MarketLineIC_Saudi Arabia New Cars_170922.pdf

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1、 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|1MarketLine Industry ProfileNew Cars in Saudi ArabiaJanuary 2022ReferenceReference Code:Code:0194-03580194-0358PublicationPublication Date:Date:JanuaryJanuary 20222022PrimaryPrimary NAICS:NAICS:336111336111WWW.MARKETLINE

2、.COMWWW.MARKETLINE.COMMARKETLINE.THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED New Cars in Saudi ArabiaIndustry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|21.Executive Summary1.1.Market valueThe Saudi Arabian new cars market grew by 16%i

3、n 2021 to reach a value of$9.9 billion.1.2.Market value forecastIn 2026,the Saudi Arabian new cars market is forecast to have a value of$10.9 billion,an increase of 10.1%since 2021.1.3.Market volumeThe Saudi Arabian new cars market grew by 12.3%in 2021 to reach a volume of 435.5 thousand units.1.4.M

4、arket volume forecastIn 2026,the Saudi Arabian new cars market is forecast to have a volume of 426.4 thousand units,a decrease of 2.1%since 2021.1.5.Geography segmentationSaudi Arabia accounts for 28.1%of the MEA new cars market value.1.6.Market shareToyota is the leading player in the Saudi Arabian

5、 new cars market,generating a 38.3%share of the markets volume.1.7.Market rivalryRivalry within the new cars market is intensified by the existence of large-sized companies and the high fixed costs associated with car manufacturing.However,the relatively small number of large companies in the market

6、,due to the large economies of scale required,mitigates competition.Differentiation is a fundamental aspect of competition in the new cars market,and that serves to alleviate rivalry to some extent.New Cars in Saudi ArabiaIndustry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO

7、BE PHOTOCOPIEDPage|31.8.Competitive LandscapeThe Saudi new cars market is highly consolidated,with the four leading players,Nissan,Hyundai,Mazda,and Toyota,expected to account for a combined 81.6%share of the sales volume in 2021.The leading players in this market are tapping into the growing demand

8、 for hybrid and electric vehicles,while alliances within the market are a common strategy.The COVID-19 pandemic halted production in many countries,as well as disrupting the supply chain;as such,the leading players were negatively impacted in 2020.New Cars in Saudi Arabia Industry Profiles MARKETLIN

9、E THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|4TABLE OF CONTENTS1.Executive Summary21.1.Market value.21.2.Market value forecast.21.3.Market volume.21.4.Market volume forecast.21.5.Geography segmentation.21.6.Market share.21.7.Market rivalry.21.8.Competitive Landscape.32.Marke

10、t Overview92.1.Market definition.92.2.Market analysis.93.Market Data113.1.Market value.113.2.Market volume.124.Market Segmentation134.1.Geography segmentation.135.Market Outlook145.1.Market value forecast.145.2.Market volume forecast.156.Five Forces Analysis166.1.Summary.166.2.Buyer power.176.3.Supp

11、lier power.186.4.New entrants.206.5.Threat of substitutes.22New Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|56.6.Degree of rivalry.237.Competitive Landscape257.1.Market share.257.2.Who are the leading players?.257.3.How are st

12、rategic alliances used by the leading companies?.267.4.How is new technology opening up competition?.277.5.How are leading players progressing in the hybrid and electric cars segment?.277.6.What impact is the COVID-19 pandemic having on leading players?.288.Company Profiles298.1.Nissan Motor Co.,Ltd

13、.298.2.Hyundai Motor Company.368.3.Mazda Ltd.408.4.Toyota Motor Corporation.439.Macroeconomic Indicators489.1.Country data.48Appendix50Methodology.509.2.Industry associations.519.3.Related MarketLine research.51About MarketLine.52New Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS

14、A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|6LIST OF TABLESTable 1:Saudi Arabia new cars market value:$billion,2017-21(e)11Table 2:Saudi Arabia new cars market volume:thousand units,201721(e)12Table 3:Saudi Arabia new cars market geography segmentation:$billion,2021(e)13Table 4:Saudi Arabia

15、new cars market value forecast:$billion,2021-2614Table 5:Saudi Arabia new cars market volume forecast:thousand units,20212615Table 6:Saudi Arabia new cars market share:%share,by volume,2021(e)25Table 7:Nissan Motor Co.,Ltd.:key facts29Table 8:Nissan Motor Co.,Ltd.:Annual Financial Ratios31Table 9:Ni

16、ssan Motor Co.,Ltd.:Key Employees32Table 10:Nissan Motor Co.,Ltd.:Key Employees Continued33Table 11:Nissan Motor Co.,Ltd.:Key Employees Continued34Table 12:Nissan Motor Co.,Ltd.:Key Employees Continued35Table 13:Hyundai Motor Company:key facts36Table 14:Hyundai Motor Company:Annual Financial Ratios3

