Forecast: Possession of Trucks for Highway Business Transportation in China

The possession of trucks for highway business transportation in China has exhibited variable trends over the past decade. From 2013 to 2023, the market saw fluctuations, with the highest value in 2014 at 1.45 Ten Million Units and a substantial drop in 2019 at 1.09 Ten Million Units. In 2023, the possession stood at 1.17 Ten Million Units, marking a minor negative year-on-year change of -0.065% and a five-year CAGR of -2.88%. Over the next five years, possession is forecasted to remain stable at 1.17 Ten Million Units with a slight negative 5-year CAGR of -0.05% and a projected growth rate of -0.25%.

Future trends to watch for:

- The potential impact of government policies on emissions and greener transportation may influence truck possession. - Technological advancements and automation could reshape the industry, potentially reducing the need for traditional truck units. - Economic factors, including demand in e-commerce and supply chain disruptions, could alter truck possession rates.