Turkey commercial vehicle
market is anticipated to grow at a steady CAGR during the forecast period,
2023-2027. The rise in the investments in research and development activities
and the massive demand for commercial vehicles in the logistics and e-commerce
industry are the primary drivers for the Turkey commercial vehicle market. The
launch of commercial electric vehicles and the surge in demand for sustainable
mobility and innovation are the other prominent factors that can fuel Turkey
commercial vehicle market growth over the forecast period.
Rapid Industrialization and
Infrastructure Development Drives the Market Growth
The continuous growth of the
population and urbanization, ongoing infrastructure development, and the
growing industrial sector are driving the sales of commercial vehicles
worldwide. The surge in Turkey's international trade volume and strategic
location support the country in developing its infrastructure. Such as, the
government unveiled the ‘Transport and Logistics Master Plan’ at Transport
Vision 2053 meeting to support and develop the transportation industry with a
focus on railways. According to the 30-year strategy, the Turkish government
has pledged to invest $197.9bn in the road, rail, maritime and air transport,
and communication facilities. Turkey acts as a bridge between east and west
which is the reason it leads the Middle Corridor at the heart of the Belt and
Road Initiative (BRI). Concerned authorities aim to construct 8,200 km of total
motorway by 2035. Two hundred sixty-two contracts for Public-Private Sector
Partnership (PPP) projects with a total value of USD 184 billion were signed
between 1986 and 2022. With the growing investments by the public and private
market players in infrastructure development, the demand for commercial
vehicles is increasing at a significant rate. In 2021, around 212.38 thousand
units of commercial vehicles were sold in Turkey. The most common type of
commercial vehicles used during construction activities is concrete mixers,
dump trucks, custom haulers, sleeper trucks, and flatbeds. They are essential
during construction activities to carry and transport materials and equipment
for the completion of the operation. Therefore, the improvement in economic
conditions of the country and the massive applications of commercial vehicles
in the construction industry are expected to boost Turkey commercial vehicle
market growth over the forecast period.
The rise in Popularity of
Electric Commercial Vehicles Supports the Market Growth
An increase in concerns about
the harmful emissions from conventional vehicles and stringent emission norms
is making commercial vehicle manufacturers shift towards alternate energy
source vehicles. Turkey has started the production of electric vehicles for
public transportation. TEMSA, part of Sabancı Holding, and ASELSAN have jointly
developed the first hundred domestic electric vehicles for public
transportation. Leading authorities are working on offering an income tax
rebate, tax incentives, and subsidies to the electric vehicle manufacturers and
buyers to boost electric vehicle sales in the country. The industry and
Technology Ministry has pledged to invest a total volume of 20 million Turkish
Liras ($1.3 million) to provide support for 75 percent of the charging
stations' investments. The growing investments and initiatives to develop
electric vehicle infrastructure in the country and increase awareness about
using the benefits of electric vehicles among consumers are expected to propel
Turkey commercial vehicle market growth in the coming years.
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Market Segmentation
Turkey commercial vehicle
market is segmented into vehicle type, propulsion, transmission type, regional
distribution, and company. Based on vehicle type, the
market is divided into light commercial vehicle (LCV), medium commercial
vehicle (MCV), heavy commercial vehicle (HCV). Based on propulsion, the market
is bifurcated into ICE and electric. Based on transmission type, the market is divided
into manual transmission and automatic transmission. Turkey commercial
vehicle market is studied in major regions namely Marmara, Central Anatolia,
Aegean, Mediterranean, Black Sea, South-Eastern Anatolia, Eastern Anatolia.
Market Players
TEMSA, Otokar Otomotiv ve
Savunma Sanayi A.Ş., BMC Otomotiv Sanayi ve Ticaret A.Ş., Isuzu (Anadolu),
Askam, Karsan, MAN A.S., Daimler AG, Volkswagen AG, Ford Motor Company, are the
major market players operating in the Turkey commercial vehicle market.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, and
CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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·
Vehicle Type
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Propulsion
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Transmission Type
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Regional scope
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Marmara, Central Anatolia, Aegean, Mediterranean, Black Sea, South-Eastern
Anatolia, Eastern Anatolia
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Key companies profiled
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TEMSA, Otokar Otomotiv ve Savunma Sanayi A.Ş., BMC Otomotiv
Sanayi ve Ticaret A.Ş., Isuzu (Anadolu), Askam, Karsan, MAN A.S., Daimler AG,
Volkswagen AG, Ford Motor Company
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet
your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, Turkey commercial
vehicle market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Turkey Commercial
Vehicle Market, By Vehicle Type:
- Light Commercial Vehicle (LCV)
- Medium Commercial Vehicle (MCV)
- Heavy Commercial Vehicle (HCV)
- Turkey Commercial Vehicle Market, By Propulsion:
- Turkey Commercial Vehicle Market, By Transmission Type:
- Manual Transmission
- Automatic Transmission
- Turkey Commercial
Vehicle Market, By Region:
- Marmara
- Central Anatolia
- Aegean
- Mediterranean
- Black Sea
- South-Eastern Anatolia
- Eastern Anatolia
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Turkey commercial vehicle market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Turkey commercial vehicle market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]