The truck market - Italy

A truck is a vehicle used to transport goods by road. This means of transport differs from other vehicles used for transporting goods by road in that it has its own traction. Internationally, trucks are classified into three macro-groups: N1, N2, N3 on the basis of vehicle mass. In addition, different types of trucks can be distinguished, such as those with a body and crane behind the cab, silo and tank trucks, trucks with an extended cab, etc. In 2020, the global truck market was worth $201.52 billion. The future outlook is for the market to grow at an annual growth rate of 10.5% between 2021 and 2025, reaching a value of $330.32 billion at the end of the forecast period. Despite this, the global market has very different characteristics: on the one hand, there are the more developed countries that are characterized by heavy regulations in this regard and a very feature-focused demand; on the other hand, there are the less developed countries where this market is much more cost-conscious than the features offered. After a period of stagnation due to the Covid-19 pandemic, the Italian truck market is beginning to show the first signs of recovery: in fact, there is an average increase in registrations of 9% and Italy is confirmed as the European nation with the largest increase in the number of registrations. The most popular brands in the Italian truck market are Iveco, Scania and Mercedes-Benz, and in terms of type, the one with the highest sales is the N2 category. Within this market, a particularly relevant emerging trend is the growing customer focus on advanced assisted driving technologies and safety features that vehicles are equipped with, such as, for example, the collision mitigation system (CMS) or the lane departure warning system that aim to increase road safety by reducing the likelihood of accidents.