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The automotive market share in GCC is expected to increase by 346.37 thousand units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.74%.
This automotive market in the GCC research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the automotive market in GCC segmentations by type (passenger cars and commercial vehicles) and geography (Saudi Arabia, UAE, Kuwait, and Others). The automotive market in GCC report also offers information on several market vendors, including BMW AG, Daimler AG, General Motors Co., Hyundai Motor Co., Kia Motors Corp., Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Stellantis NV, Toyota Motor Corp., and Volkswagen AG among others.
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The growing investment in smart cities is notably driving the automotive market growth in GCC, although factors such as the shutdown of manufacturing and production units may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive industry in GCC. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Market Driver in GCC
Key Automotive Market Trend in GCC
Key Automotive Market Challenge in GCC
This automotive market in GCC analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the automotive market in GCC as a part of the global automotive market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive market in GCC during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive market in GCC encompasses successful business strategies deployed by the key vendors. The automotive market in GCC is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive market in GCC forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive market in GCC, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global automotive market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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The automotive market share growth in GCC by the passenger cars segment will be significant during the forecast period. The significant increase in the demand and sale of passenger cars will drive the market growth through this segment. For instance, in 2019, 2.3 million passenger cars were sold in the Middle East, which is expected to increase to over 3 million cars during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive market size in GCC and actionable market insights on post COVID-19 impact on each segment.
Automotive Market Scope in GCC |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.74% |
Market growth 2022-2026 |
346.37 th units |
Market structure |
Fragmented |
YoY growth (%) |
5.91 |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BMW AG, Daimler AG, General Motors Co., Hyundai Motor Co., Kia Motors Corp., Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Stellantis NV, Toyota Motor Corp., and Volkswagen AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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