MENA Used Car Market By Vehicle Type (Small Cars, Mid Cars and Luxury Cars), By End Use (Institutional Vs Individual), By Fuel Type (Petrol/Gasoline, Diesel and Others), By Country, Competition Forecast & Opportunities, 2016-2026F

  • Industry : Automotive
  • Pages : 122
  • Published Date : July, 2021
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Summary

Report Description

MENA used car market was valued over USD 57 Billion in 2020 and is anticipated to grow at a robust growth rate of 8% in terms of value during the forecast period, owing to increasing population of non-native employees who don’t want to spend a fortune on new cars. A used car is a pre-owned vehicle having one or more registered owner(s). Such cars are being sold through a variety of online and offline outlets including garages, independent car dealers, rental car companies, leasing offices, auctions, and private parties. Due to being old, prices of these vehicles are depreciated on the basis of the year of manufacture, distance, vehicle condition, etc. MENA used car market stood at around 3.37 million units in the year ending December 2020. Increase in the average income of residents of countries like Saudi Arabia and United Arab Emirates is aiding the growth of used cars owing to their growing preference of luxury cars at lower prices.

Iran being the largest used car market in the MENA region, was valued at USD 15.63 billion in the year 2020. For used cars in Iran, passenger car brands like Peugeot, Hyundai, SAIPA, Renault etc. are among the most cherished passenger car companies in Iran. Unlike other major markets in Middle East and Northern Africa, Iran has passenger car manufacturing units located in the country, like the SAIPA, an automaker headquartered in Tehran, capital of Iran. Such factors are expected to propel the country’s sales for upcoming five years. Saudi Arabia, on the other hand, ranked second in the region in terms of used car units sold. According to the demographic survey conducted by the General Authority of Statistics, most Saudi families own at least two cars (~92% have at least one car and >56% have more than one car). With growing concerns of nuclear family for investments on new car, consumers are now going after pre-owned vehicles for personal use.

MENA Used Car Market on the basis of Vehicle Type is segmented into Small Cars, Mid Cars and Luxury Cars. Most of the used car demand comes from mid size cars, non-compact Sedans and sports utility vehicles manufactured by companies like Toyota, Nissan, Mitsubishi, Hyundai, etc. Based on End Use, the MENA Used Car Market is segmented into Institutional and Individual sales. Used Cars which are owned by Institutions like cab services, offices, etc. come under Institutional segment, whereas individual segment refers to the car sold for personal use to an individual.

COVID-19 has largely affected the economies of the Middle Eastern and North African countries. Walk-ins in the car showrooms decreased and imports were halted for a certain period of time. With negative impacts on employment, consumers started contracting their spending in a lot of countries. This resulted used car market to witness a decline in the sales for the year 2020 in MENA countries.

The used car market is scattered in MENA region when comes to market competition. Abdul Latif Jameel IPR Company Limited is an authorized Toyota dealer in Saudi Arabia. Since consumers mostly prefer Toyota for new as well as used cars in most of the countries in MENA. Therefore, Abdul Latif Jameel IPR Company Limited with its widespread network of used car showrooms is the leader in MENA Used Car Market. It is followed by companies like Kayishha (SellAnyCar), YallaMotor, Al Futtaim Automotive Group LLC, Bama, CarSwitch, DubiCars, Copart Inc., etc.

Years considered for this report:

Historical Period: 2016-2019

Base Year: 2020

Estimated Year: 2021E

Forecast Period: 2022F-2026F

Objective of the Study:

·         To analyze historical growth in market size of MENA Used Car Market, in terms of value and volume from 2016-2020.

·         To estimate and forecast the market size of the MENA Used Car Market, in terms of value and volume from 2021-2026.

·         To classify and forecast the MENA Used Car Market based on Vehicle Type, Fuel Type, End Use, By Country and By Company.

