MENA Commercial Vehicles (Trucks) Market to reach US$ 8.55 Bn by 2027 - Comprehensive Research Report by FMI

·8 min read

MENA Commercial Vehicles (Trucks) Market - Analysis, Outlook, Growth, Trends, Forecasts

DUBAI, United Arab Emirates, Jan. 18, 2022 (GLOBE NEWSWIRE) -- The MENA commercial vehicles (trucks) market is projected to expand at 3.4% CAGR, in terms of volume between 2022 and 2027. Sales of commercial vehicles (trucks) in MENA will reach US$ 6.57 Mn by the end of 2022.

MENA Commercial Vehicles Market Base Year Value (2021A)

US$ 6.26 Bn

MENA Commercial Vehicles Market Estimated Year Value (2022E)

US$ 6.57 Bn

MENA Commercial Vehicles Market Projected Year Value (2027F)

US$ 8.55 Bn

Value CAGR (2022-2027)

5.2%

Collective Value Share: Top 2 Countries (2022E)

35.8%

A new report published by Future Market Insights titled ‘Commercial Vehicles (Trucks) Market: Middle East & North Africa (MENA) Industry Analysis 2012 – 2021 and Opportunity Assessment 2022-2027’ studies the performance of MENA commercial vehicles (trucks) market over a 15 year assessment period from 2012 to 2027.

Request for Report Sample - https://www.futuremarketinsights.com/reports/sample/rep-gb-6106

The report presents the value and volume forecasts of the MENA commercial vehicles (trucks) market and provides key insights into the factors driving market growth as well as the factors restricting the market growth.

The estimates point to a revenue growth from nearly US$ 5,250 Mn in 2021 to nearly US$ 8,500 Mn by 2027 end, resulting in a CAGR of 5.0% during the period of assessment. In terms of volume, the MENA commercial vehicles (trucks) market was pegged at 152,191 units in the year 2021 and is poised to reach a figure of 212,232 units in 2027, and display a CAGR of 3.4% in the forecast period.

Rapid development and growth of oil and gas industry in the rest of Middle East region to boost market revenue growth

Commercial vehicles are commonly used as a medium of transport for different types of end use industries and they are helping in tasks such as unloading, loading and transportation of goods. The construction industry is exhibiting a fast growth due to the vast number of projects in the pipeline in each country of the Middle East and this also has connection with the plans of the countries in the Middle Eastern region to diversify their economies.

These developments are also related to the large scale international events that are going to be held in this region such as World Expo 2020 to be held in Dubai and the FIFA World Cup 2022 to be held in Qatar.

The construction industry in Iran was estimated to be valued at US$ 154.4 billion in 2016 from US$ 88 billion in the year 2013 and due to this upward growth, the market for heavy trucks is likely to boost in this country. Also, due to the rising urbanization, the construction industry is experiencing rapid growth in rest of the countries in the Middle East which is further expected to boost the demand for commercial vehicles in building and construction activities in the region.

Iran is also one of the biggest markets for trucks in the MENA region, and with the economic sanctions lifted up from Iran, it is experiencing a huge growth in its economy and is likely to be one of the prominent markets for heavy duty commercial vehicles.

On the other hand, other countries in the region like UAE and Oman are also becoming attractive markets for commercial vehicles due to their vast use in end-use industries such as the petrochemical industries, and this is expected to boost the overall demand for trucks in the Middle East region.

Speak to our Research Expert: https://www.futuremarketinsights.com/ask-question/rep-gb-6106

MENA Commercial Vehicles (Trucks) Market: Segmentation and Forecast

The MENA commercial vehicles (trucks) market is segmented on the basis of class type and region. On the basis of class type, the market is segmented into light duty, medium duty and heavy duty. On regional basis, the market is segmented into Middle East (Saudi Arabia, Turkey, Rest of Middle East) and North Africa.

  • The heavy duty segment was estimated to be valued at nearly US$ 3,200 Mn in 2021 and is likely to reach a valuation of nearly US$ 5,300 Mn in 2027 and in the process exhibit a CAGR of 5.1%.

