DUBLIN, July 20, 2021 / PRNewswire / – The “Saudi Arabian passenger car market, by vehicle type (hatchback, sedan, minivan, pickup and SUV), by fuel type (gasoline, diesel and others), by transmission type (transmission manual and automatic transmission), The Competition Forecast and Opportunity report “has been added to ResearchAndMarkets.com offer.
The Saudi passenger car market is expected to grow at a CAGR of over 3.82% in volume during the forecast period and is expected to reach 16.70 billion USD by 2026.
The Saudi passenger car market is driven by expanding road infrastructure and increasing per capita spending by the region’s population. In 2017, the ban on driving for women was lifted in the Kingdom of Saudi Arabia and since then there is an increase in the number of female drivers, therefore, the demand is expected to increase from this segment and is also likely to propel the market during the forecast period.
The Saudi passenger car market is divided on the basis of vehicle type, fuel type, transmission type, engine displacement and company. Based on vehicle type, the market can be categorized into hatchbacks, sedans, pickups, utility vehicles, and sport utility vehicles. In terms of vehicle type, the sedan segment accounts for the largest share, but due to increasing traffic congestion and lack of parking space for daily commuters, this segment is expected to lose market share.
On the basis of fuel type, the market is mainly contributed by gasoline passenger cars due to the relatively low gasoline prices and this trend is likely to resist during the forecast period as well. In the sedan segment, cars with displacement up to 2000 cc are expected to hold majority shares, but due to the increasing demand for cars with larger displacement, cars with displacement below 2000 cc are expected to hold majority shares. register slow growth. Automatic transmission cars represent the majority share of the Saudi passenger car market due to ease of driving and strict traffic rules throughout the region.
Among the major players operating in the Saudi passenger car market are Toyota Motor Corporation, Nissan Motor Company, Ltd., Hyundai Motor Company, Mitsubishi Motors Corporation, Kia Corporation, etc.
Besides these companies, other passenger car manufacturers are also increasing their marketing activities and enriching their product portfolio in the region in order to increase their customer base. Major companies in the Saudi passenger car market sector are also focusing on expanding their dealer and distributor network to gain a greater share of the region’s passenger car market.
Goal of the study:
- To analyze the historical growth in the size of the Saudi passenger car market from 2016 to 2020.
- Estimate and forecast the market size of Saudi Arabia passenger car market from 2021 to 2026 and the growth rate to 2026.
- Classify and forecast the vehicle type, fuel type, transmission type, engine displacement, and company based on Saudi Arabia passenger car market.
- Identify the dominant region or segment of the Saudi passenger car market.
- Identify the drivers and challenges of the Saudi passenger car market.
- To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc. in the passenger car market in Saudi Arabia.
- Perform price analysis for the Saudi passenger car market.
- Identify and analyze the profile of the major players operating in the Saudi passenger car market.
- To identify the key sustainable strategies adopted by market players in the Saudi passenger car market.
- Toyota Motors Corporation
- Hyundai Motor Company
- Mazda Saudi Arabia
- Nissan Motor Co. Ltd
- General Motors Co.
- Ford Middle East
- Kia Motors Corp
- Isuzu Motors Saudi Arabia Co. Ltd.
- Volkswagen AG
- Renault Middle East
Years considered for this report:
- Historic period: 2016-2019
- Baseline year: 2020
- Estimated year: 2021
- Forecast period: 2022-2026
Scope of the report:
Saudi Arabia Passenger Car Market, By Vehicle Type:
- Multipurpose vehicle (MPV)
- Sport utility vehicle (SUV)
- Pickup cars
Saudi Arabia Passenger Car Market, By Fuel Type:
- Gasoline / gasoline
- Alternative fuels
Saudi Arabia Passenger Car Market, By Transmission Type:
- Manual transmission
- Automatic transmission
For more information on this report, visit https://www.researchandmarkets.com/r/jjvjd6
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SOURCE Research and Markets