Middle East & Africa Commercial Vehicles Market Size & Outlook
Middle East & Africa commercial vehicles market, 2018-2030 (US$M)
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MEA commercial vehicles market highlights
- The MEA commercial vehicles market generated a revenue of USD 11,913.5 million in 2023.
- The market is expected to grow at a CAGR of 2.3% from 2024 to 2030.
- In terms of segment, light commercial vehicle was the largest revenue generating product in 2023.
- Light Commercial Vehicle is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 11,913.5 million |
| Market revenue in 2030 | USD 13,950.1 million |
| Growth rate | 2.3% (CAGR from 2023 to 2030) |
| Largest segment | Light commercial vehicle |
| Fastest growing segment | Light Commercial Vehicle |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Light Commercial Vehicle, Heavy Trucks, Buses & Coaches |
| Key market players worldwide | Bosch, Daimler Truck Holding AG ADR, Volkswagen AG, Toyota Motor Corp, Mahindra & Mahindra Ltd DR, Volvo AB ADR, General Motors Co |
Other key industry trends
- In terms of revenue, MEA region accounted for 1.0% of the global commercial vehicles market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 363,337.5 million by 2030.
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Commercial Vehicles Market Scope
Commercial Vehicles Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa commercial vehicles market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial vehicles market will help companies and investors design strategic landscapes.
Light commercial vehicle was the largest segment with a revenue share of 73.06% in 2023. Horizon Databook has segmented the Middle East & Africa commercial vehicles market based on light commercial vehicle, heavy trucks, buses & coaches covering the revenue growth of each sub-segment from 2018 to 2030.
The Middle Eastern & African region holds a larger share of the world’s petroleum production & exports. The region has also witnessed growth in its construction market. These scenarios are expected to drive the commercial vehicles sales in the region.
The increasing infrastructure spending can be attributed to the large-scale international events such as Expo 2020 Dubai and the FIFA World Cup 2022 in Qatar, which are expected to be held in the region in the coming years.
This is expected to drive the regional market growth. The growing number of manufacturing facilities, climate-related policies, and advancements in technology are the key factors expected to drive the sales of commercial vehicles over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa commercial vehicles market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa commercial vehicles market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Commercial Vehicles Market Outlook Share, 2023 & 2030 (US$M)
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