Another report distributed by Future Market Insights named ‘Commercial Vehicles (Trucks) Market: Middle East and North Africa (MENA) Industry Analysis 2012 – 2021 and Opportunity Assessment 2022-2027′ concentrates on the presentation of MENA Commercial Vehicles (Trucks) market more than a long term evaluation period from 2012 to 2027.
The report presents the worth and volume gauges of the MENA Commercial Vehicles (Trucks) market and gives key experiences into the variables driving business sector development as well as the elements limiting the market development.
The evaluations highlight an income development from almost US$ 5,250 Mn in 2021 to almost US$ 8,500 Mn by 2027 end, bringing about a CAGR of 5.0% during the time of appraisal. As far as volume, the MENA Commercial Vehicles (Trucks) market was fixed at 152,191 units in the year 2021 and is ready to arrive at a figure of 212,232 units in 2027, and show a CAGR of 3.4% in the gauge period.
Quick turn of events and development of oil and gas industry in the remainder of Middle East locale to support market income development
Business vehicles are ordinarily utilized as a mechanism of transport for various kinds of end use ventures and they are helping in undertakings like dumping, stacking and transportation of merchandise. The development business is showing a quick development because of the immense number of undertakings ready to go in every nation of the Middle East and this likewise has association with the plans of the nations in the Middle Eastern district to differentiate their economies.
These improvements are additionally connected with the huge scope worldwide occasions that will be held in this area, for example, World Expo 2020 to be held in Dubai and the FIFA World Cup 2022 to be held in Qatar.
MENA Commercial Vehicles (Trucks) Market: Segmentation and Forecast
The substantial portion was assessed to be esteemed at almost US$ 3,200 Mn in 2021 and is probably going to arrive at a valuation of almost US$ 5,300 Mn in 2027 and in the process display a CAGR of 5.1%.
The medium obligation section was assessed to be esteemed at almost US$ 1,850 Mn in 2021 and is expected to arrive at a valuation of almost US$ 3,000 Mn in 2027 and display a CAGR of 4.8%.
Daimler AG, AB Volvo, Scania AB, Paccar Inc., MAN SE, 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 and Volkswagen AG.