Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Heavy-Duty Trucks Market By Power Output, By Class, By Propulsion Type, By Application, By Transmission Type, By Region, Competition Forecast & Opportunities, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia, Heavy-Duty Trucks Market, reached USD2,482.45 million in 2022, and in the forecast years, the market is expected to exhibit a CAGR of 14.52%, owing to the growing transportation sector and infrastructure development.
Saudi Arabia Heavy-Duty Trucks Market Scope
A heavy-duty truck is a motor vehicle designed to transport cargo. These trucks are used for carrying goods, materials, or troops from one place to another. In terms of class type (tonnage capacity), heavy-duty trucks can be classified into Class 7 (11.7 Tons - 14.9 Tons) and Class 8 (Above 14.9 Tons). The class 8 category in the class type segment is expected to have the highest market share in the country as the penetration of the class 8 category of heavy-duty trucks is higher. Similarly, ICE Heavy-Duty trucks are dominating the market as the adoption of electric heavy-duty trucks is comparatively very less.
Saudi Arabia Heavy-Duty Trucks Market Overview
Saudi Arabia Heavy-Duty Trucks Market has a significant market because of the growing economy and thriving industries. The transportation sector plays a vital role in the country's infrastructure development, and heavy-duty trucks are an integral part of the logistics and construction industries. The heavy-duty truck market in Saudi Arabia has been witnessing steady growth over the years. The demand for heavy-duty trucks is driven by increasing construction activities, infrastructure development, and expanding logistics and transportation sectors. The market size is expected to grow further in the coming years. The construction industry in Saudi Arabia is one of the major drivers of the heavy-duty truck market. The government's focus on infrastructure development, including the construction of new cities, roads, bridges, and other projects, creates a high demand for heavy-duty trucks for the transportation of construction materials and equipment. Similarly, Saudi Arabia is one of the world's largest oil producers, and the oil and gas sector plays a crucial role in the country's economy. Heavy-duty trucks are extensively used in the oil and gas industry for transporting crude oil, refined products, and other materials to and from various locations, including refineries, storage facilities, and distribution centers.
Saudi Arabia Heavy-Duty Trucks Market Drivers
The Fast-growing Saudi Arabia e-commerce and logistics industry has boosted demand for vehicles, including medium trucks and heavy-duty trucks. The need for heavier vehicles, such as heavy-duty trucks and trailers for long-distance transportation, has also expanded because of the expansion of the logistics industry. Additionally, as e-commerce has grown, there is a greater need for last-mile delivery vehicles. The trend is expected to continue as several businesses in the logistics and e-commerce sectors engage in growing their operations in the Saudi Arabian country. Report Scope:
In this report, Saudi Arabia heavy-duty trucks market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Saudi Arabia Heavy-Duty Trucks Market, By Power Output:
- Less than 300 HP
- 300 HP - 500 HP
- Above 500 HP
Saudi Arabia Heavy-Duty Trucks Market, By Class:
- Class 7
- Class 8
Saudi Arabia Heavy-Duty Trucks Market, By Propulsion Type:
- ICE
- Non-ICE
Saudi Arabia Heavy-Duty Trucks Market, By Application:
- Logistics
- Mining
- Construction
- Oil and Gas
- Others
Saudi Arabia Heavy-Duty Trucks Market, By Transmission Type:
- Manual
- Automatic
Saudi Arabia Heavy-Duty Trucks Market, By Region:
- Northern & Central
- Western
- Eastern
- Southern
Competitive Landscape: A selection of companies mentioned in this report includes
- Mercedes-Benz AG (E.A. Juffali and Brothers for Industrial Products Ltd.)
- MAN SE (Haji Husein Alireza & Co. Ltd.)
- ISUZU Motors International FZE
- AB Volvo (Zahid Tractor and Heavy Machinery Co. Ltd)
- Hyundai Motor Company
- Dongfeng Motor Group Co., Ltd. (Altawkilat Universal Motors)
- Hino Motors Ltd. (Tsusho Jamjoom Trading Company)
- TATA Motors Limited (Manahil International Transportation & Services Company)
- PACCAR Inc. (General Contracting Company (GCC) - Olayan)
- China National Heavy-Duty Truck Group Co., Ltd. (Al-Qahtani Vehicle & Machinery Co.)
For more information about this report visit https://www.researchandmarkets.com/r/k7n7sp
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