Romania: Truck Market 2024

Truck Market Size in Romania

The Romanian truck market expanded slightly to $X in 2022, surging by 2.7% against the previous year. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +0.5% against 2019 indices. Truck consumption peaked in 2022 and is expected to retain growth in years to come.

Truck Production in Romania

In value terms, truck production totaled $X in 2022 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.0% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 38%. Truck production peaked at $X in 2014; afterwards, it flattened through to 2022.

Truck Exports

Exports from Romania

For the third consecutive year, Romania recorded growth in overseas shipments of trucks, which increased by 82% to X units in 2022. Overall, exports, however, faced a abrupt decline. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, truck exports soared to $X in 2022. Over the period under review, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 82% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units), the Netherlands (X units) and Italy (X units) were the main destinations of truck exports from Romania, with a combined 40% share of total exports. Israel, France, Ukraine, Poland, Moldova, Spain, Slovakia, Bulgaria, Belgium and Lithuania lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +75.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Israel ($X) and Italy ($X) appeared to be the largest markets for truck exported from Romania worldwide, together accounting for 45% of total exports.

Israel, with a CAGR of +77.8%, recorded the highest growth rate of the value of exports, in terms of 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

The average truck export price stood at $X per unit in 2022, declining by -2% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, truck export price increased by +50.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 95% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per unit), while the average price for exports to Ukraine ($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 France (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Imports

Imports into Romania

In 2022, purchases abroad of trucks increased by 13% to X units, rising for the second year in a row after two years of decline. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% 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 +37.2% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 31% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, truck imports totaled $X in 2022. Over the period under review, imports posted a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 46% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X units), France (X units) and Turkey (X units) were the main suppliers of truck imports to Romania, together accounting for 54% of total imports. These countries were followed by Italy, Belgium, Poland, Morocco, the Netherlands, Austria, Spain and Hungary, which together accounted for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +29.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of trucks to Romania, comprising 26% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+13.4% per year) and Italy (+11.4% per year).

Import Prices by Country

In 2022, the average truck import price amounted to $X per unit, reducing by -11.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 24% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then dropped in the following year.

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 Austria ($X per unit), while the price for Morocco ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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