Central European Heavy Ground Transportation Vehicles Market Is Driven by Rapid Urbanization
In the Central European heavy ground transportation vehicles market, truck sales are projected to reach USD 62.2 billion, while bus sales could value 4.4 billion by 2030. This growth can be credited to a surge in trade activities and quick urbanization, which is boosting the demand for road freight transport and logistics, along with innovations in technologies.
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In recent years, LCV trucks had a larger market share, of more than 80% in the Central European truck industry, and also the category is projected to advance with a higher CAGR in the coming few years.
Light trucks are in heavy demand because of their reduced cost, which makes them reasonable for small-to-mid-sized companies. Furthermore, the rising requirement for last-mile delivery services is projected to boost the development of the industry in this category in the region by the end of the decade.
In recent years, Conventional (diesel) variants had over value 90% share in the Central European truck market. This is mainly because of the low cost of such trucks, along with a negligible aftermarket service requirement. Hybrid and electric vehicles are exclusive compared to conventional ones, which is why truck owners favor those with orthodox powertrains.
Poland is accountable for the highest revenue in the Central European truck industry. With a populace of 38.0 million, Poland is the largest customer industry in Central Europe and the sixth-biggest economy in the EU. Poland’s exports and imports were both esteemed at USD 345.2 billion in recent years. Poland’s main export partners in terms of the worth of the transferred goods are the U.K. (6.0%), Germany (27.5%), France (5.8%), the Czech Republic (6.1%), and Italy (4.6%).
Single-decker buses are projected to advance with an approximately 8% CAGR during 2021–2030, in terms of worth. Universities, schools, colleges, and other academic establishments, and public transport agencies continue to obtain such variants in high counts to meet the demand for daily travel.
In recent years, the transit buses category led the industry with approximate value 50% share. Such buses advance social presence, offering access to education, service, and healthcare to all, counting those with low earnings, those who do not drive, the elder generation, individuals with disabilities, and individuals living in remote areas.
