Report Overview

Saudi Arabia Heavy Duty Trucks Market – Industry Trends & Forecast Report, 2031

Saudi Arabia Heavy Duty Trucks Market size by value was estimated at USD 8.53 billion in 2024. During the forecast period between 2024 and 2031, the Saudi Arabia Heavy Duty Trucks Market size is expected to expand at a CAGR of 5.10% reaching a value of USD 12.09 billion by 2031. The Heavy Duty Trucks Market in Saudi Arabia is flourishing due to a confluence of factors. The Kingdom's ambitious Vision 2030 plan, which prioritizes economic diversification and infrastructure development, is a key driver. This translates to a surge in construction projects, demanding heavy duty trucks to haul building materials and equipment. Further, the oil & gas sector, a mainstay of the Saudi economy, relies heavily on these trucks for operations. Apart from the traditional sectors, the booming logistics and e-commerce sector is also creating a significant demand for heavy duty trucks. The need to efficiently transport goods across the vast nation, coupled with the rise of last-mile deliveries fueled by e-commerce, necessitates a robust fleet of heavy duty trucks. This growth is expected to continue as Saudi Arabia cements its position as a regional trade and transportation hub.

Heavy Duty Trucks – Overview

Heavy duty trucks are large vehicles primarily designed for transporting goods over long distances. These trucks typically consist of a powerful engine, sturdy chassis, and large trailers for hauling cargo. They play a vital role in the transportation industry, facilitating the movement of goods across vast distances efficiently. Heavy duty trucks are commonly used in sectors such as logistics, construction, and manufacturing, where the transportation of heavy loads is necessary. They come in various configurations and are essential for the global economy's functioning, powering supply chains and supporting various industries with their hauling capabilities.

Saudi Arabia Heavy Duty Trucks Market

Growth Drivers

Surging Demand from Major Industry Verticals

The expansion of Saudi Arabia Heavy Duty Trucks Market has been fueled by a surging demand for the trucks from booming construction and mining sectors. The Saudi Government’s investments in infrastructure projects and mega-cities like NEOM require vast quantities of building materials and equipment, all transported by heavy trucks. Similarly, the mining industry relies on heavy duty trucks to haul minerals and resources. The growth of Saudi Arabia Heavy Duty Trucks Market is expected to continue as the Kingdom is focused on economic diversification.

Challenges

High Initial Cost of Emerging Technologies

Saudi Arabia Heavy Duty Truck Market is poised for growth, but the adoption of emerging technologies among heavy truck fleet companies faces a hurdle due to high upfront costs. While features like advanced driver-assistance systems (ADAS) and eco-friendly engines offer long-term benefits in fuel efficiency and safety, they significantly inflate the initial purchase price compared to traditional models. It can be a deterrent for budget-conscious businesses, potentially slowing the widespread adoption of these advancements in Saudi Arabia Heavy Duty Truck Market.

Impact of Escalating Geopolitical Tensions on Saudi Arabia Heavy Duty Trucks Market

Escalating geopolitical tensions across the Middle East and West Asia regions could affect the growth of Saudi Arabia Heavy Duty Trucks Market, triggering uncertainties and challenges. The Kingdom's strategic importance, coupled with fluctuations in global oil prices, has intensified rivalries among key players. Recent events, such as escalating conflicts in neighboring countries, have raised concerns about supply chain disruptions and security risks, impacting market stability. Additionally, diplomatic strains and trade disputes with certain nations have led to fluctuations in import/export regulations, affecting the flow of goods and investments. Heightened military activities in the Middle East region further exacerbate concerns, potentially deterring foreign investments and hindering market growth. As geopolitical tensions continue to evolve, stakeholders in Saudi Arabia Heavy Duty Trucks Market must navigate through a complex landscape marked by geopolitical risks and uncertainties.

Saudi Arabia Heavy Duty Trucks Market

Segmental Coverage

Saudi Arabia Heavy Duty Trucks Market – By Weight

Based on weight, Saudi Arabia Heavy Duty Trucks Market is divided into 8,000–11,000 Kg, 11,000–15,000 Kg, and 15,000 Kg & above segments. The 15,000 Kg & above weight trucks segment holds the largest market share of Saudi Arabia Heavy Duty Trucks Market by weight. The segment encompasses trucks designed for substantial hauling capacities, indicating a significant demand for heavy duty transport solutions in the region. With its capability to handle substantial loads, the 15000 Kg & Above segment likely caters to industries requiring robust transportation options, such as construction, logistics, and manufacturing. This preference suggests a growing need for vehicles capable of efficiently transporting heavy materials and goods across Saudi Arabia's diverse landscape, reflecting the country's expanding industrial and commercial activities.

Saudi Arabia Heavy Duty Trucks Market – By Class

On the basis of class, Saudi Arabia Heavy Duty Trucks Market is divided into Class-6, Class-7, and Class-8 segments. The Class-8 segment is holds the largest share of Saudi Arabia Heavy Duty Trucks Market. Class-8 trucks are known for their robustness and capability to handle heavy loads, making them crucial for various industries such as construction, logistics, and transportation. With their higher capacity and power, Class-8 trucks often dominate the market due to their versatility and suitability for demanding applications, reflecting their significant presence in Saudi Arabia Heavy Duty Trucks Market.

