Turkish Heavy Duty Commercial Vehicles Market, Forecast to 2022

Turkish Heavy Duty Commercial Vehicles Market, Forecast to 2022

Market Volume Expected to Exceed 15 Thousand Units in 2022 and Reach its Full Potential post-2022

RELEASE DATE
22-Jan-2019
REGION
Europe
Research Code: MDFB-01-00-00-00
SKU: AU01781-EU-MR_22799

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Description

Heavy duty (HD) commercial vehicles sales in Turkey are expected to decline over 2017–2022. The market is expected to record a CAGR of (0.6%) during this period and market recovery is projected 2020 onwards. In 2022, sales are projected to reach 15.3 thousand units. While Istanbul is a leader in terms of tractor sales, Ankara is the main market for rigid trucks driven by the ongoing construction mega projects. The share of large fleets in total sales will be expanding, as the segment demonstrates higher resistance to economic turbulence. While large fleets represent the main customers for Turkey’s HD trucks market, the trend is stronger within the tractors segment. The OEMs based in Turkey are expected to focus on new launches and facelifts in the 4x2 tractor segment, with the key product being dual-usage tractors. The 4x2 dual usage tractor caters to users from both logistics and construction industries. Their dual-usage nature allows catering to the second-hand market and keeping the residual value of the vehicle at a higher level. The market for heavy duty commercial vehicles will be driven by construction mega projects. Ongoing construction projects are expected to positively impact the construction off-road segment, increasing its share in the total market. Demand from construction has also resulted in the formation of specific demand patterns for the Turkish heavy duty trucks market: bulk purchase of vehicles and need for immediate stock availability. Fleet renewals in the logistics segment within the upcoming period represent another strong factor, positively impacting the market. On the other hand, the market will be temporarily restrained by currency fluctuations and transition to Euro VI standards. Transition to Euro VI resulted in a pre-buy effect in 2015, when customers were increasingly buying Euro V vehicles. Transition also put pressure on the prices and stock supply of vehicles. With regard to the competitor structure, Mercedes-Benz and Ford Otosan will continue holding the leading positions in the market. The OEMs are producing locally. Local presence allows them to enjoy benefits such as price flexibility and high stock. More than five interviews have been conducted face-to-face and over the phone by senior consultants / industry analysts with vehicle manufacturers and distributors in Turkey. Primary research has accounted for 80% of the total research.

Research Scope

The study covers an overview of the key vehicle models offered in the market by competitors, their positions within both construction and logistics segments, and demand for different brands among small, medium, and large fleets. The study period is 2015–2022.


