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The UAE luxury car market attained a value of USD 4.45 Billion in 2024 and is projected to expand at a CAGR of around 5.60% through 2034. A key factor propelling growth of the UAE luxury car market is the country's multicultural customer base, which revolves around unique consumer tastes and expectations. Luxury automobile dealerships address this diversity by stocking a multitude of brands and models, guaranteeing they meet the unique requirements of their customers. This encompasses focusing more on comfort, high-tech features, sportiness, and power to cater to different cultural preferences and lifestyle options. These customized products strengthen the appeal of luxury car ownership in the cosmopolitan UAE ecosystem, thereby pushing the industry to attain a value of USD 7.67 Billion by 2034.
Another distinctive factor propelling growth in the UAE market for luxury cars is the growth in billionaire fortunes, which expanded by 39.5% in 2024 to USD 138.7 billion, in combination with the arrival of more than 6,700 new millionaires. This growth of high-net-worth individuals drives demand for high-end cars such as Rolls-Royce, Bentley, and Lamborghini, usually customized to represent personal status. Favourable tax policies and low import tariffs further enhance the appeal of luxury automobile ownership, cementing the UAE's position as a top destination for high-end car purchases.
The UAE luxury car market is changing at a fast pace with innovations aimed at electric and autonomous cars. Automakers are launching advanced electric vehicles with longer ranges and quicker charging times, thus augmenting the UAE luxury car market expansion. Autonomous driving technology is gaining traction, with brands incorporating AI-driven safety features. Connectivity via smart infotainment and over-the-air updates improves user experience. Customization choices are growing as consumers demand personalized cars. Government efforts, such as installing 1,200 EV charging points by 2025, aid market expansion. These trends reflect the UAE's dedication to smart mobility and green technology and its positioning as a Middle East luxury electric vehicle innovation hub.
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UAE Luxury Car market was valued at USD 442.51 million in 2024 and is anticipated to grow USD 541.23 million by 2030 with a CAGR of 3.46%.
Pages | 80 |
Market Size | 2024: USD 442.51 Million |
Forecast Market Size | 2030: USD 541.23 Million |
CAGR | 2025-2030: 3.46% |
Fastest Growing Segment | Electric |
Largest Market | Dubai |
Key Players | 1. Rolls-Royce Motor Cars Limited 2. BMW AG 3. Koenigsegg Automotive AB 4. Automobili Lamborghini S.p.A. 5. W Motors 6. Daimler AG 7. Volkswagen AG 8. Aston Martin Lagonda Limited 9. Ferrari S.p.A. 10. Automobiles Ettore Bugatti |
Amongst luxury passenger cars, SUVs had the highest share of sales in the United Arab Emirates (UAE) in 2021 at more than ** percent. Luxury passenger cars held almost ** percent of passenger car sales in the UAE in that year.
The number of vehicle sales by make in the 'Luxury Cars' segment of the passenger cars market in the United Arab Emirates was forecast to increase between 2024 and 2029 by in total *** thousand vehicles (+**** percent). This overall increase does not happen continuously, notably not in 2026. According to this forecast, in 2029, the number of vehicle sales by make will have increased for the third consecutive year to **** thousand vehicles. Find further information concerning revenue in the United States and average price per unit (PPU) in the United States.The Statista Market Insights cover a broad range of additional markets.
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The used car market in the UAE is experiencing robust growth, projected to reach a market size of $18.39 million in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 11.73%. This expansion is driven by several factors. Firstly, the increasing affordability of used vehicles compared to new cars makes them an attractive option for budget-conscious consumers. Secondly, a growing preference for online car buying platforms like Yalla Motors and OpenSooq.com is streamlining the purchasing process and increasing market accessibility. Thirdly, the diverse range of vehicle types available, encompassing hatchbacks, sedans, and sports utility vehicles (SUVs), caters to a wide spectrum of consumer needs and preferences. The market is segmented by vendor type (organized vs. unorganized), booking type (online vs. offline), and fuel type (petrol, diesel, and others), providing further insights into consumer behavior and market dynamics. While precise figures for each segment are unavailable, the dominance of organized vendors is likely to increase with the growth of online platforms. The relatively high CAGR suggests a strong demand for used vehicles, further fueled by factors such as a large expatriate population with varying transportation needs and a consistently high vehicle turnover rate in the UAE. The robust growth trajectory is expected to continue throughout the forecast period (2025-2033). However, potential restraints like fluctuating fuel prices and government regulations concerning vehicle imports and emissions could influence future growth. Nonetheless, the substantial increase in online platforms, coupled with the convenience and cost-effectiveness they provide, are likely to mitigate these potential challenges. Companies like Al-Futtaim Group, Al Nabooda Automobiles, and SellAnyCar.com are key players, and their continued investments in technology and customer service will likely shape market competition and growth. The geographical distribution within the UAE, although not detailed in the provided data, is likely to favor urban centers with higher population density. Further research into specific regional data within the UAE would provide a more granular understanding of market performance. Recent developments include: October 2023: CarSwitch, a Dubai-based online used car marketplace, announced its plans to expand its operations across the United Arab Emirates and launch new services, such as car financing and subscription services. The company is also planning to open new physical showrooms in major cities across the country., January 2023: Linda Cars, a used car dealership in the United Arab Emirates, announced its expansion with the opening of a new showroom in the Al Quoz area of Dubai. The new facility will host some of the United Arab Emirates’ prominent car brands, including Porsche, Mercedes, Audi, BMW, Jeep, Jaguar, and Range Rover.. Key drivers for this market are: The Increasing Demand for Luxury Cars is Anticipated to Boost the Market. Potential restraints include: The Increasing Demand for Luxury Cars is Anticipated to Boost the Market. Notable trends are: The Sports Utility Vehicles (SUVs) and Multi-Purpose Vehicles (MPVs) Segment is Expected to Hold Higher Share in the Market.
