UAE used car market is expected to grow
at a significant rate during the forecast period. Increase in preference for
vehicle ownership due to demand for higher convenience and comfort while
traveling is the major driver for the forecast period. The rise in prices of
new cars and the inability of consumers to invest such huge amounts for buying
new cars is contributing significantly to boost the market growth.
Technological advancement in the market and the quality and reliable service
provided by the key players due to high competition among them is expected to
propel the market growth. Government initiatives to shift the dependence of the
economy from oil reserves to other infrastructural activities such as the
development of roads are expected to directly influence the demand for used
cars in the United Arab Emirates. Therefore, improving economic conditions
coupled with rising demand for cars is expected to fuel the market growth.
Market players are entering the market due to the huge demand for vehicle ownership
of cars and the affordability of used cars is expected to drive the demand for
the next five years. Original equipment manufacturers are indulging themselves
in collaborations with authorized dealers to ensure hassle-free service to
obtain certificates and the adoption of attractive marketing strategies by the
major players is expected to accelerate the demand for used cars in the United
Arab Emirates.
UAE used car market is segmented into
vehicle type, end-use, fuel 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 growth for the forecast period, 2022-2026. CNG
is a clean fuel and due to high awareness among the consumers regarding the
harmful effects of using conventional fuels is expected to boost the demand for
this segment.
The major players operating in the UAE used
car market are Copart Inc., Yallamotor, SellAnyCar, CarSwitch,
DubiCars, Dubizzle.com, Al Futtaim Automall, Opensooq.com, among 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.
Years
considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
- To analyze the historical growth of the market size of UAE used
car market from 2016 to 2019.
- To estimate and forecast the market size of UAE used car market from
2020 to 2026 and growth rate until 2026.
- To classify and forecast UAE used car market based on vehicle type,
end use, fuel type, regional distribution, and company.
- To identify dominant region or segment in the UAE used car.
- To identify drivers and challenges for UAE used car market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in UAE used car market.
- To identify and analyze the profile of leading players operating in
UAE used car market.
- To identify key sustainable strategies adopted by market players in
UAE used car market.
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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 who 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.
TechSci
Research calculated the market size of UAE 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.
Report Scope:
In this report, UAE used car market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
·
UAE Used Car Market, By Vehicle Type:
- Small
Cars
- Mid-Size
Cars
- Luxury
Cars
- UAE Used Car Market, By End Use:
- UAE Used Car Market, By Fuel Type:
- UAE Used Car Market, By Region:
- Dubai
- Abu
Dhabi
- Sharjah
- Rest of
UAE
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in UAE 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).
UAE 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]