NEW YORK, May 19, 2016 /PRNewswire/ -- This study provides an overview of the commercial trucks market in Vietnam. It covers both medium-duty and heavy-duty truck segments. It discusses sales and market structure in Vietnam, outlining the local manufacturing assembly, import sales movement, key regulations, trade agreements, and key growth factors. It also provides a comparative analysis of original equipment manufacturers as well as the bestselling medium-duty and heavy-duty truck models. The study concludes with the future outlook. The base year is 2015 and forecast period is up to 2022.
Executive Summary—Key Findings
Stable growth is expected in the emerging Vietnamese commercial truck market during 2015–2022 with a CAGR of % across local production and imported truck deals.
Commercial Truck Market: Key Findings, Vietnam, 2015–2022
The Vietnamese commercial truck market, including both Medium-duty (MD) and Heavy-duty (HD) truck segments, grew at % during 2014–2015. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of % between 2015 and 2022, from units in 2015 to units by 2022.
The Vietnamese commercial truck market consists of both, a local truck manufacturing assembly industry and imported truck activity. The local truck manufacturing and assembly industry accounts for % of the total market share; whereas imported truck services are mainly dominated by Chinese and Japanese truck brands.
Medium-duty and heavy-duty trucks in Vietnam mainly use diesel powertrains. This trend is expected to continue in the medium-to-long term.
Free Trade Agreements (FTAs) across various Asian countries have opened up optimistic market opportunities in imported truck dealing, especially with ASEAN countries, Japan, South Korea, and China.
Future development of expressways, both national and cross-border, in Vietnam will bring opportunities for production and export sales to neighboring countries such as Myanmar, Laos, and Cambodia.
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