Portugal: Truck Market 2024

Truck Market Size in Portugal

The Portuguese truck market reduced rapidly to $X in 2022, waning by X% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Truck Production in Portugal

In value terms, truck production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2021, and then contracted in the following year.

Truck Exports

Exports from Portugal

In 2022, shipments abroad of trucks increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, truck exports rose notably to $X in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

France (X units) was the main destination for truck exports from Portugal, accounting for a X% share of total exports. Moreover, truck exports to France exceeded the volume sent to the second major destination, Spain (X units), twofold. Italy (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Italy (X% per year).

In value terms, France ($X) remains the key foreign market for trucks exports from Portugal, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average truck export price amounted to $X per unit, approximately equating the previous year. Over the period under review, the export price, however, showed a slight expansion. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The export price peaked at $X per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Imports

Imports into Portugal

Truck imports into Portugal declined to X units in 2022, with a decrease of X% against the year before. Over the period under review, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, truck imports reduced sharply to $X in 2022. Overall, imports, however, recorded strong growth. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, France (X units) constituted the largest truck supplier to Portugal, with a X% share of total imports. Moreover, truck imports from France exceeded the figures recorded by the second-largest supplier, Spain (X units), twofold. Germany (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Germany (X% per year).

In value terms, the largest truck suppliers to Portugal were France ($X), Spain ($X) and Germany ($X), together accounting for X% of total imports. Turkey, Sweden, Italy, the Netherlands, Thailand and South Africa lagged somewhat behind, together comprising a further X%.

Sweden, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average truck import price amounted to $X per unit, falling by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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