Market Insights Mobility Commercial Vehicles

Light Commercial Vehicles - Jordan

Jordan

The Light Commercial Vehicles market in Jordan is projected to reach 6.43k vehicles unit sales in 2024.
The market is expected to demonstrate a compound annual rate (CAGR 2024-2030) of 2.60%, resulting in a projected market volume of 7.50k vehicles units by 2030.
In terms of production, the Light Commercial Vehicles market is anticipated to reach 0.00 units in 2030, indicating the potential for significant growth in the market.
When considering the international perspective, it is evident that the majority of sales in 2024 will be the in the United States, with a forecasted figure of 13,200.00k vehicles units.
The demand for light commercial vehicles in Jordan has been steadily increasing due to the country's growing construction industry.

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Light Commercial Vehicles market in Jordan has been experiencing steady growth in recent years.

Customer preferences: In Jordan, there is a growing demand for Light Commercial Vehicles due to their versatility and practicality. These vehicles are popular among small business owners and entrepreneurs who require a vehicle for transporting goods or providing services. Additionally, the increasing number of construction and infrastructure projects in the country has also contributed to the demand for Light Commercial Vehicles, as they are often used for transporting construction materials and equipment.

Trends in the market: One of the key trends in the Light Commercial Vehicles market in Jordan is the shift towards more fuel-efficient and environmentally friendly vehicles. This trend is driven by increasing awareness about the impact of vehicle emissions on the environment and the rising cost of fuel. As a result, there is a growing demand for hybrid and electric Light Commercial Vehicles, which offer lower fuel consumption and reduced emissions. Another trend in the market is the integration of advanced technology in Light Commercial Vehicles. Features such as GPS navigation systems, Bluetooth connectivity, and advanced safety features are becoming increasingly common in these vehicles. This trend is driven by the need for improved efficiency and safety in commercial operations.

Local special circumstances: One of the unique factors influencing the Light Commercial Vehicles market in Jordan is the country's geographical location. Jordan serves as a strategic gateway between the Middle East and Europe, making it an important transit hub for goods and services. This has led to an increased demand for Light Commercial Vehicles for logistics and transportation purposes.

Underlying macroeconomic factors: The growth of the Light Commercial Vehicles market in Jordan can be attributed to several underlying macroeconomic factors. The country has experienced stable economic growth in recent years, which has resulted in an increase in consumer purchasing power. This has led to a higher demand for Light Commercial Vehicles among small business owners and entrepreneurs. Additionally, the government of Jordan has implemented policies to support the growth of the automotive industry, including the reduction of import tariffs and the provision of incentives for the production and use of electric vehicles. These policies have encouraged investment in the sector and have contributed to the growth of the Light Commercial Vehicles market. In conclusion, the Light Commercial Vehicles market in Jordan is experiencing steady growth due to customer preferences for versatile and practical vehicles, the shift towards fuel-efficient and technologically advanced vehicles, the country's unique geographical location, and the underlying macroeconomic factors such as stable economic growth and government support for the automotive industry.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of light commercial vehicles.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.