Commercial vehicle registrations in Japan have been on a declining trend. In 2023, the actual registrations stood at 463.54 thousand units. From 2024 onwards, forecasted data indicates a continual decrease, with figures dropping to 321.55 thousand units by 2028.
The year-on-year variation shows a consistent decline:
- 2025: -6.6%
- 2026: -7.0%
- 2027: -7.4%
- 2028: -7.9%
The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is -6.7%, reflecting the average annual decrease in registrations.
Future trends to watch for include the influence of sustainability initiatives and the transition to electric vehicles, which may impact the market dynamics and potentially stabilize or reverse the downward trend if adoption rates increase significantly.