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UAE’s market is projected to grow at 6.90% CAGR, driven by demand for luxury cars, rising EV sales, and advanced dealership services.
As of 2021, luxury car sales held almost ** percent of passenger car sales in the United Arab Emirates (UAE). Due to the relatively low tax burden in the country, the market for luxury goods, including cars, is thriving in the United Arab Emirates.
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GCC Car Rental Market size was valued at USD 4.52 Billion in 2024 and is projected to reach USD 8.05 Billion by 2032, growing at a CAGR of 7.5% from 2025 to 2032.
Key Market Drivers: • Increasing Tourism: The expansion of tourism throughout the GCC is a primary driver of the automobile rental sector. According to the Saudi General Authority for Statistics, the number of international tourists visiting Saudi Arabia would rise by 60% in 2024, increasing demand for rental vehicles, particularly at airports and tourist sites. • Rising Disposable Income: Higher discretionary incomes in the GCC region, notably in the UAE, are driving up demand for luxury and premium car rentals. According to the National Bureau of Statistics, the average family income in the UAE would rise by 5% in 2024, resulting in increasing demand for high-end rental alternatives among residents and tourists.
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The United Arab Emirates Car Rental Market Report is Segmented by Rental Duration (Short-Term, Long-Term), Booking Type (Online, Offline), Driving Type (Self-Driven, Chauffeur-Driven), Vehicle Type (Budget/Economy, Premium/Luxury). The Market Forecasts are Provided in Terms of Value (USD).
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According to our latest research, the global bespoke car market size reached USD 3.18 billion in 2024, exhibiting robust growth driven by rising consumer demand for exclusivity and customization in the automotive sector. The market is projected to expand at a CAGR of 7.6% from 2025 to 2033, reaching a forecasted value of USD 6.14 billion by 2033. This growth is underpinned by a surge in luxury spending, advancements in automotive technology, and a growing culture of personalization among high-net-worth individuals and automotive enthusiasts worldwide.
The bespoke car market is experiencing significant momentum due to an increasing emphasis on individuality and status among affluent consumers. As luxury and sports car owners seek to distinguish themselves, the demand for tailored automotive solutions encompassing unique materials, finishes, and advanced technologies has soared. This trend is further amplified by the proliferation of high-net-worth individuals globally, especially in emerging markets, who are willing to invest in vehicles that reflect their personal tastes and lifestyle aspirations. The integration of advanced digital platforms has also made it easier for customers to visualize and specify their bespoke requirements, streamlining the customization process and enhancing customer satisfaction.
Another critical growth factor for the bespoke car market is the evolution of automotive manufacturing techniques. The adoption of 3D printing, advanced robotics, and artificial intelligence has enabled manufacturers and service providers to deliver intricate, high-quality customizations with greater efficiency and precision. These technological advancements have not only reduced production lead times but have also expanded the range of customization options available to consumers. Moreover, collaborations between luxury car manufacturers and renowned designers or lifestyle brands are creating exclusive, limited-edition models that further fuel demand within the bespoke car segment. The increasing availability of eco-friendly and sustainable materials for customization is also attracting environmentally conscious customers, broadening the bespoke market’s appeal.
