An Incisive, In-depth Analysis on the Mena Commercial Vehicles Market
This study offers a comprehensive, 360 degree analysis on the Mena Commercial Vehicles market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Mena Commercial Vehicles market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Positive growth prospects in various end use industries such as construction, mining, petrochemicals and waste management are likely to boost the growth of MENA commercial vehicles market
Due to the rapid growth in the various end use industries such as construction, mining, petrochemicals and waste management, the MENA commercial vehicles market is likely to witness a rapid growth. Commercial vehicles are increasing being preferred over other transportation vehicles due to their high productivity and they can be used for many kinds of pick and drop operations. Moreover, there is a high importance of supply of raw materials and other minerals to the market in order for the economy to function well. Since the demand for natural resources and minerals is rising each passing day, the mining market in the MENA region is experiencing growth. This is expected to create significant opportunities for the commercial vehicles market and also fuel the production and sales of such transportation vehicles. Looking from another perspective, the waste management industry is experiencing growth and this in turn will affect the MENA commercial vehicles market positively. Huge amounts of waste is being generated from households, commercial, industries and from the construction sector. To handle this huge amount of waste, commercial vehicles are ideal and economical. This factor is also likely to boost the MENA commercial vehicles market.
The MENA commercial vehicles market was estimated to be valued at nearly US$ 5,250 Mn in the year 2017 and is likely to reach a valuation of nearly US$ 8,500 Mn at the end of the assessment period in the year 2027. The MENA commercial vehicles market is likely to exhibit a CAGR of 5.0% by value during 2017-2027. By volume, the MENA commercial vehicles market was pegged at 152,191 units in the year 2017 and is poised to touch a value of 212,232 units in the year 2027, and in the process exhibit a CAGR of 3.4% during 2017-2027.
Product innovation to play a vital role in the MENA commercial vehicles market
In the developed economies, the buyers of commercial vehicles are opting for vehicles that are equipped with smart features based on sensors, advanced diagnosis and automation. Manufacturers of commercial vehicles have thus adapted to this demand by employing process R&D and product innovation in advanced telematics systems. This trend is also likely to gain a foothold in the MENA market and create significant opportunities in the coming years and boost market growth. In addition, there is an introduction of new and advanced components in the driver cabin of commercial vehicles that make the job of the driver easy in all types of weather conditions. This is especially true in the severely hot countries of the MENA region, or even during heavy rain or snow and very cold conditions. In addition, due to the introduction of new high strength steel and truck bodies that can withstand the high temperatures in the MENA region, the market is poised to attain a growth trajectory. With the introduction of rugged axles and the machine superstructure manufactured with the advanced machines that can bear high load conditions are also adding to the attraction of commercial trucks market in the MENA region.
MENA Commercial Vehicles (Trucks) Market Analysis 2012–2016 and Forecast 2017–2027, By Class Type
The light duty segment in the class type category was estimated to be valued at nearly US$ 160 Mn at the end of the year 2017 and is estimated to touch a valuation of nearly US$ 250 Mn at the end of the assessment period in 2027. The medium duty segment was estimated to be valued at nearly US$ 1,850 Mn in 2017 and is likely to touch a valuation of nearly US$ 3,000 Mn in the year 2027. The heavy duty segment in the class type category of the MENA commercial trucks market was estimated to be valued at nearly US$ 3,200 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 5,300 Mn in the year 2027.
Future Market Insights presents a detailed and a meticulously prepared report titled ‘Commercial Vehicles (Trucks) Market: Middle East & North Africa (MENA) Industry Analysis 2012 – 2016 and Opportunity Assessment 2017-2027’. This report tracks the MENA commercial vehicles (trucks) market and gives the forecast for this market for a period of 10 years. Commercial vehicles are any type of motorised vehicles used solely for the transportation of goods, passengers (bus) or fuel tanks. Commercial vehicles have a gross vehicle weight rating of 26,001 or more pounds or they are designed to transport 15 or more passengers, including the driver.
In order to have an ease of understanding and a better organization of the report, the report on MENA commercial vehicles (trucks) market has been divided into four distinct parts. The first part of the report contains the introduction section that has the executive summary of the report along with the market taxonomy and the definition of the concerned commercial vehicles and the market viewpoint. Important information of the MENA region is given in the form of most important highways functional in the region and impact analysis in the form of geography and topography in the MENA region is also given in the first part. There is also a section of report in the first part that details the road safety aspects in the MENA region.
The second part of the report contains the regional commercial vehicles (trucks) market analysis and the regions are chosen as per the market taxonomy. The regions included in this report are Middle East (Saudi Arabia, Turkey, Rest of Middle East) and North Africa. In this regional section, the drivers, restrains and the trends applying to the MENA commercial vehicles (trucks) market are discussed in detail along with the regional market numbers. The last part of the report contains the MENA Commercial Vehicles (Trucks) Market Analysis 2012–2016 and Forecast 2017–2027 by region and by Class Type. This section of the report contains important market numbers in the form of market attractiveness index, incremental dollar opportunity and basis point share analysis.
Another part of the report contains the competition landscape of the MENA commercial vehicles (trucks) market and has information on the key players operating in this market. The competition landscape contains detailed information on the important companies operating in the MENA commercial vehicles (trucks) market in the form of company description, product overview, key developments, strategic overview and key financials of each of the featured companies along with the SWOT analysis of the companies. This competition landscape is a valuable part of the report as it contains all the necessary information to study the leading companies operating in the MENA commercial vehicles (trucks) market in detail and also reveals how they implement their strategies and vision to stay at top in this highly competitive market.
Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies in the MENA commercial vehicles (trucks) market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the MENA commercial vehicles (trucks) market.