Truck market in Vietnam expected to grow by 41,610 units; AB Volvo and Beijing Automotive Group Co. Ltd. become key suppliers – Technavio

NEW YORK, November 22, 2022 /PRNewswire/ — The “truck market at Vietnam Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026report has been added to Technavio’s offering. The report forecasts the market size to grow by 41,610 units between 2021 and 2026. The truck market in Vietnam is fragmented with the presence of several regional and international actors. Market vendors focus on new vehicle launches and form strategic alliances to stay competitive and gain an edge over their rivals. For example, in October 2021, General Motors Co. has signed a memorandum of understanding with GE Renewable Energy to develop a supply chain of rare earths and other materials to support the adoption of electric vehicles and renewable energy. Likewise, in June 2021Scania AB acquired the rights to the Svempas brand. Get more insights into the vendor landscape. Download a Free Sample PDF Report

truck market at Vietnam 2022-2026: Scope

Technavio presents a detailed picture of the market through study, synthesis and summation of data from multiple sources. The Vietnam truck market report covers the following areas:

truck market at Vietnam 2022-2026: Segmentation

The truck market in Vietnam is segmented as below:

By type, the market growth in the domestic segment will be significant over the forecast period. The domestic segment covers sales of trucks manufactured in Vietnam himself. Domestically produced trucks account for more than 60% of all truck sales in Vietnam. As many other countries have done, Vietnam relied on lower manufacturing costs to provide a competitive advantage. Currently, to compete in the global market, the country is significantly looking for growth opportunities in supply chain efficiency. Thus, all the factors mentioned above support the assembly and production of trucks in the country.

The story continues

In tonnage, market growth will be significant in the sub-10T segment over the forecast period. Trucks under 10 tonnes gross vehicle weight (GVWR) include various types of light trucks. These trucks are mainly used for intra-city and inter-city transport. Light trucks play a vital role in the final delivery of urgent goods, high value goods and support services. They are primarily used in urban areas short on space and are finding significant adoption in Vietnam. Increasing traffic congestion is pushing the adoption of light trucks over medium and heavy trucks for transporting goods in urban cities of Vietnam. Identify potential segments to invest in during the forecast period. Download a free sample report

truck market at Vietnam 2022-2026: Supplier Analysis

Competitors should focus on differentiating their product offerings with unique value propositions to strengthen their market presence. Market sellers also need to take advantage of existing growth prospects in fast-growing segments, while maintaining their positions in slow-growing segments. AB Volvo, Beijing Automotive Group Co. Ltd., Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Scania AB, Stellantis NV, Toyota Motor Corp. and UD Trucks Corp. of the main players in the market. Discover the market potential and make informed business decisions based on qualitative and quantitative evidence highlighted exclusively in this market research. Buy the report!

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truck market at Vietnam 2022-2026: Highlights

• Market CAGR over the forecast period 2022-2026

• Detailed information on the factors that will contribute to the growth of the truck market in Vietnam over the next five years

• Truck market size estimation Vietnam and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the truck market in Vietnam

• Market Competitive Landscape Analysis and Detailed Vendor Information

• Comprehensive details of the factors that will challenge the growth of the Trucks Market vendors in Vietnam

Related reports:

• The self-driving truck market size growth is expected to progress at a CAGR of 46.54% and is estimated at $864.39 million by 2026. Rise in traffic accidents is notably driving the growth of the self-driving truck market, although factors such as rising safety concerns may hamper the growth of the market.

• The market value of pickup trucks in the united states is expected to grow by 941,570 units at a CAGR of 6% over the period 2021-2025. Key factors such as the increased utility of pickup trucks are notably supporting the growth of the pickup truck market in the United States. However, factors such as increasing used vehicle sales in the United States have been identified as market challenges that limit the growth of the market.

Contents:

Summary

Market landscape

• Market ecosystem

• Value chain analysis

Market sizing

Five forces analysis

Market segmentation by type

• Market segments

• Comparison by type

• National – Market size and forecast 2021-2026

• Imported – Market size and forecast 2021-2026

• Market Opportunity by Type

Market segmentation by tonnage

• Market segments

• Comparison by Tonnage

• Less than 10 T – Market size and forecast 2021-2026

• Over 10 T – Market size and forecast 2021-2026

• Market opportunity by tonnage

Customer landscape

• Market factors

• Market challenges

• Market trends

Supplier Landscape

• Supplier Landscape

• Landscape disturbance

Vendor analysis

Annex

About Us

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