According to Organic Market Research, Saudi Arabia Commercial Vehicle Market Share was USD 3.61 billion in 2023 and the market is projected to touch USD 5.84 billion by 2032, at a CAGR of 6.2 % during the forecast period. The market is poised for steady growth, driven by the government’s focus on economic diversification, the rapid expansion of infrastructure projects, and the rise of e-commerce. The increasing adoption of new technologies, coupled with growing environmental awareness, is expected to shape the market dynamics in the coming years, creating opportunities for local and international players.
The Saudi Arabia commercial vehicle market is experiencing notable growth, driven by various factors such as economic diversification initiatives, infrastructure development, and a growing logistics and e-commerce sector. The country’s Vision 2032, which aims to reduce dependency on oil and foster economic diversification, has led to significant investments in sectors such as construction, logistics, and transportation, boosting the demand for commercial vehicles.
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Market Segmentation
By Propulsion
- Electric Vehicle
- ICE Vehicle
By Vehicle Type
- Light Commercial Vehicle
- Medium Commercial Vehicle
- Heavy Commercial Vehicle
By Application
- Construction
- Logistics
- Transportation & Tourism
Customization Scope
- Available upon request
Pricing
- Available upon request
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KSA Commercial Vehicle Market Revenue
Key Players in the Market
The major players in the market are Daimler AG, Volvo Trucks Corporation, Toyota Motor Corporation, Isuzu Motors Saudi Arabia Ltd, MAN Truck & Bus SE, Tata Motors Ltd, Ford Motor Company, Hino Motors Ltd, Scania AB, and Iveco Group N.V.
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