GCC Commercial Vehicle Market

The commercial vehicle is defined as a vehicle that is used to carry goods, materials, or passengers. The commercial vehicle can be truck, bus, van, or car and is used in transportation, logistics, mining, industrial, and other industries. These commercial vehicles are registered to a specific company and are capable of carrying more than 15 passengers.

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The major factors that are driving the growth of the GCC Commercial Vehicle market include the growing preference for connected commercial vehicles and the increasing demand for commercial vehicles from logistics, tourism, infrastructure, and public transport industry. The GCC region countries are aiming to diversify its economy to reduce its dependence on the oil sector, which will help to prevent the oil price from having such a significant impact on its economy. The governments are heavily investing in mega projects, such as Dubai Expo 2020 and FIFA World Cup 2021 in Qatar, to boost tourism across the region, which will further increase the demand for the commercial vehicles such as van, buses, and cars. The demand for commercial vehicle is also impacted by the increasing number of ongoing and upcoming infrastructure projects in GCC countries, such as Smart cities project, the red sea project in Saudi Arabia, and development of rail infrastructure in GCC countries, which require commercial vehicles to transport goods and material from one place to another. Growing population and increasing per capita income are fuelling the higher consumption of goods. The economy of GCC countries is highly dependent on importing goods, thus the growing consumption pattern will drastically increase the demand for transportation and logistics activities. In addition to this, the development of a rapid transit system and metro rails in GCC countries are likely to surge demand for commercial buses. However, the growth of railway network in GCC region and the high dependence on private cars for communicating will hinder the growth of the market.

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Based on Products, the light commercial vehicle segment is expected to grow at a higher CAGR during the forecast period owing to the increasing usage of light commercial vehicles, such as pic-up vans and small size buses, driven by its dynamic features which enable the owners to modify the vehicle.

Based on end-use, the logistics segment is projected to grow at a higher CAGR in the market during the forecast period owing to the high dependency on import of goods due to increasing demand from rising population and high disposable income, which increase the demand for logistic vehicles to transport goods and material.

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Various notable players operating in the GCC Commercial Vehicle market include Ashok Leyland,   Daimler AG, Volkswagen Middle East, Toyota Motor Corporation, TATA Motors, Volvo Group, Xiamen Golden Dragon Bus Co. Ltd., General Motors Company, Ford Motors Middle East, Hyundai Motor Co. Ltd., Mitsubishi Motor Corporation, among others.

The GCC Commercial Vehicle market has been segmented based on Products, and End-use. Based on Products, the market is segmented into Light Commercial Vehicles, Heavy Trucks, and Buses & Coaches. Based on End-use, the market is segmented Industrial, Mining & Construction, Logistics, Passenger Transportation, and Others.

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Key questions answered in this research report:

• • At what pace is the GCC Commercial Vehicle market growing? What will be the trend in growth in the future?
  • What are the key drivers and restraints in the GCC Commercial Vehicle market? What will be the impact of drivers and restraints in the future?
  • Which product generated maximum revenues in 2019 and identify the most promising product during the forecast period?
  • What are the various products of the GCC Commercial Vehicle market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

GCC Commercial Vehicle Market by Product

• • Light Commercial Vehicles
  • Heavy Trucks
  • Buses & Coaches

GCC Commercial Vehicle Market by End-use

• • Industrial
  • Mining & Construction
  • Logistics
  • Passenger Transportation
  • Others

GCC Commercial Vehicle Market by Countries

• • UAE Commercial Vehicle Market All-Up (Option 1: Free 25% Customization)
  • Saudi Arabia Commercial Vehicle Market All-Up (Option 2: Free 25% Customization)
  • Oman Commercial Vehicle Market All-Up (Option 3: Free 25% Customization)
  • Kuwait Commercial Vehicle Market All-Up (Option 4: Free 25% Customization)
  • Rest of GCC Commercial Vehicle Market All-Up (Option 5: Free 25% Customization)

GCC Commercial Vehicle Leading market players (Option 6: As a part of free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Ashok Leyland
  • Daimler AG
  • Volkswagen Middle East
  • Toyota Motor Corporation
  • TATA Motors
  • Volvo Group
  • General Motors Company
  • Ford Motors Middle East
  • Hyundai Motor Co. Ltd.
  • Mitsubishi Motor Corporation