The GCC bus industry is expected to grow at a compound annual growth (CAGR) of 3. 6% by 2025. Industry sales have been severely impacted by the economic downturn, resulting from decline in oil prices due to the OPEC Agreement.
New York, Jan. 11, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Intense Competition among Dealers and Distributors Reshaping the Gulf Cooperation Council (GCC) Bus Industry" - https://www.reportlinker.com/p06003988/?utm_source=GNW
Moreover, the COVID-19 pandemic is having a major effect on GCC bus industry sales, which are estimated to decline by 19% in 2020. An expected rollback of GCC government infrastructure development projects in Q2/ Q3 of 2021 and government initiatives to diversify economies and investments in non-oil reforms will help the GCC bus industry gain momentum in the next 3 to 4 years.Key trends expected to fuel demand for new buses include the following: increasing urbanization; government focus on boosting public transportation infrastructure in alignment with National Vision 2030 to make the GCC a world-class tourist destination; implementation of emission regulations; deployment of integrated and multi-modal transportation practices; implementation of On-Demand Responsive Transit systems; increasing adoption of autonomous, driverless shuttles in public transportation fleets by respective transit authorities; increasing penetration of digitalization; and increasing adoption of telematics and connected vehicles.This study covers the medium- and heavy-duty bus market in the GCC nations (Kingdom of Saudi Arabia, Kuwait, United Arab Emirates, Oman, Qatar, and Bahrain), including application-specific bus segment (school, staff and labor, transit, and coach) sales volumes, both historic and forecasts up to 2025. The 2 Core Objectives of this Study:
• Provide a strategic overview of the GCC bus industry, including key and emerging mega trends and opportunities shaping its future
• Present market size and forecasts of the medium- and heavy-duty bus industry
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