Portugal: Truck Market 2025

Truck Market Size in Portugal

The Portuguese truck market fell to $X in 2022, reducing by -9.4% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.5% against 2019 indices. Truck consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Truck Production in Portugal

In value terms, truck production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable setback. The pace of growth was the most pronounced in 2013 when the production volume increased by 269%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Truck Exports

Exports from Portugal

In 2022, overseas shipments of trucks increased by 3.1% to X units, rising for the second consecutive year after two years of decline. In general, total exports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.3% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by 35%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, truck exports dropped to $X in 2022. Overall, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.7% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 39% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank slightly in the following year.

Exports by Country

France (X units) was the main destination for truck exports from Portugal, with a 42% share of total exports. Moreover, truck exports to France exceeded the volume sent to the second major destination, Spain (X units), twofold. Italy (X units) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+12.4% per year) and Italy (+10.7% per year).

In value terms, France ($X) remains the key foreign market for trucks exports from Portugal, comprising 46% of total exports. The second position in the ranking was held by Spain ($X), with a 14% share of total exports. It was followed by Germany, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+13.8% per year) and Germany (+0.6% per year).

Export Prices by Country

In 2022, the average truck export price amounted to $X per unit, falling by -7.7% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 14% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Morocco ($X per unit), while the average price for exports to the Netherlands ($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 Germany (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Imports

Imports into Portugal

In 2022, truck imports into Portugal reduced to X units, waning by -13.5% against the previous year. Over the period under review, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, truck imports contracted markedly to $X in 2022. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 59%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, France (X units) constituted the largest truck supplier to Portugal, accounting for a 36% share of total imports. Moreover, truck imports from France exceeded the figures recorded by the second-largest supplier, Spain (X units), threefold. Germany (X units) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+1.5% per year) and Germany (+14.2% per year).

In value terms, France ($X), Spain ($X) and Germany ($X) constituted the largest truck suppliers to Portugal, together accounting for 53% of total imports. Turkey, Sweden, Italy, the Netherlands, Thailand and South Africa lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Sweden, with a CAGR of +44.7%, saw the highest rates of growth with regard to the value of imports, 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, reducing by -6% against the previous year. Over the period under review, the import price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2017 an increase of 6.7% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Turkey ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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