DUBLIN–(BUSINESS WIRE)–The “MENA Bus and Coach Market, By Length (6-8m, 8-10m, 10-12m, Above 12m), By Application By Type of Buses, By Application By Type of Usage, By Seating Capacity, By Fuel Type, By Body Type, and By Country, Competition Forecast & Opportunities, 2026” report has been added to ResearchAndMarkets.com’s offering.
The MENA Bus and Coach Market is expected to grow at a CAGR of over 4.78%, in value terms to reach USD4.47 billion, over the next five years, on the back of growing consumer preferences for public transportation across the countries of the Middle East and North Africa.
The majority of the Middle Eastern economies are oil driven and bottoming crude oil prices have put a strain on even the region’s wealthiest nations. Due to the declaration of lockdown to curtail the spread of the COVID-19 pandemic, oil exports of these countries have witnessed a sheer decline in 2020, as a result unemployment in the region escalated in 2020.
The growing unemployment has resulted in decreasing consumer spending and has shifted user preferences to utilize more of public transportation. With growing usage of public transportation, sale of buses and coaches is anticipated to increase over the forthcoming years, affecting the MENA Bus and Coach Market in a positive manner.
Moreover, with worsening climatic conditions, governments around the region are focusing on the usage of public transportation for commute. As of November 2020, Yutong Group Co., Ltd., a large-scale industrial group mainly specialized in manufacturing and sales of the bus business has received an order from Mowasalat, the Qatar public transport company of around USD0.28 billion (CNY1.8 billion) for 1,002 buses that will provide commuting services for the FIFA World Cup Qatar 2022. Out of these 1,002 buses, 741 buses are going to be electric, making it the largest order of EV buses ever.
Major bus companies such as Toyota Motor Corporation, AB Volvo, etc., operating in the Middle East and North Africa Bus and Coach market are increasingly focusing on expanding their product portfolio in the region to boost their market share. As of June 2021, according to Arab News, the makers of the lithium titanate oxide (LTO) buses, Al-Fahim Group and Yinlong Energy claim that the electric buses manufactured by them can be charged in less than 20 minutes compared to hours for other lithium-ion electric buses.
Constant improvisation in technology and continuously expanding portfolio is anticipated to drive the sales of buses and coaches in the countries of Middle East and Northern Africa over the next five years.
The spread of the COVID-19 pandemic has created both public health and economic crisis across the world. Automotive industry has faced a high degrowth in the production of vehicles due to full and partial lockdown imposed in various countries to stop the spread of the COVID-19 virus, which forced the major automotive manufacturers to halt their production for a few months. Also, there was a decrease in the demand for new vehicles across the region, as economy of various major countries in the region showed a dip during 2020.
The bus and coach market in the Middle East is majorly import driven due to the lockdown restrictions logistics and the supply chain was also severely affected. Many of the manufacturing companies could not complete their shipments due to the unavailability of port facilities and lockdown restrictions.
Due to import restrictions, people were not able to buy buses and coaches, hampering the bus and coach market growth in the MENA region. As markets started to open in 2021, the sales of buses and coaches is starting to grow again, as a result the recovery of the market is anticipated to happen in around three years.
Some of the major players operating in the MENA Bus and Coach Market are
- Toyota Motor Corporation
- Tata Motors Ltd.
- MAN Truck and Bus
- Yutong Bus Co. Ltd.
- Isuzu Motors Ltd.
- Ashok Leyland
- VDL Groep
- Scania AB
- AB Volvo
- Daimler AG
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
MENA Bus and Coach Market, By Length:
- Above 12m
MENA Bus and Coach Market, By Application By Type of Buses:
- Motor Coach
- Mini Coach
- Mid Coach
- Double Decker Bus
- Shuttle Bus
MENA Bus and Coach Market, By Application By Type of Usage:
- Public Transport
- Tourist Bus
- School Bus
- Office Bus
MENA Bus and Coach Market, By Seating Capacity:
- Up To 30
- Above 50
MENA Bus and Coach Market, By Country:
- Saudi Arabia
- United Arab Emirates
For more information about this report visit https://www.researchandmarkets.com/r/bes8wb
Laura Wood, Senior Press Manager
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