·         To identify drivers and challenges for the MENA Used Car Market.

·         To examine competitive developments such as expansions, mergers & acquisitions, etc., in MENA Used Car Market. 

·         To identify and analyze the profile of leading players involved in the the MENA Used Car Market.

 


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TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of used car dealers and distributors present across the MENA 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 analysed product offerings, application, distribution channel and regional presence of all tractor manufacturers across MENA region.

TechSci Research calculated the market size of MENA Used 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. TechSci Research also studied various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports.

Key Target Audience:

·         Used car suppliers/ dealers, finance companies and other stakeholders

·         Government bodies such as regulating authorities and policy makers

·         Organizations, forums and alliances related to MENA Used Car Market

·         Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as used car distributors and dealers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, MENA Used Car Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         MENA Used Car Market, By Vehicle Type:

Ø  Small Cars

Ø  Mid Cars

Ø  Luxury Cars

·         MENA Used Car Market, By End Use:

Ø  Institutional

Ø  Individual

·         MENA Used Car Market, By Fuel Type:

Ø  Petrol/Gasoline

Ø  Diesel

Ø  Others

·         MENA Used Car Market, By Country:

Ø  Iran

Ø  United Arab Emirates

Ø  Saudi Arabia

Ø  Egypt

Ø  Bahrain

Ø  Lebanon

Ø  Tunisia

Ø  Kuwait

Ø  Jordan

Ø  Morocco

Ø  Qatar

Ø  Oman

Ø  Rest of MENA

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in MENA Used 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 ten).

Table of content

1.     Product Overview

2.     Research Methodology

3.     Executive Summary

4.     Voice of Customer

        4.1.        Factors Influencing Purchase Decision

        4.2.        Influencer of Purchase

        4.3.        Brand Switching Attributes

        4.4.        Brand Satisfaction Level

5.     MENA Used Car Market Outlook, 2016-2026F

        5.1.        Market Size & Forecast

                      5.1.1.       By Value & Volume

        5.2.        Market Share & Forecast

                      5.2.1.       By Vehicle Type (Small Cars, Mid Cars and Luxury Cars)

                      5.2.2.       By End Use (Institutional Vs Individual)

                      5.2.3.       By Fuel Type (Petrol/Gasoline, Diesel and Others)

                      5.2.4.       By Company (2020)

                      5.2.5.       By Country (Iran, Saudi Arabia, United Arab Emirates, Egypt, Morocco, Kuwait, Oman, Qatar, Tunisia, Bahrain, Lebanon, Jordan, and Rest of MENA)

