Forecast: Import of Work Trucks Electrically Powered to Saudi Arabia

The historical data from 2013 to 2023 shows notable fluctuations in the import of electrically powered work trucks to Saudi Arabia. Starting at 84.0 thousand kilograms in 2013, imports saw a peak at 160.38 thousand kilograms in 2018, followed by some volatility before stabilizing at 169.05 thousand kilograms in 2023. Significant year-on-year variations ranged from a -54.81% decrease in 2017 to a 141.46% increase in 2018. Over the last five years, the average annual growth rate (CAGR) was 1.06%, indicating moderate growth.

The forecast from 2024 to 2028 shows a steady increase, with a projected import value of 198.59 thousand kilograms in 2028. The forecasted five-year CAGR is 2.58%, suggesting a positive but gradual growth rate.

Future trends to watch for include technological advancements in electric truck efficiency, government policies promoting sustainable transportation, and the evolving economic landscape in Saudi Arabia, which could impact import demand and market stability.