Executive Cars - Qatar

Qatar

Highlights

Revenue in the Executive Cars market is projected to reach US$23m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.90%, resulting in a projected market volume of US$30m by 2029.
Executive Cars market unit sales are expected to reach 679.0vehicles in 2029.
The volume weighted average price of Executive Cars market in 2024 is expected to amount to US$44k.
From an international perspective it is shown that the most revenue will be generated China (US$63bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Executive Cars market in Qatar is experiencing steady growth due to several factors. Customer preferences for luxury and high-end vehicles, as well as the increasing purchasing power of the population, are driving the demand for executive cars in the country.

Additionally, local special circumstances such as a growing expatriate population and government initiatives to diversify the economy are contributing to the development of the market. Customer preferences in Qatar lean towards luxury and high-end vehicles, which has fueled the demand for executive cars. The population in Qatar has a high disposable income and a strong affinity for luxury brands.

As a result, there is a strong demand for executive cars from both Qatari nationals and expatriates residing in the country. The desire for comfort, prestige, and advanced features are key factors driving the preference for executive cars among customers in Qatar. Trends in the market show an increasing demand for executive cars in Qatar.

This can be attributed to the growing population and rising purchasing power of consumers. As the population continues to grow, the demand for personal transportation is also increasing. Additionally, the rising disposable income of individuals in Qatar allows them to afford luxury vehicles, including executive cars.

This trend is expected to continue as the economy of Qatar expands and more people are able to afford higher-end vehicles. Local special circumstances in Qatar also contribute to the development of the Executive Cars market. Qatar has a large expatriate population, with many individuals working in high-income jobs.

These expatriates often have a preference for luxury vehicles, including executive cars, which further drives the demand for these vehicles in the country. Additionally, the Qatari government has implemented various initiatives to diversify the economy and attract foreign investment. This has led to an influx of multinational companies and high-net-worth individuals, further boosting the demand for executive cars.

Underlying macroeconomic factors also play a role in the development of the Executive Cars market in Qatar. The country has a strong and stable economy, driven by its vast reserves of natural gas. This has resulted in high levels of disposable income for individuals in Qatar, allowing them to afford luxury vehicles.

Furthermore, the government's focus on diversifying the economy has led to the establishment of various industries, attracting high-income individuals who contribute to the demand for executive cars. In conclusion, the Executive Cars market in Qatar is developing due to customer preferences for luxury vehicles, the increasing purchasing power of the population, local special circumstances such as a growing expatriate population, and the government's initiatives to diversify the economy. These factors, along with the underlying macroeconomic stability of the country, are driving the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).