        5.3.        Product Market Map (By Vehicle Type, By Fuel Type and By Country)

6.     Iran Used Car Market Outlook, 2016-2026F

        6.1.        Market Size & Forecast

                      6.1.1.       By Value & Volume

        6.2.        Market Share & Forecast

                      6.2.1.       By Vehicle Type

                      6.2.2.       By End Use

                      6.2.3.       By Fuel Type

7.     Saudi Arabia Used Car Market Outlook, 2016-2026F

        7.1.        Market Size & Forecast

                      7.1.1.       By Value & Volume

        7.2.        Market Share & Forecast

                      7.2.1.       By Vehicle Type

                      7.2.2.       By End Use

                      7.2.3.       By Fuel Type

8.     United Arab Emirates Used Car Market Outlook, 2016-2026F

        8.1.        Market Size & Forecast

                      8.1.1.       By Value & Volume

        8.2.        Market Share & Forecast

                      8.2.1.       By Vehicle Type

                      8.2.2.       By End Use

                      8.2.3.       By Fuel Type

9.     Egypt Used Car Market Outlook, 2016-2026F

        9.1.        Market Size & Forecast

                      9.1.1.       By Value & Volume

        9.2.        Market Share & Forecast

                      9.2.1.       By Vehicle Type

                      9.2.2.       By End Use

                      9.2.3.       By Fuel Type

10.   Morocco Used Car Market Outlook, 2016-2026F

        10.1.      Market Size & Forecast

                      10.1.1.     By Value & Volume

        10.2.      Market Share & Forecast

                      10.2.1.     By Vehicle Type

                      10.2.2.     By End Use

                      10.2.3.     By Fuel Type

11.   Kuwait Used Car Market Outlook, 2016-2026F

        11.1.      Market Size & Forecast

                      11.1.1.     By Value & Volume

        11.2.      Market Share & Forecast

                      11.2.1.     By Vehicle Type

                      11.2.2.     By End Use

                      11.2.3.     By Fuel Type

12.   Oman Used Car Market Outlook, 2016-2026F

        12.1.      Market Size & Forecast

                      12.1.1.     By Value & Volume

        12.2.      Market Share & Forecast

                      12.2.1.     By Vehicle Type

                      12.2.2.     By End Use

                      12.2.3.     By Fuel Type

13.   Qatar Used Car Market Outlook, 2016-2026F

        13.1.      Market Size & Forecast

                      13.1.1.     By Value & Volume

        13.2.      Market Share & Forecast

                      13.2.1.     By Vehicle Type

                      13.2.2.     By End Use

                      13.2.3.     By Fuel Type

14.   Tunisia Used Car Market Outlook, 2016-2026F

        14.1.      Market Size & Forecast

                      14.1.1.     By Value & Volume

        14.2.      Market Share & Forecast

                      14.2.1.     By Vehicle Type

                      14.2.2.     By End Use

                      14.2.3.     By Fuel Type

15.   Bahrain Used Car Market Outlook, 2016-2026F

        15.1.      Market Size & Forecast

                      15.1.1.     By Value & Volume

        15.2.      Market Share & Forecast

                      15.2.1.     By Vehicle Type

                      15.2.2.     By End Use

                      15.2.3.     By Fuel Type

16.   Lebanon Used Car Market Outlook, 2016-2026F

        16.1.      Market Size & Forecast

                      16.1.1.     By Value & Volume

        16.2.      Market Share & Forecast

                      16.2.1.     By Vehicle Type

                      16.2.2.     By End Use

                      16.2.3.     By Fuel Type

17.   Jordan Used Car Market Outlook, 2016-2026F

        17.1.      Market Size & Forecast

                      17.1.1.     By Value & Volume

        17.2.      Market Share & Forecast

                      17.2.1.     By Vehicle Type

                      17.2.2.     By End Use

                      17.2.3.     By Fuel Type

18.   Market Dynamics

        18.1.      Drivers   

        18.2.      Challenges

19.   Impact of COVID-19 on MENA Used Car Market

20.   Market Trends and Developments

21.   Competitive Landscape

        21.1.      Abdul Latif Jameel IPR Company Limited

        21.2.      United Motors Company

        21.3.      Bavaria Motors

        21.4.      Kayishha (SellAnyCar)

        22.5.      CarSwitch

        22.6.      Dubicars International FZ-LLC

        22.7.      YallaMotor

        22.8.      Copart Inc.

        22.9.      Al Futtaim Automotive Group LLC

        22.10.    Bama     

22.   Strategic Recommendations

23.   About Us & Disclaimer

Figures and Tables

Figure 1:   MENA Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 2:   MENA Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 3:   MENA Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 4:   MENA Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 5:   MENA Used Car Market Share, By Company, By Volume, 2020

Figure 6:   MENA Used Car Market Share, By Country, By Volume, 2016-2026F

Figure 7:   MENA Used Car Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 8:   MENA Used Car Market Map, By Fuel Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 9:   MENA Used Car Market Map, By Country, Market Size (Thousand Units) & Growth Rate (%)

Figure 10: Iran Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 11: Iran Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 12: Iran Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 13: Iran New Passenger Car Sales (Thousand Units), 2015-2019

