The UK trucks market displayed significant fluctuations from 2012 to 2022, with values ranging from $22.07 billion to $31.27 billion. Over this period, the market experienced both substantial growth and declines, marked by a significant peak in 2015 at $32.503 billion and a notable dip in 2020 to $25.216 billion due to extenuating circumstances such as the COVID-19 pandemic. The year-on-year variations and compound annual growth rates (CAGRs) reflect these fluctuations, indicating periods of both robust growth and contraction. Notably, the market saw a gradual recovery with an increasing trend from 2021 onward.
In recent years, between 2021 and 2022, the market grew by 6.77%, reflecting a positive recovery trajectory. The average annual growth rate over the past five years was approximately 2.48%, indicating modest growth despite periods of volatility.
Looking forward, key trends to watch include the integration of electric and autonomous vehicles within the trucking sector, which could significantly reshape market dynamics. Additionally, the impact of regulatory changes and advancements in logistics efficiency will play a crucial role in shaping future market growth.
| # | 31 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 France | 35,368,000,000 | 2023 | +1.82% | +0.71% | View data |
| 2 | 2 United Kingdom | 31,707,000,000 | 2023 | +1.38% | +1.29% | |
| 3 | 3 Brazil | 22,772,000,000 | 2023 | -1.5% | -2.03% | View data |
| 4 | 4 Japan | 19,967,000,000 | 2023 | -3.63% | -4.09% | View data |
| 5 | 5 Italy | 17,159,000,000 | 2023 | +0.39% | -0.99% | View data |