MarketLineIC_United Arab Emirates 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 United Arab EmiratesJanuary 2022ReferenceReference Code:Code:0197-03580197-0358PublicationPublication Date:Date:JanuaryJanuary 20222022PrimaryPrimary NAICS:NAICS:336111336111WWW.MA

2、RKETLINE.COMWWW.MARKETLINE.COMMARKETLINE.THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED New Cars in United Arab EmiratesIndustry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|21.Executive Summary1.1.Market valueThe Emirati new cars market gr

3、ew by 10.4%in 2021 to reach a value of$3.7 billion.1.2.Market value forecastIn 2026,the Emirati new cars market is forecast to have a value of$4.8 billion,an increase of 29.7%since 2021.1.3.Market volumeThe Emirati new cars market grew by 9.6%in 2021 to reach a volume of 142.3 thousand units.1.4.Mar

4、ket volume forecastIn 2026,the Emirati new cars market is forecast to have a volume of 168.2 thousand units,an increase of 18.1%since 2021.1.5.Geography segmentationUnited Arab Emirates accounts for 10.5%of the MEA new cars market value.1.6.Market shareToyota is the leading player in the Emirati new

5、 cars market,generating a 46%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,due t

6、o 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 United Arab EmiratesIndustry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT T

7、O BE PHOTOCOPIEDPage|31.8.Competitive LandscapeThe UAE new cars market is highly consolidated,with the four leading players,Nissan,Mitsubishi,Hyundai,and Toyota,expected to account for a combined 96.5%share of the sales volume in 2021.The leading players in this market are tapping into the growing d

8、emand 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 United Arab Emirates Industry Profi

9、les MARKETLINE 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 Lands

10、cape.32.Market 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 pow

11、er.176.3.Supplier power.186.4.New entrants.206.5.Threat of substitutes.22New Cars in United Arab Emirates Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|56.6.Degree of rivalry.247.Competitive Landscape267.1.Market share.267.2.Who are the leading play

12、ers?.267.3.How are strategic alliances used by the leading companies?.277.4.How is new technology opening up competition?.287.5.How are leading players progressing in the hybrid and electric cars segment?.287.6.What impact is the COVID-19 pandemic having on leading players?.298.Company Profiles308.1

13、.Toyota Motor Corporation.308.2.Hyundai Motor Company.358.3.Mitsubishi Motors Corporation.398.4.Nissan Motor Co.,Ltd.459.Macroeconomic Indicators529.1.Country data.52Appendix54Methodology.549.2.Industry associations.559.3.Related MarketLine research.55About MarketLine.56New Cars in United Arab Emira

14、tes Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|6LIST OF TABLESTable 1:United Arab Emirates new cars market value:$billion,2017-21(e)11Table 2:United Arab Emirates new cars market volume:thousand units,201721(e)12Table 3:United Arab Emirates new c

15、ars market geography segmentation:$billion,2021(e)13Table 4:United Arab Emirates new cars market value forecast:$billion,2021-2614Table 5:United Arab Emirates new cars market volume forecast:thousand units,20212615Table 6:United Arab Emirates new cars market share:%share,by volume,2021(e)26Table 7:T

16、oyota Motor Corporation:key facts30Table 8:Toyota Motor Corporation:Annual Financial Ratios32Table 9:Toyota Motor Corporation:Key Employees33Table 10:Toyota Motor Corporation:Key Employees Continued34Table 11:Hyundai Motor Company:key facts35Table 12:Hyundai Motor Company:Annual Financial Ratios37Ta

17、ble 13:Hyundai Motor Company:Key Employees38Table 14:Mitsubishi Motors Corporation:key facts39Table 15:Mitsubishi Motors Corporation:Annual Financial Ratios41Table 16:Mitsubishi Motors Corporation:Key Employees42Table 17:Mitsubishi Motors Corporation:Key Employees Continued43Table 18:Mitsubishi Moto

18、rs Corporation:Key Employees Continued44Table 19:Nissan Motor Co.,Ltd.:key facts45Table 20:Nissan Motor Co.,Ltd.:Annual Financial Ratios47Table 21:Nissan Motor Co.,Ltd.:Key Employees48Table 22:Nissan Motor Co.,Ltd.:Key Employees Continued49Table 23:Nissan Motor Co.,Ltd.:Key Employees Continued50Tabl

