Saudi Arabia Commercial Vehicles Market Growth, Size, Trends, Revenue and Future Competition
Saudi Arabia Commercial Vehicles Market Size- By Vehicle Type, By Propulsion, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2023 | Report ID: AMIN2398 | Pages: 1 - 104 | Formats*: |
| Category : Automotive & Transportation | |||
Saudi Arabia Commercial Vehicles Market Overview
According to SPER Market Research, the Saudi Arabia Commercial Vehicles Market is estimated to reach USD 6.59 billion by 2033 with a CAGR 5.13%.
Commercial vehicles in Saudi Arabia refer to a large class of automobiles used for business purposes there. These vehicles are generally made and used for moving people, goods, or materials in support of various business, government, and industrial sectors. They consist of trucks, vans, buses, and specialised vehicles outfitted with features and arrangements made for certain commercial uses. Logistics, building, infrastructure development, industrial operations, retail, e-commerce, and fleet management all rely heavily on commercial vehicles in Saudi Arabia. They help the nation's overall economic development and progress by facilitating the efficient flow of commodities, services, and people.
Exploring the Growth Drivers of the Saudi Arabia Commercial Vehicles Industry
The demand for commercial vehicles in the Saudi Arabia market has witnessed significant growth in recent years, leading to an expansion of the industry. These vehicles are crucial for transporting both passengers and goods. The automotive sector plays a vital role in driving a nation's economic progress, and Saudi Arabia, being one of the wealthiest countries and a major producer of automobile components in the Middle East, has a substantial impact on the regional market. Approximately half of the vehicles sold in the region originate from Saudi Arabia. The growth of the logistics sector and ongoing infrastructure projects are the primary factors influencing the Saudi Arabian commercial vehicle market. With the recovery of economies from the global pandemic and the subsequent increase in international trade activities, the demand for commercial vehicles is expected to continue rising, driving further market expansion in the forecast period.
What challenges does the Saudi Arabia Commercial Vehicles Market face?
The market for commercial cars in Saudi Arabia confronts a number of difficulties, including changing oil prices. The sale of oil is vital to Saudi Arabia's economy. Changes in oil prices may have an effect on the health of the economy as a whole, which may have an impact on the demand for commercial vehicles. Reduced government spending and investments as a result of lower oil prices may have an impact on construction and infrastructure projects. The Saudi Arabian regulatory environment may also present difficulties for the commercial vehicle market. For enterprises working in the sector, compliance with different rules, such as vehicle standards, emissions criteria, licencing, and safety regulations, can increase expenses and administrative difficulties.
In what ways has the COVID-19 pandemic affected Saudi Arabia Commercial Vehicles Market?
The COVID-19 epidemic has had a variety of effects on the Saudi Arabian commercial vehicle sector. Due to the disruption of global supply systems, there was a shortage of auto parts. A decline in consumer demand and economic downturn resulted in a fall in the market for commercial cars. Leasing and financing activity decreased as companies grew wary about taking on additional debt. The demand for particular types of vehicles was impacted by modifications in consumer behaviour and preferences. A greater emphasis on vehicle hygiene increased the expense of sanitary measures. Manufacturers and dealers were affected by financial restrictions. The market is anticipated to gradually recover as the pandemic situation changes, but the long-term impacts are still unclear.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Vehicle Type, By Propulsion, By Application |
| Regions covered | Eastern Saudi Arabia, Northern & Central Saudi Arabia, Southern Saudi Arabia, Western Saudi Arabia |
| Companies Covered | Ashok Leyland, Ford Motor Company, Hino Motors Limited, Hyundai Motor Company, Isuzu Motors Saudi Arabia Company Limited, MAN Truck and Bus Middle East, Mitsubishi Fuso Truck and Bus Corporation, Tata Motors Limited, Toyota Motors Corporation, Volvo Bus Mercedes-Benz KSA Commercial Vehicles, Volvo Trucks Corporation, Others |
Key Target Audience:
- Construction and Infrastructure Companies
- Fleet Management Companies
- Government and Municipalities
- Industrial Sector
- Rental and Leasing Companies
- Retail and E-commerce
- Transport and Logistics Companies
- Others
Saudi Arabia Commercial Vehicles Market Segmentation:
1. By Vehicle Type:
- Saudi Arabia Commercial Vehicles Market Value Share and Forecast, By Vehicle Type, 2023-2033
- Bus
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Medium Commercial Vehicles
2. By Propulsion:
- Saudi Arabia Commercial Vehicles Market Value Share and Forecast, By Propulsion, 2023-2033
- Electric Vehicle
- ICE Vehicle
3. By Application:
- Saudi Arabia Commercial Vehicles Market Value Share and Forecast, By Application, 2023-2033
- Construction
- Logistics
- Transportation & Tourism
4. By Region:
- Eastern Saudi Arabia
- Northern & Central Saudi Arabia
- Southern Saudi Arabia
- Western Saudi Arabia
Key Topics Covered in the Report:
- Saudi Arabia Commercial Vehicles Market Size (FY’2023-FY’2033)
- Overview of Saudi Arabia Commercial Vehicles Market
