Saudi Arabia Bus Market to be Valued USD 15.09 Billion by 2025
Growing population and
rising urbanization coupled with increasing demand for electric & CNG buses
is expected to drive Saudi Arabia bus market through 2025
According
to TechSci Research report, “Saudi Arabia Bus Market By Bus Length (Up to 8
M, 8-10 M, 10-12 M, & Above 12 M), By Seating Capacity (15-30, 30-40, 40-50
& Above 50), By Fuel Type (Diesel, Petrol, CNG, Others), By Application
(Transit Buses, Motor Coaches & School Buses), Competition, Forecast &
Opportunities, 2025”, the bus market in Saudi Arabia was valued USD 13.51
Billion in 2019 and is forecast to grow at CAGR of 8.52% in value terms over the
next five 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.
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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 Up to 8 M, 8-10 M, 10-12 M, & 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.
Mercedes
Benz AG, MAN SE, Scania AB, Tata Motors Limited, Hyundai Motors Company, AB
Volvo, Eicher Motors Limited, Mitsubishi Fuso Truck and Bus Corporation, Ashok
Leyland Limited and Alexander Dennis Limited (ADL), 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.
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“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 2025.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi Arabia Bus Market By Bus Length (Up to 8 M,
8-10 M, 10-12 M, & Above 12 M), By Seating Capacity (15-30, 30-40, 40-50
& Above 50), By Fuel Type (Diesel, Petrol, CNG, Others), By Application
(Transit Buses, Motor Coaches & School Buses), Competition, Forecast &
Opportunities, 2025” 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.
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