The UAE Luxury Car Market is Expected to Register Growth at a Significant Rate During the Forecast Period
The UAE luxury car market is expected to register growth at a significant rate during the forecast period. The market growth can be attributed to the adoption of the latest technologies in luxury cars and enhancements in product standards to cater to the country's affluent population. Many high-end brands such as BMW, Mercedes-Benz, Lexus, etc., are expanding their factories and introducing new varieties to accommodate the evolving demands of the consumers. Besides, the rising adoption of electric luxury cars owing to the increasing concerns related to the environment and enhanced awareness towards sustainability are driving the growth of the UAE luxury car market during the forecast period. Additionally, rapid advances in several fields such as artificial intelligence and machine learning have led to new developments in autonomous vehicles, which is likely to augment the growth of the luxury car market.
Moreover, rapid development of various features such as personal voice assistance, autonomous driving, retina recognition, etc., and stringent measures introduced by the government to reduce emission levels are some of the factors augmenting the growth of this market. Changing consumer preferences from sedans to SUVs and expanding the product portfolio by the market players are expected to create lucrative growth opportunities for the UAE luxury car market in the next five years. Increased demand for a comfortable riding experience and infotainment services are projected to bolster the UAE luxury car market growth in the next five years. The rising popularity of used luxury cars as they are affordable and readily available is likely to fuel the growth of the UAE luxury car market. Continuous advancements and high investments by market players to launch advanced versions of luxury cars into the market are some of the factors propelling the demand for the UAE luxury car market.
The UAE luxury car market is segmented into vehicle type, propulsion, price segment, regional distribution, and competitive landscape. Based on vehicle type, the market is divided into hatchback, sedan, and SUV/MPV. The sedan segment is expected to dominate the UAE luxury car market owing to the high sales and production of luxury sedans. Based on propulsion, the market is bifurcated into ICE and electric. The ICE segment is anticipated to hold the largest share in the UAE luxury car market due to the rising demand and sales of these luxury vehicles.
Leading players in the UAE luxury car market are Rolls-Royce Motor Cars Limited, BMW AG, Koenigsegg Automotive AB, Automobili Lamborghini S.p.A., W Motors, Daimler AG, Volkswagen AG, Aston Martin Lagonda Limited, Ferrari S.p.A., Automobiles Ettore Bugatti, etc.
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022E
- Forecast Period: 2023F-2027F
Objective of the Study:
- To analyze and forecast market size of the UAE luxury car market, in terms of value and volume.
- To define, classify and forecast the UAE luxury car market on the basis of vehicle type, propulsion, price segment, company and regional distribution.
- To identify tailwinds and headwinds for the UAE luxury car market.
- To examine competitive developments such as expansions, new product launches, supply contracts, and mergers & acquisitions in the UAE luxury car market.
- To evaluate competitor pricing, average market selling prices and trends in the UAE luxury car market.
- To strategically profile the leading players, which are involved in the supply of luxury cars.
The publisher performed primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of luxury car manufacturers and suppliers in UAE. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher was able to include manufacturers that could not be identified due to the limitations of secondary research. The publisher analysed product offerings and end user of all major manufacturers across the country.
The publisher calculated the market size for the UAE luxury car market using a bottom-up approach. The publisher sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company annual reports, white papers, investor presentations and financial reports were also used.
Key Target Audience:
- Luxury car manufacturers
- Research organizations and consulting companies
- Associations, organizations, and alliances related to luxury car manufacturing
- Government bodies such as regulating authorities and policy makers
- Industry associations
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as luxury car manufacturers, distributors, dealers and policy makers, which market segments should be targeted over the coming years (next five years) in order to strategize investments and capitalize on growth of the market.
In this report, UAE luxury car market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
UAE Luxury Car Market, By Vehicle Type:
UAE Luxury Car Market, By Propulsion:
UAE Luxury Car Market, By Price Segment:
- Entry Level
UAE Luxury Car Market, By Region:
- Abu Dhabi
- Rest of UAE
Company Profiles: Detailed analysis of the major companies present in UAE luxury car market.
With the given market data, the publisher offers customizations according to a company’s specific needs.
This product will be delivered within 1-3 business days.
Table of Contents
5.2. Aided Brand Recall and Unaided Brand Recall
5.3. Brand Satisfaction Level
6.1.1. By Value and Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Hatchback, Sedan, SUV/MPV)
6.2.2. By Propulsion (ICE and Electric)
6.2.3. By Price Segment (Entry Level, Mid-Range, and Premium-Range)
6.2.4. By Region
6.2.5. By Company (2021)
6.3. Product Market Map (By Vehicle Type, By Region)
7.1.1. By Value and Volume
7.2. Market Share & Forecast
7.2.1. By Propulsion
7.2.2. By Price Segment
8.1.1. By Value and Volume
8.2. Market Share & Forecast
8.2.1. By Propulsion
8.2.2. By Price Segment
9.1.1. By Value and Volume
9.2. Market Share & Forecast
9.2.1. By Propulsion
9.2.2. By Price Segment
14.1.1. Rolls-Royce Motor Cars Limited
14.1.2. BMW AG
14.1.3. Koenigsegg Automotive AB
14.1.4. Automobili Lamborghini S.p.A.
14.1.5. W Motors
14.1.6. Daimler AG
14.1.7. Volkswagen AG
14.1.8. Aston Martin Lagonda Limited
14.1.9. Ferrari S.p.A.
14.1.10. Automobiles Ettore Bugatti
A selection of companies mentioned in this report includes:
- Rolls-Royce Motor Cars Limited
- BMW AG
- Koenigsegg Automotive AB
- Automobili Lamborghini S.p.A.
- W Motors
- Daimler AG
- Volkswagen AG
- Aston Martin Lagonda Limited
- Ferrari S.p.A.
- Automobiles Ettore Bugatti