Saudi Arabia passenger car market is projected to grow at a CAGR of over 3.82% by volume during the forecast period and is anticipated to reach USD16.70 billion by 2026. The Saudi Arabia passenger car market is driven by expanding road infrastructure and increasing per capita spending of the people in the region. 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 is expected to increase from this segment and is susceptible to propel the market in the forecast period as well.
The Saudi Arabia passenger car market is divided based on vehicle type, fuel type, transmission type, engine capacity and company. Based on vehicle type, the market can be classified into hatchback, sedan, pick-up cars, multi-purpose vehicles and sports utility vehicles. In terms of vehicle type, the sedan car segment accounts for the largest share but due to increasing traffic congestion and shortage of parking space by daily commuters, this segment is expected to lose market share. Based on fuel type, the market is majorly contributed by gasoline driven passenger cars due to comparatively low gasoline prices and this trend is susceptible to withstand in the forecast period as well. In the sedan segment, cars with engine capacity up to 2000cc are expected to hold majority shares, but due to the increasing demand for cars with higher engine capacities, cars with engine capacity below 2000cc are anticipated to register a slothful growth. Cars with automatic transmission account for the majority share in the Saudi Arabia 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 Saudi Arabia 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 Saudi Arabia passenger car market industry 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:
- To analyze the historical growth in the market size of the Saudi Arabia passenger car market from 2016 to 2020.
- To estimate and forecast the market size of the Saudi Arabia passenger car market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast Saudi Arabia passenger car market-based vehicle type, fuel type, transmission type, engine capacity and company.
- To identify dominant region or segment in the Saudi Arabia passenger car market.
- To identify drivers and challenges for the Saudi Arabia passenger car market.
- To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Saudi Arabia passenger car market.
- To conduct pricing analysis for the Saudi Arabia passenger car market.
- To identify and analyze the profile of leading players operating in the Saudi Arabia passenger car market.
- To identify key sustainable strategies adopted by the market players in the Saudi Arabia passenger car market.
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 Saudi Arabia region. 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 was able to include vendors and service providers 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 Saudi Arabia 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 analysing 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:
- Global passenger car manufacturers operating in the country
- Dealers and distributors of passenger cars
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to passenger car
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, the Saudi Arabia Passenger Car market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Saudi Arabia Passenger Car Market, By Vehicle Type:
o Multi-Purpose Vehicle (MPV)
o Sports Utility Vehicle (SUV)
o Pick-Up Cars
- Saudi Arabia Passenger Car Market, By Fuel Type:
o Gasoline / Petrol
o Alternate Fuels
- Saudi Arabia Passenger Car Market, By Transmission Type:
o Manual Transmission
o Automatic Transmission
Company Profiles: Detailed analysis of the major companies present in the 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:
- Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect sales channel.