truck Imports

Imports into Colombia

In 2022, imports of trucks into Colombia declined dramatically to X units, which is down by -19% compared with the previous year. Overall, imports recorded a slight decrease. The pace of growth appeared the most rapid in 2021 with an increase of 61%. As a result, imports attained the peak of X units, and then dropped rapidly in the following year.

In value terms, truck imports shrank dramatically to $X in 2022. In general, imports recorded a pronounced decline. The pace of growth appeared the most rapid in 2021 with an increase of 66%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Argentina (X units), China (X units) and Mexico (X units) were the main suppliers of truck imports to Colombia, with a combined 73% share of total imports. Brazil, Ecuador, Thailand, Japan and South Korea lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +23.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest truck suppliers to Colombia were China ($X), Argentina ($X) and Mexico ($X), together comprising 70% of total imports. Brazil, Japan, Ecuador, Thailand and South Korea lagged somewhat behind, together comprising a further 24%.

Brazil, with a CAGR of +17.1%, saw the highest growth rate of the value of imports, in terms of 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, approximately reflecting the previous year. In general, the import price recorded a noticeable slump. The most prominent rate of growth was recorded in 2014 an increase of 10% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 South Korea ($X per unit), while the price for Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for trucks in the world?

The country with the largest volume of truck consumption was Saudi Arabia, accounting for 86% of total volume. Moreover, truck consumption in Saudi Arabia exceeded the figures recorded by the second-largest consumer, China, more than tenfold. The United States ranked third in terms of total consumption with a 1.8% share.

What are the largest producers of trucks in the world?

The countries with the highest volumes of truck production in 2020 were China, Japan and Mexico, with a combined 56% share of global production.

What are the leading suppliers of trucks to Colombia?

In value terms, the largest truck suppliers to Colombia were Argentina, China and Mexico, with a combined 73% share of total imports. Brazil, Ecuador, the United States and India lagged somewhat behind, together comprising a further 19%.

What are the leading importers of trucks from Colombia?

In value terms, Ecuador remains the key foreign market for truck exports from Colombia, comprising 95% of total exports. The second position in the ranking was occupied by Argentina, with a 4.6% share of total exports.

What is the average export price for trucks in Colombia?

The average truck export price stood at $34,091 per unit in 2020, declining by -2.8% against the previous year.

What is the average import price for trucks in Colombia?

In 2020, the average truck import price amounted to $20,574 per unit, growing by 2% against the previous year.

This report provides an in-depth analysis of the truck market in Colombia. 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:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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