Market Research Report
GCC Passenger Car Market, By Vehicle Type, By Fuel Type, By Transmission Type, By End User, By Country, Competition, Forecast & Opportunities, 2026
|Published by||TechSci Research||Product code||1002687|
|Published||Content info||80 Pages
Delivery time: Inquiry
|GCC Passenger Car Market, By Vehicle Type, By Fuel Type, By Transmission Type, By End User, By Country, Competition, Forecast & Opportunities, 2026|
|Published: April 28, 2021||Content info: 80 Pages||
GCC Passenger Car Market, By Vehicle Type (Hatchback, Sedan, MPV, and SUV), By Fuel Type (Petrol/Gasoline, Diesel and Others), By Transmission Type (Automatic Transmission and Manual Transmission), By End User (Individual Owners and Fleet Owners), By Country, Competition, Forecast & Opportunities, 2026.
GCC passenger car market is projected to grow at a CAGR of 8.73%, in value terms, during the forecast period and is anticipated to reach USD46.13 billion by 2026. The GCC passenger car market is driven by the increasing service sector, growing non-oil economy and rising disposable income of the people in the region, especially, in the United Arab Emirates and Kingdom of Saudi Arabia. In 2017, the ban on women driving was uplifted in the Kingdom of Saudi Arabia and since then there is an increase in women drivers. Hence, the demand from women drivers is also susceptible to rise in the coming years and propel the market in the forecast period.
The Gulf Cooperation Council (GCC) was established in 1981 and its 6 members are the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain. Every country's economy in GCC is majorly dependent on oil & petroleum product trades. However, currently the government is taking initiatives to help non-oil sectors like services, construction, tourism and others grow, this changing demographic in turn is aiding the growth of purchasing powers and consumer disposable income.
GCC passenger car market is divided based on vehicle type, fuel type, transmission type, end user and country. Based on vehicle type, the market can be classified into hatchback, sedan, multi-purpose vehicle and sports utility vehicle. In terms of vehicle type, the sedan car segment accounts for the largest share but due to increase in the service sector, demand for personal transportation is increasing and hence giving rise to the hatchback car segment.
Based on fuel type, the market is dominated by vehicles driven by gasoline or petrol due to comparatively low gasoline prices and hence attaining low costs of ownership and this trend is susceptible to withstand in the forecast period as well. On the basis of passenger car sales by end user, individual owners are much more contributing as compared to fleet owners. Cars with automatic transmission account for the majority of share in the GCC passenger car market on account of ease of driving with stringent traffic rules across the region.
Toyota Motor Corporation, Nissan Motor Company, Ltd., Hyundai Motor Company, Mitsubishi Motors Corporation, Kia Corporation, etc., are among some of the leading players operating in the GCC passenger car market. Apart from these companies, other passenger car manufacturers are also increasing their marketing activities and enriching their product portfolio in the region to increase their customer outreach. Major companies in the GCC passenger car market are also focusing on increasing their dealer and distributor network to grab a larger share in the region's passenger car market.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of passenger car dealers and distributors in the GCC region. Subsequently, TechSci Research conducted primary research surveys with identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include manfacturers that could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, application, distribution channel and regional presence of all the passenger car distributors and dealers across the country.
TechSci Research calculated the market size of the GCC passenger car market using a bottom-up approach, where data for various end-user segments were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Sports Utility Vehicle
Kingdom of Saudi Arabia
United Arab Emirates
Company Profiles: Detailed analysis of the major companies present in the GCC passenger car market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Profit Margin Analysis: