The diesel trucks market (weighing less than 5 tonnes) in Canada has seen significant fluctuations from 2012 to 2022, starting at $3.0505 billion in 2012 and reaching $5.7745 billion in 2022. The market experienced a peak growth year in 2014 with a 20.66% year-on-year increase, followed by notable growth in 2015 and 2018. Conversely, it saw declines in 2016, 2019, and notably in 2020. Over the last two years, the market rebounded with a 17.97% increase in 2021 and an 8.33% incline in 2022. The 5-year CAGR (Compound Annual Growth Rate) ending 2022 is 3.49%, highlighting moderate growth.
Future Trends to Watch For:
- Increased adoption of electric and hybrid trucks impacting diesel truck sales.
- Advancements in diesel engine efficiency and emissions technology.
- Regulatory changes influencing diesel engine usage and market dynamics.
- Evolving consumer preferences, leaning towards more sustainable options.
How does Canada rank in Diesel Trucks (Weighing Less than 5 Tonnes) Market Size Value?
| # | 26 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 21,716,000,000 | 2023 | +3.25% | +2.71% | View data |
| 2 | 2 Spain | 9,793,900,000 | 2023 | +1.15% | +0.37% | View data |
| 3 | 3 Canada | 5,934,800,000 | 2023 | +2.78% | +1.75% | |
| 4 | 4 South Africa | 4,539,500,000 | 2023 | +1.5% | +1.55% | View data |
| 5 | 5 Sweden | 4,451,900,000 | 2023 | +2.49% | +2.66% | View data |
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