Press Release

Expanding Construction and Infrastructure Sectors to Drive Kuwait Commercial Vehicle Market

Growing infrastructure and construction sectors, coupled with increasing demand for logistics support and buses for public transportation to drive Kuwait commercial vehicle market through 2023

According to TechSci Research report, Kuwait Commercial Vehicle Market By Vehicle Type, By Fuel Type, By Application, Competition Forecast & Opportunities, 2013 – 2023, the country’s commercial vehicle market is projected to reach $ 940 million by 2023. Stabilizing crude oil prices, increasing construction and infrastructure development activities, growing presence of Indian and Chinese players in the bus segment, and expanding product portfolio of various commercial vehicle manufacturers are among the key factors that are expected to positively impact the demand scenario for commercial vehicles in Kuwait during the forecast period. Moreover, expanding e-commerce and logistics sectors and increasing demand for public transportation is expected to further stimulate market growth in the coming years. 

Browse 80 market data Figures and Tables spread through 111 Pages and an in-depth TOC on  "Kuwait Commercial Vehicle Market"

Kuwait Vision 2035, a government program aimed at transforming the country into a business and cultural hub, is also expected to aid the commercial vehicle market. With over half of the volume share in the country’s commercial vehicle market, light commercial vehicle segment dominated the market in 2017. Owing to growing construction activities, expanding e-commerce industry and rising inclination towards pick-up trucks, the LCV segment is anticipated to maintain its market dominance over the coming years as well. Al Farwaniyah region accounts for the largest share in the country’s commercial vehicle market, owing to comparatively higher automobile sales on account of a number of ongoing infrastructure projects in the region.

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“With expanding presence and growing portfolio of various companies such as Toyota, Hino, Hyundai, Tata, Ashok Leyland, Mercedes, etc., along with rising investments in educational facilities and housing projects in the country, demand for commercial vehicles is expected to grow at a healthy pace in Kuwait over the course of next five years. Moreover, stabilizing oil prices are anticipated to stimulate growth in the country’s commercial vehicle market through 2023.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Kuwait Commercial Vehicle Market By Vehicle Type, By Fuel Type, By Application, Competition Forecast & Opportunities, 2013 – 2023 has analyzed the potential of commercial vehicle market across the country, and provides statistics and information on market size, 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 major drivers and key challenges faced by the industry. 

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Relevant Reports

Kuwait Commercial Vehicle Market By Vehicle Type (Light Commercial Vehicles (LCV), Medium Commercial Vehicles (MCV), Heavy Commercial Vehicles (HCV)), By Fuel Type (Petrol, Diesel and Alternate Fuel), By Application (Wholesale & Retail, Transports, Mining, Construction and Others), By Region, Competition Forecast & Opportunities, 2018 – 2028

Automotive | Sep, 2018

Economic growth, infrastructure development, and increasing demand for transportation services are the key drivers of the Kuwait commercial vehicle market during the forecast period. These factors have spurred investments in logistics and fleet expansion to meet the country's growing needs.

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