DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Saudi Arabia Commercial Vehicles Market Forecast & Opportunities, 2021" report to their offering.
The market of commercial vehicles in Saudi Arabia is projected to grow at a CAGR of over 9% during 2016 -2021.
Saudi Arabia possesses 18% of the world's proven petroleum reserves and ranks as the largest exporter of petroleum. The Oil & Gas sector accounts for about 50% of gross domestic product, and about 85% of export earnings. Global oil crises repressed the growth of the country's construction and infrastructure sectors, which, in turn, impacted the demand for commercial vehicles, as they are majorly deployed in these sectors. However, the country's government unveiled the Kingdom's Vision 2030, an ambitious plan to steer the economy away from its oil dependence.
The Government of Saudi Arabia plans to increase its share of non-oil exports in non-oil GDP from 16% to 50% by 2030. Moreover, the government plans to become one of the largest construction and infrastructure markets in the world. This move is expected to induce a positive impact on the commercial vehicles market in the country over the next five years.
Moreover, under the Saudi Vision 2030, the Government of Saudi Arabia has made long term plans for the infrastructural development of roads, metro, rail, ports, etc. These developments are anticipated to positively influence the Saudi Arabia commercial vehicles market over the next five years.
- Ashok Leyland
- Hino Motors Ltd.
- Hyundai Motor Company
- Isuzu Motors Saudi Arabia Co
- MAN Truck and Bus Middle East
- Mercedes-Benz KSA Commercial Vehicles
- Mitsubishi Fuso Truck and Bus Corporation
- Tata Motors Limited
- Toyota Motors Corporation
Volvo Trucks Corporation and Volvo Bus
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. Saudi Arabia Commercial Vehicles Market Outlook
5. Saudi Arabia Light Commercial Vehicles (LCVs) Market Outlook
6. Saudi Arabia Bus Market Outlook
7. Saudi Arabia Medium Commercial Vehicles (HCVs) Market Outlook
8. Saudi Arabia Heavy Commercial Vehicles (HCVs) Market Outlook
9. Import-Export Analysis
10. Market Dynamics
11. Market Trends & Developments
12. Value Chain Analysis
13. Policy & Regulatory Landscape
14. Saudi Arabia Economic Profile
15. Competitive Landscape
16. Strategic Recommendations
For more information about this report visit http://www.researchandmarkets.com/research/j653h7/saudi_arabia