New York, July 06, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Middle East & North Africa Commercial Vehicle Market By Vehicle Type, By Propulsion, By Application By Region, Competition, Forecast & Opportunities, 2018- 2028F” – https://www.reportlinker.com/p06472465/?utm_source=GNWIncreasing Commercial Vehicle Network in Logistics and E-Commerce Industry
A surge in demand for material handling and carrying equipment has led to an increase in demand for vehicles such as commercial trucks and trailers, a preference for heavy-duty commercial vehicles, and increased investments in logistics and construction activities are some of the factors driving the growth of the Middle East & North Africa (MENA) commercial vehicles market.The construction industry is expanding rapidly because of the large number of projects in the pipeline in each Middle Eastern country, and this is also related to the Middle Eastern governments’ attempts to diversify their economies.Due to their extensive use in industries such as petrochemicals, the UAE and Oman are also increasingly becoming appealing markets for commercial vehicles, which is likely to improve the total demand for trucks in the Middle East region.
Increasing Production and Sales of Electric Commercial Vehicles:
The expanding electric vehicle industry is likely to drive the market owing to increased freight, logistics, and construction activities.The advent of severe restrictions to reduce excessive emissions has prompted vehicle manufacturers to design and build low-emission fleets to replace diesel vehicles with cleaner alternatives.Technological Advancement
With the development of electric and autonomous vehicles, the commercial vehicle sector is experiencing tremendous technological breakthroughs.For instance, Telematics technology was first introduced by Volvo Trucks and has been considered a key growth driver in the Commercial Vehicle Market.Since Dubai’s Roads and Transport Authority (RTA) mandated that all heavy vehicles install telematics to reduce accident risk, encourage safe driving habits, strengthen the country’s infrastructure, and reduce the financial, human, and environmental impact of heavy trucks, the adoption of the technology has skyrocketed.
Furthermore, municipal waste management trucks have begun to use the technology for more efficient waste collection and management. “Waste bins are attached with sensors using advanced IoT-based devices.” Monitoring, management, and transportation of trash bins, drivers, and vehicles are all possible with a well-integrated system.
Strict Government Regulations
Increased carbon emissions have resulted in the implementation of government regulations and rules for automobile manufacturers.Manufacturers confront challenges because of increased government regulations and standards.Market Trends
Investment in the transport and logistics industry is increasing as trade operations in the Middle East increase.The governments in the region are also investing heavily in infrastructure development.Governments in the Middle East and Africa are devoting time and resources to sustainable transportation technologies and renewable energy, which are predicted to enhance demand for and use of buses, hence aiding the market growth.The Middle East and Africa bus sector is seeing an increase in the use of electric buses.Recent Developments
Yutong introduced its most recent EV battery safety technology in September 2021.It is the world’s first EV safety system to be tested on commercial vehicles in batches.Admiral Mobility has announced plans to import 5,000 Geely Farizon electric commercial vehicles to the Middle East, including 3,000 commercial electric trucks (6-tonne and 8-tonne) and 2,000 electric Farizon SuperVANs.The company will get its first shipment in early 2023.Volvo Group disclosed an extended range for Volvo’s battery electric trucks, as well as a new, completely electric rear axle that can accommodate more batteries.
Tata Motors Limited has presented a wide range of 21 new commercial vehicles across all sectors.These cutting-edge vehicles complement Tata Motors’ long-standing “Power of 6” benefit offering by addressing specific usage and applications while delivering improved productivity and lower total cost of ownership.Market Segmentation
The Middle East & North Africa Commercial Vehicle Market is segmented on the basis of vehicle type, propulsion, application, and region.Based on vehicle type, the market is further segmented into Light Commercial Vehicles (LCV), Medium Commercial Vehicles (MCV), and Heavy Commercial Vehicles (HCV).Company Profiles
TATA Motors Ltd, MAN Truck & Bus Middle East FZE, Ashok Leyland (U.A.E) L.L.C, Mercedes-Benz Group AG, Scania AB, Toyota Motor Corporation, Ab Volvo, Isuzu Motors International FZE, Zhengzhou Yutong Bus Co., Ltd., General Motors Corporation And Ford Middle East. Are the key players in the Middle East & North Africa Commercial Vehicle market.• Middle East & North Africa Commercial Vehicle Market, By Vehicle Type:
o Light Commercial Vehicles (LCV)
o Medium Commercial Vehicles (MCV)
o Heavy Commercial Vehicles (HCV)
• Middle East & North Africa Commercial Vehicle Market, By Propulsion Type:
o Internal Combustion Engine (ICE)
o Electric
• Middle East & North Africa Commercial Vehicle Market, By End User:
o Construction
o Logistics
o Mining
o Oil & Gas
o Others
• Middle East & North Africa Commercial Vehicle Market, By Country:
o Turkey
o Saudi Arabia
o Egypt
o UAE
o Iraq
o Morocco
o Kuwait
o Qatar
o Oman
o BahrainRead the full report: https://www.reportlinker.com/p06472465/?utm_source=GNWReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
(GlobeNewsWire)