Pickup Trucks - Kuwait

Kuwait

The Pickup trucks market in Kuwait is expected to generate a revenue of US$45m Kuwaiti Dinars in 2024.
This revenue is projected to grow at an annual rate of 0.61% from 2024 to 2028, resulting in a market volume of US$46m Kuwaiti Dinars by 2028.
In that year, unit sales of Pickup trucks market in Kuwait are expected to reach 1.4k vehicles.
The volume weighted average price of Pickup trucks market in Kuwait in 2024 is estimated to be US$32k Kuwaiti Dinars.
Looking at the international market, it is evident that United States will generate the highest revenue in the Pickup trucks market, with a projected revenue of US$79,220m in 2024.
In Kuwait, the demand for pickup trucks has been steadily increasing due to the country's rugged terrain and the need for reliable transportation in desert areas.

Key regions: Worldwide, India, Europe, United States,

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. 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, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

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. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).