Figure 14: Iran Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 15: Saudi Arabia Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 16: Saudi Arabia Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 17: Saudi Arabia Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 18: Saudi Arabia New Passenger Car Sales (Thousand Units), 2015-201

Figure 19: Saudi Arabia Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 20: United Arab Emirates Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 21: United Arab Emirates Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 22: United Arab Emirates Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 23: United Arab Emirates New Passenger Car Sales (Thousand Units), 2015-2019

Figure 24: United Arab Emirates Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 25: Egypt Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 26: Egypt Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 27: Egypt Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 28: Egypt New Passenger Car Sales (Thousand Units), 2015-2019

Figure 29: Egypt Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 30: Morocco Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 31: Morocco Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 32: Morocco Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 33: Morocco New Passenger Car Sales (Thousand Units), 2015-2019

Figure 34: Morocco Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 35: Kuwait Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 36: Kuwait Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 37: Kuwait Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 38: Kuwait New Passenger Car Sales (Thousand Units), 2015-2019

Figure 39: Kuwait Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 40: Oman Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 41: Oman Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 42: Oman Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 43: Oman New Passenger Car Sales (Thousand Units), 2015-2019

Figure 44: Oman Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 45: Qatar Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 46: Qatar Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 47: Qatar Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 48: Qatar New Passenger Car Sales (Thousand Units), 2015-2019

Figure 49: Qatar Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 50: Tunisia Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 51: Tunisia Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 52: Tunisia Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 53: Tunisia New Passenger Car Sales (Thousand Units), 2015-2019

Figure 54: Tunisia Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 55: Bahrain Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 56: Bahrain Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 57: Bahrain Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 58: Bahrain New Passenger Car Sales (Thousand Units), 2015-2019

Figure 59: Bahrain Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 60: Lebanon Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 61: Lebanon Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 62: Lebanon Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 63: Lebanon New Passenger Car Sales (Thousand Units), 2015-2019

Figure 64: Lebanon Used Car Market Share, By End Use, By Volume, 2016-2026F

Figure 65: Jordan Used Car Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F

Figure 66: Jordan Used Car Market Share, By Vehicle Type, By Volume, 2016-2026F

Figure 67: Jordan Used Car Market Share, By Fuel Type, By Volume, 2016-2026F

Figure 68: Jordan New Passenger Car Sales (Thousand Units), 2015-2019

Figure 69: Jordan Used Car Market Share, By End Use, By Volume, 2016-2026F

Frequently asked questions

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Iran is the most used car demand generating country. The country is expected to withstand a robust growth with a CAGR of 1.22% through 2021E-2026F.

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In 2020, most of the market is being captured by the individual buyers with a massive share of around 88.08% in terms of volume. A lot of executive employees in these countries are non-native, and hence require personal vehicle(s) for transportation owing to the limited public transportation facilities. Such consumers prefer used cars rather than a new car, owing to the personal economic factors and shorter ownership tenure and hence contributing to the dominant used car segment of the market.

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In 2020, the MENA used car market registered 10.91% degrowth, as countries in the region underwent lockdown in the second and third quarter of 2020 as a measure to curb the spread of COVID-19. The lockdown resulted in the temporary closing down of all the distributor outlets, resulting in loss of revenues from used car sales in the MENA region. As markets have started to open from mid-2020 onwards, the sales of used cars are growing at a brisk rate and as a result, the MENA Used Car Market revenue recovery is anticipated in 2021.

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With increasing preference for used luxury cars in the region, the average selling price per unit car is increasing year on year. Moreover, with increasing consumer spending, the value market of this country in 2021-2026 period is susceptible to grow at a CAGR of around 6.43%.

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Srishti Verma

Business Consultant
Press Release

MENA Used Car Market to Register Growth with a CAGR of 6.00% until 2026

Jul, 2021

Growing preference for luxury cars as well as need for personal transportation coupled with the growth of middle income group population is expected to boost the growth of used car sales in MENA coun

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