17、8Table 15:Hyundai Motor Company:Key Employees39Table 16:Mazda Ltd.:key facts40Table 17:Mazda Ltd.:Annual Financial Ratios41Table 18:Mazda Ltd.:Key Employees42Table 19:Toyota Motor Corporation:key facts43Table 20:Toyota Motor Corporation:Annual Financial Ratios45Table 21:Toyota Motor Corporation:Key

18、Employees46Table 22:Toyota Motor Corporation:Key Employees Continued47Table 23:Saudi Arabia size of population(million),20172148Table 24:Saudi Arabia gdp(constant 2005 prices,$billion),20172148Table 25:Saudi Arabia gdp(current prices,$billion),20172148Table 26:Saudi Arabia inflation,20172148Table 27

19、:Saudi Arabia consumer price index(absolute),20172149New Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|7Table 28:Saudi Arabia exchange rate,20162049New Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED

20、 PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|8LIST OF FIGURESFigure 1:Saudi Arabia new cars market value:$billion,2017-21(e)11Figure 2:Saudi Arabia new cars market volume:thousand units,201721(e)12Figure 3:Saudi Arabia new cars market geography segmentation:%share,by value,2021(e)13Figure 4:Saudi Arabi

21、a new cars market value forecast:$billion,2021-2614Figure 5:Saudi Arabia new cars market volume forecast:thousand units,20212615Figure 6:Forces driving competition in the new cars market in Saudi Arabia,202116Figure 7:Drivers of buyer power in the new cars market in Saudi Arabia,202117Figure 8:Drive

22、rs of supplier power in the new cars market in Saudi Arabia,202118Figure 9:Factors influencing the likelihood of new entrants in the new cars market in Saudi Arabia,202120Figure 10:Factors influencing the threat of substitutes in the new cars market in Saudi Arabia,202122Figure 11:Drivers of degree

23、of rivalry in the new cars market in Saudi Arabia,202123Figure 12:Saudi Arabia new cars market share:%share,by volume,2021(e)25New Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|92.Market Overview2.1.Market definitionThe new cars

24、 market consists of the initial retail sale/registration of new passenger cars.Passenger cars include saloons,hatchbacks,SUVs,4x4s,and light pickups used predominantly in North America,and other related vehicles.The market value is calculated at retail selling price(RSP)and the market volume is give

25、n in terms of units sold.Market share data for the New Cars industry applies to motor manufacturing groups as opposed to their individual brands,i.e.for the Volkswagen Group this includes all of its brands such as Volkswagen,Audi,Skoda,Seat etc.therefore where possible,market share data represents s

26、ales figures for every brand in that manufacturing group within each country.All market data and forecasts are represented in nominal terms(i.e.without adjustment for inflation)and all currency conversions used in the creation of this report have been calculated using constant 2020 annual average ex

27、change rates.For the purposes of this report,the global market consists of North America,South America,Europe,Asia-Pacific,Middle East,South Africa and Nigeria.North America consists of Canada,Mexico,and the United States.South America comprises Argentina,Brazil,Chile,Colombia,and Peru.Europe compri

28、ses Austria,Belgium,the Czech Republic,Denmark,Finland,France,Germany,Greece,Ireland,Italy,Netherlands,Norway,Poland,Portugal,Russia,Spain,Sweden,Switzerland,Turkey,and the United Kingdom.Scandinavia comprises Denmark,Finland,Norway,and Sweden.Asia-Pacific comprises Australia,China,Hong Kong,India,I

29、ndonesia,Kazakhstan,Japan,Malaysia,New Zealand,Pakistan,Philippines,Singapore,South Korea,Taiwan,Thailand,and Vietnam.Middle East comprises Egypt,Israel,Saudi Arabia,and United Arab Emirates.2.2.Market analysisThe Saudi Arabian new cars market experienced steep value and volume declines in 2018 and

30、2020 but achieved strong growth in 2019.The market is expected to experience very strong growth in 2021,with moderate rates expected over the majority of the forecast period.The Saudi Arabian economy has been subject to economic turbulence since 2016 due to the fall in oil prices in 2015.Private con

31、sumption has been limited in the face of shrinking income,eventually reducing demand for new cars during the historic period.The Saudi Arabian new cars market is expected to generate total revenues of$9.9bn in 2021,representing a compound annual growth rate(CAGR)of 2.6%between 2017 and 2021.In compa

32、rison,the Emirati market will decline with a compound annual rate of change(CARC)of-8.2%,and the Israeli market will increase with a CAGR of 4.9%,over the same period,to reach respective values of$3.7bn and$16.3bn in 2021.In 2018,the volume of cars sold in Saudi Arabia fell below 2010 levels.Low oil

33、 prices were having an impact on the economy and the introduction of VAT meant that prices increased,which in turn reduced purchasing power.2019 saw sales grow.Market consumption volume is forecast to increase with a CAGR of 0.7%between 2017 and 2021,to reach a total of 435.5 thousand units in 2021.

