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.
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.
1. 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
2. Research Scope, Objectives, Background, and Methodology
- Research Scope
- Research Aim and Objectives
- Key Questions this Study Will Answer
- Research Background
- Research Methodology
- Study Segmentation
3. 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
4. Market Drivers and Restraints
- Market Drivers
- Drivers Explained
- Market Restraints
- Restraints Explained
5. Heavy Duty Commercial Vehicles Outlook - Turkey
- Market for Heavy Duty Commercial Vehicles
- 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
6. Growth Opportunities and Companies to Action
- 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