Market Insights Mobility Commercial Vehicles

Trucks - MENA

MENA

The Trucks market in the MENA region is projected to reach a total of 137.50k vehicles unit sales by 2024.
This market is expected to grow steadily with a compound annual rate of 2.52% from 2024 to 2030, resulting in a projected market volume of 159.60k vehicles units by the end of 2030.
The growth potential of the Trucks market can be seen in the anticipated production reaching 172.80k vehicles units by 2030.
When considering the international market, it is evident that in China will dominate the sales in 2024, with an estimated figure of 3,741.00k vehicles units.
This showcases the significant presence and demand for Trucks market in the Chinese market.
The demand for heavy-duty trucks in the MENA region, particularly in Saudi Arabia, is driven by the growth of the construction and infrastructure sectors.

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Analyst Opinion

The Trucks market in the Middle East and North Africa (MENA) is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the MENA region play a crucial role in shaping the Trucks market.

The demand for trucks is primarily driven by industries such as construction, logistics, and transportation. These sectors require reliable and durable trucks that can handle heavy loads and rough terrains. Additionally, customers in the MENA region also prioritize fuel efficiency and low maintenance costs, as these factors contribute to overall operational cost savings.

Trends in the market indicate a shift towards more technologically advanced trucks. With the increasing adoption of digitalization and automation in various industries, there is a growing demand for trucks equipped with advanced features such as telematics, GPS tracking, and driver assistance systems. These technologies improve efficiency, safety, and overall performance, making them highly desirable in the MENA market.

Local special circumstances also impact the development of the Trucks market in the MENA region. For example, the region's extreme weather conditions, including high temperatures and desert terrains, require trucks that are specifically designed to withstand such harsh environments. Manufacturers are focusing on developing trucks with enhanced cooling systems, robust chassis, and specialized tires to cater to these unique requirements.

Underlying macroeconomic factors also contribute to the growth of the Trucks market in the MENA region. The region's increasing population, urbanization, and infrastructure development projects drive the demand for trucks. The construction industry, in particular, plays a significant role in fueling the market growth as it requires a large number of trucks for transporting construction materials, equipment, and personnel.

Furthermore, the MENA region's strategic location as a trade hub between Europe, Asia, and Africa creates opportunities for the transportation and logistics sector. The need for efficient and reliable trucks to facilitate cross-border trade and transportation is driving the market growth. In conclusion, the Trucks market in the MENA region is experiencing growth and development due to customer preferences for reliable and fuel-efficient trucks, the adoption of advanced technologies, local special circumstances, and underlying macroeconomic factors such as population growth and infrastructure development.

Manufacturers and industry players in the region need to understand these factors and adapt their strategies to capitalize on the opportunities presented by this evolving market.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of trucks.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.