Saudi Arabia Heavy Duty Trucks Market – By Fuel Type

Based on fuel type, Saudi Arabia Heavy Duty Trucks Market is divided into Diesel, Natural Gas, Gasoline, Hybrid, Electric, and Fuel Cell segments. Diesel is the largest fuel type in Saudi Arabia Heavy Duty Trucks Market. With its established infrastructure and widespread usage, diesel-powered trucks dominate the landscape, offering robust performance and reliability. Despite the growing interest in alternative fuels like natural gas, gasoline, hybrid, electric, and fuel cell technologies, diesel remains the primary choice for heavy duty applications in Saudi Arabia. Its efficiency, availability, and familiarity contribute to its continued prominence, although the market may witness shifts as environmental concerns and technological advancements drive further diversification in the future.

Saudi Arabia Heavy Duty Trucks Market – By Application

Saudi Arabia Heavy Duty Trucks Market by application is divided into Construction & Mining and Freight & Logistics segments. Within these segments, various factors such as infrastructure development, mining operations, and the transportation of goods play significant roles in shaping market dynamics. Construction & Mining encompasses the transportation needs of heavy materials, oil & gas, equipment, and personnel required for infrastructure projects and mining operations across the country. Meanwhile, freight & logistics focus on the transportation of goods across different sectors of the economy, reflecting the Kingdom's growing industrial and commercial activities. These application segments collectively drive the growth and demand in the Saudi Heavy Duty Truck Market.

Competitive Landscape

The competition in Saudi Arabia Heavy Duty Trucks Market is intense. Key companies in the market include Mercedes-Benz AG, MAN SE, AB Volvo, ISUZU Motors International FZE, Hyundai Motor Company, DAF Trucks, and Scania AB. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Weight

• 8,000–11,000 Kg

• 11,000–15,000 Kg

• 15000 Kg & Above

By Class

• Class-6

• Class-7

• Class-8

By Fuel Type

• Diesel

• Natural gas

• Gasoline

• Hybrid

• Electric

• Fuel Cell

By Application

• Construction & Mining

• Freight & Logistics

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Saudi Arabia Heavy Duty Trucks Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Demand in Construction and Mining Industries
         2. Growing Regulations on Vehicle Emissions
         3. Advancement in Vehicle Safety
         4. Evolving Autonomous Trucking Technology
      2. Restraints
         1. High Initial Cost of New Technologies
         2. Limited Range and Charging Infrastructure for Electric Trucks
      3. Opportunities
         1. Growing Interest in Electric and Alternative Fuel Vehicles
         2. Digitalization and Fleet Management Solutions
      4. Challenges
         1. Skilled Workforce for Maintenance of New Technologies
         2. Fluctuations in Fuel Prices
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Saudi Arabia Heavy Duty Trucks Market: Marketing Strategies
5. Saudi Arabia Heavy Duty Trucks Market: Pricing Analysis
6. Saudi Arabia Heavy Duty Trucks Market Overview
   1. Market Size & Forecast, 2019–2031
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Weight
         1. 8,000–11,000 Kg
         2. 11,000–15,000 Kg
         3. 15,000 Kg & Above
      2. By Class
         1. Class-6
         2. Class-7
         3. Class-8
      3. By Fuel Type
         1. Diesel
         2. Natural gas
         3. Gasoline
         4. Hybrid
         5. Electric
         6. Fuel Cell
      4. By Application
         1. Construction & Mining
         2. Freight & Logistics
         3. Others
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Saudi Arabia Heavy Duty Trucks Company Market Share Analysis, 2024
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on Saudi Arabia Heavy Duty Trucks Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Mercedes-Benz AG
   2. MAN SE
   3. AB Volvo
   4. ISUZU Motors International FZE
   5. Hyundai Motor Company
   6. DAF Trucks
   7. Scania AB
   8. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1.   Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.   Secondary Research
       2.   Primary Research
    4. Breakdown of Primary Research Respondents, By Country
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Saudi Arabia Heavy Duty Trucks Segmentation

Figure 2       Saudi Arabia Heavy Duty Trucks Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2024

Figure 4       Saudi Arabia Heavy Duty Trucks Market Size, By Value (USD Billion), 2019–2031

Figure 5       Saudi Arabia Heavy Duty Trucks Market Share, By Weight, By Value, 2019–2031

Figure 6       Saudi Arabia Heavy Duty Trucks Market Share, By Class, By Value, 2019–2031

Figure 7       Saudi Arabia Heavy Duty Trucks Market Share, By Fuel Type, By Value, 2019–2031

Figure 8       Saudi Arabia Heavy Duty Trucks Market Share, By Application, By Value, 2019–2031

List of Tables

Table 1        Saudi Arabia Heavy Duty Trucks Market Size, By Value (USD Billion), 2019–2031

Table 2        Saudi Arabia Heavy Duty Trucks Market Size, By Weight, By Value, 2019–2031

Table 3        Saudi Arabia Heavy Duty Trucks Market Size, By Class, By Value, 2019–2031

Table 4        Saudi Arabia Heavy Duty Trucks Market Size, By Fuel Type, By Value, 2019–2031

Table 5        Saudi Arabia Heavy Duty Trucks Market Size, By Application, By Value, 2019–2031

Table 6        Mercedes-Benz AG Company Overview

Table 7        Mercedes-Benz AG Financial Overview

Table 8        MAN SE Company Overview

Table 9        MAN SE Financial Overview

Table 10      AB Volvo Company Overview

Table 11      AB Volvo Financial Overview

Table 12      ISUZU Motors International FZE Company Overview

Table 13      ISUZU Motors International FZE Financial Overview

Table 14      Hyundai Motor Company: Company Overview

Table 15      Hyundai Motor Company Financial Overview

Table 16      DAF Trucks Company Overview

Table 17      DAF Trucks Financial Overview

Table 18      Scania AB Company Overview

Table 19      Scania AB Financial Overview