UAE Pickup Trucks Market Set to Grow at CAGR 9% by 2022
Rapidly
growing logistics industry coupled with expansion in construction,
infrastructure, mining and tourism sectors to propel UAE light commercial
vehicle market through 2022
According to TechSci Research report, “UAE
Light Commercial Vehicle Market By Vehicle Type, By Fuel Type, By
End Use, Competition Forecast & Opportunities, 2012 – 2022”, light commercial
vehicle market in the UAE is projected to cross $ 2 billion by 2022 out of
which Pickup trucks will lead the market with CAGR 9%. Growing demand for buses
and vans for school students and staff transportation coupled with increasing
use of pickup trucks in oil fields and
construction industry is expected to fuel demand for light commercial vehicles
in the country during the forecast period. Moreover, expanding travel &
tourism sector, increasing penetration of Chinese players, and government
initiatives towards boosting the adoption of electric buses are anticipated to
thrive the UAE light commercial vehicle market over the coming years.
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With a volume share of over 70%, pickup truck segment
dominated the UAE light commercial vehicle market in 2016, on account of growing demand from oil fields and construction industry. Over the last
few years, major automotive giants such as
Toyota, Mitsubishi and Hyundai have widened their product offerings so as to increase
their customer base in the country. Also, various Chinese automobile
manufacturers have been entering into collaborations with local distributors in
order to broaden their market presence in the UAE light commercial vehicle
market.
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“Expanding infrastructure & construction sector
coupled with growing transportation requirements in the country’s travel &
tourism sector, educational institutions, corporates, etc., would continue to
fuel demand for light commercial vehicles in the UAE in the ensuing years.
Moreover, easy availability of financing and free maintenance offered by various
distributors is expected to positively impact the light commercial vehicle
demand in the country over the next five years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“UAE
Light Commercial Vehicle Market By Vehicle Type, By
Fuel Type, By End Use, Competition Forecast & Opportunities, 2012 – 2022” has analyzed
the potential of light
commercial vehicle market in the UAE, and provides statistics and
information on market size, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by the UAE light commercial vehicle market.
About TechSci Research
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