Table of Contents

Executive Summary—Key Findings

Market for HD Commercial Vehicles—Units Forecast

HD Trucks Market Outlook

Turkey’s Transition toward Euro VI Standards

Overview of Key Vehicle Segments

Key Models—Logistics: Rigid Trucks

Key Models—Logistics: Domestic and International Tractors

Key Models—Construction: Off-road Trucks

Key Models—Construction: On-road Tractors

Research Scope

Research Aim and Objectives

Research Background

Research Methodology

Study Segmentation

Historical Glance on Turkey’s Economy

Turkey—Macroeconomic Overview

Construction Sector in Turkey and Projects in Progress

Turkey’s Export Overview

Top Import Destinations and Partners—Turkey

Road Freight Development—Turkey

Market Drivers

Market Restraints

Market for Heavy Duty Commercial Vehicles—Frost & Sullivan Scenario

HD Commercial Vehicles Market—Geographical Distribution

HD Commercial Vehicles Market—Overview of the Top 5 Locations

HD Commercial Vehicles—Customer Distribution by Fleet

OEM Market Share Breakdown by Fleet Size

Tractors Market Analysis—Breakdown by Application Area

Rigid Trucks Market Analysis—Breakdown by Application Area

Heavy Duty Commercial Vehicles Market Share

Overview of Key Participants During 2014–2017

Rigid Truck Registrations by Brand

Market Share for Rigid Trucks During 2014–2017

Tractor Registrations by Brand

Market Share for Tractors During 2014–2017

Construction Segment—Market Share Analysis

Logistics Segment—Market Share Analysis

Turkish Heavy Duty Commercial Vehicles Market—5 Major Growth Opportunities

Strategic Imperatives for Success and Growth

Key Conclusions

Legal Disclaimer

Abbreviations and Acronyms Used

Market Engineering Methodology

List of Exhibits

List of Figures
  • 1. HD Commercial Vehicles Market: Key Takeaways, Turkey, 2017–2022
  • 2. HD Commercial Vehicles Market: Future Outlook, Turkey, 2017 and 2022
  • 3. Implications of Turkey’s Transition toward Euro VI Standards, 2017–2018
  • 4. HD Commercial Vehicles Market: Overview of Key Segments, Turkey, 2015–2022
  • 5. HD Commercial Vehicles Market: Overview of Key Models in the Segment of Logistics Rigid Trucks, Turkey, 2017
  • 6. HD Commercial Vehicles Market: Overview of Key Models in the Segment of Logistics Tractors, Turkey, 2017
  • 7. HD Commercial Vehicles Market: Overview of Key Models in the Segment of Construction Off-road Trucks, Turkey, 2017
  • 8. HD Commercial Vehicles Market: Overview of Key Models in the Segment of Construction On-road Tractors, Turkey, 2017
  • 9. HD Commercial Vehicles Market: Key Industry Participants, Turkey, 2017–2018
  • 10. Key Metrics Projections, Turkey, 2018 and 2020
  • 11. Export Share by Region*, Turkey, 2015 and 2017
  • 12. Major Trading Partners–Export, Turkey, 2017
  • 13. Major Export Destinations*, Turkey, 2017
  • 14. Major Import Destinations*, Turkey, 2017
  • 15. Import Share by Region,* Turkey, 2015 and 2017
  • 16. Major Trading Partners–Import, Turkey, 2017
  • 17. HD Commercial Vehicles Market: Key Market Drivers, Turkey, 2018–2022
  • 18. HD Commercial Vehicles Market: Market Drivers Overview, Turkey, 2018–2022
  • 19. HD Commercial Vehicles Market: Market Restraints, Turkey, 2018–2022
  • 20. HD Commercial Vehicles Market: Market Restraints Overview, Turkey, 2018–2022
  • 21. HD Commercial Vehicles Market: Overview of the Top 5 Locations, Turkey, 2017
  • 22. HD Commercial Vehicles Market: Key Participants’ Overview, Turkey, 2014–2017
List of Charts
  • 1. HD Commercial Vehicles Market: Units Forecast, Turkey, 2015–2022
  • 2. GDP Growth at Constant Prices, Turkey, 1990–2017
  • 3. GDP Growth at Constant Prices, Turkey, 2015–2022
  • 4. Top 10 Projects by Investment Amount, Turkey, 2017
  • 5. Project Distribution by Region, Turkey, 2017
  • 6. Road Freight Volume, Turkey, 2012–2018
  • 7. HD Commercial Vehicles Market: Unit Sales Forecast, Frost & Sullivan Scenario, Turkey, 2015–2022
  • 8. HD Commercial Vehicles Market: Unit Sales in Select Cities, Turkey, 2017
  • 9. HD Commercial Vehicles Market: Breakdown by Fleet Size across Key Segments, Turkey, 2017
  • 10. HD Commercial Vehicles Market: OEM Market Share Breakdown by Fleet Size, Turkey, 2017
  • 11. HD Commercial Vehicles Market: Tractor New Registrations Breakdown by Application Area, Turkey, 2017
  • 12. HD Commercial Vehicles Market: Tractor New Registrations Breakdown by Application Area, Turkey, 2022
