The market report is a historical overview and in-depth study on the current and future market. The report also offers a basic overview of the market size, share, leading players, top regions with major countries data, and a detailed segmentation description. It investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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The major players in the GCC Commercial Vehicle Market include:
- Ashok Leyland
- Bosch Rexroth Middle East
- 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
Key Drivers of the GCC Commercial Vehicle Market:
The primary driver propelling the growth of the GCC commercial vehicle market includes the rising preference for connected commercial vehicles. The growing demand for commercial vehicles from logistics, infrastructure, tourism, and public transport industry has led to the growth of the GCC commercial vehicle market share in terms of revenue. The GCC region countries are focusing on diversifying its economy to decrease its dependence on the oil sector, which will help to prevent the oil price from having such a swift impact on its economy. The governments are investing in mega projects, such as Dubai Expo 2020 and FIFA World Cup 2021 in Qatar, surging tourism across the region, which is further accelerating the demand for commercial vehicles such as buses, van, and cars.
The demand for commercial vehicle is impacted by the growing number of ongoing and upcoming infrastructure projects in GCC countries, such as the red sea project in Saudi Arabia, the Smart cities project, and the development of rail infrastructure in GCC countries, which need commercial vehicles to transport goods and material to another place. Rising population and growing per capita income are boosting the higher consumption of goods. The economy of GCC countries is dependent on importing goods, thereby the increasing consumption pattern which will drastically raise the demand for transportation and logistics activities. Additionally, developing rapid transit system and metro rails in GCC countries is one of the factors fuelling growth for GCC commercial vehicle market size. On the other hand, the rise of the railway network in the GCC region and the high dependence on private cars for communicating will hamper the market’s growth.
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Segmentation of the GCC Commercial Vehicle Market:
The major regions covered in the report are UAE, Saudi Arabia, Oman, Kuwait, and Rest of GCC. It also contains regional volume and revenue of the forecast period. Moreover, it helps the reader to understand accurate data on volume sales according to the consumption for the same years.
On the basis of product, this report displays the production, revenue, price, market share, and overall growth rate of each product, primarily split into:
- Light Commercial Vehicles
- Heavy Trucks
- Buses & Coaches
On the basis of end-use, this report displays the production, revenue, price, market share, and overall growth rate of each end-use, primarily split into:
- Industrial
- Mining & Construction
- Logistics
- Passenger Transportation
- Others
On the basis of countries, this report displays the production, revenue, price, market share, and overall growth rate of each countries, primarily split into:
- UAE
- Saudi Arabia
- Oman
- Kuwait
- Rest of GCC
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