According to Middle East/North Africa (MENA) commercial vehicle industry analysis, it would reach US$ 6.9 billion in 2023. The market stood at US$ 6.6 billion in 2022.
In 2033, it would surpass US$ 11.4 billion. Future Market Insights predicts the market to expand at 5.1% CAGR from 2023 to 2033.
Demand for heavy-duty commercial vehicles would contribute to about 47% of market share in 2023. It is attributed to increasing investments in logistics and construction activities across the MENA region.
Commercial vehicles are gaining high popularity in MENA countries. They are used in industries such as waste management, mining, construction, and petrochemicals.
The Middle East and Africa will continue to be crucial geographies for expansion of petrochemicals. There is high emphasis on using upstream gas production. Companies are diverting their oil output away from the fuel industry to chemicals.
Commercial vehicle demand would increase significantly across the MENA. Demand for material handling and carrying equipment such as commercial trucks & trailers would expand. Large projects receiving domestic government approval and capital investments in mega locations would boost sales.
The International Energy Agency forecasts a 5-billion-barrel daily rise in the demand for oil for road freight by 2050. Trucks, buses, and trailers play a significant role in transportation of goods, people, and commodities.
Future Market Insights estimates 1/4th of the global market will be held by the commercial truck segment by 2033. New petrochemical projects and oil & gas upstream projects are responsible for the same.
The study reveals that the commercial vehicle industry would create an absolute dollar opportunity of US$ 4.5 billion during the assessment period. Continuous infrastructural development and rising disposable income would support expansion.
Development of carbon-emission-reducing commercial vehicles will be spurred by growing demand for ecologically friendly transportation options. Manufacturers are focusing on developing innovative car designs.
They are also minimizing vehicle size and load considerations. A few automakers are personalizing automobiles in accordance with weight restrictions.
| Attributes | Key Insights |
|---|---|
| Middle East/North Africa (MENA) Commercial Vehicles Market Estimated Size (2023E) | US$ 6.9 billion |
| Projected Market Valuation (2033F) | US$ 11.4 billion |
| Value-based CAGR (2023 to 2033) | 5.1% |
| Collective Value Share: Top 5 Countries (2023E) | 48.9% |
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Commercial vehicle demand has been unpredictable over the past five years in Middle East/North Africa. It is attributed to numerous events such as the pandemic crisis and the Russia-Ukraine war.
Between 2018 and 2022, the market witnessed a CAGR of 4.6%. Commercial vehicle manufacturers should benefit from capital expenditure diversification across numerous sectors. These include construction, oil & gas, logistics, tourism, and public infrastructure.
Commercial trucking solutions in the MENA region would grow significantly over the next ten years. It would present substantial prospects for manufacturing businesses. Prominent industry participants are working to create sturdy, long-lasting commercial vehicles.
They are also aiming to develop chassis that can be loaded effectively. Usage of newly created materials such as steel and aluminum alloys would surge.
These materials make the chassis and car bodies robust and durable under harsh load situations. Launch of these materials is possible with material science advancements in manufacturing industries.
Construction and urbanization would contribute to high commercial vehicles sales. Rising residential and commercial construction projects in countries such as Egypt would augment demand.
Domestic governments in MENA countries are looking forward to invest in the construction of massive complexes. They are taking efforts to diversify its economy away from oil.