  • 13. HD Commercial Vehicles Market: Rigid Truck New Registrations Breakdown by Application Area, Turkey, 2022
  • 14. HD Commercial Vehicles Market: Rigid Truck New Registrations Breakdown by Application Area, Turkey, 2017
  • 15. HD Commercial Vehicles Market: Market Share, Turkey, 2014–2017
  • 16. HD Commercial Vehicles Market: New Rigid Truck* Registrations by Brand, Turkey, 2015–2017
  • 17. HD Commercial Vehicles Market: New Rigid Truck Registrations by Brand, Turkey, 2014–2017
  • 18. HD Commercial Vehicles Market: New Tractor* Registrations by Brand, Turkey, 2015–2017
  • 19. New Tractor Registrations by Brand, Turkey, 2014–2017
  • 20. Construction Segment: Rigid Trucks Market Share, Turkey, 2017
  • 21. Construction Segment: Tractors Market Share, Turkey, 2017
  • 22. Logistics Segment: Tractors Market Share, Turkey, 2017
  • 23. Logistics Segment: Rigid Trucks Market Share, Turkey, 2017
Related Research
Heavy duty (HD) commercial vehicles sales in Turkey are expected to decline over 2017–2022. The market is expected to record a CAGR of (0.6%) during this period and market recovery is projected 2020 onwards. In 2022, sales are projected to reach 15.3 thousand units. While Istanbul is a leader in terms of tractor sales, Ankara is the main market for rigid trucks driven by the ongoing construction mega projects. The share of large fleets in total sales will be expanding, as the segment demonstrates higher resistance to economic turbulence. While large fleets represent the main customers for Turkey’s HD trucks market, the trend is stronger within the tractors segment. The OEMs based in Turkey are expected to focus on new launches and facelifts in the 4x2 tractor segment, with the key product being dual-usage tractors. The 4x2 dual usage tractor caters to users from both logistics and construction industries. Their dual-usage nature allows catering to the second-hand market and keeping the residual value of the vehicle at a higher level. The market for heavy duty commercial vehicles will be driven by construction mega projects. Ongoing construction projects are expected to positively impact the construction off-road segment, increasing its share in the total market. Demand from construction has also resulted in the formation of specific demand patterns for the Turkish heavy duty trucks market: bulk purchase of vehicles and need for immediate stock availability. Fleet renewals in the logistics segment within the upcoming period represent another strong factor, positively impacting the market. On the other hand, the market will be temporarily restrained by currency fluctuations and transition to Euro VI standards. Transition to Euro VI resulted in a pre-buy effect in 2015, when customers were increasingly buying Euro V vehicles. Transition also put pressure on the prices and stock supply of vehicles. With regard to the competitor structure, Mercedes-Benz and Ford Otosan w
More Information
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Table of Contents | Executive Summary~ || Executive Summary—Key Findings~ || Market for HD Commercial Vehicles—Units Forecast~ || HD Trucks Market Outlook~ || Turkey’s Transition toward Euro VI Standards~ || Overview of Key Vehicle Segments~ || Key Models—Logistics: Rigid Trucks~ || Key Models—Logistics: Domestic and International Tractors~ || Key Models—Construction: Off-road Trucks~ || Key Models—Construction: On-road Tractors~ | Research Scope, Objectives, Background, and Methodology~ || Research Scope~ || Research Aim and Objectives~ || Research Background~ || Research Methodology~ || Study Segmentation~ | Ongoing Trends Impacting the HD Commercial Vehicles Market~ || Historical Glance on Turkey’s Economy~ || Turkey—Macroeconomic Overview~ || Construction Sector in Turkey and Projects in Progress~ || Turkey’s Export Overview~ || Top Import Destinations and Partners—Turkey~ || Road Freight Development—Turkey~ | Market Drivers and Restraints~ || Market Drivers~ || Market Restraints~ | Heavy Duty Commercial Vehicles Outlook—Turkey~ || Market for Heavy Duty Commercial Vehicles—Frost & Sullivan Scenario~ || HD Commercial Vehicles Market—Geographical Distribution~ || HD Commercial Vehicles Market—Overview of the Top 5 Locations~ || HD Commercial Vehicles—Customer Distribution by Fleet~ || OEM Market Share Breakdown by Fleet Size~ || Tractors Market Analysis—Breakdown by Application