Demand for trucks in the Middle East reached 12.7% in 2010 despite the global industry declining by 1.95%.
According to ICD Research, spending on transport infrastructure helped Saudi Arabia and UAE lead the way as the Middle East benefitted from favourable business conditions and foreign investment.
The strong demand helped to make the Middle East the fastest growing in the world, placing it ahead of the rapidly expanding Asia Pacific region which recorded a CAGR of 11.31%.
North America had the biggest decline of 14.62% and ICD Research reported than European demand also fell, although it could recover as economic conditions in the western European economies improve.
Despite the surge in demand the Middle East remains the smallest market in terms of volume. South America was the smallest consumer of trucks after the region and recorded a CAGR of 2.92% in the review period.
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