Nov 11, 2019 SOURCE: BusinessWire

Saudi Arabia Passenger Car Market Analysis & Outlook, 2014-2024 - ResearchAndMarkets.com

The "Saudi Arabia Passenger Car Market By Vehicle Type (Hatchback, Sedan, MPV, Pickup and SUV), By Fuel Type (Petrol, Diesel and Others), By Transmission Type (MT and AT), Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.

The Saudi Arabian passenger car market was valued at over $11 billion in 2018 and is projected to grow at a CAGR of around 16% to surpass $28 billion by 2024, on account of increasing per capita income and developing infrastructure of the country.

Upliftment of ban from women driving along with increasing number of CKD plants are further driving growth of the market in the country. Moreover, Saudi Arabia is the one of the largest auto and auto parts market in the Middle East, accounting for over 30 percent of all vehicles sold in the region. Also, the Saudi government is looking to develop domestic automotive industries and is encouraging global vehicle manufacturers to establish local operations, which would further drive the Saudi Arabian passenger car market in the coming years.

The Saudi Arabian passenger car market can be segmented based on vehicle type, fuel type, transmission type and region.

In terms of passenger car type, the market can be classified into hatchback, sedan, MPV, pickup and SUV. Sedan cars dominated the Saudi Arabian passenger car market in 2018, with the market share of over 55%, and the segment is expected to continue its dominance during the forecast period as well. The leading position of sedan segment is backed by the wide range of products in this segment, besides being comparatively more spacious and easier to maintain. SUVs segment held the second largest market share in 2018, primarily on account of SUV's powerful engine, higher passenger capacity and suitability for off-road driving.

List of major players operating in the Saudi Arabian passenger car market include 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, etc. Major companies are adopting strategies such as expansion in new locations, mergers & acquisitions and product developments. With rising focus of these leading players on sales and marketing activities, the passenger car industry in Saudi Arabia is anticipated to witness intensifying competition over the next five years.

Years Considered

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024

Objectives of the Study

To analyze and forecast the market size of the Saudi Arabian passenger car market.
To classify and forecast the Saudi Arabian passenger car market based on vehicle type, fuel type, transmission type and regional distribution.
To identify drivers and challenges for the Saudi Arabian passenger car market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabian passenger car market.
To conduct the pricing analysis for the Saudi Arabian passenger car market.
To identify and analyze the profile of leading players involved in the Saudi Arabian passenger car market.

Key Topics Covered

1. Product Overview

2. Research Methodology

3. Analyst View

4. Voice of Customer

4.1. Factors Influencing Purchase Decision

4.2. Influencer of Purchase

4.3. Aided Brand Recall

4.4. Unaided Brand Recall

4.5. Brand Switching Attributes

4.6. Brand Satisfaction Level

5. Saudi Arabia Passenger Car Market Outlook