Commercial vehicles can be understood to refer to any type of motor vehicle that is used to move goods, and are used in a variety of industries with applications such as loading and transport among others. Their popularity stems from their high productivity and operational efficiency, particularly in countries that are experiencing a boom in development and economic growth. Popular examples of commercial vehicles include: trucks, buses, tractors and even buses and taxis as well.
Commercial vehicles like trucks have found applications in various end use industries such as construction, mining, petrochemicals and waste management etc., pushing for the growth of the truck market in the MENA region. Buyers of commercial trucks have been opting for vehicles that are equipped with advanced systems for better consumer experience and convenience. The trend of product innovation for efficiency based on advanced machines for heavier payloads are also expected to have a positive impact on the commercial vehicles market in Middle East and North Africa (MENA).
Commercial vehicles including trucks can be categorized on the basis of weight and the payload that they can carry, into heavy, medium and light duty vehicles. Heavy duty commercial vehicles have been and are set to be the popular choice in the MENA region, during the forecast period.
Impact of Economic Factors
There has been a spurt of economic growth in the MENA region in recent years, which has led to an increase in construction, mining, and oil and gas growing at a rapid pace. With urbanization also being a huge influence on the construction sector in the region, and newer projects being planned, this is set to have a positive impact on the commercial vehicles market as well.
With countries in the MENA region becoming the attractive markets in the oil and gas landscape, and the use of commercial vehicles for various applications in oil and gas, is also expected to push their demand in the region.
Connectivity and Fleet Management
With technology allowing for automation of vehicles, manufacturers are already integrating technology to make connectivity and fleet management a convenience a standard. While telematics as a technology to boost productivity by tracking equipment utilization has been around for a better part of a decade, it is now being implemented for fleet management as well. It is being marketed as being helpful in improving productivity and efficiency, enhancing fleet and driver safety, and reducing operating costs. Buyers of these modernized commercial vehicles are looking at advanced telematics that delivers improvements in compliance, driver efficiency and fleet performance.
Manufacturers making improvements to existing products and innovation of new ones to enhance user experience, while catering to these growing demand from buyers
Commercial Vehicles of the Future
The growing global emphasis on reducing carbon emissions and working towards sustainability has led to manufacturers in the commercial vehicles industry diverting their attention to the product innovations that fall in line with the same tenet. Players in the market are looking at becoming increasingly socially responsible by improving the safety and energy efficacy of their products, without compromising on the operational efficiency. The commercial vehicle landscape is being reimagined with manufacturers collaborating with tech providers to improve safety and sustainability in transport and logistics.
Recent times have seen manufacturers investing in research and development into reducing carbon emissions of vehicles and keeping up with the global automotive trend of shifting to cleaner, greener and renewable sources of energy to power their vehicles. And with technology’s pervasive influence also making a big impact on the commercial vehicles market, players are looking to make fundamental improvements by integrating it to create intelligent transport systems of the future.
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