The Dubai Expo 2020 and associated projects are a few examples of the same. Other constructions such as Kuwait Bridge and Metro in Riyadh, would push commercial vehicles demand. The upcoming Liwa Plastic Industries Complex in Oman would also augment demand.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 3.30% |
| Jul to Dec (H2), 2021 (A) | 3.70% |
| Jan to Jun (H1),2022 Projected (P) | 3.50% |
| Jan to Jun (H1),2022 Outlook (O) | 4.70% |
| Jul to Dec (H2), 2022 Outlook (O) | 5.50% |
| Jul to Dec (H2), 2022 Projected (P) | 3.90% |
| Jan to Jun (H1), 2023 Projected (P) | 3.80% |
| BPS Change : H1,2022 (O) to H1,2022 (P) | (+) 120 |
| BPS Change : H1,2022 (O) to H1,2021 (A) | (+) 140 ↑ |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | (+) 160 ↑ |
| BPS Change: H2, 2022 (O) to H2, 2021 (A) | (+) 180 |
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Strict Government Norms to Control Emissions May Hamper Commercial Vehicle Sales
| Country | Saudi Arabia |
|---|---|
| Market Share (2023) | 14.0% |
| Market Share (2033) | 15.0% |
| BPS Analysis | 100 |
| Country | United Arab Emirates |
|---|---|
| Market Share (2023) | 5.2% |
| Market Share (2033) | 5.3% |
| BPS Analysis | 10 |
| Country | Türkiye |
|---|---|
| Market Share (2023) | 28.4% |
| Market Share (2033) | 27.7% |
| BPS Analysis | -70 |
| Country | Egypt |
|---|---|
| Market Share (2023) | 8.2% |
| Market Share (2033) | 8.1% |
| BPS Analysis | -10 |
| Country | Morocco |
|---|---|
| Market Share (2023) | 2.2% |
| Market Share (2033) | 2.1% |
| BPS Analysis | -10 |
Value of Commercial Vehicles to Surge in Saudi Arabia as Urban Infrastructures Develop
The Kingdom of Saudi Arabia has planned several urban infrastructures. It includes logistics and commercial infrastructure. Rising construction activities of trade and logistics are boosting the commercial vehicle industry across the country.
There are several ongoing mega projects and urban infrastructure development plans in the country. These have attracted huge capital investments in the country.
Rising preference for online purchases will augment demand from the e-commerce industry. It would create significant opportunities for the logistics and warehouse sector.
The Kingdom of Saudi Arabia has invested capital expenditures worth US$ 500 billion for a high-tech city project. Similar investments in urban infrastructure development would create rising demand for material handling equipment. It would include commercial vehicles for material transportation.
Investments in Material Transportation Equipment in Türkiye to Push Commercial Vehicle Market Value
Türkiye has gained prominence, thanks to its advantageous geopolitical location. Excellent connectivity, business climate, and regulatory framework have created a favorable atmosphere.
The country also has trade agreements and a robust workforce. These have caught the attention of overseas manufacturers. They are looking at Türkiye as a potential nearshore location.
Development of e-commerce will drive investments in regional warehouses and transfer centers. The country's demand for commercial vehicles would accelerate in the next ten years. Rising exports, launch of e-commerce, and the current nearshoring trend would propel sales.
Several public transport infrastructure development projects are ongoing across the country. They include huge public and private investments.
For instance, Türkiye is investing about US$ 190 billion in rail, road, maritime, and air transport & communication infrastructure. Such infrastructure development plans will create new opportunities for material transportation equipment in the country.
New Transportation Projects to Demand Small Commercial Vehicles in the United Arab Emirates
Construction sector in the United Arab Emirates is expanding at a rapid pace. It is attributed to the country’s tremendous wealth, sizable market, and long-term development objectives.
There is a sizable pipeline of projects for the United Arab Emirates. These include those for the production of oil & gas. Companies are investing in new projects associated with real estate, utilities, and industrial development.
There will be several new building and transportation projects in the pipeline by 2033. Most of these projects are located in the United Arab Emirates.
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Commercial Truck Market Share to Expand in Middle East/North Africa by 2033
Investments in mining and construction industries would propel over the forecast period. Population growth and economic diversification would fuel need for infrastructure investment. Gradually stabilizing oil prices will further facilitate the awarding of contracts.
Increasing mining operations and construction activities would surge demand for material- carrying equipment, including commercial trucks. Commercial trucks are hence estimated to hold about 70% to 75% of share by 2023.
Heavy-duty Commercial Vehicle Market in Middle East/North Africa to Flourish by 2033
Heavy-duty vehicles would hold a 47% value share in Middle East/North Africa (MENA) commercial vehicles market. Multifunctional characteristics of these vehicles would augment sales.
Easy mounting and demounting of attachment is a significant advantage for this type of vehicle. Various benefits would hence surge demand for heavy duty commercial vehicles.
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.
They are increasing investments in public transportation activities. Manufacturing companies are also focusing on new product launches and acquisition strategies.
For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | US$ 6.9 billion |
| Projected Market Valuation (2033) | US$ 11.4 billion |
| Value-based CAGR (2023 to 2033) | 5.1% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (US$ billion) |
| Segments Covered | Product Type, Class Type, Country |
| Regions Covered | Middle East; Northern Africa |
| Key Countries Covered | United Arab Emirates, Türkiye, Saudi Arabia, Algeria, Egypt, Morocco |
| Key Companies Profiled | 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 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
The market is valued at US$ 6.9 billion in 2023.
