Saudi Arabia used car market is expected
to grow at a significant CAGR for the forecast period. Residents of Saudi
Arabia prefer to travel in their cars to perform their daily activities and to
travel long distances along with the desert safari for relaxation purposes.
Amidst the pandemic and lockdown restrictions, the Saudi Traffic Department
introduced the initiative of online transfer of vehicle ownership in order to
surge the sale of automobiles without requiring the need for periodic technical
inspection, which is the major driver for the forecast period. Ease and
convenience in completing the whole procedure of buying a used car for both
buyers and sellers are expected to boost the growth of Saudi Arabia used car
market. Market players are implementing the latest technologies such as 360
degrees 3D view of the interiors and exteriors to enhance the consumer
experience and provide more insightful data to make informed decisions before
buying used cars. Adoption of emerging technology such as artificial technology
gathers customer data and aims to indulge market players in making appropriate
marketing decisions to increase the sale of used cars. Ongoing infrastructural
activities, including road construction and the prevailing trend of car
ownership among consumers, are expected to accelerate market growth.
Saudi Arabia used car market is
segmented based on vehicle type, regional distribution, and company. Based on
fuel type, the market can be divided into petrol, diesel & CNG. The CNG
segment is expected to witness the fastest incremental growth for the forecast
period, 2024-2028. Rising awareness among the consumers regarding the harmful
effects of conventional fuels over non-conventional fuels as CNG is a clean
fuel compared to its counterparts. CNG is cheaper than traditional fuels, so it
saves a lot of money.
The major players operating on the used
car market are Kayishha, Yallamotor, SaudiSale, Abdul
Latif Jameel Motors, Abi Sayara, Olx Saudi Arabia (Dubizzle), Carmudi.com,
Copart Inc., and others. Major companies are developing advanced technologies
and launching new services to stay competitive in the market. Other competitive
strategies include mergers & acquisitions and new service developments.
Objective of the Study:
- To analyze and estimate the market size of Saudi Arabia used car market
from 2018 to 2021.
- To estimate and forecast the market size of Saudi Arabia used car market
from 2022 to 2028 and growth rate until 2028.
- To classify and forecast Saudi Arabia used car market based on vehicle
type, end use, fuel type, regional distribution, and company.
- To identify dominant region or segment in the Saudi Arabia used car
market.
- To identify drivers and challenges for Saudi Arabia used car market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in Saudi Arabia used car market.
- To identify and analyze the profile of leading players operating in
Saudi Arabia used car market.
- To identify key sustainable strategies adopted by market players in
Saudi Arabia used car market.
TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of service providers across the globe. 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 service providers which could not be
identified due to the limitations of secondary research. TechSci Research
analyzed the service providers, distribution channels and presence of all major
players across the globe.
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TechSci
Research calculated the market size of Saudi Arabia used car market using a bottom-up approach, wherein 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.
Key Target Audience:
- Used car service provider companies
- Market research and consulting firms
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums, and alliances related to
used car market
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as service
providers, suppliers and partners, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
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Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historical Data
|
2018 –
2021
|
|
Estimated Year
|
2023
|
|
Forecast Period
|
2024
– 2028
|
|
Quantitative Units
|
Revenue in USD Million, Volume in Units and CAGR for 2018-2022
and 2023E-2028F
|
|
Report coverage
|
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments covered
|
·
Vehicle Type
·
End Use
·
Fuel Type
|
|
Regional scope
|
Western
Region, Northern And Central Region, Eastern Region, Southern Region
|
|
Key companies profiled
|
Kayishha, Yallamotor, SaudiSale, Abdul Latif Jameel Motors,
Abi Sayara, Olx Saudi Arabia (Dubizzle), Carmudi.com, Copart Inc
|
|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, Saudi Arabia used car market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
- Saudi Arabia Used Car Market, By Vehicle Type:
- Small
Cars
- Mid-Size
Cars
- Luxury
Cars
- Saudi Arabia Used Car Market, By End Use:
- Saudi Arabia Used Car Market, By Fuel Type:
- Saudi Arabia Used Car Market, By Region:
- Western
Region
- Northern
& Central Region
- Eastern
Region
- Southern
Region
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in Saudi Arabia 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 five).
Saudi Arabia used car market is an upcoming report to be released soon.
If you wish an early delivery of this report or want to confirm the date of
release, please contact us at [email protected]