Heavy trucks attained the largest revenue share in the Egypt Trucks Market – 6Wresearch
Heavy trucks segment obtained major market volume and revenue share and this segment will continue to boost the growth of the market. The heavy trucks segment is projected to boost the growth of the Trucks Market in Egypt over the forecast period owing to the rising infrastructural development and construction activities across the nation under the initiative taken by the Egyptian government “Egypt Vision 2030”. Egypt Trucks Market did not negatively affect by the coronavirus pandemic for the 2020. The spread of the virus interrupted commercial activities in the country owing to which trucks sales reduced in the first half of the year, but sales recovered in the second half of the years due to the revival in economic activities in the country. The market has been rising at a rapid pace and the future of this market looks extremely promising. There are many factors contributing to the growth of this market in the nation.
According to 6Wresearch, the Egypt Trucks Market volume is estimated to rise at a CAGR of 8.5% during 2022-2028. The Egypt Trucks Market size is anticipated to grow more in the years to come owing to the growth factors contributing to the growth of the market. Based on the types, the Egypt Trucks Industry is segmented into medium trucks, heavy trucks, and prime mover trucks, out of which, the heavy trucks segment is dominating the market.
According to Ravi Bhandari, Research Head, 6Wresearch, “Heavy trucks are contributing to the growth of the sector as the demand for heavy trucks is growing more with each passing day in the country. Heavy trucks offer better durability, and more engine choices, which is stimulating the demand for these trucks in the country. The segment will continue to grow in the years to come as it has been meeting better with the requirements of key consumers in the country.
“The Egypt Trucks Market (2022-2028)” report provides an in-depth analysis with 33 figures and 13 tables, covered in 117 pages. The report on the Trucks Market in Egypt comprehensively covers the industry by types. The report provides a detailed as well as unbiased analysis of the on-going growth drivers, opportunities/high growth areas, and trends of the market which are anticipated support the stakeholders to align and devise their market strategies according to the latest and future market dynamics.
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