Key regions: United States, Germany, United Kingdom, India, China
The SUVs market in Egypt has been experiencing significant growth in recent years, driven by changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Egyptian consumers have shown a growing preference for SUVs due to their versatility, spaciousness, and perceived safety. SUVs offer a higher seating position, which provides better visibility on the road, and their larger size allows for more cargo space, making them suitable for families and individuals with active lifestyles. Additionally, SUVs are often equipped with advanced safety features, which appeal to safety-conscious consumers.
Trends in the market: One of the key trends in the SUVs market in Egypt is the increasing demand for compact SUVs. These smaller-sized SUVs offer the benefits of a traditional SUV, such as higher ground clearance and a more commanding driving position, but with a more compact footprint. This trend can be attributed to the growing urbanization in Egypt, where smaller-sized vehicles are more practical for maneuvering through congested city streets and parking in tight spaces. Another trend in the market is the rise of electric and hybrid SUVs. As Egypt aims to reduce its dependence on fossil fuels and promote sustainable transportation, there has been a growing interest in electric and hybrid vehicles. SUVs are no exception to this trend, with automakers introducing electric and hybrid SUV models to cater to eco-conscious consumers.
Local special circumstances: Egypt's unique geography and climate play a role in the popularity of SUVs. The country's diverse terrain, which includes deserts, mountains, and coastal areas, makes SUVs a practical choice for navigating different road conditions. Moreover, Egypt experiences hot and dusty weather, which can be better managed in an SUV with higher ground clearance and better air filtration systems.
Underlying macroeconomic factors: The SUVs market in Egypt is also influenced by underlying macroeconomic factors. The country's improving economic conditions, rising disposable incomes, and favorable financing options have made SUVs more affordable and accessible to a wider range of consumers. Additionally, the government's efforts to attract foreign investment and promote local manufacturing have led to the establishment of production facilities by major automakers, resulting in a greater availability of SUV models in the market. In conclusion, the SUVs market in Egypt is witnessing growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for compact SUVs and electric/hybrid SUVs reflects consumers' desire for practicality and sustainability. Egypt's unique geography and climate further contribute to the popularity of SUVs, while improving economic conditions and favorable financing options make them more affordable and accessible to a larger consumer base.
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).
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