Saudi Arabia Commercial Vehicles Market By Vehicle Type (Light Commercial Vehicle, Medium Commercial Vehicle, Heavy Commercial Vehicle), By Propulsion (ICE Vehicle, Electric Vehicle), By Region, Competition, Forecast & Opportunities, 2018 – 2028
The Saudi Arabia Commercial Vehicle Market experiencing significant expansion as demand has increased in recent years.
Commercial vehicles are utilized for the transportation of passengers and commodities. One of the major forces behind a nation's economic progress is the automotive industry. Saudi Arabia is one of the richest nations in the world and the biggest Middle Eastern producer of automobile components. Nearly half of the vehicles sold in that region are from Saudi Arabia. The Saudi Arabian commercial vehicle market is primarily influenced by the expansion of the logistics sector and the number of ongoing infrastructure projects. Furthermore, it is expected that demand will continue to rise as economies recover from global pandemic and international trade activities increase, thereby driving market growth during the forecast period.
The economic collapse in 2020 caused numerous setbacks for the global automotive sector, and the Saudi Arabian automotive industry also suffered. During the first quarter of 2020, the nation's total exports were USD 57.61 billion (SAR 216.1 billion), down 21.9% from Q1 2019. Additionally, the manufacturing sector's gross domestic product (GDP) declined by 12% in 2020 as compared to the year 2019. Sales in the automotive sector fell as a result of slower economic growth. Furthermore, in the post pandemic year, the General Authority of Statistics in Saudi Arabia reported that 2.9% more vehicles were imported into the Kingdom in 2021 than in 2020. With the inclusion of electric commercial vehicles, the market is likely to grow during the forecast period.
Growing automotive industry
In 2020, Saudi Arabia had accounted for over 52% of the vehicles sold in the GCC and 35% in the MENA region. Although the total number of automobiles sold in Saudi Arabia dropped in 2020, it recovered swiftly in 2021 and 2022. Saudi Arabia's automotive sector is primarily supported by the import of automobiles by international OEMs from the United States, Japan, South Korea, Germany, China, and India. Japan, which is home to Toyota, is the largest importer of vehicles into Saudi Arabia, accounting for nearly 30% of all vehicle sales. Thus, the demand for commercial vehicle market is anticipated to fuel the market expansion.
Increasing Logistic Activities in The Region
The growth of the logistics and transportation industries is also greatly aided by digital transformation and e-commerce platforms. The demand for commercial vehicles rises as road transportation, industrialization, and tourism develops. Saudi Arabia is developing 19 logistics service areas worth nearly 29 billion Saudi riyals (USD 7.7 billion) in investment value, according to the country’s Transport and Logistics Services. According to a 2022 report from the Saudi financial news portal Argaam, as part of its expansion strategy for aviation, sea, and land transportation, Saudi Arabia is planning to establish 59 logistics zones. In consequence, the demand for commercial vehicles is anticipated to increase in the years to come due to the developments mentioned above.
Increase in Production Capacity
Saudi Arabia is a significant consumer of trucks and cars, all of which are majorly imported. This raises the vehicle's associated cost. Further, due to the pandemic, many nations suspended their import and export operations, which reduced Saudi Arabia's sales of commercial automobiles. Ultimately, the delay in numerous development projects caused Saudi Arabia’s commercial vehicle market growth to slow down. To close the gap between supply and demand, Saudi Arabia is planning to produce more than 300,000 vehicles between 2020 and 2030. The country's automotive eco-system is also expected to achieve at least 40% Local Gross Value Add (LGVA). Owing to the aforementioned factors, the Saudi Arabian commercial vehicle market is anticipated to register a a notable growth rate during the forecast period.
Market Segmentation
The Saudi Arabia commercial vehicle market is segmented on the basis of vehicle type, propulsion, and region. On the basis of vehicle type, the market is further segmented into light commercial vehicle, medium commercial vehicle, heavy commercial vehicle, and bus. Furthermore, light commercial vehicle market is segmented on the basis of vehicle segment (pickup truck & van, light duty truck), by application (logistics, transportation & tourism, construction), propulsion (ice vehicle, electric vehicle). Medium commercial vehicle market is segmented on the basis of vehicle segment (GVW 10-16 ton, GVW 16-20 ton), by application (construction, logistics and others), by propulsion (ICE vehicle, electric vehicle). Heavy commercial vehicle market is segmented by vehicle segment (GVW 20-30 Ton, GVW 30-40 Ton, GVW >40 Ton), by application (construction, logistics and others), and by propulsion (ICE vehicle, electric vehicle). Bus market is segmented on the basis vehicle segment (< 33 Seats, > 33 Seats), by application (staff transportation, school & university transportation, tourism/pilgrimage services), and propulsion (ICE vehicle, electric vehicle). On the basis of region, the market is divided into Northern & Central, Southern, Eastern, and Western.