  • The medium duty segment was estimated to be valued at nearly US$ 1,850 Mn in 2021 and is anticipated to reach a valuation of nearly US$ 3,000 Mn in 2027 and exhibit a CAGR of 4.8%.

MENA Commercial Vehicles (Trucks) Market: Regional Forecast

  • The commercial vehicles (trucks) market in Saudi Arabia was estimated to be valued at nearly US$ 560 Mn in 2021 and is likely to reach a valuation of nearly US$ 900 Mn in the year 2027 and exhibit a CAGR of 4.6% during the assessment period.

  • The commercial vehicles (trucks) market in Turkey was estimated to be valued at nearly US$ 1,350 Mn in 2021 and is anticipated to reach a valuation of nearly US$ 2,150 Mn in 2027 and exhibit a CAGR of 5% during the period of forecast.

MENA Commercial Vehicles (Trucks) Market: Vendor Insights

This report includes some of the key players functioning in the MENA commercial vehicles (trucks) market such as Daimler AG, AB Volvo, Scania AB, Paccar Inc., MAN SE, Navistar International Corp., Hino Motors, Ltd., Isuzu Motors Ltd., Dongfeng Motor Corporation, FAW Group Corporation, Toyota Motor Corporation, Ford Motor Company, Nissan Motor Company Limited, General Motor Company and Volkswagen AG. Manufacturers are using advanced telematics systems and financing options to lure customers.

Get Customization on this Report for Specific Country: https://www.futuremarketinsights.com/customization-available/rep-gb-6106

Scope of Report

Attribute

Details

Forecast Period

2022-2027

Historical Data Available for

2012-2021

Market Analysis

USD Million for Value and Unit for Volume

Key Regions Covered

Middle East and Northern Africa

Key Countries Covered

Saudi Arabia, Turkey

Key Segments Covered

Class Type, and Region

Key Companies Profiled

  • Daimler AG

  • AB Volvo

  • Scania AB

  • Paccar Inc.

  • MAN SE

  • Navistar International Corp.

  • Hino Motors, Ltd.

  • Isuzu Motors Ltd.

  • Dongfeng Motor Corporation

  • FAW Group Corporation

  • Toyota Motor Corporation

  • Ford Motor Company

  • Nissan Motor Company Limited

  • General Motor Company

  • Volkswagen AG

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

About the Automotive Division of FMI

The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

Explore FMI’s Extensive ongoing Coverage on Automotive Domain

Powerglide Shifter Market: According to latest research by Future Market Insights, powerglide shifter market will grow at a moderate rate during 2021-2031.

Oil Catch Cans Market: According to the latest research from Future Market Insights, oil catch cans market is projected to grow steadily between 2021 and 2031 at a CAGR of 3% to 5%.

Oil Breather Tank Market: According to the latest research from Future Market Insights, oil breather tank market is expected to grow steadily at a CAGR of 3%-5% between 2021 and 2031.

EV Charging Cables Market: According to latest research by Future Market Insights, EV Charging Cables market is set to witness a robust growth during 2021-2031 reflecting a CAGR of over 6% during the same period.

Automotive Brackets Market: The steady growth in the demand of passenger cars will benefit the demand for automotive brackets in the coming years.

Automatic Gearbox Valves Market: The automatic gearbox valves sales is estimated to grow steadily between 2021 and 2031, with a CAGR of 4% - 6%, according to Future Market Insights' latest study.

Automotive Brake Tube Market: According to latest research by Future Market Insights, automotive brake tube market is set to witness steady growth during 2021-2031.

Automotive Cross Member Market: According to latest research by Future Market Insights, automotive cross member market is set to witness steady growth during 2021-2031.

Automotive Console Box Market: According to latest research by Future Market Insights. Automotive console box market is set to witness stable growth during 2021-2031.

Automotive Counter Shaft Market: According to latest research by Future Market Insights, automotive counter shaft market is set to witness steady growth during 2021-2031.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:

Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/mena-commercial-vehicles-market
Press Release Source: https://www.futuremarketinsights.com/press-release/mena-commercial-vehicles-market



Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting