Government Efforts and Initiatives to Develop Infrastructure and Boost Tourism Fuel Growth Strategies
The GCC bus industry is expected to grow at a compound annual growth (CAGR) of 3.6% by 2025. Industry sales have been severely impacted by the economic downturn, resulting from decline in oil prices due to the OPEC Agreement. Moreover, the COVID-19 pandemic is having a major effect on GCC bus industry sales, which are estimated to decline by 19% in 2020. An expected rollback of GCC government infrastructure development projects in Q2/ Q3 of 2021 and government initiatives to diversify economies and investments in non-oil reforms will help the GCC bus industry gain momentum in the next 3 to 4 years.
Key trends expected to fuel demand for new buses include the following: increasing urbanization; government focus on boosting public transportation infrastructure in alignment with National Vision 2030 to make the GCC a world-class tourist destination; implementation of emission regulations; deployment of integrated and multi-modal transportation practices; implementation of On-Demand Responsive Transit systems; increasing adoption of autonomous, driverless shuttles in public transportation fleets by respective transit authorities; increasing penetration of digitalization; and increasing adoption of telematics and connected vehicles.
This study covers the medium- and heavy-duty bus market in the GCC nations (Kingdom of Saudi Arabia, Kuwait, United Arab Emirates, Oman, Qatar, and Bahrain), including application-specific bus segment (school, staff and labor, transit, and coach) sales volumes, both historic and forecasts up to 2025.
The 2 Core Objectives of this Study:
- Provide a strategic overview of the GCC bus industry, including key and emerging megatrends and opportunities shaping its future
- Present market size and forecasts of the medium- and heavy-duty bus industry
Key Issues Addressed
- What is the current state of the bus industry in select GCC countries?
- How large will the bus industry get in select GCC countries by 2025?
- Who are the major market participants and what is their market share?
- What is driving the bus industry across GCC?
- What is the impact of regulatory and macro-economic trends on bus industry growth?