Company Profiles
Toyota Motors Corporation, Isuzu Motors, Saudi Arabia Company Limited, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Limited, Ford Motor Company, Hyundai Motor Company, MAN Truck and Bus Middle East, Volvo Trucks Corporation, Volvo Bus Mercedes-Benz KSA Commercial Vehicles, Ashok Leyland, Tata Motors Limited are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.
Report Scope:
In this report, Saudi Arabia commercial vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Commercial Vehicle Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
Commercial vehicles are utilized for the transportation of passengers and commodities. One of the major forces behind a nation's economic progress is the automotive industry. Saudi Arabia is one of the richest nations in the world and the biggest Middle Eastern producer of automobile components. Nearly half of the vehicles sold in that region are from Saudi Arabia. The Saudi Arabian commercial vehicle market is primarily influenced by the expansion of the logistics sector and the number of ongoing infrastructure projects. Furthermore, it is expected that demand will continue to rise as economies recover from global pandemic and international trade activities increase, thereby driving market growth during the forecast period.
The economic collapse in 2020 caused numerous setbacks for the global automotive sector, and the Saudi Arabian automotive industry also suffered. During the first quarter of 2020, the nation's total exports were USD 57.61 billion (SAR 216.1 billion), down 21.9% from Q1 2019. Additionally, the manufacturing sector's gross domestic product (GDP) declined by 12% in 2020 as compared to the year 2019. Sales in the automotive sector fell as a result of slower economic growth. Furthermore, in the post pandemic year, the General Authority of Statistics in Saudi Arabia reported that 2.9% more vehicles were imported into the Kingdom in 2021 than in 2020. With the inclusion of electric commercial vehicles, the market is likely to grow during the forecast period.
Growing automotive industry
In 2020, Saudi Arabia had accounted for over 52% of the vehicles sold in the GCC and 35% in the MENA region. Although the total number of automobiles sold in Saudi Arabia dropped in 2020, it recovered swiftly in 2021 and 2022. Saudi Arabia's automotive sector is primarily supported by the import of automobiles by international OEMs from the United States, Japan, South Korea, Germany, China, and India. Japan, which is home to Toyota, is the largest importer of vehicles into Saudi Arabia, accounting for nearly 30% of all vehicle sales. Thus, the demand for commercial vehicle market is anticipated to fuel the market expansion.
Increasing Logistic Activities in The Region
The growth of the logistics and transportation industries is also greatly aided by digital transformation and e-commerce platforms. The demand for commercial vehicles rises as road transportation, industrialization, and tourism develops. Saudi Arabia is developing 19 logistics service areas worth nearly 29 billion Saudi riyals (USD 7.7 billion) in investment value, according to the country’s Transport and Logistics Services. According to a 2022 report from the Saudi financial news portal Argaam, as part of its expansion strategy for aviation, sea, and land transportation, Saudi Arabia is planning to establish 59 logistics zones. In consequence, the demand for commercial vehicles is anticipated to increase in the years to come due to the developments mentioned above.
Increase in Production Capacity
Saudi Arabia is a significant consumer of trucks and cars, all of which are majorly imported. This raises the vehicle's associated cost. Further, due to the pandemic, many nations suspended their import and export operations, which reduced Saudi Arabia's sales of commercial automobiles. Ultimately, the delay in numerous development projects caused Saudi Arabia’s commercial vehicle market growth to slow down. To close the gap between supply and demand, Saudi Arabia is planning to produce more than 300,000 vehicles between 2020 and 2030. The country's automotive eco-system is also expected to achieve at least 40% Local Gross Value Add (LGVA). Owing to the aforementioned factors, the Saudi Arabian commercial vehicle market is anticipated to register a a notable growth rate during the forecast period.
