Passenger Cars - Qatar | Statista Market Forecast

Revenue in the Passenger Cars market is projected to reach US$1.1bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.71%, resulting in a projected market volume of US$1.2bn by 2029.
The market's largest segment is SUVs with a projected market volume of US$567.9m in 2024.
Passenger Cars market unit sales are expected to reach 53.14k vehicles in 2029.
The volume weighted average price of Passenger Cars market is expected to amount to US$23.93k in 2024.
With a vehicle unit sales share of 41.4% in 2024, Suzuki is expected to have one of the highest market share in the selected region.
The value market share of the make Suzuki in the selected region is expected to stand at 31.0% in 2024.
From an international perspective it is shown that the most revenue will be generated United States (US$605bn in 2024).

The Mobility Market specifically covers newly sold passenger cars, including small, medium, executive, and luxury cars as well as SUVs, minivans, and sports cars. However, motorcycles, buses, trucks, large vans, and light utility vehicles are not included. The market's segmentation is based on several factors, including physical properties (weight, volume, wheelbase) and economic factors (pricing, status, etc.). All key figures shown represent the sales of new cars in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models. Importantly, our focus is solely on the market for newly sold cars, distinct from the broader category of registered cars.

The Passenger Cars market is divided into further markets for small cars, medium cars, executive cars, luxury cars, SUVs, minivans, and sports cars. Additionally, it delves into different car brands, offering a comprehensive view of the market.

Insights are centered on newly sold cars in standard configurations, excluding used vehicles and customizations. Reported statistics align with base vehicle configurations, ensuring a focused understanding of the dynamic passenger car market.

Newly Sold Passenger cars
Sports cars
SUVs
MPVs

Motorcycles, Buses and Trucks
Commercial Vans (included for the U.S. market only)
Pickup trucks (included for the U.S. market only)

The Passenger Cars market in Qatar has been experiencing steady growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Qatar have been shifting towards more luxurious and technologically advanced vehicles.

Qatar is known for its high-income population and a strong affinity for luxury goods, including cars. As a result, there is a growing demand for premium and high-end passenger cars in the market. Customers are looking for vehicles that offer comfort, safety features, and the latest technology advancements.

This trend has led to an increase in the sales of luxury brands and high-end models in Qatar. Trends in the market also play a significant role in the development of the Passenger Cars market in Qatar. One of the key trends is the growing popularity of electric and hybrid vehicles.

Qatar has been actively promoting sustainable transportation and investing in infrastructure to support electric vehicles. This has led to an increased adoption of electric and hybrid cars in the country. Additionally, there is a growing interest in SUVs and crossover vehicles, as they offer a combination of luxury, comfort, and practicality that appeals to the local market.

Local special circumstances in Qatar further contribute to the development of the Passenger Cars market. Qatar is a small country with a well-developed road infrastructure and high car ownership rates. The government has implemented policies to facilitate car ownership, such as providing affordable financing options and reducing import tariffs.

These factors have made it easier for individuals to purchase cars, leading to a higher demand in the market. Underlying macroeconomic factors also play a crucial role in the growth of the Passenger Cars market in Qatar. The country has a strong economy, driven by its vast oil and gas reserves.

This has resulted in a high disposable income among the population, enabling them to afford luxury vehicles. Additionally, favorable government policies and low fuel prices have also contributed to the growth of the market. In conclusion, the Passenger Cars market in Qatar is developing due to customer preferences for luxury and technologically advanced vehicles, the growing popularity of electric and hybrid cars, local special circumstances such as a well-developed road infrastructure and high car ownership rates, and underlying macroeconomic factors such as a strong economy and favorable government policies.

These factors are expected to continue driving the growth of the market in the coming years.

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).

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Is the global automotive industry experiencing an economic downturn? High inflation rates and raw material price increases recorded throughout 2022 and 2023 have challenged the industry, impacting consumers’ purchasing power and manufacturers’ production costs and profits. However, while global automobile sales slowed in 2022 due to the impact of the automotive semiconductor shortage, the market has been growing since the pandemic, and is forecast to move closer to its pre-pandemic level in 2023.