Trucks Industry in GCC
Transportation is emerging as one of the key drivers of economic activity in the GCC market.
The market size of the trucks transportation is estimated at $35 billion.
It is estimated that one million trucks are currently in operation across the GCC region and this number of trucks increases by 5% to 9% every year.
As per FMI Comprehensive Research Report, MENA Commercial Vehicles (Trucks) Market to reach US$ 8.55 Bn by 2027 with a growth rate reaches to 3.4% between 2022 and 2927
Rapid development and growth of oil and gas industry in the rest of Middle East region to boost market revenue growth
MENA Commercial Vehicles (Trucks) Market: Segmentation and Forecast
The MENA commercial vehicles (trucks) market is segmented on the basis of class type and region. On the basis of class type, the market is segmented into light duty, medium duty and heavy duty. On regional basis, the market is segmented into Middle East (Saudi Arabia, Turkey, Rest of Middle East) and North Africa.
The heavy duty segment was estimated to be valued at nearly US$ 3,200 Mn in 2021 and is likely to reach a valuation of nearly US$ 5,300 Mn in 2027 and in the process exhibit a CAGR of 5.1%.
The medium duty segment was estimated to be valued at nearly US$ 1,850 Mn in 2021 and is anticipated to reach a valuation of nearly US$ 3,000 Mn in 2027 and exhibit a CAGR of 4.8%.