GCC Passenger Car Market Size, Share & Market forecast 2026

Summary

Report Description

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:

To analyze the historical growth in the market size of the GCC passenger car market from 2016 to 2020.
To estimate and forecast the market size of the GCC passenger car market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the GCC passenger car market-based on vehicle type, fuel type, transmission type, end user, country and company.
To identify dominant region or segment in the GCC passenger car market.
To identify drivers and challenges for the GCC passenger car market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the GCC passenger car market.
To conduct pricing analysis for the GCC passenger car market.
To identify and analyze the profile of leading players operating in the GCC passenger car market.
To identify key sustainable strategies adopted by market players in the GCC passenger car market.

Click here to download the sample

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:

Global passenger car manufacturers operating in the region
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 cars

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.

Report Scope:

In this report, the GCC passenger car market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
GCC Passenger Car Market, By Vehicle Type:

Hatchback
Sedan
Multi-Purpose Vehicle
Sports Utility Vehicle

GCC Passenger Car Market, By Fuel Type:

Petrol/Gasoline
Diesel
Alternate Fuels

GCC Passenger Car Market, By Transmission Type:

Manual Transmission
Automatic Transmission

GCC Passenger Car Market, By End User:

Individual Owners
Fleet Owners

GCC Passenger Car Market, By Country:

Kingdom of Saudi Arabia
United Arab Emirates
Kuwait
Oman
Qatar
Bahrain

Company Profiles: Detailed analysis of the major companies present in the GCC passenger car market.

Available Customizations:

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:

Company Information

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.

Table of content

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on GCC Passenger Car Market

4. Executive Summary

5. Voice of Customer

5.1. Factors Influencing Purchase Decision

5.2. Influencer of Purchase

5.3. Aided Brand Recall

5.4. Unaided Brand Recall

6. GCC Passenger Car Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type (Hatchback, Sedan, SUV, MPV)

6.2.2. By Fuel Type (Diesel, Gasoline & Alternate)

6.2.3. By End User (Individuals Vs Fleet Owner)

6.2.4. By Transmission Type (Automatic, Manual)

6.2.5. By Country

6.2.6. By Company (2020)

6.3. Product Market Map (By Vehicle Type, Fuel Type, End User)

7. UAE Passenger Car Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Vehicle Type

7.2.2. By Fuel Type

7.2.3. By End User

7.2.4. By Transmission Type

7.2.5. By Company (2020)

7.3. Pricing Analysis

7.4. Import & Export Analysis

7.5. Product Market Map (By Vehicle Type, Fuel Type, End User)

8. Saudi Arabia Passenger Car Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Vehicle Type

8.2.2. By Fuel Type

8.2.3. By End User

8.2.4. By Transmission Type

8.2.5. By Company (2020)

8.3. Pricing Analysis

8.4. Import & Export Analysis

8.5. Product Market Map (By Vehicle Type, Fuel Type, End User)

9. Qatar Passenger Car Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Vehicle Type

9.2.2. By Fuel Type

9.2.3. By End User

9.2.4. By Transmission Type

9.2.5. By Company (2020)

9.3. Pricing Analysis

9.4. Import & Export Analysis

9.5. Product Market Map (By Vehicle Type, Fuel Type, End User)

10. Kuwait Passenger Car Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Vehicle Type

10.2.2. By Fuel Type

10.2.3. By End User

10.2.4. By Transmission Type

10.2.5. By Company (2020)

10.3. Pricing Analysis

10.4. Import & Export Analysis

10.5. Product Market Map (By Vehicle Type, Fuel Type, End User)

11. Bahrain Passenger Car Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Vehicle Type

11.2.2. By Fuel Type

11.2.3. By End User

11.2.4. By Transmission Type

11.2.5. By Company (2020)

11.3. Pricing Analysis

11.4. Import & Export Analysis

11.5. Product Market Map (By Vehicle Type, Fuel Type, End User)

12. Oman Passenger Car Market Outlook

12.1. Market Size & Forecast

12.1.1. By Value

12.2. Market Share & Forecast

12.2.1. By Vehicle Type

12.2.2. By Fuel Type

12.2.3. By End User

12.2.4. By Transmission Type

12.2.5. By Company (2020)

12.3. Pricing Analysis

12.4. Import & Export Analysis

12.5. Product Market Map (By Vehicle Type, Fuel Type, End User)

13. Market Dynamics

13.1. Drivers

13.2. Challenges

14. Market Trends & Developments

15. Competitive Landscape

15.1. Competition Outlook

15.2. Company Profiles

15.2.1. Toyota Motor Corporation

15.2.2. Nissan Motor Company, Ltd.

15.2.3. Hyundai Motor Company

15.2.4. Mitsubishi Motors Corporation

15.2.5. Kia Corporation

15.2.6. General Motors Company

15.2.7. Fiat Automobiles S.p.A.

15.2.8. Mercedes-Benz

15.2.9. Volkswagen AG

15.2.10. Bayerische Motoren Werke (BMW) AG

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Figure 1: GCC Passenger Car Market Size By Volume (Units) and Value (USD Million), 2016-2026