Market Segmentation
The Saudi Arabia commercial vehicle market is segmented on the basis of vehicle type, propulsion, and region. On the basis of vehicle type, the market is further segmented into light commercial vehicle, medium commercial vehicle, heavy commercial vehicle, and bus. Furthermore, light commercial vehicle market is segmented on the basis of vehicle segment (pickup truck & van, light duty truck), by application (logistics, transportation & tourism, construction), propulsion (ice vehicle, electric vehicle). Medium commercial vehicle market is segmented on the basis of vehicle segment (GVW 10-16 ton, GVW 16-20 ton), by application (construction, logistics and others), by propulsion (ICE vehicle, electric vehicle). Heavy commercial vehicle market is segmented by vehicle segment (GVW 20-30 Ton, GVW 30-40 Ton, GVW >40 Ton), by application (construction, logistics and others), and by propulsion (ICE vehicle, electric vehicle). Bus market is segmented on the basis vehicle segment (< 33 Seats, > 33 Seats), by application (staff transportation, school & university transportation, tourism/pilgrimage services), and propulsion (ICE vehicle, electric vehicle). On the basis of region, the market is divided into Northern & Central, Southern, Eastern, and Western.
Company Profiles
Toyota Motors Corporation, Isuzu Motors, Saudi Arabia Company Limited, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Limited, Ford Motor Company, Hyundai Motor Company, MAN Truck and Bus Middle East, Volvo Trucks Corporation, Volvo Bus Mercedes-Benz KSA Commercial Vehicles, Ashok Leyland, Tata Motors Limited are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.
Report Scope:
In this report, Saudi Arabia commercial vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Saudi Arabia Commercial Vehicle Market, By Vehicle Type:
- Light Commercial Vehicle Market
- Medium Commercial Vehicle Market
- Heavy Commercial Vehicle Market
- Saudi Arabia Commercial Vehicle Market, By Propulsion:
- ICE Vehicle
- Electric Vehicle
- Saudi Arabia Commercial Vehicle Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Commercial Vehicle Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. INTRODUCTION
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
3. EXECUTIVE SUMMARY
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. IMPACT OF COVID-19 ON SAUDI ARABIA COMMERCIAL VEHICLE MARKET
5. VOICE OF CUSTOMER
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Brand Satisfaction Level
6. SAUDI ARABIA COMMERCIAL VEHICLE MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Volume
6.1.2. By Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Light Commercial Vehicle, Medium Commercial Vehicle, Heavy Commercial Vehicle)
6.2.2. By Propulsion Market Share Analysis (ICE Vehicle, Electric Vehicle)
6.2.3. By Regional Market Share Analysis
6.2.3.1. Northern & Central Market Share Analysis
6.2.3.2. Western Market Share Analysis
6.2.3.3. Eastern Market Share Analysis
6.2.3.4. Southern Market Share Analysis
6.2.4. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)
6.3. Saudi Arabia Commercial Vehicle Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Propulsion Market Mapping & Opportunity Assessment
6.3.3. By Regional Market Mapping & Opportunity Assessment
7. SAUDI ARABIA LIGHT COMMERCIAL VEHICLE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Volume
7.1.2. By Value
7.2. Market Share & Forecast
7.2.1. By Vehicle Type Market Share Analysis (Pickup Truck & Van, Light Duty Truck)
7.2.2. By Application Market Share Analysis (Logistics, Transportation & Tourism, Construction)
7.2.3. By Propulsion Market Share Analysis
8. SAUDI ARABIA MEDIUM COMMERCIAL VEHICLE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Volume
8.1.2. By Value