19、e 24:Nissan Motor Co.,Ltd.:Key Employees Continued51Table 25:United Arab Emirates size of population(million),20172152Table 26:United Arab Emirates gdp(constant 2005 prices,$billion),20172152Table 27:United Arab Emirates gdp(current prices,$billion),20172152New Cars in United Arab Emirates Industry

20、Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|7Table 28:United Arab Emirates inflation,20172152Table 29:United Arab Emirates consumer price index(absolute),20172153Table 30:United Arab Emirates exchange rate,20162053New Cars in United Arab Emirates Industry

21、Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|8LIST OF FIGURESFigure 1:United Arab Emirates new cars market value:$billion,2017-21(e)11Figure 2:United Arab Emirates new cars market volume:thousand units,201721(e)12Figure 3:United Arab Emirates new cars marke

22、t geography segmentation:%share,by value,2021(e)13Figure 4:United Arab Emirates new cars market value forecast:$billion,2021-2614Figure 5:United Arab Emirates new cars market volume forecast:thousand units,20212615Figure 6:Forces driving competition in the new cars market in United Arab Emirates,202

23、116Figure 7:Drivers of buyer power in the new cars market in United Arab Emirates,202117Figure 8:Drivers of supplier power in the new cars market in United Arab Emirates,202118Figure 9:Factors influencing the likelihood of new entrants in the new cars market in United Arab Emirates,202120Figure 10:F

24、actors influencing the threat of substitutes in the new cars market in United Arab Emirates,202122Figure 11:Drivers of degree of rivalry in the new cars market in United Arab Emirates,202124Figure 12:United Arab Emirates new cars market share:%share,by volume,2021(e)26New Cars in United Arab Emirate

25、s Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|92.Market Overview2.1.Market definitionThe new cars market consists of the initial retail sale/registration of new passenger cars.Passenger cars include saloons,hatchbacks,SUVs,4x4s,and light pickups u

26、sed predominantly in North America,and other related vehicles.The market value is calculated at retail selling price(RSP)and the market volume is given 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.f

27、or the Volkswagen Group this includes all of its brands such as Volkswagen,Audi,Skoda,Seat etc.therefore where possible,market share data represents sales figures for every brand in that manufacturing group within each country.All market data and forecasts are represented in nominal terms(i.e.withou

28、t adjustment for inflation)and all currency conversions used in the creation of this report have been calculated using constant 2020 annual average exchange rates.For the purposes of this report,the global market consists of North America,South America,Europe,Asia-Pacific,Middle East,South Africa an

29、d Nigeria.North America consists of Canada,Mexico,and the United States.South America comprises Argentina,Brazil,Chile,Colombia,and Peru.Europe comprises Austria,Belgium,the Czech Republic,Denmark,Finland,France,Germany,Greece,Ireland,Italy,Netherlands,Norway,Poland,Portugal,Russia,Spain,Sweden,Swit

30、zerland,Turkey,and the United Kingdom.Scandinavia comprises Denmark,Finland,Norway,and Sweden.Asia-Pacific comprises Australia,China,Hong Kong,India,Indonesia,Kazakhstan,Japan,Malaysia,New Zealand,Pakistan,Philippines,Singapore,South Korea,Taiwan,Thailand,and Vietnam.Middle East comprises Egypt,Isra

31、el,Saudi Arabia,and United Arab Emirates.2.2.Market analysisThe Emirati new cars market experienced very strong value and volume growth in 2018,before suffering steep declines the following two years.The market is expected to experience very strong growth in 2021 and 2022,with moderate rates expecte

32、d overall over the forecast period.Demand for new cars and prices were dramatically increased in 2017,as consumers rushed to purchase a new car before the roll-out of VAT in 2018.Despite the introduction of VAT in 2018,this remained a positive year for the new cars market.2019 saw decline as used ca

33、r sales grew,with sales from private sellers being exempt from VAT.The Emirati new cars market is forecast to generate total revenues of$3.7bn in 2021,representing a compound annual rate of change(CARC)of-8.2%between 2017 and 2021.In comparison,the Saudi Arabian and Egyptian markets will grow with c

34、ompound annual growth rates(CAGRs)of 2.6%and 27.6%respectively,over the same period,to reach respective values of$9.9bn and$5.3bn in 2021.As technology improves the efficiency and price competitiveness of electric cars,demand for these vehicles will undoubtedly increase.A number of major global car

