From 2013 to 2023, the Croatian Work Trucks (Except Electric Trucks) market decreased from 916.1 to 437.43 thousand US dollars, marking a steady decline attributable to economic factors and shifting industrial demands. Between 2021 and 2023, the year-on-year variations ranged from a slight recovery of 6.52% in 2021 to a decline of 7.72% in 2023. Over the last five years, the compound annual growth rate (CAGR) averaged at -6.98%, reflecting a consistent downward trend.
Future trends to watch for include:
- Potential recovery driven by economic stabilization in Croatia.
- Technological advancements in non-electric work trucks increasing operational efficiency.
- Sustained pressure from the growing electric vehicle sector may continue to impact traditional truck markets.
- Government policies promoting greener vehicles could further influence market dynamics.