Wilmington, Delaware, Oct. 05, 2023 (GLOBE NEWSWIRE) -- UAE Used Cars Market was valued at US$ 19.2 billion in 2023 and is expected to grow at a significant CAGR of over 10.5% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Urbanization and infrastructure upgrades, such as road extensions and improvements, increase the appeal of owning an automobile. The simplicity of personal transportation fuels the demand for old automobiles even more.
Financing alternatives for used automobiles are available through UAE financial institutions, making it easier for purchasers to finance their selected vehicles. More purchasers are drawn to the used automobile market by flexible financing options.
- According to a deep-dive market assessment by RationalStat, the UAE Used Cars market has been analyzed on the basis of market segments, including vehicle type, fuel type, sales channel, category, end user, and geography/regions (including Abu Dhabi, Dubai, Sharjah, Ajman, Umm AI-Quwain, Fujairah, Ras Al Khaimah). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the UAE Used Cars market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the UAE Used Cars market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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UAE Used Cars Market: Segmental and Market Share Analysis
- On the basis of vehicle type, SUVs segment is expected to dominate the UAE used cars market due to their versatility, family-friendly features, and wide appeal.
- On the basis of category, the domestic sales segment dominated the market and is expected to maintain its dominance during the forecast period.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 19.2 billion |
| Market Size Forecast | US$ 38.7 billion |
| Growth Rate | 10.5% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the UAE used cars market include,
- In January 2020, Dubicars collaborated with AlgoDriven, a technology solutions provider for the automotive industry that offers accurate and real-time data, to analyze the three million monthly searches and thousands of transactions on its website.
- In April 2021, Cars24, a leading online marketplace in India, expanded its operations to the UAE in order to meet the rising demand for pre-owned automobiles, thereby generating massive revenue in the coming year.
- In February 2022, Cars24 a well-known online platform released AI-enabled software in the UAE that allows car enthusiasts to buy and sell automobiles within 30 minutes of downloading the software.
Some of the prominent players and suppliers operating and contributing significantly to the UAE Used Cars market growth include Al-Futtaim, Al Naboodah Group, The Elite Cars LLC, Car Switch Dubai, dubizzle, YallaMotor, Nissan (Arabian Automobiles Company), Gargash Motors and General Trading, SellAnyCar FZE, Dubicars International FZ-LLC, Cars24, Al Tayer Group, and Al Ghandi Auto Group, among others.
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RationalStat has segmented the UAE used cars market based on vehicle type, fuel type, sales channel, category, end user and region
- UAE Used Cars Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Vehicle Type
- SUV
- Sedan
- Coupe
- Others (Hatchback, Convertible, etc.)
- UAE Used Cars Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Fuel Type
- Diesel
- Petrol
- Electric
- UAE Used Cars Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Sales Channel
- B2B
- B2C
- C2C
- Online (Classified Channel)
- UAE Used Cars Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Category
- Exported
- Domestic Sales
- UAE Used Cars Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
- Individual
- Institutional
- UAE Used Cars Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- UAE Used Cars Market
- Abu Dhabi
- Dubai
- Sharjah
- Ajman
- Umm AI-Quwain
- Fujairah
- Ras AI Khaimah
- UAE Used Cars Market
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Key Questions Answered in the Used Cars Report:
- What will be the market value of the UAE Used Cars market by 2030?
- What is the market size of the UAE Used Cars market?
- What are the market drivers of the UAE Used Cars market?
- What are the key trends in the UAE Used Cars market?
- Which is the leading region in the UAE Used Cars market?
- What are the major companies operating in the UAE Used Cars market?
- What are the market shares by key segments in the UAE Used Cars market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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