Market Insights Mobility Commercial Vehicles

Trucks - Spain

Spain

In 2024, the Trucks market in Spain is projected to reach a unit sales of 30.98k vehicles.
This indicates a potential growth in the market.
Furthermore, it is expected that the unit sales will exhibit a compound annual rate of 2.59% from 2024 to 2030, resulting in a projected market volume of 36.12k vehicles by 2030.
This growth in unit sales can be seen as a reflection of the potential expansion of the Trucks market in Spain.
Additionally, the production of Trucks market in Spain is anticipated to reach 79.46k vehicles units by 2030, further exemplifying the growth potential of the market.
From an international standpoint, it is noteworthy that in China is projected to have the highest sales volume of 3,741.00k vehicles units in 2024.
Spain's truck market is experiencing a surge in demand due to the country's growing construction industry.

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Trucks market in Spain has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Trucks market in Spain have shifted towards vehicles that are more fuel-efficient and environmentally friendly.

With rising fuel prices and increasing awareness of climate change, customers are opting for trucks that offer better fuel economy and lower emissions. This trend has led to an increased demand for electric and hybrid trucks in the Spanish market. Additionally, customers are also looking for trucks that offer advanced safety features and improved connectivity options.

In terms of trends, the Trucks market in Spain has seen a rise in the demand for light commercial vehicles. These vehicles are smaller in size and offer better maneuverability in urban areas, making them ideal for delivery services and small businesses. The demand for light commercial vehicles has also been driven by the growth of e-commerce, as more companies require efficient and reliable transportation for their goods.

Another trend in the Trucks market in Spain is the increasing popularity of leasing and rental services. Many businesses prefer to lease or rent trucks instead of purchasing them outright, as it allows them to have access to the latest models without the financial burden of ownership. This trend has been further accelerated by the uncertainty caused by the COVID-19 pandemic, as businesses look for flexible solutions to meet their transportation needs.

Local special circumstances have also played a role in shaping the Trucks market in Spain. The country has a well-developed road infrastructure, which makes it easier for businesses to transport goods across the country. Additionally, Spain has a strong manufacturing sector, which has created a demand for trucks to transport raw materials and finished products.

Underlying macroeconomic factors have also contributed to the growth of the Trucks market in Spain. The country has experienced steady economic growth in recent years, which has led to an increase in construction activities and infrastructure projects. This has created a demand for trucks to transport construction materials and equipment.

Furthermore, Spain is a popular tourist destination, which has resulted in a growing demand for trucks in the tourism and hospitality sectors. In conclusion, the Trucks market in Spain has seen significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for fuel-efficient and environmentally friendly trucks, as well as light commercial vehicles, has been on the rise.

Leasing and rental services have also become more popular among businesses. The well-developed road infrastructure, strong manufacturing sector, and steady economic growth have further contributed to the growth of the market.

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.