GCC Commercial Vehicle Market – Opportunities and Forecast, 2020-2027

1. GCC Commercial Vehicle Market

2. The primary objective of the market report by GMI Research is to help the users understand the market scenario in terms of its definition, segmentation, drivers, opportunities, market trends, and the challenges that the market is facing. This report focuses on the market, especially in the GCC countries such as the UAE, Saudi Arabia, Oman, Kuwait, and the rest of the GCC.

3. Key Drivers of the GCC Commercial Vehicle Market The significant factors responsible for the growth of the GCC Commercial Vehicle market include the increasing preference for connected commercial vehicles and the strong demand for commercial vehicles from logistics, infrastructure, tourism, and the public transport industry. The GCC region countries are largely focusing on diversifying its economy to decrease its dependence on the oil sector, which will help to reduce the oil price. The governments are heavily investing in numerous megaprojects, such as Dubai Expo 2020 and FIFA World Cup 2021 in Qatar, to expand the tourism in the region. This factor will further accelerate the growth of the GCC Commercial Vehicle market size.

4. The strong demand for commercial vehicles is mainly driven by the rising number of ongoing and upcoming infrastructure projects in the GCC countries, including the smart cities project, the red sea project in Saudi Arabia, and the development of rail infrastructure. All these projects require commercial vehicles to transport goods and material from one place to another, which will surge the growth of the GCC commercial vehicle market share in terms of revenue. Furthermore, the increasing population and rising per capita income are further propelling the market’s growth. On the other hand, the continuous expansion of the railway network in the GCC region and the high dependence on private cars for communicating, are certain factors that will hamper the growth of the market.

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