rise in industrialization and urbanization of vietnam economy is driving the Truck Market in Vietnam

Latest News:- Truck Market in Vietnam: Less than 10 T is expected to lead the Vehicle Category segment during 2024-2028

Technavio analyzes that the Truck Market in Vietnam is expected to grow at a CAGR of 8.05% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.50 billion.There are various factors that contribute to the growth of the market. The economic development of Vietnam, marked by increasing industrialization and urbanization, has led to a significant growth in the truck market. This trend is driven by the expanding manufacturing sector and the rising demand for transportation in urban areas. As a result, the market for trucks in Vietnam is experiencing robust expansion, with both domestic and international players vying for a share in this lucrative industry.

In the Vietnamese commercial vehicle market, light-duty trucks, with tonnage capacities under 10 tons, are a significant segment. These trucks, which include compact trucks, pickups, and passenger and cargo vans, serve as essential commercial carriers for people and goods. They are primarily utilized for intracity and intercity transport and are categorized based on size, wheel configuration, and weight. Light-duty trucks are indispensable for delivering time-sensitive and high-value goods, as well as providing support services. Their adoption is particularly high in urban areas of Vietnam, where space constraints are prevalent. The increasing traffic congestion is driving the preference for light-duty trucks over medium and heavy-duty trucks for intra-urban cargo transport. Key sectors such as logistics, construction, mining, agriculture, infrastructure projects, highways, bridges, ports, cold chain logistics, electric vehicles (EVs), and AI are major consumers of light-duty trucks in Vietnam. 

Know which region is leading the market growth by requesting a sample report

Truck Market in Vietnam Segmentation

• Vehicle Category
  • Less than 10 T
  • More than 10 T
• Type
  • Domestic
  • Imported
• Product Type
  • Manual
  • Automatic
• Geography
  • APAC

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• AB Volvo
• Beijing Automotive Group Co. Ltd.
• Daimler Truck AG
• Ford Motor Co.
• General Motors Co.
• Honda Motor Co. Ltd.
• Hyundai Motor Co.
• Isuzu Motors Ltd.
• Kamaz Export
• Kia Motors Corp.
• Mazda Motor Corp.
• Mitsubishi Corp.
• Nissan Motor Co. Ltd.
• Scania AB
• Stellantis NV
• Tan Chong Motor Holdings Berhad
• Tata Motors Ltd.
• Toyota Motor Corp.
• Vtruck

Find out what is trending in the market by accessing the free PDF report

Research Analysis Overview

In Vietnam's thriving market, trucks are a vital component of the transportation sector. These powerful vehicles, including pickup trucks, are essential for moving goods from warehouses to retail outlets and fulfilling the demands of consumers. With a focus on fuel efficiency and safety, manufacturers are innovating with advanced engines, cab designs, suspension systems, and electrification. The logistics and e-commerce sectors benefit from trailer tracking and cargo management in these fuel-efficient trucks, while safety and vehicle emissions remain top priorities. Road infrastructure continues to develop, enabling the smooth transport of goods and the growth of the truck market in Vietnam.

Market Research Overview

The Truck Market in Vietnam is a significant segment of the global trucking industry, which is a key component of the broader transportation market. According to Technavio, this market encompasses organizations providing ground transportation services for merchandise and freight. The global trucking market's size is determined by the consolidated revenue generated by enterprises operating within the goods and freight transportation sector, including those specializing in trucks, cars, campers, buses, vans, and motorbikes. The market's expansion will be fueled by the continuous increase in the volume of goods transported, driven by the long-term growth of the global economy. Additionally, factors such as the growing demand for pickup trucks for livestock transportation and farm equipment, as well as the expansion of warehouse and retail outlet networks, will contribute to the market's growth. Fleet owners also play a crucial role in the market's development, as they seek to optimize their operations and expand their businesses.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Reasons to Consider Purchasing Technavio Market Research Report

• Current Market Insights: Our reports offer valuable information on the latest market intelligence, competitor strategies, trends, industry changes, customer preferences, and forecasted market opportunities to aid in informed business decisions.


• Extensive Experience: With over 20 years in market research, Technavio is a trusted name, having published more than 21,000 reports across various industries and regions.


• High ROI Through In-Depth Research: Technavio specializes in tailored market research reports to meet specific business needs, exploring particular markets, product segments, and demographics. We are also recognized for delivering significant returns on investment through our comprehensive data collection at affordable prices.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/