Figure 2: GCC Passenger Car Market Share By Vehicle Type, By Volume, 2016-2026

Figure 3: GCC Passenger Car Market Share By Fuel Type, By Volume, 2016-2026

Figure 4: GCC Passenger Car Market Share By End User, By Volume, 2016-2026

Figure 5: GCC Passenger Car Market Share By Transmission Type, By Volume, 2016-2026

Figure 6: GCC Passenger Car Market Share By Country, By Volume, 2016-2026

Figure 7: GCC Passenger Car Market Share By Company, By Volume, 2020

Figure 8: Saudi Arabia Passenger Car Market Size By Volume (Units) and Value (USD Million), 2016-2026

Figure 9: Saudi Arabia Passenger Car Market Share By Vehicle Type, By Volume, 2016-2026

Figure 10: Saudi Arabia Passenger Car Market Share By Fuel Type, By Volume, 2016-2026

Figure 11: Saudi Arabia Passenger Car Market Share By End User, By Volume, 2016-2026

Figure 12: Saudi Arabia Passenger Car Market Share By Transmission Type, By Volume, 2016-2026

Figure 13: Saudi Arabia Passenger Car Market Share By Company, By Volume, 2020

Figure 14: UAE Passenger Car Market Size By Volume (Units) and Value (USD Million), 2016-2026

Figure 15: UAE Passenger Car Market Share By Vehicle Type, By Volume, 2016-2026

Figure 16: UAE Passenger Car Market Share By Fuel Type, By Volume, 2016-2026

Figure 17: UAE Passenger Car Market Share By End User, By Volume, 2016-2026

Figure 18: UAE Passenger Car Market Share By Transmission Type, By Volume, 2016-2026

Figure 19: UAE Passenger Car Market Share By Company, By Volume, 2020

Figure 20: Oman Passenger Car Market Size By Volume (Units) and Value (USD Million), 2016-2026

Figure 21: Oman Passenger Car Market Share By Vehicle Type, By Volume, 2016-2026

Figure 22: Oman Passenger Car Market Share By Fuel Type, By Volume, 2016-2026

Figure 23: Oman Passenger Car Market Share By End User, By Volume, 2016-2026

Figure 24: Oman Passenger Car Market Share By Transmission Type, By Volume, 2016-2026

Figure 25: Oman Passenger Car Market Share By Company, By Volume, 2020

Figure 26: Kuwait Passenger Car Market Size By Volume (Units) and Value (USD Million), 2016-2026

Figure 27: Kuwait Passenger Car Market Share By Vehicle Type, By Volume, 2016-2026

Figure 28: Kuwait Passenger Car Market Share By Fuel Type, By Volume, 2016-2026

Figure 29: Kuwait Passenger Car Market Share By End User, By Volume, 2016-2026

Figure 30: Kuwait Passenger Car Market Share By Transmission Type, By Volume, 2016-2026

Figure 31: Kuwait Passenger Car Market Share By Company, By Volume, 2020

Figure 32: Qatar Passenger Car Market Size By Volume (Units) and Value (USD Million), 2016-2026

Figure 33: Qatar Passenger Car Market Share By Vehicle Type, By Volume, 2016-2026

Figure 34: Qatar Passenger Car Market Share By Fuel Type, By Volume, 2016-2026

Figure 35: Qatar Passenger Car Market Share By End User, By Volume, 2016-2026

Figure 36: Qatar Passenger Car Market Share By Transmission Type, By Volume, 2016-2026

Figure 38: Qatar Passenger Car Market Share By Company, By Volume, 2020

Figure 39: Bahrain Passenger Car Market Size By Volume (Units) and Value (USD Million), 2016-2026

Figure 40: Bahrain Passenger Car Market Share By Vehicle Type, By Volume, 2016-2026

Figure 41: Bahrain Passenger Car Market Share By Fuel Type, By Volume, 2016-2026

Figure 42: Bahrain Passenger Car Market Share By End User, By Volume, 2016-2026

Figure 43: Bahrain Passenger Car Market Share By Transmission Type, By Volume, 2016-2026

Figure 44: Bahrain Passenger Car Market Share By Company, By Volume, 2020

Frequently asked questions

Related Reports

Srishti Verma

Business Consultant

Talk To Analyst

Press Release

GCC Passenger Car Market to Grow at 6.68% CAGR By 2026

Apr, 2021

Continuously growing demand for passenger cars due to expanding road infrastructure, increasing service sector and rising disposable income is going to drive the GCC passenger car market through 2026

Buy Now