The GCC Van market is expected to experience astronomical growth in the forecast years on account of the introduction of the electric van, rising application areas of the van for various activities such as for drug and explosive detection, and surging inclination toward the adoption of electric vans. Moreover, the extensive government funding toward healthcare infrastructure, growth in food & beverages, and the logistic sector, a host of international events, and rising government initiatives to boost the tourism sector are some of the factors driving the growth of the market in the forthcoming years.
According to MarkNtel Advisors’ research report “GCC Van Market Analysis, 2020”, the GCC Van market is expected to grow at a considerable CAGR during 2020-25. Based on vehicle type, Ambulance vehicle and Emergency service vehicle acquired a considerable market share in 2019. The boost in government spending in the healthcare infrastructure development and launch of the first mobile hearing center van is projected to fuel the growth of the market in the coming years.
“GCC Van Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Van providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
UAE is Expected to Attain Highest CAGR by 2025
UAE is expected to attain the highest CAGR in the GCC Van market by 2025. The growth is attributed to rising security by the government to detect explosives & drugs on people, the launch of electric vans, and the strong presence of giant market players in the country. In 2020, the UAE Federal Customs Authority launched mobile vans to detect drugs, explosives, and other banned substances on highways and along the borders, and even inside cities. Moreover, the rising trend of food vans and burgeoning growth in the logistics sector and in e-retailing are anticipated to fuel the growth of Van market in forthcoming years as stated in the MarkNtel Advisors’ research report “GCC Van Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the GCC Van market include Ford, Volkswagen, Mercedes Benz, Fiat, Iveco, and Others.
Key questions answered in the study: