MENA Bus and Coach Market to Grow With 4.78% CAGR until 2027
Dependency over public transportation drives the MENA bus and
coach market growth in the forecast period, 2022-2026F.
According
to TechSci Research report, “MENA Bus and Coach Market - By Country, Competition Forecast and
Opportunities, 2016-2026F”, The MENA bus and coach market is
anticipated to reach a market value of USD4,472.08 million by 2026F, growing
with a CAGR of 4.78% during the forecast period, 2022-2026, on account of
surging demand for fuel-efficient transportation and public commuting vehicles.
Increasing concerns regarding depleting fuel and non-renewable energy resources
are also facilitating the growth of the MENA bus and coach market in the
upcoming five years. Rising demands for electric vehicles and hybrid vehicles
following the growing technological advancement in the automotive are also
supporting the growth of the MENA bus and coach market in the next five years.
High cost of fuel, increasing promotions of fuel-efficient vehicles, and
methods to reduce the high consumption of petrol, diesel, and gasoline further
suggests the use of public transport for the daily commute drives the growth of
the MENA bus and coach market in the future five years. Moreover, government
support to the automotive industry with influencing the manufacturers of
commercial vehicles also substantiates the growth of the MENA bus and coach
market in the forecast years through 2026. Furthermore, growing urbanization,
increasing employment among the population, growing demands from the end use
industries like petrochemicals, IT, finance, education, etc. along with the
rising population, and better road infrastructure are expected to aid the
growth of the MENA bus and coach market in the forecast period.
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The MENA bus and coach market
is segmented by length, application based on types of buses, application based
on type of usage, seating capacity, fuel type, body type, country, and
competitive landscape. Based on length, the market is further bifurcated into
6-8m, 8-10m, 10-12m, and above 12m. 6-8m length of the buses and coaches are
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years due to the higher prevalence of
compact and concise commercial vehicles utilized for population commutes. Due
to the presence of difficult terrain and demand for appropriate vehicles to
commute in such areas further facilitates the growth of the MENA bus and coach
market and the growth of the sub-segment in the future five years.
Based on the application of
bus and coaches by types of busses, the market is further segmented into
mini-coach, mid-coach, shuttle bus, motorcoach, double-decker bus, and others.
Minicoach is anticipated to hold the largest revenue shares of the market and
dominate the market segment with more than 30% shares in the upcoming five
years on the grounds of increasing demands for small buses in various countries
of the region. The majority of the countries in the region have difficult terrain
and require more efficient vehicles for transportation and commute, thereby
substantiating the growth of the MENA bus and coach market in the future five
years.
A partial list of market
players holding major revenue shares of the MENA bus and coach market include :
- Tata Motors Ltd.
- MAN Truck & Bus Middle East FZE
- Yutong Bus Co. Ltd.
- Isuzu Motors Limited
- Ashok Leyland UAE LLC
- Scania CV AB (publ)
- Mercedes-Benz Turk A.S.
- AB Volvo
- VDL Groep BV
- Toyota Motor Corporation
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“United Arab Emirates was
leading the MENA bus and coach market in the historical period. The domination
of the country is anticipated to be taken over by the Kingdom of Saudi Arabia
by 2026F due to a sudden drop in revenues of UAE in 2018. Sales of commercial
vehicles in the UAE dropped considerably and resulted in slowing the growth of
the market in the country. Saudi Arabia is expected to facilitate its growth
through 2026 on the grounds of rising demands for smart city projects.
Increasing advancement in the automotive, increasing electric vehicle
popularity is further anticipated to drive the growth of the market in the
country. With increasing employment in the country along with rising women
employment may further support the growth of the MENA bus & coach market in
the forecast years. New market players entering the market may focus on technological
advancement and increasing the production of electric & hybrid buses.
Demands for electric vehicles are anticipated to expedite in future years, thus
supporting the new market players in the brand establishment,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based Middle East
& North Africa management consulting firm.
“MENA Bus and Coach
Market By Length (6-8m, 8-10m, 10-12m, Above 12m), By Application, By Type of
Buses (Motor Coach, Mini Coach, Mid Coach, Double Decker Bus, Shuttle Bus,
Others), By Application, By Type of Usage (Public Transport, Tourist Bus,
School Bus, Office Bus), By Seating Capacity (Up to 30, 31-40, 41-50, Above
50), By Fuel Type (Diesel, Electric & Hybrid, Alternative Fuels, Fuel Cell,
Petrol/Gasoline), By Body Type (Customizable, Fully Built), By Country, Competition
Forecast and Opportunities, 2016-2026”, has evaluated the future
growth potential of MENA Bus and coach 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
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in MENA bus and coach markets.
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