Jul 20, 2021 SOURCE: BusinessWire

Saudi Arabia Passenger Car Markets, 2016-2020 & 2021-2026: Focus on Hatchback, Sedan, MPV, Pickup & SUVs - ResearchAndMarkets.com

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

The Saudi Arabian Passenger Car Market is projected to grow at a CAGR of over 3.82% by volume during the forecast period and is anticipated to reach USD16.70 billion by 2026.

The Saudi Arabian Passenger Car Market is driven by expanding road infrastructure and increasing per capita spending of the people in the region. In 2017, the ban on women driving was lifted in the Kingdom of Saudi Arabia and since then there has been an increase in women drivers, hence the demand is expected to increase from this segment and is susceptible to propel the market in the forecast period as well.

The Saudi Arabian Passenger Car Market is divided based on vehicle type, fuel type, transmission type, engine capacity and company. Based on vehicle type, the market can be classified into hatchback, sedan, pick-up cars, multi-purpose vehicles and sports utility vehicles. In terms of vehicle type, the sedan car segment accounts for the largest share but due to increasing traffic congestion and shortage of parking space by daily commuters, this segment is expected to lose market share.

Based on fuel type, the market is majorly contributed by gasoline driven passenger cars due to comparatively low gasoline prices and this trend is susceptible to withstand in the forecast period as well. In the sedan segment, cars with engine capacity up to 2000cc are expected to hold majority shares, but due to the increasing demand for cars with higher engine capacities, cars with engine capacity below 2000cc are anticipated to register a slothful growth. Cars with automatic transmission account for the majority share in the Saudi Arabian Passenger Car Market on account of ease of driving with stringent traffic rules across the region.

Toyota Motor Corporation, Nissan Motor Company, Ltd., Hyundai Motor Company, Mitsubishi Motors Corporation, Kia Corporation, etc., are among some of the leading players operating in the Saudi Arabian Passenger Car Market.

Apart from these companies, other passenger car manufacturers are also increasing their marketing activities and enriching their product portfolio in the region to increase their customer outreach. Major companies in the Saudi Arabian Passenger Car Market industry are also focusing on increasing their dealer and distributor networks to grab a larger share in the region's passenger car market.

Objective of the Study:

To analyze the historical growth in the market size of the Saudi Arabian Passenger Car Market from 2016 to 2020.
To estimate and forecast the market size of the Saudi Arabian Passenger Car Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Saudi Arabian Passenger Car Market -based vehicle type, fuel type, transmission type, engine capacity and company.
To identify dominant region or segment in the Saudi Arabian Passenger Car Market.
To identify drivers and challenges for the Saudi Arabian Passenger Car Market.
To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Saudi Arabian Passenger Car Market.
To conduct pricing analysis for the Saudi Arabian Passenger Car Market.
To identify and analyze the profile of leading players operating in the Saudi Arabian Passenger Car Market.
To identify key sustainable strategies adopted by the market players in the Saudi Arabian Passenger Car Market.

Companies Mentioned