Saudi Arabia Bus Market to Grow at Double Digit CAGR During Forecast Period
Growing population and
rising urbanization coupled with increasing demand for electric & CNG buses
is expected to drive Saudi Arabia bus market through 2024
According
to TechSci Research report, “Saudi
Arabia Bus Market By Bus Length, By Seating Capacity, By Fuel Type, By
Application, Competition, Forecast & Opportunities, 2024”, the bus market in Saudi Arabia was valued close to $ 1.6 billion
in 2018 and is forecast to register a double digit CAGR over the coming years.
This is due to the reason that buses are the only means of public transport in
some of the cities in Saudi Arabia. Increasing demand for public transportation
among growing population and worsening traffic congestion are other reasons for
the growth of bus market in the country. Also, the government of Saudi Arabia
is focusing on manufacturing buses locally in order to create employment
opportunities and to save import costs, thereby boosting the domestic industry.
Browse market data Tables and Figures spread through Pages and an in-depth TOC on "Saudi Arabia Bus Market"
https://www.techsciresearch.com/report/saudi-arabia-bus-market/4337.html
Saudi Arabia bus market can be segmented based on bus length, seating
capacity, fuel type, application and region. Based on the bus length, market
can be segregated into 6-8 m, 8-10 m, 10-12 m and above 12 m. 10-12 m segment
is anticipated to dominate the market owing to the preference for medium and
large buses by the public transport authority. In terms of application, transit
bus segment is expected to grow at the highest rate due to increasing
investment in the public transit network by the government to solve the issue
of overcrowding.
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4337
Customers can also
request for 10% free customization on this report.
Toyota
Motor Corporation, Daimler AG, Hyundai Motor Company, Zhengzhou Yutong Bus Co.,
Ltd., Beiqi Foton Motor Co., Ltd., Mitsubishi Motors Corporation, Tata Motors
Limited, King Long United Automotive Industry Co., Ltd., MAN Truck & Bus AG,
among others are the leading players operating in the Saudi Arabia bus market. The
companies operating in the market are using strategies such as product launches
and investing in research & development to increase their share in the
country.
“In terms of fuel type, diesel
dominated the Saudi Arabia bus market in 2018 and the trend is expected to
continue over the forecast period as well. However, on account of increasing
focus of the government on increasing the number of Umrah and Haj pilgrims by
providing efficient, clean and reliable transportation, market share of
electric & hybrid bus is expected to increase through 2024.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi Arabia Bus Market By
Bus Length, By Seating Capacity, By Fuel Type, By Application, Competition,
Forecast & Opportunities, 2024” has evaluated the future growth potential of Saudi
Arabia bus market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers to take sound investment decision.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in the Saudi Arabia bus market.Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]