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Saudi Arabia Electric Commercial Vehicle Market, By Propulsion Type (BEV, HEV, PHEV), By Vehicle Type (Bus, Truck), By Range (0-150 Miles, 151-250 Miles, 251-400 Miles and Above 400 Miles), By Battery Capacity (By Battery Capacity (<100 kWh, 100-200 kWh, 201-300 kWh, >300 kWh), By Company and By Geography, Forecast & Opportunities, 2027
Market Report (3 days for delivery) I 2022-05-01 I 69 Pages I TechSci Research
Saudi Arabia electric commercial vehicle market is anticipated to grow at a significant rate during the forecast period. The market growth can be attributed to the growing environmental awareness and increasing use of commercial vehicles in the logistics and transportation sectors. Flourishing small and medium-sized enterprises and favorable government policies, tax exemptions, subsidies, low buying costs, and charging facilities for promoting the rising adoption of electric vehicles are expected to drive the Saudi Arabia electric commercial vehicle market. Additionally, rising demand for fuel-efficient automobiles and the launch of new models by automobile manufacturers are anticipated to drive the Saudi Arabia electric commercial vehicle market. Growing innovations in EV battery capacity to make the EV models more affordable and reduce the frequency for charging are boosting the adoption of commercial electric vehicles in Saudi Arabia.
As part of diversifying its economy away from oil, Saudi Electric Company (SEC) collaborated with major automobile manufacturers such as Nissan Motor Company, Tokyo Electric Power Company, and Tecaoca Coco Energy Solutions Company to strengthen the domestic market of commercial electric vehicles in 2018. The deal will also aim to expand electric charging stations, boosting the demand for electric commercial vehicles and driving its market growth. However, the high development costs of electric commercial vehicles and related components such as batteries and monitoring systems could hinder the growth of Saudi Arabia electric commercial vehicle market. Besides, inadequate electric vehicle charging infrastructure is a significant factor restricting the growth of Saudi Arabia electric commercial vehicle market.
Saudi Arabia electric commercial vehicle market is segmented based on propulsion type, vehicle type, range, component, region, and company. Based on vehicle type, Saudi Arabia electric commercial vehicle market is sub-segmented into bus, truck, van, and pickup trucks. The electric van segment is expected to hold the largest share in Saudi Arabia electric commercial vehicle market owing to the increased usage of electric vans in the logistics sector and e-commerce sectors.
Higher Bus Company Ltd., Anhui Ankai Automotive Co, Ltd., China Yuchai International Ltd., Daimler AG, AB Volvo, Tesla, etc., are the top players in the Saudi Arabia electric commercial vehicle market. Companies leading the Saudi Arabia electric commercial vehicle market have strong distribution networks at a global level and extensive product range.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
To analyze and forecast the market size of Saudi Arabia Electric Commercial Vehicle Market, in terms of value and volume.
To classify and forecast Saudi Arabia Electric Commercial Vehicle Market based on propulsion type, vehicle type, range, battery capacity and regional distribution.
To identify drivers and challenges for Saudi Arabia Electric Commercial Vehicle Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia Electric Commercial Vehicle Market.
To conduct the pricing analysis for Saudi Arabia Electric Commercial Vehicle Market.
To identify and analyze the profile of leading players involved in the manufacturing of Saudi Arabia Electric Commercial Vehicle Market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across Saudi Arabia. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analysed the product offerings, distribution channels and presence of all major collaboration manufacturer across Saudi Arabia.
TechSci Research calculated the market size of Saudi Arabia Electric Commercial Vehicle Market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
Electric Commercial Vehicle Manufacturers
Automotive OEMs
Traders, Distributors, and Suppliers
Raw Material Suppliers
Industry associations and experts
Research organizations and consulting companies
Research Institutes
Industry associations
Market research and consulting firm
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Saudi Arabia Electric Commercial Vehicle Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Saudi Arabia Electric Commercial Vehicle Market, By Propulsion Type:
o BEV
o HEV
o PHEV
Saudi Arabia Electric Commercial Vehicle Market, By Vehicle Type:
o Bus
o Truck
Saudi Arabia Electric Commercial Vehicle Market, By Battery Capacity:
o <100 kWh
o 100-200 kWh
o 201-300 kWh
o >300 kWh
Saudi Arabia Electric Commercial Vehicle Market, By Region:
o Northern & Central Region
o Western Region
o Southern Region
o Eastern Region
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Electric Commercial Vehicle Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according the companys specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
Profit margin analysis in case of direct and indirect sales channel.
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Saudi Arabia Electric Commercial Vehicle Market
5. Voice of Customer
5.1. Product Awareness
5.2. Product Pricing
5.3. Challenges and Unmet Needs
6. Saudi Arabia Electric Commercial Vehicle Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Propulsion Type (BEV, HEV, PHEV)
6.2.2. By Vehicle Type (Bus, Truck)
6.2.3. By Range (0-150 Miles, 151-250 Miles, 251-400 Miles and Above 400 Miles)
6.2.4. By Battery Capacity (<100 kWh, 100-200 kWh, 201-300 kWh, >300 kWh)
6.2.5. By Region
6.2.6. By Company
6.3. Market Map
7. Saudi Arabia Electric Bus Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Propulsion Type
7.2.2. By Range
7.2.3. By Battery Capacity
7.2.4. By Application (Logistics, Construction, Municipal, Others)
7.3. Product Benchmarking
8. Saudi Arabia Electric Truck Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Propulsion Type
8.2.2. By Range
8.2.3. By Battery Capacity
8.2.4. By Application (Public Transport, Tourists, School, Office, Others)
8.3. Product Benchmarking
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Cost Benefit of ICE vs Electric Commercial Vehicle
11. Market Trends and Developments
12. Policy & Regulatory Landscape
13. Saudi Arabia Economic Profile
14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles (Top 10 Companies)
14.2.1. Higher Bus Company Ltd.
14.2.2. Anhui Ankai Automotive Co, Ltd.
14.2.3. China Yuchai International Ltd.
14.2.4. Daimler AG
14.2.5. AB Volvo
14.2.6. Tesla
15. Strategic Recommendations
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