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Report Southern Asia - Trucks - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Southern Asia - Trucks - Market Analysis, Forecast, Size, Trends and Insights

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Southern Asia: Truck Market 2024

Truck Market Size in Southern Asia

In 2022, the South Asian truck market decreased by -3% to $X, falling for the second year in a row after six years of growth. In general, consumption showed a slight slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Truck Production in Southern Asia

In value terms, truck production expanded modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 9.9% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Truck Exports

Exports in Southern Asia

In 2022, overseas shipments of trucks increased by 27% to X units, rising for the second year in a row after two years of decline. Total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +155.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 101%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, truck exports expanded sharply to $X in 2022. Overall, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 117%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The biggest shipments were from India (X units), together finishing at 98% of total export.

India was also the fastest-growing in terms of the trucks exports, with a CAGR of +4.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest truck supplier in Southern Asia.

In India, truck exports expanded at an average annual rate of +6.3% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, waning by -12.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2017 when the export price increased by 22%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +1.6% per year.

Truck Imports

Imports in Southern Asia

Truck imports shrank to X units in 2022, which is down by -6.4% on 2021. Overall, imports recorded a perceptible setback. The pace of growth was the most pronounced in 2021 with an increase of 34%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, truck imports shrank to $X in 2022. Over the period under review, imports showed a mild shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 50%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Pakistan (X units) and Bangladesh (X units) were the largest importers of trucks in Southern Asia, together resulting at near 73% of total imports. Nepal (X units) took the next position in the ranking, followed by Afghanistan (X units) and Sri Lanka (X units). All these countries together took near 23% share of total imports. Bhutan (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of +11.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Pakistan ($X), Bangladesh ($X) and Nepal ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 83% of total imports.

Nepal, with a CAGR of +14.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, declining by -4.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2016 an increase of 15% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($X per unit), while Afghanistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

India constituted the country with the largest volume of truck consumption, accounting for 93% of total volume. It was followed by Pakistan, with a 3% share of total consumption.
India remains the largest truck producing country in Southern Asia, accounting for 100% of total volume.
In value terms, India remains the largest truck supplier in Southern Asia.
In value terms, the largest truck importing markets in Southern Asia were Bangladesh, Pakistan and Sri Lanka, with a combined 83% share of total imports.
The truck export price in Southern Asia stood at $10,315 per unit in 2020, stabilizing at the previous year.
The truck import price in Southern Asia stood at $14,791 per unit in 2020, reducing by -9.9% against the previous year.

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

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Southern Asia, split by region and country
  • Trade (exports and imports) in Southern Asia
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Afghanistan
    • Bangladesh
    • Bhutan
    • India
    • Maldives
    • Nepal
    • Pakistan
    • Sri Lanka

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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