Dublin, July 21, 2022 (GLOBE NEWSWIRE) -- The "UAE Luxury Car Market, By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Propulsion (ICE, Electric), By Price Segment (Entry Level, Mid-Range, and Premium-Range), By Region, Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
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 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.
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.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in UAE luxury car market.
- 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
Report Scope:
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022E
- Forecast Period: 2023F-2027F
UAE Luxury Car Market, By Vehicle Type:
- Hatchback
- Sedan
- SUV/MPV
UAE Luxury Car Market, By Propulsion:
- ICE
- Electric
UAE Luxury Car Market, By Price Segment:
- Entry Level
- Mid-Range
- Premium-Range
UAE Luxury Car Market, By Region:
- Dubai
- Abu Dhabi
- Sharjah
- Rest of UAE
For more information about this report visit https://www.researchandmarkets.com/r/4r7rsi