The growing trend of car restoration and personalization among classic car enthusiasts is another significant driver for the bespoke car market. As vintage and classic vehicles gain value as collectible assets, owners are investing in high-quality restoration and customization services to enhance both the aesthetic and functional aspects of their cars. This segment is also benefitting from the rise of automotive events, exhibitions, and auctions, which serve as platforms for showcasing bespoke vehicles and connecting service providers with potential clients. The aftermarket sector, in particular, is witnessing a surge in demand for bespoke services, as owners of both new and pre-owned vehicles seek to upgrade or personalize their cars beyond factory specifications.
From a regional perspective, Europe and North America continue to dominate the bespoke car market, accounting for the majority of revenue share in 2024. These regions benefit from a well-established luxury automotive culture, a high concentration of affluent consumers, and the presence of leading bespoke car manufacturers and service providers. Meanwhile, the Asia Pacific region is emerging as a significant growth hub, driven by rapid economic development, increasing disposable incomes, and a burgeoning appetite for luxury goods among younger demographics. The Middle East, with its tradition of luxury and exclusivity, also presents substantial opportunities for bespoke car market expansion, particularly in the UAE and Saudi Arabia. Latin America and Africa, while still nascent markets, are expected to witness steady growth as wealth levels rise and automotive cultures evolve.
The vehicle type segment of the bespoke car market is characterized by a diverse range of offerings, including luxury cars, sports cars, classic cars, SUVs, and other specialty vehicles. Luxury cars remain the largest segment, driven by a strong demand for high-end brands that offer extensive customization options. Discerning customers in this segment seek vehicles that not only deliver superior performance and comfort but also reflect their personal style through bespoke interiors, exclusive paint finishes, and custom technology integrations. Leading luxury car
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High-Performance Car Market Size and Forecast 2025-2029
The high-performance car market size estimates the market to reach by USD 512.6 billion, at a CAGR of 10.4% between 2024 and 2029.North America is expected to account for 41% of the growth contribution to the global market during this period. In 2019 the non-electric segment was valued at USD 489.80 billion and has demonstrated steady growth since then.
High-performance luxury vehicles represent the pinnacle of automotive engineering, combining precision handling, powerful drivetrains, and premium design to deliver an elite driving experience. These vehicles are tailored for consumers seeking advanced technology, speed, and exclusivity blending craftsmanship with dynamic performance.
The Product segment is increasingly shaped by electrification trends, as performance-focused electric vehicles (EVs) gain traction. Although traditional combustion engines still dominate, the growing shift toward electric high-performance cars is driving investment in battery technology, extended range, and electric drivetrains that match or exceed conventional performance standards. However, limited model variety and infrastructure constraints continue to challenge widespread adoption.
Luxury automakers are also adopting lightweight materials such as carbon fiber and aluminum to reduce vehicle weight by up to 10%, improving both efficiency and acceleration. These efforts align with global emissions regulations and sustainability goals, particularly in markets with strict compliance requirements.
As lifestyle-driven demand and disposable income rise globally, the high-performance luxury car market is expanding, fueled by innovation in both internal combustion and electric platforms. The push for cleaner, faster, and more technologically advanced models is redefining the segment, with manufacturers competing on both performance and sustainability fronts.
What will be the Size of the High-Performance Car Market during the forecast period?
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The global high-performance vehicle optimization market continues to expand as demand grows for advanced systems that enhance speed, control, and energy efficiency. Companies are integrating tools like advanced telemetry, engine calibration, and performance data logging to fine-tune how vehicles respond to changing road and track conditions. Central to this evolution is the emphasis on chassis setup, aerodynamic drag, and downforce coefficient, which are redefining both speed thresholds and alternative fuel dynamics.
Parameters such as gear shift times, rpm range, torque curve analysis, and traction performance are now optimized in real-time through data acquisition systems, improving the balance between drivetrain efficiency and fuel efficiency. The use of exhaust gas recirculation and real-time throttle response control adds further responsiveness, especially in vehicles designed for demanding applications.
Comparison data shows a 7.2% improvement in acceleration rate and a 4.6% decrease in braking distance among newly optimized models over the past year. Simultaneously, fuel consumption rate was reduced by 5.1% across vehicles with refined weight distribution and center of gravity alignment. These gains were achieved without compromising horsepower output, which remained stable across vehicle classes.
Enhanced control through stability control, lateral acceleration, and steering feel modifications has also led to a 6.3% rise in cornering speed and better longitudinal acceleration under test conditions. Metrics like brake fade, engine temperature, tire pressure monitoring, and tire wear continue to be key focus areas to ensure sustained grip optimization and vehicle performance across diverse operational environments.
How is this High-Performance Car Industry segmented?
