Commercial Vehicles Market in Saudi Arabia to Surpass $ 8 Billion during 2017–2022
Growth in infrastructure, construction & logistics sectors across the country is anticipated to boost demand for commercial vehicles in Saudi Arabia until 2022
According
to TechSci Research report, “Saudi Arabia Commercial Vehicles Market By Vehicle Type, Competition
Forecast & Opportunities, 2022”, commercial vehicles market in Saudi Arabia is projected
to cross $ 8 billion by 2022 on
account of growing construction activities and rising demand for commercial vehicles
from various application areas such as logistics across the country. These
factors are further anticipated to positively influence the commercial vehicles
market in Saudi Arabia over the next five years.
Browse 3 Tables and 25 Figures spread through 90 Pages and an in-depth TOC on "Saudi
Arabia Commercial Vehicles Market "
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In 2016, light commercial
vehicles segment dominated the country’s commercial vehicle market, followed by
medium commercial vehicles, buses and heavy commercial vehicles. Expanding
small-scale industries and rising preference towards pickup trucks for private
and commercial use are anticipated to boost demand for light commercial
vehicles in Saudi Arabia during the forecast period as well. Among various companies,
Toyota dominated Saudi Arabia commercial vehicles market in 2016, followed by
Mitsubishi and Isuzu. Saudi Arabia is an import driven market and there is an absence
of commercial vehicle manufacturers in the country. Hence, all major OEMs cater
to the domestic demand through the network of exclusive dealers and
distributors.
Western
and Northern & Central regions dominated the Saudi Arabia commercial
vehicles market, followed by Eastern and Southern regions. Rising demand for
commercial vehicles from Western and Northern & Central regions in Saudi
Arabia can be attributed to presence of large population bases coupled with increasing
construction and building activities in these regions. Moreover, major
pilgrimage destinations in Western and Northern & Central regions adds to
the demand for commercial vehicles. Further, these regions are anticipated to
exhibit moderate growth in demand for commercial vehicles through the forecast
period, on account of increasing demand from logistics industry, construction
industry and MSMEs.
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“Constant development in the infrastructure & construction sector in
Saudi Arabia has been pushing demand for commercial vehicles in the country.
Moreover, growth in other sectors like logistics and wide application of
commercial vehicles across the various industries would continue to fuel demand
for commercial vehicles in the country in the ensuing years.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi
Arabia Commercial Vehicles Market By Vehicle Type, Competition Forecast &
Opportunities, 2022” has
analyzed the potential of Saudi Arabia commercial vehicle market, and provides
statistics and information on market sizes, shares and trends. The report will
suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by Saudi
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