The import of spark ignition engine trucks weighing less than 5 tonnes to China is forecasted to increase from 40.595 million kilograms in 2024 to 46.616 million kilograms by 2028. In 2023, the imports stood below the 40 million kilograms mark, indicating a consistent year-on-year growth trajectory. The year-on-year increases from 2024 to 2028 are indicative of stable growth, showing percentages around 3.5% to 4% annually. The compounded annual growth rate (CAGR) projected for this period is approximately 3.5%.
Future trends to watch for include:
- The potential impact of China's environmental policies encouraging the adoption of electric vehicles, which may affect the demand for spark ignition engine trucks.
- Global supply chain dynamics and trade relations that can influence import volumes.
- Technological advancements in truck efficiency and design, creating shifts in import patterns.