Algerian CV Market to Grow 7.5 Percent by 2020
Research and Markets has announced the addition of the "Algeria Commercial Vehicles Market Forecast and Opportunities, 2020" report to its offering.
The commercial vehicles market in Algeria is forecast to grow at a CAGR of 7.5 percent during 2015-20, according to the researchers.
In 2014, vans garnered the largest share in the North African country's commercial vehicles market due to their multi-purpose use, efficient point-to-point transport in congested regions and better utility in desert regions. However, truck sales have also been increasing in the country on account of growing infrastructure, consistent demand from oil and gas sector, and ban on imports of used trucks in Algeria. The heavy-duty truck segment is expected to exhibit highest growth amongst all truck segments over the next five years. The bus market in Algeria is also poised to grow at a healthy pace backed by the government's increasing focus towards strengthening public transport infrastructure in the country, according to the researchers.
Algeria is the 10th largest country in the world in terms of land area and also the largest in Middle East and North Africa. Over the past decade, the Algerian government has been increasing its focus on making infrastructure investments for development of ports, commercial sector, roadways and housing projects in the country. The government has also been working on improving the policy environment to attract foreign investments for increasing the pace of infrastructure development in the country, according to the report.
These initiatives are projected to drive demand for commercial vehicles in the country over the course of next decade. Increasing commercialization and the need for addressing growing transportation requirements of the country are also driving demand for buses and vans in Algeria, according to the researchers.