Truck Market in Vietnam to grow by 41,610 units; AB Volvo and Beijing Automotive Group Co. Ltd. emerge as Key Vendors - Technavio

NEW YORK, Nov. 22, 2022 /PRNewswire/ -- The "Truck Market in Vietnam Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026" report has been added to Technavio's offering. The report expects 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 players. The vendors in the market are focusing on new vehicle launches and forming strategic alliances to remain competitive and gain an edge over their rivals. For instance, in October 2021, General Motors Co. signed MoU with GE Renewable Energy to develop a supply chain of rare earth and other materials to support the adoption of EVs and renewable energy. Similarly, in June 2021, Scania AB acquired rights to trademark Svempas. Get more insights into the vendor landscape. Download a Free PDF Report Sample

Truck Market in Vietnam 2022-2026: Scope

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

• Truck Market Size
• Truck Market Trends
• Truck Market Industry Analysis

Truck Market in Vietnam 2022-2026: Segmentation

The truck market in Vietnam is segmented as below:

• Type 
• Domestic
• Imported

By type, the market growth in the domestic segment will be significant over the forecast period. The domestic segment covers the sales of trucks that are manufactured in Vietnam itself. The trucks manufactured in the country account for more than 60% of all the trucks sales in Vietnam. Like several other countries have, Vietnam has relied on lower manufacturing costs to deliver a competitive advantage. Presently, to compete in the global market, the country is significantly seeking growth opportunities in supply-chain efficiencies. Thus, all the above-mentioned factors support truck assembly and production in the country.

• Tonnage 
• Less than 10 T
• More than 10 T

By tonnage, the market growth will be significant in the less than 10 T segment during the forecast period. The trucks under gross vehicle weight (GVW) of less than 10 ton category include various types of light-duty trucks. These trucks are basically used for intra-city and inter-city transport. Light-duty trucks play a critical role in the final delivery of time-critical goods, high-value goods, and support services. They are mainly used in space-strapped urban areas and find significant adoption in Vietnam. The rising traffic congestion is pushing the adoption of light-duty trucks over medium and heavy-duty trucks for transporting cargo within urban cities in Vietnam. Identify potential segments to invest in over the forecast period. Download a Free Sample Report

Truck Market in Vietnam 2022-2026: Vendor Analysis

Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the 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. are among some of the major market participants. Discover market potential and make informed business decisions based on qualitative and quantitative evidences highlighted exclusively in this market study. Buy Report!

Truck Market in Vietnam 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist truck market growth in Vietnam during the next five years
• Estimation of the truck market size in 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
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of truck 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 USD 864.39 million by 2026. The increasing road accidents is notably driving the self-driving truck market growth, although factors such as rising security concerns may impede market growth.
• The pickup truck market value in US is projected to grow by 941.57 thousand units at a CAGR of 6% during 2021-2025. Key drivers such as the increased utility of pickup trucks are notably supporting the pickup truck market growth in the US. However, factors such as increasing sales of used vehicles in the US have been identified as market challenges that limit the growth of the market.

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• Domestic - 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
• More than 10 T - Market size and forecast 2021-2026
• Market opportunity by Tonnage

Customer landscape

• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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.
• UD Trucks Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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