The market size value of diesel trucks weighing less than 5 tonnes in South Africa stood at 4.5395 billion US dollars in 2023. Over the past decade, the industry has experienced fluctuating growth, with significant dips in 2014 and 2020 characterized by year-on-year declines of 8.56% and 16.37%, respectively. However, the market rebounded with periods of solid growth, such as in 2017 (25.75%) and 2021 (16.3%). The Compound Annual Growth Rate (CAGR) for the past five years stands at 1.55%.
Future trends to watch for include the forecasted steady growth of the market at a 5-year CAGR of 1.18%, reaching an estimated 4.8762 billion US dollars by 2028. This suggests a cautious but optimistic outlook for the diesel truck market in South Africa, potentially driven by economic recovery and increased demand for logistical and transportation solutions.
