Small Cars - Qatar

Qatar

Highlights

Revenue in the Small Cars market is projected to reach US$220m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.04%, resulting in a projected market volume of US$244m by 2029.
Small Cars market unit sales are expected to reach 16.3k vehicles in 2029.
The volume weighted average price of Small Cars market in 2024 is expected to amount to US$15k.
From an international perspective it is shown that the most revenue will be generated China (US$13bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Small Cars market in Qatar has been experiencing significant growth in recent years.

Customer preferences: Qatari customers have shown a strong preference for small cars due to several factors. Firstly, small cars are more fuel-efficient, which is particularly important in a country where gasoline prices are relatively high. Additionally, small cars are easier to maneuver and park in the crowded city streets of Qatar. Furthermore, small cars are often more affordable, making them an attractive option for budget-conscious consumers.

Trends in the market: One of the key trends in the Small Cars market in Qatar is the increasing demand for electric and hybrid small cars. As the Qatari government promotes sustainability and environmental consciousness, consumers are becoming more interested in eco-friendly alternatives. Electric and hybrid small cars offer lower emissions and reduced fuel consumption, aligning with the country's goals for a greener future. This trend is expected to continue as more electric and hybrid models become available in the market. Another trend in the Small Cars market in Qatar is the rising popularity of compact SUVs. While technically not small cars, compact SUVs offer a similar size and maneuverability to small cars while providing additional space and versatility. Qatari consumers are increasingly drawn to the practicality and ruggedness of compact SUVs, making them a popular choice in the market.

Local special circumstances: Qatar's small car market is also influenced by the country's unique demographics and infrastructure. The majority of Qatar's population is made up of expatriates, many of whom prefer small cars due to their affordability and practicality. Additionally, Qatar's urban areas are characterized by narrow streets and limited parking spaces, making small cars a more convenient option for city dwellers.

Underlying macroeconomic factors: The growth of the Small Cars market in Qatar can be attributed to several underlying macroeconomic factors. Firstly, Qatar has experienced sustained economic growth in recent years, resulting in an increase in disposable income for many consumers. This has allowed more individuals to afford small cars and contribute to the market's expansion. Furthermore, the Qatari government has implemented policies to support the automotive industry, including favorable taxation and import regulations. These measures have made small cars more accessible and affordable for consumers, further driving market growth. In conclusion, the Small Cars market in Qatar is witnessing significant growth due to customer preferences for fuel efficiency, affordability, and practicality. The increasing demand for electric and hybrid small cars, as well as compact SUVs, reflects changing consumer preferences and the country's focus on sustainability. Qatar's unique demographics and infrastructure also contribute to the market's development. Overall, the growth of the Small Cars market in Qatar can be attributed to the country's strong economy and supportive government policies.

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).