Saudi Arabia Commercial Vehicles Market By Vehicle Type (Light Commercial Vehicle, Medium Commercial Vehicle, Heavy Commercial Vehicle and Bus), Competition, Forecast & Opportunities, 2014 – 2024
Saudi Arabia commercial vehicles market stood at around $ 3.4 billion in 2018 and is forecast to grow at a CAGR of 4.9% during the forecast period to reach $ 4.2 billion by 2024, on account of increasing use of commercial vehicles in logistics and transportation sectors. Flourishing small and medium-sized enterprises are generating huge demand for commercial vehicles in the country. Moreover, growing government focus on the development of the country’s construction and tourism sectors in line with the Saudi Vision 2030 policy is further anticipated to fuel demand for commercial vehicles in coming years.
Years considered for this report:
Historical Years: 2014 – 2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020 – 2024
Objective of the Study:
- To study Saudi Arabia commercial vehicles market scenario, which covers light commercial vehicle, medium and heavy commercial vehicle and bus segments.
- To analyze and forecast Saudi Arabia commercial vehicles market size.
- To classify and forecast Saudi Arabia commercial vehicles market based on vehicle type, region, and company.
- To identify drivers and challenges for Saudi Arabia commercial vehicles market.
- To identify market trends & developments in Saudi Arabia commercial vehicles market.
- To profile leading players operating in Saudi Arabia commercial vehicles market.
Some of the major players operating in Saudi Arabia commercial vehicles market are Toyota Motors Corporation, Isuzu Motors Saudi Arabia Company Limited, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Limited, Ford Motor Company, and Hyundai Motor Company.
In order to perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of commercial vehicle players operating in Saudi Arabia. Subsequently, TechSci Research conducted primary research surveys, which includes primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were asked about their major competitors. Through this technique, TechSci Research was able to include companies which could not be identified due to the limitations of secondary research.
TechSci Research calculated Saudi Arabia commercial vehicles market size by using a bottom-up technique, wherein commercial vehicle manufacturers’ volume sales data for different vehicle types (light commercial vehicle, medium and heavy commercial vehicle and bus) was recorded as well as forecast for future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated by analyzing historical sales data of respective commercial vehicle manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Commercial vehicle manufacturers and distributors
- Industry associations, organizations, forums and alliances related to commercial vehicles market
- Government bodies such as regulatory authorities and policy makers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as commercial vehicle companies, distributors and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Saudi Arabia commercial vehicles market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Vehicle Type
- Light Commercial Vehicles
- Medium Commercial Vehicles
- Heavy Commercial Vehicles
- Market, by Region
- Northern & Central
- Market, by Company
- Toyota Motor Corporation
- Isuzu Motors Saudi Arabia Company Limited
- Mitsubishi Fuso Truck and Bus Corporation
- Hino Motors Limited
- Ford Motor Company
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia commercial vehicles market.
Available Customizations: With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information: Detailed analysis and profiling of additional market players (up to five).Please Note:
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