- Segmentation of Saudi Arabia Commercial Vehicles Market By Vehicle Type (Bus, Heavy Commercial Vehicles, Light Commercial Vehicles, Medium Commercial Vehicles)
- Segmentation of Saudi Arabia Commercial Vehicles Market By Propulsion (Electric Vehicle, ICE Vehicle)
- Segmentation of Saudi Arabia Commercial Vehicles Market By Application (Construction, Logistics, Transportation & Tourism)
- Statistical Snap of Saudi Arabia Commercial Vehicles Market
- Growth Analysis of Saudi Arabia Commercial Vehicles Market
- Problems and Challenges in Saudi Arabia Commercial Vehicles Market
- Competitive Landscape in the Saudi Arabia Commercial Vehicles Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Commercial Vehicles Market
- Details on Recent Investment in Saudi Arabia Commercial Vehicles Market
- Competitive Analysis of Saudi Arabia Commercial Vehicles Market
- Key Players in the Saudi Arabia Commercial Vehicles Market
- SWOT Analysis of Saudi Arabia Commercial Vehicles Market
- Saudi Arabia Commercial Vehicles Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Saudi Arabia Commercial Vehicles Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Commercial Vehicles Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Commercial Vehicles Market
7. Saudi Arabia Commercial Vehicles Market, By Vehicle Type (USD Million)
7.1. Saudi Arabia Commercial Vehicles Market Value Share and Forecast, By Vehicle Type, 2023-20337.2. Bus7.3. Heavy Commercial Vehicles7.4. Light Commercial Vehicles7.5. Medium Commercial Vehicles
8. Saudi Arabia Commercial Vehicles Market, By Propulsion (USD Million)
8.1. Saudi Arabia Commercial Vehicles Market Value Share and Forecast, By Propulsion, 2023-20338.2. Electric Vehicle8.3. ICE Vehicle
9. Saudi Arabia Commercial Vehicles Market, By Application (USD Million)
9.1. Saudi Arabia Commercial Vehicles Market Value Share and Forecast, By Application, 2023-20339.2. Construction9.3. Logistics9.4. Transportation & Tourism
10. Saudi Arabia Commercial Vehicles Market Forecast, 2019-2033 (USD Million)
10.1. Saudi Arabia Commercial Vehicles Market Size and Market Share
11. Saudi Arabia Commercial Vehicles Market, By Vehicle Type, 2019-2033 (USD Million)
11.1. Saudi Arabia Commercial Vehicles Market Size and Market Share by Vehicle Type (2019-2026)11.2. Saudi Arabia Commercial Vehicles Market Size and Market Share by Vehicle Type (2027-2033)
12. Saudi Arabia Commercial Vehicles Market, By Propulsion, 2019-2033 (USD Million)
12.1. Saudi Arabia Commercial Vehicles Market Size and Market Share by Propulsion (2019-2026)12.2. Saudi Arabia Commercial Vehicles Market Size and Market Share by Propulsion (2027-2033)
13. Saudi Arabia Commercial Vehicles Market, By Application, 2019-2033 (USD Million)
13.1. Saudi Arabia Commercial Vehicles Market Size and Market Share by Application (2019-2026)13.2. Saudi Arabia Commercial Vehicles Market Size and Market Share by Application (2027-2033)
14. Saudi Arabia Commercial Vehicles Market, By Region, 2019-2033 (USD Million)
14.1. Saudi Arabia Commercial Vehicles Market Size and Market Share by Region (2019-2026)14.2. Saudi Arabia Commercial Vehicles Market Size and Market Share by Region (2027-2033)14.3. Eastern Saudi Arabia14.4. Northern & Central Saudi Arabia14.5. Southern Saudi Arabia14.6. Western Saudi Arabia
15. Company Profile
15.1. Ashok Leyland15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Ford Motor Company15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Hino Motors Limited15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. Hyundai Motor Company15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Isuzu Motors Saudi Arabia Company Limited15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. MAN Truck and Bus Middle East15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. Mitsubishi Fuso Truck and Bus Corporation15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Tata Motors Limited15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. Toyota Motors Corporation15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Volvo Bus Mercedes-Benz KSA Commercial Vehicles15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments15.11. Volvo Trucks Corporation15.11.1. Company details15.11.2. Financial outlook15.11.3. Product summary15.11.4. Recent developments15.12. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Saudi Arabia Commercial Vehicles Market is projected to reach USD 6.59 billion by 2033, growing at a CAGR of 5.13% during the forecast period.
Saudi Arabia Commercial Vehicles Market grew in market size from 2023. The Market is expected to reach USD 6.59 billion by 2033, at a CAGR of 5.13% during the forecast period.
Saudi Arabia Commercial Vehicles Market CAGR of 5.13% during the forecast period.
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Saudi Arabia Commercial Vehicles Market size is USD 6.59 billion from 2023 to 2033.
Saudi Arabia Commercial Vehicles Market Segment is Covered By Vehicle Type, By Propulsion, By Application
The Middle East region is anticipated to have the highest market share in Saudi Arabia Commercial Vehicles Market.
The key players in the market include Companies Covered Ashok Leyland, Ford Motor Company, Hino Motors Limited, Hyundai Motor Company, Isuzu Motors Saudi Arabia Company Limited, MAN Truck and Bus Middle East, Mitsubishi Fuso Truck and Bus Corporation, Tata Motors Limited, Toyota Motors Corporation, Volvo Bus Mercedes-Benz KSA Commercial Vehicles, Volvo Trucks Corporation, Others
The demand for commercial vehicles in the Saudi Arabia market has witnessed significant growth in recent years, leading to an expansion of the industry.
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