Market Insights Mobility Commercial Vehicles

Trucks - Brazil

Brazil

In Brazil, the Trucks market is projected to reach 95.72k vehicles unit sales by 2024.
The market is expected to grow at an annual growth rate (CAGR 2024-2029) of 0.80%, resulting in a projected market volume of 99.61k vehicles units by 2029.
This demonstrates the potential growth of the Trucks market in Brazil.
Furthermore, the production of Trucks market in Brazil is expected to reach 267.50k vehicles units by 2029, further indicating the growth potential of the market.
From an international perspective, it is noteworthy that in China is expected to have the highest sales volume in 2024, with 1,722.00k vehicles units.
Brazil's commercial truck market is experiencing a surge in demand due to increased infrastructure projects and a growing logistics industry.

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Analyst Opinion

The Trucks market in Brazil has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Trucks market in Brazil have been shifting towards larger and more powerful vehicles.

This can be attributed to the growing demand for trucks that can handle heavy loads and navigate the country's vast and diverse terrain. Customers are also increasingly looking for trucks that offer advanced features and technologies, such as improved fuel efficiency and driver assistance systems. In terms of market trends, there has been a noticeable increase in the adoption of electric and hybrid trucks in Brazil.

This can be attributed to the country's commitment to reducing greenhouse gas emissions and promoting sustainable transportation solutions. Additionally, there has been a growing focus on the development of autonomous trucks, which are expected to enhance efficiency and safety in the transportation industry. Local special circumstances in Brazil have also played a role in shaping the Trucks market.

The country's infrastructure challenges, including poor road conditions and limited access to certain regions, have created a demand for trucks that are rugged and capable of handling such conditions. Furthermore, the country's large agricultural sector has driven the need for specialized trucks that can transport heavy agricultural machinery and products. Underlying macroeconomic factors have also contributed to the development of the Trucks market in Brazil.

The country's economic growth and increasing urbanization have led to a higher demand for trucks for various purposes, including transportation of goods and construction activities. Additionally, government initiatives and incentives aimed at promoting the automotive industry have further stimulated the growth of the Trucks market. In conclusion, the Trucks market in Brazil is experiencing growth due to customer preferences for larger and more powerful vehicles, market trends such as the adoption of electric and autonomous trucks, local special circumstances including infrastructure challenges and the country's agricultural sector, and underlying macroeconomic factors such as economic growth and government initiatives.

These factors are expected to continue driving the development of the Trucks market in Brazil in the coming years.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of trucks.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.