Medium Cars - Qatar

Qatar

Revenue in the Medium Cars market is projected to reach US$110m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.56%, resulting in a projected market volume of US$125m by 2029.
Medium Cars market unit sales are expected to reach 5.6k vehicles in 2029.
The volume weighted average price of Medium Cars market in 2024 is expected to amount to US$22k.
From an international perspective it is shown that the most revenue will be generated in China (US$89,320m in 2024).

Key regions: India, United States, Germany, China, Europe

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Analyst Opinion

The Medium Cars market in Qatar is experiencing steady growth due to customer preferences for spacious and comfortable vehicles, as well as the local special circumstances and underlying macroeconomic factors in the country. Customer preferences in Qatar lean towards medium cars that offer ample space for passengers and cargo, as well as a comfortable and smooth driving experience.

This is driven by the need for larger vehicles to accommodate families and the desire for a more luxurious driving experience. Additionally, medium cars are often seen as a status symbol and a reflection of one's social standing in the country. In terms of trends in the market, there has been an increasing demand for hybrid and electric medium cars in Qatar.

This is in line with global trends towards more sustainable and environmentally-friendly transportation options. The government of Qatar has also been actively promoting the use of electric vehicles through incentives and infrastructure development, further driving the demand for these types of cars. Another trend in the market is the integration of advanced technology and connectivity features in medium cars.

Qatar, being a technologically advanced country, has a population that is highly receptive to new technologies. As a result, car manufacturers are incorporating features such as touchscreens, voice recognition, and smartphone integration to cater to the preferences of the Qatari consumers. In terms of local special circumstances, Qatar has a high GDP per capita and a strong economy, which allows for a higher purchasing power among consumers.

This enables them to afford medium cars that are often priced higher than smaller vehicles. Additionally, the country has a well-developed infrastructure and road network, making medium cars a practical choice for navigating the city and traveling longer distances. Underlying macroeconomic factors also contribute to the growth of the Medium Cars market in Qatar.

The country has a stable political environment and a growing population, which creates a favorable market for car manufacturers. Furthermore, the low oil prices have led to a diversification of the economy, with increased investments in sectors such as construction, tourism, and transportation. This has resulted in a higher demand for medium cars to cater to the needs of these growing industries.

Overall, the Medium Cars market in Qatar is growing due to customer preferences for spacious and comfortable vehicles, the increasing demand for hybrid and electric cars, the integration of advanced technology, the local special circumstances of a high GDP per capita and well-developed infrastructure, and the underlying macroeconomic factors of a stable political environment and a growing population.

Methodology

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).