8.2. Market Share & Forecast
8.2.1. By Vehicle Type Market Share Analysis (GVW 10-16 Ton, GVW 16-20 Ton)
8.2.2. By Application Market Share Analysis (Construction, Logistics and Others)
8.2.3. By Propulsion Market Share Analysis
9. SAUDI ARABIA HEAVY COMMERCIAL VEHICLE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Volume
9.1.2. By Value
9.2. Market Share & Forecast
9.2.1. By Vehicle Type Market Share Analysis (GVW 20-30 Ton, GVW 30-40 Ton, GVW >40 Ton)
9.2.2. By Application Market Share Analysis (Construction, Logistics and Others)
9.2.3. By Propulsion Market Share Analysis
10. MARKET DYNAMICS
10.1. Market Drivers
10.2. Market Challenges
11. MARKET TRENDS AND DEVELOPMENTS
12. PORTER’S FIVE FORCES MODEL
12.1. Competitive Rivalry
12.2. Bargaining Powers of Suppliers
12.3. Bargaining Powers of Buyers
12.4. Threat of New Entrants
12.5. Threat of Substitutes
13. SWOT ANALYSIS
13.1. Strength
13.2. Weakness
13.3. Opportunities
13.4. Threats
14. POLICY & REGULATORY LANDSCAPE
15. SUPPLY CHAIN ANALYSIS
16. SAUDI ARABIA ECONOMIC PROFILE
17. COMPETITIVE LANDSCAPE
17.1. Company Profiles (Up To 10 Major Companies)
17.1.1. Toyota Motors Corporation
17.1.1.1. Company Details
17.1.1.2. Products & Services
17.1.1.3. Recent Development
17.1.1.4. Key Management Personnel
17.1.2. Isuzu Motors Saudi Arabia Company Limited
17.1.2.1. Company Details
17.1.2.2. Products & Services
17.1.2.3. Recent Development
17.1.2.4. Key Management Personnel
17.1.3. Mitsubishi Fuso Truck and Bus Corporation
17.1.3.1. Company Details
17.1.3.2. Products & Services
17.1.3.3. Recent Development
17.1.3.4. Key Management Personnel
17.1.4. Hino Motors Limited
17.1.4.1. Company Details
17.1.4.2. Products & Services
17.1.4.3. Recent Development
17.1.4.4. Key Management Personnel
17.1.5. Ford Motor Company
17.1.5.1. Company Details
17.1.5.2. Products & Services
17.1.5.3. Recent Development
17.1.5.4. Key Management Personnel
17.1.6. Hyundai Motor Company
17.1.6.1. Company Details
17.1.6.2. Products & Services
17.1.6.3. Recent Development
17.1.6.4. Key Management Personnel
17.1.7. MAN Truck and Bus Middle East
17.1.7.1. Company Details
17.1.7.2. Products & Services
17.1.7.3. Recent Development
17.1.7.4. Key Management Personnel
17.1.8. Volvo Trucks Corporation and Volvo Bus
17.1.8.1. Company Details
17.1.8.2. Products & Services
17.1.8.3. Recent Development
17.1.8.4. Key Management Personnel
17.1.9. Mercedes-Benz KSA Commercial Vehicles
17.1.9.1. Company Details
17.1.9.2. Products & Services
17.1.9.3. Recent Development
17.1.9.4. Key Management Personnel
17.1.10. Ashok Leyland
17.1.10.1. Company Details
17.1.10.2. Products & Services
17.1.10.3. Recent Development
17.1.10.4. Key Management Personnel
17.1.11. Tata Motors Limited
17.1.11.1. Company Details
17.1.11.2. Products & Services
17.1.11.3. Recent Development
17.1.11.4. Key Management Personnel
18. STRATEGIC RECOMMENDATIONS
18.1. Key Focus Areas
18.2. Target Regions
18.3. Target Vehicle Type
19. ABOUT US & DISCLAIMER
1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
3. EXECUTIVE SUMMARY
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. IMPACT OF COVID-19 ON SAUDI ARABIA COMMERCIAL VEHICLE MARKET
5. VOICE OF CUSTOMER
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Brand Satisfaction Level
6. SAUDI ARABIA COMMERCIAL VEHICLE MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Volume
6.1.2. By Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Light Commercial Vehicle, Medium Commercial Vehicle, Heavy Commercial Vehicle)
6.2.2. By Propulsion Market Share Analysis (ICE Vehicle, Electric Vehicle)
6.2.3. By Regional Market Share Analysis
6.2.3.1. Northern & Central Market Share Analysis
6.2.3.2. Western Market Share Analysis
6.2.3.3. Eastern Market Share Analysis
