The Middle East/North Africa (MENA) commercial vehicle Industry, which was valued at USD 6.6 billion in 2022, is projected to grow to USD 6.9 billion in 2023. By 2033, the Industry is expected to exceed USD 11.4 billion. According to Future Industry Insights, this Industry is anticipated to expand at a CAGR of 5.1% from 2023 to 2033.
The Middle East and North Africa (MENA) Commercial Vehicles Industry is poised for robust growth as regional economies expand and modernize. This sector, encompassing trucks, buses, and light commercial vehicles, is a critical enabler for trade, logistics, construction, and public transportation.
The MENA region’s strategic focus on infrastructure development, urbanization, and trade expansion is creating a substantial demand for commercial vehicles. Additionally, the rise of e-commerce has bolstered the need for efficient logistics solutions, further accelerating Industry growth.
Governments and private players are investing in sustainable mobility solutions, driving the adoption of electric and hybrid commercial vehicles. Furthermore, advancements in telematics, fleet management technologies, and autonomous vehicles are shaping the future of the industry. Key Industrys such as Saudi Arabia, the UAE, and Egypt are at the forefront, supported by favorable policies and substantial investments in transportation infrastructure.
As innovation and sustainability become pivotal, the MENA commercial vehicles industry is set to play a crucial role in the region’s economic transformation, ensuring efficient and eco-friendly mobility solutions.
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Key Drivers:
- Infrastructure Investments:
Mega-projects like NEOM in Saudi Arabia and Expo City in the UAE are driving demand for construction and heavy-duty commercial vehicles. - E-commerce Expansion:
The rapid growth of online retail is boosting demand for light commercial vehicles in last-mile delivery operations. - Government Initiatives:
Policies promoting electrification and emissions reduction are encouraging the adoption of green commercial vehicle technologies. - Trade and Logistics Growth:
MENA’s role as a global trade hub increases the need for reliable, high-performance commercial vehicles for freight transportation. - Technological Advancements:
Integration of telematics, fleet management systems, and autonomous driving technologies enhances operational efficiency and safety.
Key Takeaways:
- Electric and hybrid commercial vehicles are gaining traction, aligned with sustainability goals and emissions regulations.
- Heavy-duty trucks and construction vehicles dominate demand, driven by large-scale infrastructure projects in the region.
- E-commerce-driven logistics is a major growth area, particularly for light commercial vehicles.
- Saudi Arabia and the UAE lead the Industry, supported by government policies and high infrastructure spending.
- The adoption of connected and autonomous vehicle technologies is shaping the industry’s future, improving efficiency and safety.
Competitive Landscape
Prominent vehicle manufacturers are looking for acquisitions and joint ventures. They are trying to penetrate into the market and boost their revenues. Manufacturing companies are also focusing on new infrastructural project launches.Daimler AG; Volvo AB; Scania AB; Paccar Inc.; Navistar International Corp.; Hino Motors Ltd.; Isuzu Motors Ltd.; Dongfeng Motor Corporation; FAW Group Corporation; Toyota Motor Corporation; Ford Motor Company; Nissan Motor Company Limited; General Motor Company; Volkswagen AG
They are increasing investments in public transportation activities. Manufacturing companies are also focusing on new product launches and acquisition strategies.
For instance,
- In December 2022, Admiral Mobility declared that it would bring 5000 electric commercial vehicles. It joined hands with Geely Farizon New Energy Commercial Vehicle Group. The company will take its first delivery in early 2024. The company wants to keep up with Sustainable Development Goals of the United Arab Emirates.
- In May 2022, Daimler Truck acquired a stake in German high-tech machinery manufacturer Manz. Both companies agreed on a strategic partnership. The investment of Daimler amounts to around 10% of share capital.
Middle East/North Africa (MENA) Commercial Vehicles Market Outlook by Category
By Product Type:
- Trucks
- Buses
- Vans
- Trailers
By Class Type:
- Light Duty
- Medium Duty
- Heavy Duty
By Country:
- United Arab Emirates
- Türkiye
- Saudi Arabia
- Algeria
- Egypt
- Morocco
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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