BURNABY, Canada, August 11, 2015 /PRNewswire/ --
Growing infrastructure and tourism sectors, rising urbanization and implementation of favorable government initiatives to drive Algeria commercial vehicles market through 2020
Algeria is an emerging market for commercial vehicles in Africa. Though there is a dearth of domestic production activities in Algeria, major auto-manufacturers have collaborated with Algeria-based companies in order to facilitate sales of vehicles in the country. Majority of commercial vehicle manufacturers are opting for CKD imports into the country in order to reap tax benefits. According to TechSci Research report, "Algeria Commercial Vehicles Market Forecast & Opportunities, 2020'’, the commercial vehicle market of Algeria is anticipated to grow at a healthy CAGR of 7.5% during 2015-20. The country's commercial vehicle market is classified into three different segments -Trucks, Buses and Vans. Major factors propelling growth in the market include rising demand for heavy duty trucks from construction and mining sectors; growing tourism sector leading to a surge in demand for intercity buses; and continuing improvements in the country's transport infrastructure.
Government of Algeria has emphasized on development of road infrastructure to provide favorable conditions for transit within the country. Growing population and rising levels of urbanization and industrialization have been boosting demand for buses and vans in the country. Increasing competition amongst auto-manufacturers, rise in CKD imports and growing penetration of Chinese players in commercial vehicle market have contributed to growth of commercial vehicle sales over the last five years. Coastal region of Algeria garnered the highest share in the overall commercial vehicles sales in the country owing to its proximity to Mediterranean region, presence of ports, coupled with large population and high degree of commercialization compared to other regions.
"The heavy-duty truck segment is forecast to demonstrate the highest growth amongst all the truck segments over the next five years. Prominent factors driving the growth of heavy-duty truck sales include rising construction and building activities initiated by Algerian government coupled with growing need to upgrade old truck fleet. However, vans are expected to retain their dominance in the country's commercial vehicle market through 2020." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Algeria Commercial Vehicles Market Forecast & Opportunities, 2020" has evaluated the future growth potential of Algeria Commercial Vehicles market and provides statistics and information on market structure and future growth of Algeria Commercial Vehicles market. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in commercial vehicles market in Algeria.
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SOURCE TechSci Research