The truck market in Mexico saw significant year-on-year variations from 2012 to 2022, oscillating between peaks and troughs. The market size value reached $18.327 billion in 2012, growing to a high of $22.884 billion in 2014 before experiencing a notable decline. By 2020, the market size had contracted to $12.545 billion, followed by a moderate recovery to $14.624 billion in 2022. Over the last five years, the Compound Annual Growth Rate (CAGR) was negative, indicating an overall shrinking market. As we stand in 2024, it's crucial to monitor these fluctuations as the market might still be stabilizing.
Future trends to watch for:
- Technological advancements in autonomous and electric trucks, potentially altering market dynamics.
- Economic policies and trade agreements influencing cross-border transportation needs.
- Environmental regulations driving demand for greener, more efficient truck models.
- Potential post-pandemic economic recovery impacting freight demand and overall market size.
| # | 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% | View data |
| 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 |
| 6 | 6 Mexico | 14,387,000,000 | 2023 | -1.63% | -0.51% | |
| 7 | 7 Spain | 14,034,000,000 | 2023 | +1.44% | +0.43% | View data |
| 8 | 8 Belgium | 7,102,500,000 | 2023 | +2.72% | +1.65% | View data |
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