Increasing investments in logistics and construction activities drive the market.
Demand for heavy-duty commercial vehicle market flourishes by 2033.
Unchecked chemical emissions from diesel engines degrade the environment.
Investments in transportation equipment in Türkiye boost the commercial vehicle market.
1. Executive Summary | Middle East/North Africa (MENA) Commercial Vehicles Market
1.1. MENA Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Units) Analysis, 2018 to 2022
5.2. Current and Future Market Volume (Units) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Market - Pricing Analysis
6.1. Regional Pricing Analysis By Product Type
6.2. MENA Average Pricing Analysis Benchmark
7. Market Demand (in Value or Size in US$ billion) Analysis 2018 to 2022 and Forecast, 2023 to 2033
7.1. Historical Market Value (US$ billion) Analysis, 2018 to 2022
7.2. Current and Future Market Value (US$ billion) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. MENA GDP Growth Outlook
8.1.2. MENA Automotive Industry Outlook
8.1.3. MENA Urbanization Growth Outlook
8.1.4. MENA Population Growth Outlook
8.1.5. Other Macro-Economic Factors
8.2. Forecast Factors - Relevance & Impact
8.2.1. Top Companies Historical Growth
8.2.2. New Product Type launches
8.2.3. Key Regulations
8.2.4. Other Forecast Factors.
8.3. Value Chain
8.3.1. List of Manufacturers
8.3.2. List of Physical Distributors
8.3.3. Trade Margins/Profit Margins
8.4. COVID-19 Crisis – Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ billion) and Volume Analysis By Product Type, 2018 to 2022
9.3. Current and Future Market Size (US$ billion) and Volume Analysis and Forecast By Product Type, 2023 to 2033
9.3.1. Trucks
9.3.2. Buses
9.3.3. Vans
9.3.4. Trailers
9.4. Market Attractiveness Analysis By Product Type
10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Class Type
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ billion) and Volume Analysis By Class Type, 2018 to 2022
10.3. Current and Future Market Size (US$ billion) and Volume Analysis and Forecast By Class Type, 2023 to 2033
10.3.1. Light Duty
10.3.2. Medium Duty
10.3.3. Heavy Duty
10.4. Market Attractiveness Analysis By Class Type
11. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
11.1. Introduction
11.2. Historical Market Size (US$ billion) and Volume Analysis by Region, 2018 to 2022
11.3. Current Market Size (US$ billion) and Volume Analysis and Forecast by Region, 2023 to 2033
11.3.1. Middle East
11.3.2. Northern Africa
11.4. Market Attractiveness Analysis by Region
12. Middle East Market Analysis 2018 to 2022 and Forecast 2023 to 2033
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Size (US$ billion) and Volume Trend Analysis by Market Taxonomy, 2018 to 2022
12.4. Market Size (US$ billion) and Volume Forecast by Market Taxonomy, 2023 to 2033
12.4.1. By Country
12.4.1.1. Kingdom of Saudi Arabia
12.4.1.2. United Arab Emirates
12.4.1.3. Türkiye
12.4.1.4. Rest of the Middle East
12.4.2. By Product Type
12.4.3. By Class Type
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Product Type
12.5.3. By Class Type
13. Northern Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ billion) and Volume Trend Analysis by Market Taxonomy, 2018 to 2022
13.4. Market Size (US$ billion) and Volume Forecast by Market Taxonomy, 2023 to 2033
13.4.1. By Country
13.4.1.1. Algeria
13.4.1.2. Egypt
13.4.1.3. Morocco
13.4.1.4. Rest of Northern Africa
13.4.2. By Product Type
13.4.3. By Class Type
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Product Type
13.5.3. By Class Type
14. Country Wise Market Analysis
14.1. Introduction
14.1.1. Market Value Proportion Analysis, By Key Countries
14.1.2. Middle East/North Africa (MENA) Vs. Country Growth Comparison
