Forecast: Commercial Vehicles in Use in Vietnam

The number of commercial vehicles in use in Vietnam has had varying trends over the years. Starting from 156,000 units in 2013, the growth generally showed steady increases, reaching 206,800 units in 2023. Notably, there was a significant drop in 2020, with a 14.88% decrease, but subsequent years saw a recovery, with 2021 experiencing a notable 17.25% increase. The five-year CAGR up to 2023 stood at 2.44%, reflecting modest growth. Forecasts project continued incremental growth, with an expected CAGR of 1.72% over the next five years, culminating in 229,830 units in 2028.

Future trends to watch for:

- Economic policies impacting commercial transport regulations.

- Advancements in vehicle technology and adoption rates.

- Environmental policies driving the transition to greener commercial vehicles.