Market Research Report
Saudi Arabia Passenger Car Market By Vehicle Type (Hatchback, Sedan, MPV, Pickup and SUV), By Fuel Type (Petrol, Diesel and Others), By Transmission Type (MT and AT), Competition, Forecast & Opportunities, 2024
|Saudi Arabia Passenger Car Market By Vehicle Type (Hatchback, Sedan, MPV, Pickup and SUV), By Fuel Type (Petrol, Diesel and Others), By Transmission Type (MT and AT), Competition, Forecast & Opportunities, 2024|
Published: August 1, 2019
Content info: 121 Pages
Delivery time: 2-3 business days
Saudi Arabia passenger car market was valued at over $ 11 billion in 2018 and is projected to grow at a CAGR of around 16% to surpass $ 28 billion by 2024 on account of increasing per capita income and developing infrastructure of the country. Upliftment of ban from women driving along with increasing number of CKD plants are further driving growth of the market in the country. Moreover, Saudi Arabia is the one of the largest auto and auto parts market in the Middle East, accounting for over 30 per cent of all vehicles sold in the region. Also, the Saudi government is looking to develop domestic automotive industries and is encouraging global vehicle manufacturers to establish local operations, which would further drive Saudi Arabia passenger car market in the coming years.
Saudi Arabia passenger car market can be segmented based on vehicle type, fuel type, transmission type and region. In terms of passenger car type, market can be classified into hatchback, sedan, MPV, pickup and SUV. Sedan cars dominated Saudi Arabia passenger car market in 2018, with the market share of over 55%, and the segment is expected to continue its dominance during the forecast period as well. The leading position of sedan segment is backed by the wide range of products in this segment, besides being comparatively more spacious and easier to maintain. SUVs segment held the second largest market share in 2018, primarily on account of SUV's powerful engine, higher passenger capacity and suitability for off-road driving.
List of major players operating in the Saudi Arabia passenger car market include Toyota Motors Corporation, Hyundai Motor Company, Mazda Saudi Arabia, Nissan Motor Co. Ltd, General Motors Co., Ford Middle East, Kia Motors Corp, Isuzu Motors Saudi Arabia Co. Ltd., Volkswagen AG, Renault Middle East, etc. Major companies are adopting strategies such as expansion in new locations, mergers & acquisitions and product developments. With rising focus of these leading players on sales and marketing activities, the passenger car industry in Saudi Arabia is anticipated to witness intensifying competition over the next five years.
Years considered for this report:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the country.
TechSci Research calculated the market size of Saudi Arabia passenger car market by using a bottom-up approach, where data for various end-user segments was 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.
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.
In this report, Saudi Arabia passenger car market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia 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:
(Note: The companies list can be customized based on the client requirements.)