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FEATURED COMPANIES
- Al-Futtaim Motors
- Ford Motor Company
- Isuzu Motors Limited
- Mercedes Benz AG
- Nissan Motors Co. LTD
- Tata Motors Ltd.
Free Webex Call
Speak directly to the analyst to clarify any post sales queries you may have.
10% Free customizationThis report comes with 10% free customization, enabling you to add data that meets your specific business needs.
The GCC Light Commercial Vehicle Market stood at USD4,796.69 million in 2020, and it is anticipated to grow at a CAGR of 7.20% in the forecast period, 2022-2026 to reach USD7,676.72 million by 2026. The high demand from the end-user industries including tourism, infrastructure, transport & logistics are driving the growth of the GCC Light Commercial Vehicle Market. GCC states are making investments for the development of the tourism and hospitality sector including the airport expansion to handle the capacity of the projected visitor inflow which in turn is expected to fuel the GCC Light Commercial Vehicle Market growth for the next five years.
Relaxation of visa rules by the government in Qatar and UAE and development of Bahrain International Airport is expected to attract a large number of tourists into the region, thereby is expected to boost the economic status of the GCC region. The rise in the ongoing and upcoming mega projects such as Saudi Vision 2030, the red sea project in Saudi Arabia, the development of smart cities, and rail infrastructure require commercial vehicles for the transportation of goods and materials from one place to another. The economy is dependent on the import of goods and materials and with the growing population, the consumption pattern is expected to increase, which is expected to accelerate the GCC Light Commercial Vehicle Market’s growth.
Furthermore, rapid growth in manufacturing, retail, logistics and other sectors owing to favorable government policies has been a game changer for light commercial vehicles’ market in the GCC region. Over the past few years, demand for LCVs has grown significantly, backed by growing need for transportation of raw materials as well as finished goods to end-users. Moreover, fleet owners have started operating for long haulage transportation services, which is further anticipated to fuel the demand for light commercial vehicles across the region. Such vehicles are also being used as moving shops of apparels, vegetables & fruits, etc. Apart from this, nowadays ‘food trucks’ utilizing light vans are also gaining popularity which is increasing the penetration of the light commercial vehicles in the GCC region.
The GCC Light Commercial Vehicle Market is segmented into vehicle type, fuel type, end-user, country, and company. Based on the vehicle type, the market can be bifurcated into the pickup truck, van and light buses. The pickup truck segment is expected to witness significant growth in the forecast period, 2022-2026. The rise in the disposable income of consumers is increasing the expenditure capacity of consumers to buy luxury pickup trucks. The growth in the construction activities in the GCC region and the presence of supportive government policies to boost the construction activity is expected to fuel the segment growth.
The major players operating in the GCC Light Commercial Vehicle Market are Ford Motor Company Middle East, Al-Futtaim Motors, ISUZU MOTORS LIMITED, Nissan Motors Co. LTD, Volkswagen AG , Hyundai Motor Company, Ford Motor Company, Mitsubishi Motors Corporation, Toyota Motor Corporation, Tata Motors Ltd., Mercedes Benz AG, Hino Motors, IVECO S.p.A, among others. Major companies are developing advanced technologies and are launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the region. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers who could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels and presence of all major players across the region.
The publisher calculated the market size of the GCC Light Commercial Vehicle Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
In this report, the GCC Light Commercial Vehicle Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Relaxation of visa rules by the government in Qatar and UAE and development of Bahrain International Airport is expected to attract a large number of tourists into the region, thereby is expected to boost the economic status of the GCC region. The rise in the ongoing and upcoming mega projects such as Saudi Vision 2030, the red sea project in Saudi Arabia, the development of smart cities, and rail infrastructure require commercial vehicles for the transportation of goods and materials from one place to another. The economy is dependent on the import of goods and materials and with the growing population, the consumption pattern is expected to increase, which is expected to accelerate the GCC Light Commercial Vehicle Market’s growth.
Furthermore, rapid growth in manufacturing, retail, logistics and other sectors owing to favorable government policies has been a game changer for light commercial vehicles’ market in the GCC region. Over the past few years, demand for LCVs has grown significantly, backed by growing need for transportation of raw materials as well as finished goods to end-users. Moreover, fleet owners have started operating for long haulage transportation services, which is further anticipated to fuel the demand for light commercial vehicles across the region. Such vehicles are also being used as moving shops of apparels, vegetables & fruits, etc. Apart from this, nowadays ‘food trucks’ utilizing light vans are also gaining popularity which is increasing the penetration of the light commercial vehicles in the GCC region.
