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Commercial Vehicle Market in the Gulf Cooperation Council, 2018

Automotive Commercial Vehicle Market in the Gulf Cooperation Council, 2018

Economic Recovery and Investment in Infrastructure will Drive Market Growth

INDUSTRY
Automotive

RELEASE DATE
14-Mar-2019
REGION
South Asia, Middle East & North Africa
DELIVERABLE TYPE
Market Research

RESEARCH CODE
PA49-01-00-00-00
SKU
AU01808-SA-MR_22928
Yes
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Commercial Vehicle Market in the Gulf Cooperation Council, 2018
Published on: 14-Mar-2019 | SKU: AU01808-SA-MR_22928

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Description

The GCC automotive market was severely affected by the economic downturn arising from decline in oil prices. The region is however aiming to diversify its economy to decrease its reliance on the oil sector. This will prevent the oil price from having such a significant impact on its economy.

Commercial vehicle (CV) sales have dropped year after year, but are expected to recover as the oil price strengthens and the region invests in infrastructure development. Mega projects, which include World Expo 2020 and the FIFA World Cup, will create demand for CVs as well as boost tourism across the region. Public transport systems in the GCC are largely underdeveloped. The low demand for public transport stems partly from low-cost petrol prices. Regulatory changes, such as the implementation of value-added tax (VAT) across the region, and more stringent emission standards are also set to affect vehicle sales and imports of vehicles.

CV demand is largely met through imports, and supplemented through local assembly and manufacturing. Locally manufactured vehicles are exported to the greater Middle East region and to countries in Africa. Imported vehicles are also re-exported. GCC’s geographic location provides a strategic advantage to facilitate exports. Japanese and European brands dominate the market across vehicle segments. This study will cover the light, medium and heavy commercial vehicle market in select GCC countries. The base year of this study is 2018 and the forecast period is until 2022. The geographic scope of this study will cover Saudi Arabia, Oman, United Arab Emirates, and Kuwait only.

Key Features

The core objectives of this study are the following:

  • Provide a strategic overview of the GCC Commercial Vehicle Market, including key trends and opportunities.
  • Present market size and forecasts of the commercial vehicle market, details of the existing scenario for the industry, and a plan of action.
  • Make detailed analysis of the competitive factors and list the market shares of key manufacturers.

Key Issues Addressed

  • What is the current CV market in select GCC countries?
  • What will be the size of the CV market in select GCC countries in 2022?
  • Who are the major market participants and what is their market share?
  • What is driving the CV market across GCC?
  • What is the impact of regulatory and macro-economic trends on market growth?

 

 

 

 

Table of Contents

Key Findings

Current Status and Future Outlook

Summary—Kingdom of Saudi Arabia

Summary—United Arab Emirates

Summary—Kuwait

Summary—Oman

Research Scope

Aim and Objectives

Research Methodology

Vehicle Segmentation

Key Questions this Study will Answer

Market Drivers

Market Drivers Explained

Market Restraints

Market Restraints Explained

Sales Forecast by Region

Sales Forecast by CV Type and Region

Vehicle in Operation (VIO) Forecast by Region

Percent VIO Forecast by CV Type and Region

GCC—Economic Overview

GCC—Economic Overview (continued)

GCC—Overview of Key Macroeconomic Factors, 2018

GCC—Economic Outlook Assumptions

GCC—Automotive Sector Overview

GCC—Trends Affecting Automotive Sector

GCC—Trends Affecting Automotive Sector (continued)

GCC—Trends Affecting Automotive Sector (continued)

GCC—Trends Affecting Automotive Sector (continued)

GCC—Vehicle Manufacturing Overview

GCC—Vehicle Manufacturing Overview (continued)

GCC—Vehicle Manufacturing Overview (continued)

KSA—Economic Overview

KSA—Economic Overview (continued)

KSA—Automotive Sector

KSA—Fuel and Vehicle Regulations

KSA—OEM Developments

KSA—CV Sales Forecast

KSA—Sales Forecast by CV Type

KSA—Market Share of New Vehicle Sales by OEM

KSA—Market Share by Country of Origin: New Vehicle Sales

KSA—VIO Forecast

UAE—Overview

UAE—Overview (continued)

UAE—Automotive Sector

UAE—Automotive Sector (continued)

UAE—Automotive Sector (continued)

UAE—Fuel and Vehicle Regulations

UAE—OEM Developments

UAE—CV Sales Forecast

UAE—Sales Forecast by CV Type

UAE—Market Share of New Vehicle Sales by OEM

UAE—Market Share by Country of Origin: New Vehicle Sales

UAE—VIO Forecast

Kuwait—Overview

Kuwait—Overview (continued)

Kuwait—Automotive Sector

Kuwait—Fuel and Vehicle Regulations

Kuwait—OEM Developments

Kuwait—New Vehicle Sales Forecast

Kuwait—Sales Forecast by CV Type

Kuwait—Market Share of New Vehicle Sales by OEM

Kuwait—Market Share by Country of Origin: New Vehicle Sales

Kuwait—VIO Forecast

Oman—Overview

Oman—Overview (continued)

Oman—Automotive Sector

Oman—OEM Developments

Oman—Sales Forecast

Oman—Sales Forecast by CV Type

Oman—Market Share of New Vehicle Sales by OEM

Oman—Market Share by Country of Origin: New Vehicle Sales

Oman—VIO Forecast

Growth Opportunity 1—Local Vehicle Manufacturing

Strategic Imperatives

The Last Word—3 Big Predictions

Legal Disclaimer

Abbreviations and Acronyms Used

Market Engineering Methodology

Company Profiles—Saudi Arabia

Company Profiles—United Arab Emirates

Company Profiles—United Arab Emirates (continued)

Company Profiles—United Arab Emirates (continued)

Company Profiles—Kuwait

Company Profiles—Oman

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

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The GCC automotive market was severely affected by the economic downturn arising from decline in oil prices. The region is however aiming to diversify its economy to decrease its reliance on the oil sector. This will prevent the oil price from having such a significant impact on its economy. Commercial vehicle (CV) sales have dropped year after year, but are expected to recover as the oil price strengthens and the region invests in infrastructure development. Mega projects, which include World Expo 2020 and the FIFA World Cup, will create demand for CVs as well as boost tourism across the region. Public transport systems in the GCC are largely underdeveloped. The low demand for public transport stems partly from low-cost petrol prices. Regulatory changes, such as the implementation of value-added tax (VAT) across the region, and more stringent emission standards are also set to affect vehicle sales and imports of vehicles. CV demand is largely met through imports, and supplemented through local assembly and manufacturing. Locally manufactured vehicles are exported to the greater Middle East region and to countries in Africa. Imported vehicles are also re-exported. GCC’s geographic location provides a strategic advantage to facilitate exports. Japanese and European brands dominate the market across vehicle segments. This study will cover the light, medium and heavy commercial vehicle market in select GCC countries. The base year of this study is 2018 and the forecast period is until 2022. The geographic scope of this study will cover Saudi Arabia, Oman, United Arab Emirates, and Kuwait only.--BEGIN PROMO--

Key Features

The core objectives of this study are the following:

  • Provide a strategic overview of the GCC Commercial Vehicle Market, including key trends and opportunities.
  • Present market size and forecasts of the commercial vehicle market, details of the existing scenario for the industry, and a plan of action.
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Zaheera Ahmed
Industries Automotive
WIP Number PA49-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9B01-A6,9963-A6,9AF6-A6