Iceland: Truck Market 2020

Truck Market Size in Iceland

The revenue of the truck market in Iceland amounted to $X in 2018, declining by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, truck consumption continues to indicate a measured curtailment. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. Iceland truck consumption peaked at $X in 2017, and then declined slightly in the following year.

Truck Exports

Exports from Iceland

In 2018, the amount of trucks exported from Iceland amounted to X units, falling by -X% against the previous year. Over the period under review, truck exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2008 when exports increased by X% y-o-y. In that year, truck exports attained their peak of X units. From 2009 to 2018, the growth of truck exports remained at a somewhat lower figure.

In value terms, truck exports totaled $X in 2018. In general, truck exports continue to indicate a temperate curtailment. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. In that year, truck exports attained their peak of $X. From 2009 to 2018, the growth of truck exports remained at a lower figure.

Exports by Country

Thailand represented the largest exporting country with an export of about X units, which reached X% of total exports. Mexico (X units) occupied a X% share (based on tons) of total exports, which put it in second place, followed by the U.S. (X%). Japan (X units), France (X units), Germany (X units), Turkey (X units), Italy (X units), Spain (X units), South Africa (X units), Belgium (X units) and Argentina (X units) occupied a minor share of total exports.

Thailand was also the fastest-growing in terms of the trucks exports, with a CAGR of +X% from 2007 to 2018. At the same time, Argentina (+X%), France (+X%), Turkey (+X%), Belgium (+X%) and South Africa (+X%) displayed positive paces of growth. By contrast, Japan (-X%), Spain (-X%), Mexico (-X%), Italy (-X%), Germany (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. Thailand (+X p.p.) significantly strengthened its position in terms of the global exports, while Germany, the U.S. and Mexico saw its share reduced by -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), the U.S. ($X) and Germany ($X) were the countries with the highest levels of exports in 2018, with a combined X% share of total exports. Thailand, France, Japan, Spain, Italy, Turkey, Belgium, Argentina, South Africa and Iceland lagged somewhat behind, together comprising a further X Africa recorded the highest growth rate of exports, in terms of the main exporting countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the truck export price in Iceland amounted to $X per unit, jumping by X% against the previous year. Overall, the export price indicated a moderate expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, truck export price decreased by -X% against 2016 indices. The pace of growth appeared the most rapid in 2014 when the export price increased by X% y-o-y. Over the period under review, the export prices for trucks attained their peak figure at $X per unit in 2016; however, from 2017 to 2018, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced more modest paces of growth.

Truck Imports

Imports into Iceland

Truck imports into Iceland totaled X units in 2018, shrinking by -X% against the previous year. Over the period under review, truck imports continue to indicate a moderate slump. The pace of growth appeared the most rapid in 2012 with an increase of X% against the previous year. Over the period under review, truck imports reached their maximum at X units in 2017, and then declined slightly in the following year.

In value terms, truck imports stood at $X in 2018. Overall, truck imports continue to indicate a measured slump. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. Iceland imports peaked at $X in 2017, and then declined slightly in the following year.

Imports by Country

The Philippines was the main importing country with an import of about X units, which recorded X% of total imports. The U.S. (X units) held a X% share (based on tons) of total imports, which put it in second place, followed by Canada (X%). The UK (X units), France (X units), Australia (X units), Germany (X units) and Belgium (X units) held a relatively small share of total imports.

The Philippines was also the fastest-growing in terms of the trucks imports, with a CAGR of +X% from 2007 to 2018. At the same time, Canada (+X%), Australia (+X%), the U.S. (+X%) and Belgium (+X%) displayed positive paces of growth. France, the UK and Germany experienced a relatively flat trend pattern. From 2007 to 2018, the share of the Philippines, Canada and the U.S. increased by +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X), Canada ($X) and the UK ($X) appeared to be the countries with the highest levels of imports in 2018, with a combined X% share of total imports. These countries were followed by France, Australia, Germany, Belgium, the Philippines and Iceland, which together accounted for a further X the main importing countries, the Philippines recorded the highest rates of growth with regard to imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The truck import price in Iceland stood at $X per unit in 2018, growing by X% against the previous year. In general, the truck import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by X% against the previous year. Over the period under review, the import prices for trucks reached their maximum at $X per unit in 2009; however, from 2010 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Germany ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the UK, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform