According to Middle East/North Africa (MENA) commercial vehicle industry analysis, it would reach USD 6.9 billion in 2023. The market stood at USD 6.6 billion in 2022.In 2033, it would surpass USD 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 USD 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) | USD 6.9 billion |
| Projected Market Valuation (2033F) | USD 11.4 billion |
| Value-based CAGR (2023 to 2033) | 5.1% |
| Collective Value Share: Top 5 Countries (2023E) | 48.9% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
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 |
Principal Consultant
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 USD 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 USD 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.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
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) | USD 6.9 billion |
| Projected Market Valuation (2033) | USD 11.4 billion |
| Value-based CAGR (2023 to 2033) | 5.1% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD 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 USD 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 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Demand Analysis 2018 to 2022 and Forecast 2023 to 2033 6. Market - Pricing Analysis 7. Market Demand (in Value or Size in US$ billion) Analysis 2018 to 2022 and Forecast 2023 to 2033 8. Market Background 9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 9.1. Trucks 9.2. Buses 9.3. Vans 9.4. Trailers 10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Class Type 10.1. Light Duty 10.2. Medium Duty 10.3. Heavy Duty 11. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 11.1. Middle East 11.2. Northern Africa 12. Middle East Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Northern Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Country Wise Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Daimler AG 16.2. Volvo AB 16.3. Scania AB 16.4. Paccar Inc. 16.5. Navistar International Corp. 16.6. Hino Motors Ltd. 16.7. Isuzu Motors Ltd. 16.8. Dongfeng Motor Corporation 16.9. FAW Group Corporation 16.10. Toyota Motor Corporation 16.11. Ford Motor Company 16.12. Nissan Motor Company Limited 16.13. General Motor Company 16.14. Volkswagen AG 17. Assumptions and Acronyms Used 18. Research Methodology
Explore Automotive Insights
View Reports
Middle East/North Africa (MENA) Commercial Vehicles Market