35、manufacturers such as Volvo,GM,Aston Martin,and Jaguar Land Rover have announced plans to switch over to manufacturing only electric or hybrid cars at some point within the coming decade.Between 2015 and 2019,the hybrid and electric cars market in this country grew with a CAGR of 14.8%.New Cars in U

36、nited Arab Emirates Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|10Market consumption volume is forecast to decline with a CARC of-8.2%between 2017 and 2021,to reach a total of 142.3 thousand units in 2021.The markets volume is expected to rise to

37、168.2 thousand units by the end of 2026,representing a CAGR of 3.4%for the 20212026 period.The COVID-19 pandemic had a significant impact 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 sever

38、e disruption in the supply chain,including a shortage of semiconductors,led to production declines.Meanwhile,consumer and business confidence remained depressed since its slump in the advent of the pandemic,leading to a decline in demand.Due to the outbreak of the COVID-19 pandemic in 2020 along wit

39、h low oil prices,the UAE economy contracted by 6.34%,according to MarketLine estimates.The performance of the market is forecast to accelerate,with an anticipated CAGR of 5.5%for the five-year period 20212026,which is expected to drive the market to a value of$4.8bn by the end of 2026.Comparatively,

40、the Saudi Arabian and Egyptian markets will grow with CAGRs of 1.8%and 3.7%respectively,over the same period,to reach respective values of$10.9bn and$6.4bn in 2026.The Emirati new cars market is expected to follow a strong growth trajectory in value and volume terms in 2021 and 2022.Pent-up demand w

41、ill drive growth,while the improving macroeconomic environment given that the pandemic is set to be coming to an end,will support spending over the coming years.The UAE economy is forecast to grow at 2.76%in 2021,subject to post pandemic global recovery.However,beyond 2022 market growth is expected

42、to decelerate as demand becomes more subdued once again.New Cars in United Arab Emirates Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|113.Market Data3.1.Market valueThe Emirati new cars market grew by 10.4%in 2021 to reach a value of$3.7 billion.Th

43、e compound annual rate of change of the market in the period 2017-21 was-8.2%.TableTable 1 1:UnitedUnited ArabArab EmiratesEmirates newnew carscars marketmarket value:value:$billion,billion,2017-21(e)2017-21(e)Year$billionAED billion billion%Growth20175.219.24.620186.423.75.623.620195.219.24.6-18.92

44、0203.412.32.9-35.92021(e)3.713.63.210.4CAGR:201721(8.2%)SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFigureFigure 1 1:UnitedUnited ArabArab EmiratesEmirates newnew carscars marketmarket value:value:$billion,billion,2017-21(e)2017-21(e)SOURCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in United Ara

45、b Emirates Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|123.2.Market volumeThe Emirati new cars market grew by 9.6%in 2021 to reach a volume of 142.3 thousand units.The compound annual rate of change of the market in the period 2017-21 was-8.2%.Tab

46、leTable 2 2:UnitedUnited ArabArab EmiratesEmirates newnew carscars marketmarket volume:volume:thousandthousand units,units,20172017 21(e)21(e)Yearthousand units%Growth2017200.12018240.019.92019198.5-17.32020129.9-34.62021(e)142.39.6CAGR:201721(8.2%)SOURCE:SOURCE:MARKETLINE M A R K E T L I N EFigureF

47、igure 2 2:UnitedUnited ArabArab EmiratesEmirates 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 United Arab Emirates Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PH

48、OTOCOPIEDPage|134.Market Segmentation4.1.Geography segmentationUnited Arab Emirates accounts for 10.5%of the MEA new cars market value.Israel accounts for a further 46.3%of the MEA market.TableTable 3 3:UnitedUnited ArabArab EmiratesEmirates newnew carscars marketmarket geographygeography segmentati

49、on:segmentation:$billion,billion,2021(e)2021(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:UnitedUnited ArabArab EmiratesEmirates newnew carscars marketmarket geographygeography segme

50、ntation:segmentation:%share,share,byby value,value,2021(e)2021(e)SOURCE:SOURCE:MARKETLINE M A R K E T L I N ENew Cars in United Arab Emirates Industry Profiles MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIEDPage|145.Market Outlook5.1.Market value forecastIn 2026,the Emirat