The diesel trucks market in Malawi for vehicles weighing more than one tonne experienced a downward trend from 2013, with a market size of $18.403 million, reaching $9.374 million in 2023. The market saw significant declines, notably a steep drop in 2020 by 20.43%, followed by a slight recovery in 2021 and 2022. However, the market contracted again in 2023, decreasing by 4.42%. Over the past five years, the market exhibited a compound annual growth rate (CAGR) of -4.22%, indicating a continuous shrinkage in market value during this period.
Future trends to watch for:
- Potential market recovery rooted in growing demand for more efficient and modern diesel trucks possibly driven by infrastructure investments;
- Regulatory changes and environmental concerns influencing a shift to greener vehicle technologies.