6.2.3.4. Southern Market Share Analysis
6.2.4. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)
6.3. Saudi Arabia Commercial Vehicle Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Propulsion Market Mapping & Opportunity Assessment
6.3.3. By Regional Market Mapping & Opportunity Assessment
7. SAUDI ARABIA LIGHT COMMERCIAL VEHICLE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Volume
7.1.2. By Value
7.2. Market Share & Forecast
7.2.1. By Vehicle Type Market Share Analysis (Pickup Truck & Van, Light Duty Truck)
7.2.2. By Application Market Share Analysis (Logistics, Transportation & Tourism, Construction)
7.2.3. By Propulsion Market Share Analysis
8. SAUDI ARABIA MEDIUM COMMERCIAL VEHICLE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Volume
8.1.2. By Value
8.2. Market Share & Forecast
8.2.1. By Vehicle Type Market Share Analysis (GVW 10-16 Ton, GVW 16-20 Ton)
8.2.2. By Application Market Share Analysis (Construction, Logistics and Others)
8.2.3. By Propulsion Market Share Analysis
9. SAUDI ARABIA HEAVY COMMERCIAL VEHICLE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Volume
9.1.2. By Value
9.2. Market Share & Forecast
9.2.1. By Vehicle Type Market Share Analysis (GVW 20-30 Ton, GVW 30-40 Ton, GVW >40 Ton)
9.2.2. By Application Market Share Analysis (Construction, Logistics and Others)
9.2.3. By Propulsion Market Share Analysis
10. MARKET DYNAMICS
10.1. Market Drivers
10.2. Market Challenges
11. MARKET TRENDS AND DEVELOPMENTS
12. PORTER’S FIVE FORCES MODEL
12.1. Competitive Rivalry
12.2. Bargaining Powers of Suppliers
12.3. Bargaining Powers of Buyers
12.4. Threat of New Entrants
12.5. Threat of Substitutes
13. SWOT ANALYSIS
13.1. Strength
13.2. Weakness
13.3. Opportunities
13.4. Threats
14. POLICY & REGULATORY LANDSCAPE
15. SUPPLY CHAIN ANALYSIS
16. SAUDI ARABIA ECONOMIC PROFILE
17. COMPETITIVE LANDSCAPE
17.1. Company Profiles (Up To 10 Major Companies)
17.1.1. Toyota Motors Corporation
17.1.1.1. Company Details
17.1.1.2. Products & Services
17.1.1.3. Recent Development
17.1.1.4. Key Management Personnel
17.1.2. Isuzu Motors Saudi Arabia Company Limited
17.1.2.1. Company Details
17.1.2.2. Products & Services
17.1.2.3. Recent Development
17.1.2.4. Key Management Personnel
17.1.3. Mitsubishi Fuso Truck and Bus Corporation
17.1.3.1. Company Details
17.1.3.2. Products & Services
17.1.3.3. Recent Development
17.1.3.4. Key Management Personnel
17.1.4. Hino Motors Limited
17.1.4.1. Company Details
17.1.4.2. Products & Services
17.1.4.3. Recent Development
17.1.4.4. Key Management Personnel
17.1.5. Ford Motor Company
17.1.5.1. Company Details
17.1.5.2. Products & Services
17.1.5.3. Recent Development
17.1.5.4. Key Management Personnel
17.1.6. Hyundai Motor Company
17.1.6.1. Company Details
17.1.6.2. Products & Services
17.1.6.3. Recent Development
17.1.6.4. Key Management Personnel
17.1.7. MAN Truck and Bus Middle East
17.1.7.1. Company Details
17.1.7.2. Products & Services
17.1.7.3. Recent Development
17.1.7.4. Key Management Personnel
17.1.8. Volvo Trucks Corporation and Volvo Bus
17.1.8.1. Company Details
17.1.8.2. Products & Services
17.1.8.3. Recent Development
17.1.8.4. Key Management Personnel
17.1.9. Mercedes-Benz KSA Commercial Vehicles
17.1.9.1. Company Details
17.1.9.2. Products & Services
17.1.9.3. Recent Development
17.1.9.4. Key Management Personnel
17.1.10. Ashok Leyland
17.1.10.1. Company Details
17.1.10.2. Products & Services
17.1.10.3. Recent Development
17.1.10.4. Key Management Personnel
17.1.11. Tata Motors Limited
17.1.11.1. Company Details
17.1.11.2. Products & Services
17.1.11.3. Recent Development
17.1.11.4. Key Management Personnel
18. STRATEGIC RECOMMENDATIONS
18.1. Key Focus Areas
18.2. Target Regions
18.3. Target Vehicle Type
19. ABOUT US & DISCLAIMER