The GCC Light Commercial Vehicle Market is segmented into vehicle type, fuel type, end-user, country, and company. Based on the vehicle type, the market can be bifurcated into the pickup truck, van and light buses. The pickup truck segment is expected to witness significant growth in the forecast period, 2022-2026. The rise in the disposable income of consumers is increasing the expenditure capacity of consumers to buy luxury pickup trucks. The growth in the construction activities in the GCC region and the presence of supportive government policies to boost the construction activity is expected to fuel the segment growth.
The major players operating in the GCC Light Commercial Vehicle Market are Ford Motor Company Middle East, Al-Futtaim Motors, ISUZU MOTORS LIMITED, Nissan Motors Co. LTD, Volkswagen AG , Hyundai Motor Company, Ford Motor Company, Mitsubishi Motors Corporation, Toyota Motor Corporation, Tata Motors Ltd., Mercedes Benz AG, Hino Motors, IVECO S.p.A, among others. Major companies are developing advanced technologies and are launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth of the market size of the GCC Light Commercial Vehicle Market from 2016 to 2020.
- To estimate and forecast the market size of the GCC Light Commercial Vehicle Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the GCC Light Commercial Vehicle Market et based on vehicle type, fuel type, end-user, country, and company.
- To identify dominant region or segment in the GCC Light Commercial Vehicle Market.
- To identify drivers and challenges for the GCC Light Commercial Vehicle Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the GCC Light Commercial Vehicle Market.
- To identify and analyze the profile of leading players operating in the GCC Light Commercial Vehicle Market.
- To identify key sustainable strategies adopted by the market players in the GCC Light Commercial Vehicle Market.
The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the region. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers who could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels and presence of all major players across the region.
The publisher calculated the market size of the GCC Light Commercial Vehicle Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Target Audience:
- Light commercial vehicle manufacturing companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to Light Commercial Vehicle market.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
Report Scope:
In this report, the GCC Light Commercial Vehicle Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
GCC Light Commercial Vehicle Market Share, By Vehicle Type:
- Pickup Truck
- Van
- Light Bus
GCC Light Commercial Vehicle Market Share, By Fuel Type:
- Petrol
- Diesel
- Alternate
GCC Light Commercial Vehicle Market Share, By End-User:
- Individual
- Fleet Owner
GCC Light Commercial Vehicle Market Share, By Country:
- Saudi Arabia
- UAE
- Oman
- Kuwait
- Qatar
- Bahrain
Competitive Landscape:
Company Profiles: Detailed analysis of the major companies present in the GCC Light Commercial Vehicle Market.Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Al-Futtaim Motors
- Ford Motor Company
- Isuzu Motors Limited
- Mercedes Benz AG
- Nissan Motors Co. LTD
- Tata Motors Ltd.
1. Product Overview2. Research Methodology3. Impact of COVID-19 on GCC Light Commercial Vehicle Market4. Executive Summary5. Voice of Customer14. Market Trends and Developments16. Strategic Recommendations17. About the Publisher & Disclaimer
6. GCC Light Commercial Vehicle Market Outlook, 2016-2026F
7. Saudi Arabia Light Commercial Vehicle Market Outlook, 2016-2026F
8. UAE Light Commercial Vehicle Market Outlook, 2016-2026F
9. Oman Light Commercial Vehicle Market Outlook, 2016-2026F
10. Kuwait Light Commercial Vehicle Market Outlook, 2016-2026F
11. Qatar Light Commercial Vehicle Market Outlook, 2016-2026F
12. Bahrain Light Commercial Vehicle Market Outlook, 2016-2026F
13. Market Dynamics
15. Competitive Landscape
List of Figures
Note: Product cover images may vary from those shown
A selection of companies mentioned in this report includes:
- Ford Motor Company Middle East
- Al-Futtaim Motors
- Isuzu Motors Limited
- Nissan Motors Co. LTD
- Volkswagen AG
- Ford Motor Company
- Mitsubishi Motors Corporation
- Toyota Motor Corporation
- Tata Motors Ltd.
- Mercedes Benz AG
Note: Product cover images may vary from those shown