Area~ || Rigid Trucks Market Analysis—Breakdown by Application Area~ || Heavy Duty Commercial Vehicles Market Share~ || Overview of Key Participants During 2014–2017~ || Rigid Truck Registrations by Brand~ || Market Share for Rigid Trucks During 2014–2017~ || Tractor Registrations by Brand~ || Market Share for Tractors During 2014–2017~ || Construction Segment—Market Share Analysis~ || Logistics Segment—Market Share Analysis~ | Growth Opportunities and Companies to Action~ || Turkish Heavy Duty Commercial Vehicles Market—5 Major Growth Opportunities~ || Strategic Imperatives for Success and Growth~ | Conclusions~ || Key Conclusions~ || Legal Disclaimer~ | Appendix~ || Abbreviations and Acronyms Used~ || Market Engineering Methodology~ || List of Exhibits~
Predecessor MC5F-01-00-00-00
List of Charts and Figures 1. HD Commercial Vehicles Market: Key Takeaways, Turkey, 2017–2022~ 2. HD Commercial Vehicles Market: Future Outlook, Turkey, 2017 and 2022~ 3. Implications of Turkey’s Transition toward Euro VI Standards, 2017–2018~ 4. HD Commercial Vehicles Market: Overview of Key Segments, Turkey, 2015–2022~ 5. HD Commercial Vehicles Market: Overview of Key Models in the Segment of Logistics Rigid Trucks, Turkey, 2017~ 6. HD Commercial Vehicles Market: Overview of Key Models in the Segment of Logistics Tractors, Turkey, 2017~ 7. HD Commercial Vehicles Market: Overview of Key Models in the Segment of Construction Off-road Trucks, Turkey, 2017~ 8. HD Commercial Vehicles Market: Overview of Key Models in the Segment of Construction On-road Tractors, Turkey, 2017~ 9. HD Commercial Vehicles Market: Key Industry Participants, Turkey, 2017–2018~ 10. Key Metrics Projections, Turkey, 2018 and 2020~ 11. Export Share by Region*, Turkey, 2015 and 2017 ~ 12. Major Trading Partners–Export, Turkey, 2017 ~ 13. Major Export Destinations*, Turkey, 2017~ 14. Major Import Destinations*, Turkey, 2017~ 15. Import Share by Region,* Turkey, 2015 and 2017 ~ 16. Major Trading Partners–Import, Turkey, 2017 ~ 17. HD Commercial Vehicles Market: Key Market Drivers, Turkey, 2018–2022~ 18. HD Commercial Vehicles Market: Market Drivers Overview, Turkey, 2018–2022~ 19. HD Commercial Vehicles Market: Market Restraints, Turkey, 2018–2022~ 20. HD Commercial Vehicles Market: Market Restraints Overview, Turkey, 2018–2022~ 21. HD Commercial Vehicles Market: Overview of the Top 5 Locations, Turkey, 2017~ 22. HD Commercial Vehicles Market: Key Participants’ Overview, Turkey, 2014–2017~| 1. HD Commercial Vehicles Market: Units Forecast, Turkey, 2015–2022~ 2. GDP Growth at Constant Prices, Turkey, 1990–2017~ 3. GDP Growth at Constant Prices, Turkey, 2015–2022~ 4. Top 10 Projects by Investment Amount, Turkey, 2017~ 5. Project Distribution by Region, Turkey, 2017~ 6. Road Freight Volume, Turkey, 2012–2018 ~ 7. HD Commercial Vehicles Market: Unit Sales Forecast, Frost & Sullivan Scenario, Turkey, 2015–2022~ 8. HD Commercial Vehicles Market: Unit Sales in Select Cities, Turkey, 2017~ 9. HD Commercial Vehicles Market: Breakdown by Fleet Size across Key Segments, Turkey, 2017~ 10. HD Commercial Vehicles Market: OEM Market Share Breakdown by Fleet Size, Turkey, 2017~ 11. HD Commercial Vehicles Market: Tractor New Registrations Breakdown by Application Area, Turkey, 2017~ 12. HD Commercial Vehicles Market: Tractor New Registrations Breakdown by Application Area, Turkey, 2022~ 13. HD Commercial Vehicles Market: Rigid Truck New Registrations Breakdown by Application Area, Turkey, 2022~ 14. HD Commercial Vehicles Market: Rigid Truck New Registrations Breakdown by Application Area, Turkey, 2017~ 15. HD Commercial Vehicles Market: Market Share, Turkey, 2014–2017~ 16. HD Commercial Vehicles Market: New Rigid Truck* Registrations by Brand, Turkey, 2015–2017~ 17. HD Commercial Vehicles Market: New Rigid Truck Registrations by Brand, Turkey, 2014–2017~ 18. HD Commercial Vehicles Market: New Tractor* Registrations by Brand, Turkey, 2015–2017~ 19. New Tractor Registrations by Brand, Turkey, 2014–2017~ 20. Construction Segment: Rigid Trucks Market Share, Turkey, 2017~ 21. Construction Segment: Tractors Market Share, Turkey, 2017~ 22. Logistics Segment: Tractors Market Share, Turkey, 2017~ 23. Logistics Segment: Rigid Trucks Market Share, Turkey, 2017~
Author Anna Ozdelen
Industries Automotive
WIP Number MDFB-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9807-A6,9B01-A6,9963-A6,9883-A6,9AF6-A6