34、The markets volume is expected to fall to 426.4 thousand units by the end of 2026,representing a CARC of-0.4%for the 20212026 period.New Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|10The COVID-19 pandemic had a significant imp

35、act on the automotive industry in 2020,which had a knock-on effect on the new cars market.Temporary shutdowns at manufacturing plants amid labor shortages and a severe disruption in the supply chain,including a shortage of semiconductors,led to production declines.Meanwhile,consumer and business con

36、fidence remained depressed since its slump in the advent of the pandemic,leading to a decline in demand.According to MarketLine estimates,GDP growth contracted by 5.44%in 2020 due to the outbreak of the COVID-19 pandemic.The performance of the market is forecast to decelerate,with an anticipated CAG

37、R of 1.8%for the five-year period 20212026,which is expected to drive the market to a value of$10.9bn by the end of 2026.Comparatively,the Emirati market will increase with a CAGR of 5.5%,and the Israeli market will decline with a CARC of-2.6%,over the same period,to reach respective values of$4.8bn

38、 and$14.3bn in 2026.The Saudi Arabian new cars market is expected to follow a strong growth trajectory in value and volume terms in 2021.Pent-up demand will drive growth,while the improving macroeconomic environment given that the pandemic is set to be coming to an end will support spending over the

39、 coming years.As per MarketLine,the economy is forecast to grow at 2.6%in 2021,subject to post-pandemic global recovery.New Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|113.Market Data3.1.Market valueThe Saudi Arabian new cars

40、market grew by 16%in 2021 to reach a value of$9.9 billion.The compound annual growth rate of the market in the period 2017-21 was 2.6%.TableTable 1 1:SaudiSaudi ArabiaArabia newnew carscars marketmarket value:value:$billion,billion,2017-21(e)2017-21(e)Year$billionSAR billion billion%Growth20178.933.

41、57.820187.327.56.4-17.820199.836.88.633.720208.532.17.5-12.92021(e)9.937.28.716.0CAGR:2017212.6%SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFigureFigure 1 1:SaudiSaudi ArabiaArabia newnew carscars marketmarket value:value:$billion,billion,2017-21(e)2017-21(e)SOURCE:SOURCE:MARKETLINE M A R K E T L I

42、N ENew Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|123.2.Market volumeThe Saudi Arabian new cars market grew by 12.3%in 2021 to reach a volume of 435.5 thousand units.The compound annual growth rate of the market in the period

43、 2017-21 was 0.7%.TableTable 2 2:SaudiSaudi ArabiaArabia newnew carscars marketmarket volume:volume:thousandthousand units,units,20172017 21(e)21(e)Yearthousand units%Growth2017424.22018340.2-19.82019460.435.32020387.7-15.82021(e)435.512.3CAGR:2017210.7%SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFi

44、gureFigure 2 2:SaudiSaudi ArabiaArabia newnew carscars marketmarket volume:volume:thousandthousand units,units,20172017 21(e)21(e)SOURCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|134.

45、Market Segmentation4.1.Geography segmentationSaudi Arabia accounts for 28.1%of the MEA new cars market value.Israel accounts for a further 46.3%of the MEA market.TableTable 3 3:SaudiSaudi ArabiaArabia newnew carscars marketmarket geographygeography segmentation:segmentation:$billion,billion,2021(e)2

46、021(e)Geography2021%Israel16.346.3Saudi Arabia9.928.1Egypt5.315.0United Arab Emirates3.710.5Total35.299.9%SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFigureFigure 3 3:SaudiSaudi ArabiaArabia newnew carscars marketmarket geographygeography segmentation:segmentation:%share,share,byby value,value,2021(

47、e)2021(e)SOURCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|145.Market Outlook5.1.Market value forecastIn 2026,the Saudi Arabian new cars market is forecast to have a value of$10.9 bill

48、ion,an increase of 10.1%since 2021.The compound annual growth rate of the market in the period 2021-26 is predicted to be 1.8%.TableTable 4 4:SaudiSaudi ArabiaArabia newnew carscars marketmarket valuevalue forecast:forecast:$billion,billion,2021-262021-26Year$billionSAR billion billion%Growth20219.9

49、37.28.716.0%202210.138.08.92.0%20239.937.18.7(2.3%)202410.137.88.81.9%202510.639.79.35.2%202610.940.79.52.5%CAGR:2021261.8%SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFigureFigure 4 4:SaudiSaudi ArabiaArabia newnew carscars marketmarket valuevalue forecast:forecast:$billion,billion,2021-262021-26 SO

50、URCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in Saudi Arabia Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|155.2.Market volume forecastIn 2026,the Saudi Arabian new cars market is forecast to have a volume of 426.4 thousand units,a decrease of