Market Forecast By Product Types (Rigid Frame, Articulating Frame), By End-User Applications (Mining, Construction & Others) and competitive landscape
Product Code: ETC002218 | Publication Date: Apr 2020 | Updated Date: Aug 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Kenya Off-Highway Truck Market report thoroughly covers the market by Product Types and End-User Applications. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Kenya Off-Highway Truck Market has shown significant growth in recent years and is expected to grow during the forecast period 2024 β 2030. Factors such as rich natural resources, government initiatives towards the development of infrastructure, and their cost effectiveness are driving the growth of the market.
According to 6Wresearch, the Kenya Off-Highway Truck Market size is expected to grow at a significant CAGR of 5% during 2024-2030. Kenya is rich in natural resources like minerals, oil, and gas. The mining industry is growing due to the increasing demand for these resources, hence driving the off-highway market. Moreover, the government has been promoting industrialization and infrastructure development which resulted in increased investments in construction projects such as roads, railways, and dams, creating a demand for off-highway trucks. Additionally, off-highway trucks offer a cost-effective solution for industries operating in rough terrain or remote locations.
These trucks are expensive and require high investment to purchase. This makes it difficult for small and medium-sized enterprises to enter the market. Moreover, the lack of skilled manpower for the operation of these trucks is another challenge for the market. The poor condition of infrastructure such as roads has increased the maintenance costs of trucks, limiting their adoption in the market.
The Kenya off-highway truck market is dominated by a few major players who hold a significant share of the market. Key Players in the Kenya Off-Highway Truck Market include Tata Motors Limited, Scania AB, MAN Truck & Bus AG, Volvo Group, Daimler AG, Sinotruk (Hong Kong) Limited, Ashok Leyland Limited, Beiben Trucks Group Co., Ltd., Hino Motors, Ltd., and Isuzu Motors Limited.
The Kenyan government has invested heavily in developing and upgrading roads across the country. The construction and improvement of roads not only improve connectivity but also increase demand for off-highway trucks for transportation of materials and goods. To encourage investment in the off-highway truck market, the government offers tax incentives such as duty exemptions on imported machinery and equipment used in the production of these trucks. Another significant initiative is the Buy Kenya, Build Kenya policy implemented by the government to promote local manufacturing and reduce dependency on imports. This policy encourages the use of locally manufactured products, including off-highway trucks, in government projects.
The Kenya off-highway truck market is expected to witness significant growth in the coming years. The country's growing construction and mining activities and increasing government investments in infrastructure development projects will drive the demand for off-highway trucks. Additionally, technological advancements in off-highway trucks, such as automation and electric powertrains, will contribute to market growth.
According to Ravi Bhandari, Research Head, 6Wresearch, the rigid frame segment is currently dominating the Kenya off-highway truck market. This can be attributed to its durability and versatility, making it suitable for a wide range of applications.
In terms of end-user applications, the mining segment dominates the Kenya off-highway truck market. The growing demand for minerals and natural resources has led to an increase in mining activities, thus driving the demand for off-highway trucks.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of The Report |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Kenya Off-Highway Truck Market Overview |
3.1. Kenya Country Indicators |
3.2. Kenya Off-Highway Truck Market Revenues, 2020-2030F |
3.3. Kenya Off-Highway Truck Market Revenue Share, By Product Types, 2020 & 2030F |
3.4. Kenya Off-Highway Truck Market Revenue Share, By End-User Applications, 2020 & 2030F |
3.5. Kenya Off-Highway Truck Market - Industry Life Cycle |
3.6. Kenya Off-Highway Truck Market - Porterβs Five Forces |
4. Kenya Off-Highway Truck Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Kenya Off-Highway Truck Market Trends |
6. Kenya Off-Highway Truck Market Overview, By Product Types |
6.1. Kenya Rigid Frame Off-Highway Truck Market Revenues, 2020-2030F |
6.2. Kenya Articulating Frame Off-Highway Truck Market Revenues, 2020-2030F |
7. Kenya Off-Highway Truck Market Overview, By End-User Applications |
7.1. Kenya Off-Highway Truck Market Revenues, By Mining End-User Applications, 2020-2030F |
7.2. Kenya Off-Highway Truck Market Revenues, By Construction End-User Applications, 2020-2030F |
7.3. Kenya Off-Highway Truck Market Revenues, By Other End-User Applications, 2020-2030F |
8. Kenya Off-Highway Truck Market - Key Performance Indicators |
9. Kenya Off-Highway Truck Market - Opportunity Assessment |
9.1. Kenya Off-Highway Truck Market Opportunity Assessment, By Product Types, 2030F |
9.2. Kenya Off-Highway Truck Market Opportunity Assessment, By End-User Applications, 2030F |
10. Kenya Off-Highway Truck Market Competitive Landscape |
10.1. Kenya Off-Highway Truck Market Revenue Share, By Companies, 2023 |
10.2. Kenya Off-Highway Truck Market Competitive Benchmarking, By Operating & Technical Parameters |
11. Company Profiles |
12. Key Recommendations |
13. Disclaimer |