The African commercial vehicle market will continue to rise until 2025. According to the US research firm Frost & Sullivan that has just released its forecast, the average annual growth is expected to be at 6.1% on a continental scale.

The African Commercial Vehicle Market (CV) is expected to grow at an average annual rate of 6.1% until 2025.

This is reflected in the report "African Commercial Vehicles Market, Forecast to 2025", which has just been published by the American research firm Frost & Sullivan. Growth will occur, "despite the slowdown due to the low price of oil and commodities, and is mainly the result of the increase in infrastructure development as well as the increasing urbanization, "the report said.

And it is Morocco, along with Nigeria and Kenya, which will record the fastest growth on the continent during this period. These three countries will even be "the only ones to increase their share in the overall market of commercial vehicles", as it is specified.

This market is currently dominated by South Africa with 53%. The light truck segment is dominated by Japanese manufacturers such as Isuzu, Toyota and Mitsubishi, which account for 67.8% of the market. On the other hand, heavy-duty trucks are fragmented, with a more balanced distribution between manufacturers.

In the bus segment, however, European manufacturers are more present, with almost 50% market share. "In North Africa, the focus is more on urban transport, as well as on government incentives to produce vehicles locally," the report said.

For its part, the African market for new trucks is dominated by premium brands in North America and Europe "Asian manufacturers, particularly those in China and India, which are expected to continue to proliferate at a rapid pace and direct the supply of valuable trucks in the region," revealed the report.

Note that new vehicles in Africa are mainly imported in parts and assembled locally, while the used ones are imported assembled.

Original Source: lematin.ma
 

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