Estonia: Truck Market 2020

Truck Market Size in Estonia

The revenue of the truck market in Estonia amounted to $X in 2018, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, truck consumption, however, continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2011 with an increase of X% year-to-year. Estonia truck consumption peaked at $X in 2007; however, from 2008 to 2018, consumption stood at a somewhat lower figure.

Truck Exports

Exports from Estonia

In 2018, the exports of trucks from Estonia stood at X units, rising by X% against the previous year. Over the period under review, truck exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% y-o-y. In that year, truck exports reached their peak and are likely to continue its growth in the immediate term.

In value terms, truck exports amounted to $X in 2018. In general, truck exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2011 when exports increased by X% year-to-year. Estonia exports peaked in 2018 and are expected to retain its growth in the near future.

Exports by Country

In 2018, Thailand (X units) represented the main exporter of trucks, creating X% of total exports. Mexico (X units) took a X% share (based on tons) of total exports, which put it in second place, followed by the U.S. (X%). The following exporters - Japan (X units), France (X units), Germany (X units), Turkey (X units), Italy (X units), Spain (X units), South Africa (X units), Belgium (X units) and Argentina (X units) - together made up X% of total exports.

Thailand was also the fastest-growing in terms of the trucks exports, with a CAGR of +X% from 2007 to 2018. At the same time, Argentina (+X%), France (+X%), Turkey (+X%), Belgium (+X%) and South Africa (+X%) displayed positive paces of growth. By contrast, Japan (-X%), Spain (-X%), Mexico (-X%), Italy (-X%), Germany (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. Thailand (+X p.p.) significantly strengthened its position in terms of the global exports, while Germany, the U.S. and Mexico saw its share reduced by -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest truck markets from Estonia were Mexico ($X), the U.S. ($X) and Germany ($X), together comprising X% of total exports. Thailand, France, Japan, Spain, Italy, Turkey, Belgium, Argentina, South Africa and Estonia lagged somewhat behind, together comprising a further X terms of the main exporting countries, South Africa recorded the highest rates of growth with regard to exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the truck export price in Estonia amounted to $X per unit, lowering by -X% against the previous year. Overall, the truck export price continues to indicate a slight descent. The pace of growth was the most pronounced in 2010 an increase of X% against the previous year. Over the period under review, the export prices for trucks attained their maximum at $X per unit in 2011; however, from 2012 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the U.S. ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced more modest paces of growth.

Truck Imports

Imports into Estonia

Truck imports into Estonia totaled X units in 2018, increasing by X% against the previous year. In general, truck imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Over the period under review, truck imports reached their maximum in 2018 and are expected to retain its growth in the immediate term.

In value terms, truck imports amounted to $X in 2018. Overall, truck imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Over the period under review, truck imports attained their maximum at $X in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

Imports by Country

The Philippines was the key importing country with an import of around X units, which accounted for X% of total imports. It was distantly followed by the U.S. (X units) and Canada (X units), together generating a X% share of total imports. The UK (X units), France (X units), Australia (X units), Germany (X units) and Belgium (X units) held a relatively small share of total imports.

The Philippines was also the fastest-growing in terms of the trucks imports, with a CAGR of +X% from 2007 to 2018. At the same time, Canada (+X%), Australia (+X%), the U.S. (+X%) and Belgium (+X%) displayed positive paces of growth. France, the UK and Germany experienced a relatively flat trend pattern. While the share of the Philippines (+X p.p.), Canada (+X p.p.) and the U.S. (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest truck importing markets into Estonia were the U.S. ($X), Canada ($X) and the UK ($X), with a combined X% share of total imports. France, Australia, Germany, Belgium, the Philippines and Estonia lagged somewhat behind, together comprising a further X Philippines experienced the highest growth rate of imports, among the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the truck import price in Estonia amounted to $X per unit, going down by -X% against the previous year. Over the period under review, the truck import price continues to indicate a slight descent. The most prominent rate of growth was recorded in 2009 when the import price increased by X% against the previous year. In that year, the import prices for trucks attained their peak level of $X per unit. From 2010 to 2018, the growth in terms of the import prices for trucks failed to regain its momentum.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Germany ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the UK, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform