SADC: Truck Market 2023

Truck Market Size in SADC

In 2022, the SADC truck market was finally on the rise to reach $X after two years of decline. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Truck Production in SADC

In value terms, truck production dropped modestly to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +3.1% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 42%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Truck Exports

Exports in SADC

In 2022, exports of trucks in SADC reduced modestly to X units, declining by -3.5% on 2021 figures. Overall, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by 374% against the previous year. The volume of export peaked at X units in 2021, and then fell in the following year.

In value terms, truck exports reduced slightly to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +40.9% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 44% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

The shipments of the one major exporters of trucks, namely South Africa, represented more than two-thirds of total export.

South Africa was also the fastest-growing in terms of the trucks exports, with a CAGR of +19.4% from 2012 to 2022. While the share of South Africa (+19 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest truck supplier in SADC.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +3.1%.

Export Prices by Country

The export price in SADC stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2013 when the export price increased by 20%. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to -13.6% per year.

Truck Imports

Imports in SADC

In 2022, overseas purchases of trucks increased by 4.8% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, truck imports stood at $X in 2022. In general, imports, however, showed a perceptible contraction. The pace of growth was the most pronounced in 2021 when imports increased by 45%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Africa (X units), distantly followed by Tanzania (X units), Namibia (X units), Mozambique (X units), Zimbabwe (X units), Zambia (X units) and Democratic Republic of the Congo (X units) represented the key importers of trucks, together committing 81% of total imports. Madagascar (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +10.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported trucks in SADC, comprising 31% of total imports. The second position in the ranking was held by Tanzania ($X), with a 13% share of total imports. It was followed by Mozambique, with an 11% share.

In South Africa, truck imports declined by an average annual rate of -2.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Tanzania (+1.1% per year) and Mozambique (+1.3% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per unit, growing by 2.1% against the previous year. In general, the import price, however, showed a perceptible slump. The pace of growth appeared the most rapid in 2018 when the import price increased by 11%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per unit), while Namibia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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