14.2. Kingdom of Saudi Arabia Commercial Vehicles Market Analysis
14.2.1. By Product Type
14.2.2. By Class Type
14.3. Türkiye Commercial Vehicles Market Analysis
14.3.1. By Product Type
14.3.2. By Class Type
14.4. United Arab Emirates Commercial Vehicles Market Analysis
14.4.1. By Product Type
14.4.2. By Class Type
14.5. Algeria Commercial Vehicles Market Analysis
14.5.1. By Product Type
14.5.2. By Class Type
14.6. Egypt Commercial Vehicles Market Analysis
14.6.1. By Product Type
14.6.2. By Class Type
14.7. Morocco Commercial Vehicles Market Analysis
14.7.1. By Product Type
14.7.2. By Class Type
15. Market Structure Analysis
15.1. Market Analysis by Tier of Companies (Commercial Vehicles)
15.2. Market Share Analysis of Top Players
15.3. Market Presence Analysis
16. Competition Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Competition Deep Dive
16.3.1. Daimler AG
16.3.1.1. Overview
16.3.1.2. Product Portfolio
16.3.1.3. Profitability by Market Segments (Product/Channel/Region)
16.3.1.4. Sales Footprint
16.3.1.5. Strategy Overview
16.3.2. Volvo AB
16.3.2.1. Overview
16.3.2.2. Product Portfolio
16.3.2.3. Profitability by Market Segments (Product/Channel/Region)
16.3.2.4. Sales Footprint
16.3.2.5. Strategy Overview
16.3.3. Scania AB
16.3.3.1. Overview
16.3.3.2. Product Portfolio
16.3.3.3. Profitability by Market Segments (Product/Channel/Region)
16.3.3.4. Sales Footprint
16.3.3.5. Strategy Overview
16.3.4. Paccar Inc.
16.3.4.1. Overview
16.3.4.2. Product Portfolio
16.3.4.3. Profitability by Market Segments (Product/Channel/Region)
16.3.4.4. Sales Footprint
16.3.4.5. Strategy Overview
16.3.5. Navistar International Corp.
16.3.5.1. Overview
16.3.5.2. Product Portfolio
16.3.5.3. Profitability by Market Segments (Product/Channel/Region)
16.3.5.4. Sales Footprint
16.3.5.5. Strategy Overview
16.3.6. Hino Motors Ltd.
16.3.6.1. Overview
16.3.6.2. Product Portfolio
16.3.6.3. Profitability by Market Segments (Product/Channel/Region)
16.3.6.4. Sales Footprint
16.3.6.5. Strategy Overview
16.3.7. Isuzu Motors Ltd.
16.3.7.1. Overview
16.3.7.2. Product Portfolio
16.3.7.3. Profitability by Market Segments (Product/Channel/Region)
16.3.7.4. Sales Footprint
16.3.7.5. Strategy Overview
16.3.8. Dongfeng Motor Corporation
16.3.8.1. Overview
16.3.8.2. Product Portfolio
16.3.8.3. Profitability by Market Segments (Product/Channel/Region)
16.3.8.4. Sales Footprint
16.3.8.5. Strategy Overview
16.3.9. FAW Group Corporation
16.3.9.1. Overview
16.3.9.2. Product Portfolio
16.3.9.3. Profitability by Market Segments (Product/Channel/Region)
16.3.9.4. Sales Footprint
16.3.9.5. Strategy Overview
16.3.10. Toyota Motor Corporation
16.3.10.1. Overview
16.3.10.2. Product Portfolio
16.3.10.3. Profitability by Market Segments (Product/Channel/Region)
16.3.10.4. Sales Footprint
16.3.10.5. Strategy Overview
16.3.11. Ford Motor Company
16.3.11.1. Overview
16.3.11.2. Product Portfolio
16.3.11.3. Profitability by Market Segments (Product/Channel/Region)
16.3.11.4. Sales Footprint
16.3.11.5. Strategy Overview
16.3.12. Nissan Motor Company Limited
16.3.12.1. Overview
16.3.12.2. Product Portfolio
16.3.12.3. Profitability by Market Segments (Product/Channel/Region)
16.3.12.4. Sales Footprint
16.3.12.5. Strategy Overview
16.3.13. General Motor Company
16.3.13.1. Overview
16.3.13.2. Product Portfolio
16.3.13.3. Profitability by Market Segments (Product/Channel/Region)
16.3.13.4. Sales Footprint
16.3.13.5. Strategy Overview
16.3.14. Volkswagen AG
16.3.14.1. Overview
16.3.14.2. Product Portfolio
16.3.14.3. Profitability by Market Segments (Product/Channel/Region)
16.3.14.4. Sales Footprint
16.3.14.5. Strategy Overview
17. Assumptions and Acronyms Used
18. Research Methodology
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Middle East/North Africa (MENA) Commercial Vehicles Market
