Middle East Pre-Owned (Used) Luxury Car Market: Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2019-2025

Report Code : AU1119ME | Publication Date : Nov-19 | Report Format : PDF/PPT


Overview:
The Middle East pre-owned (used) luxury car is anticipated to register at a significant CAGR during the forecast period from 2019 to 2025. The Middle East is likely to be a huge market for pre-owned vehicles and possesses huge potential for used luxury cars as well. Whereas, the luxury car market penetration rate in the country is comparatively low but the key luxury car manufacturers are expected to bet on the global market’s potential. Currently, the penetration rate of pre-owned luxury cars in the country is significantly high. As pre owned luxury cars sales in the Middle East have augmented at a fast pace since the year 2012, with approximately considerable rise in sales in 2017, with Mercedes-Benz which is expected to dominate the market.

Growth Factors:
As luxury car manufacturers are anticipated to launch several models with a range of price, along with comprehensible financing proposals, hence the demand for pre-owned luxury cars in the Middle East is projected to increase in the country. In addition to this, the demand and popularity for pre-owned luxury SUVs has been increasing quickly in the country and is anticipated to maintain the growing rate in the forecast period, as they are expected offer extra comfort and space. Primary luxury car manufacturers, like BMW, Audi, and Mercedes are projected to launch new and advanced models in the country at a viable price, this on the other hand will increase the demand of used luxury car in the Middle East.

Luxury Car Rental Segment:
Luxury car rental segment is basically the use of a luxury car for a fixed phase of time at an assessed amount of money. Currently, Luxury car rental segment is in high demand and very popular as it offers mobility solutions for both leisure travelers and business. Consumers can very easily arrange a car rental in mobile phone or website. Geographically, The Middle East is the huge market player who represents around 55% of the market, which is likely to be followed by Europe, and is expected to represent considerable market shares. The Luxury Car Rental segment is extremely concentrated in the world

Segmentation:
The Middle East pre-owned (used) luxury car market can be classified into vehicle age, by cities, by type of cars, by brand, and by price range. In terms of brand, Korean as well as Japanese brands are comparatively very popular in the Middle East due to their strong brand fondness, longer life durability, consistency, and greater re-sale value of pre-owned cars. In terms of vehicle age, pre-owned luxury cars below the age range of 2-5 years is likely to account for maximum market share in the year 2018 owing to the average substitution rate of 3.8 years in the Middle East. The sale pre owned luxury cars is expected to be followed by 5 to 7 years of vehicle age because these used cars have better engine capacity, heavy body type, as well as have high re-sale value.

Regional Analysis:
The Middle East is projected to lead in the Pre-owned (used) Luxury Car market, owing to the availability of great infrastructure and high disposable incomes in the region. The increasing demand and popularity for stylish car, advanced telemetries and powerful engines at an affordable price is also anticipated to continue to boost the demand and growth for Pre-owned (used) Luxury Car market. Furthermore, luxury car parts manufacturers are likely to focus on the development and advancement of next-generation smart technologies, such as personal voice assistance, autonomous driving, and retina recognition found in luxury cars, which are also projected to boost the Pre-owned (used) Luxury Car market.

Market Covered
The Middle East Pre-Owned Luxury Car Market report provides a detailed analysis of the following market segments:

By Type of Vehicle
• SUV (Sport Utility Vehicle)
• MPV (Multi-Purpose Vehicle)
• Sedan
• Hatchback
• Coupe
• Cross Type Vehicles (CTVs)
• Convertible
• Others

Fuel Type
• Diesel
• Petrol
• Hybrid
• Electric

By Countries
• UAE
• Saudi Arabia
• Egypt
• Oman
• Kuwait
• Qatar
• Bahrain
• Others

By Vehicle Age
• 0-2 Years
• 2-4 Years
• 4-6 Years
• Above 6 Years

Kilometers Driven

By Price

By Brand
• Aston Martin
• Audi
• Bentley
• BMW
• Mercedes-Benz
• Bugatti Veyron
• Ferrari
• Lamborghini
• Lexus
• McLaren
• Porsche
• Others

What Report Provides
The report provides the detailed analysis of the following market segments:
• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market

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