NEWARK, Del, Jan. 08, 2024 (GLOBE NEWSWIRE) — The MENASA commercial vehicle market value is forecast to increase from US$ 314.4 billion in 2023 to US$ 647.0 billion by 2033. Overall demand for commercial vehicles in the region is set to surge at a CAGR of 7.5% during the assessment period.
The bulk freight segment currently dominates the MENASA industry, and the trend is expected to continue through 2033. It will likely hold a volume share of 26.5% in 2023. On the other hand, the parcel and package delivery segment is set to witness a higher CAGR of 12.1% through 2033.
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