Saudi Arabia Used Car Market, By Vehicle Type (Small Cars, Mid-Size Cars & Luxury Cars) By End Use (Institutional Vs Individual) By Fuel Type (Petrol, Diesel & CNG), By Region, Company Forecast & Opportunities, 2027
Saudi Arabia used car market is projected to register robust growth during the forecast period.The growth can be attributed to the increasing adoption of used cars for performing daily activities and traveling long distances for adventure and relaxation purposes.
Reliable and add-on service/quality has changed the perception of consumers towards used cars, which is fueling the growth of Saudi Arabia used car market.Enhanced support from OEM in certification and marketing programs and improved access to high-quality contracts are further boosting demand for used cars in Saudi Arabia.
There has been a growing demand for vehicle subscription services that allow consumers to use a vehicle for a limited period by paying monthly fees, contributing to the growth of used cars.Moreover, rapid technological advancements in cars are allowing customers to sell or exchange their cars within a short period, which is expected to drive the growth of the Saudi Arabia used car market.
The incorporation of advanced features in cars such as power steering system, anti-lock braking system, and others add to the price of the vehicle, which poses a challenge of affordability for people who desire to own a car. Thus, used cars serve as a great alternative for low-income people. Many market players are enhancing the online car buying experience by introducing technologies such as 360 degrees, 3D view of interiors, and exteriors to enhance the customer’s experience and help buyers make smart decisions, which further contributes to the growth of Saudi Arabia used car market. Moreover, advancing infrastructure, including road construction, has led to the prevailing trend of car ownership, which is also seen as a status symbol, and this has led to the increased adoption of used cars in Saudi Arabia.
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 and CNG.
The CNG segment is anticipated to dominate Saudi Arabia used car market due to enhanced awareness among consumers regarding the use of conventional fuels and clean energy. Besides, CNG is an affordable alternative to petrol or diesel, saving a lot of money for drivers. Kayishha, Yallamotor, SaudiSale, Abdul Latif Jameel Motors, Abi Sayara, Olx Saudi Arabia (Dubizzle), Carmudi.com, Copart Inc. are major players in Saudi Arabia used car market. Major companies are introducing new services and increasing R&D initiatives towards new product development to achieve a significant market share in Saudi Arabia used car market.
• To analyze and estimate the market size of Saudi Arabia used car market from 2017 to 2021. • To estimate and forecast the market size of Saudi Arabia used car market from 2022 to 2027 and growth rate until 2027. • 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. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe. The analyst 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. The analyst 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 the analyst.
Key Target Audience:
• Used car 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 manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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: o Small Cars o Mid-Size Cars o Luxury Cars • Saudi Arabia Used Car Market, By End Use: o Institutional o Individual • Saudi Arabia Used Car Market, By Fuel Type: o Petrol o Diesel o CNG • Saudi Arabia Used Car Market, By Region: o Western Region o Northern & Central Region o Eastern Region o Southern Region
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia used car market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
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63 pages •
By Euromonitor International
• Nov 2021
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