Market Insights Mobility Commercial Vehicles

Trucks - United Arab Emirates

United Arab Emirates

In the United Arab Emirates, the Trucks market is projected to have unit sales of 0.43k vehicles by 2024.
These unit sales are expected to demonstrate a compound annual rate (CAGR 2024-2030) of 0.00%, resulting in a projected market volume of 0.43k vehicles by 2030.
It is worth noting that the production of the Trucks market is also expected to reach 0.00 in 2030, highlighting the potential for growth in this market.
From an international standpoint, it is evident that in China will dominate the sales, with a projected figure of 3,741.00k vehicles units in 2024.
The demand for heavy-duty trucks in the United Arab Emirates is soaring due to the booming construction industry and increased infrastructure projects.

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Analyst Opinion

The Trucks market in United Arab Emirates is experiencing significant growth and development in recent years. Customer preferences in the Trucks market in United Arab Emirates are shifting towards more fuel-efficient and environmentally friendly vehicles.

Customers are increasingly looking for trucks that have lower emissions and better fuel efficiency, as they seek to reduce their carbon footprint and operating costs. Additionally, there is a growing demand for trucks with advanced safety features and technology, such as collision avoidance systems and telematics, to enhance driver safety and improve overall fleet management. One of the key trends in the Trucks market in United Arab Emirates is the increasing adoption of electric and hybrid trucks.

With the government's push towards sustainability and reducing dependence on fossil fuels, there is a growing interest in electric and hybrid trucks among customers. These vehicles offer lower emissions and reduced fuel consumption, making them an attractive option for businesses looking to align with the country's sustainability goals. Another trend in the market is the rise of online truck sales platforms.

Customers are increasingly turning to online platforms to research and purchase trucks, as it offers convenience and a wider selection of vehicles. Online platforms also provide customers with the ability to compare prices and features, making it easier to make informed purchasing decisions. The local special circumstances in the Trucks market in United Arab Emirates include the country's strategic location as a logistics hub and its strong economic growth.

The United Arab Emirates serves as a major gateway for trade between Asia, Europe, and Africa, resulting in a high demand for trucks for transportation and logistics purposes. The country's robust economic growth has also led to increased construction activities and infrastructure development, driving the demand for trucks in the construction industry. Underlying macroeconomic factors that contribute to the growth of the Trucks market in United Arab Emirates include stable oil prices and government initiatives to diversify the economy.

The United Arab Emirates is a major oil producer, and stable oil prices provide a favorable economic environment for businesses and consumers. The government's efforts to diversify the economy and reduce dependence on oil have resulted in increased investments in various sectors, including transportation and logistics, which further drive the demand for trucks. In conclusion, the Trucks market in United Arab Emirates is witnessing significant growth and development, driven by customer preferences for fuel-efficient and environmentally friendly vehicles, the adoption of electric and hybrid trucks, the rise of online sales platforms, the country's strategic location as a logistics hub, and strong macroeconomic factors such as stable oil prices and government initiatives to diversify the economy.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of trucks.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.