The high-performance car industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Product
Non-electric
Electric
Type
Sports Cars
Supercars
Hypercars
Application
Individual
Commercial
Distribution Channel
Dealerships
Direct Sales
Geography
North America
US
Canada
Mexico
Europe
France
Germany
The Netherlands
UK
Middle East and Africa
UAE
APAC
Australia
China
India
Japan
South Korea
South America
Brazil
Rest of World (ROW)
By Product Insights
The non-electric segment is estimated to witness significant growth during the forecast period.
The global high-performance car market continues to advance, shaped by evolving consumer expectations for speed, precision, and driving excitement. Most high-performance vehicles are equipped with gasoline engines due to their l
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UAE New Car Market valued at USD 7 Bn, driven by rising incomes, luxury demand, and EV adoption. Expected growth with government incentives and urbanization.
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The Middle East and Africa (MEA) used vehicle market is experiencing robust growth, fueled by a burgeoning population, rising disposable incomes, and a preference for affordable transportation options. The market's compound annual growth rate (CAGR) exceeding 10% signifies a significant expansion opportunity for stakeholders. While precise market sizing for 2025 is unavailable, a logical estimation based on the provided data and industry trends suggests a market value in the billions of dollars. This growth is driven by factors including increasing urbanization leading to higher vehicle demand, a preference for pre-owned vehicles due to their lower purchase price, and the expanding presence of both organized and unorganized vendors catering to diverse customer segments. The market is segmented by vehicle type (hatchbacks, sedans, SUVs) and vendor type (organized and unorganized dealerships, online marketplaces). SUVs are likely a significant segment, reflecting a regional preference for larger vehicles suitable for varied terrains and family needs. Organized vendors are experiencing increased market share due to their ability to offer financing options, warranties, and better quality assurance, although the unorganized sector still holds a substantial share. Geographic variations within the MEA region are expected. Areas like the GCC (Gulf Cooperation Council) countries, with their higher per capita incomes, are likely to drive significant market volume, while other regions may show slower, but still positive, growth. Challenges remain, however, including the fluctuating prices of used vehicles due to global economic factors, potential restrictions on imports in certain countries, and the need for enhanced vehicle inspection and certification standards to improve consumer trust in the used car market. The presence of major players like Abdul Latif Jameel Motors and Al-Futtaim Group, alongside numerous smaller dealerships and online platforms, indicates a competitive landscape that is poised for further consolidation and innovation in the coming years. This dynamic market presents significant growth potential for investors and businesses capable of navigating the region’s specific economic and regulatory conditions. This comprehensive report provides an in-depth analysis of the Middle East and Africa (MEA) used vehicle market, covering the period from 2019 to 2033. It offers valuable insights into market size, trends, growth drivers, challenges, and future prospects, making it an essential resource for investors, industry professionals, and researchers. With a focus on key segments like hatchbacks, sedans, and SUVs, and vendor types including organized and unorganized players, this report offers a granular view of this dynamic market. The report utilizes data from the base year 2025, with an estimated year of 2025 and a forecast period extending to 2033. The historical period analyzed is 2019-2024. Keywords: MEA used car market, used vehicle market Middle East Africa, used car sales MEA, second-hand car market, pre-owned car market, automotive market MEA, used car dealers MEA, used car prices MEA, SUV used car market, sedan used car market, hatchback used car market, organized used car market, unorganized used car market, digital used car marketplace. Recent developments include: In March 2022, ADIB (Abu Dhabi Islamic Bank) launched the emirates' largest digital car marketplace. Using this digital marketplace, on a single view, consumers can easily search for cars from a wide network of dealers and distributors, schedule a test drive, obtain an insurance quote for the car, and apply for financing for the same. The company discussed the issue with all 775 car dealers in UAE and finally made this digital portal for ease for buyers so that they can have their car from home itself.. Key drivers for this market are: The Increasing Demand for Luxury Cars is Anticipated to Boost the Market. Potential restraints include: Comparatively Limited Market Transparency May Hinder the Market. Notable trends are: Shift towards Unorganized Vendor to Elevate Used Cars Sales In Middle-East and Africa.
The top searched vehicle model with a price above *** thousand Emirati dirhams in the United Arab Emirates for the year 2019 was Mercedes S-Class at about **** thousand searches. During this time total number of unique car listings viewed by buyers was approximately *** thousand.
The annual number of vehicles sold in the United Arab Emirates (UAE) in 2019 was approximately *** thousand vehicles. In comparison, the annual vehicle sales in 2014 were about *** thousand vehicles in the UAE. GCC automotive overview The Gulf Cooperation Council (GCC) region has a dynamic automobile sector that is one of the faster-growing sectors in the region, primarily owing to the growing population and high disposable income coupled with significant infrastructure developments. The largest market in the region is Saudi Arabia as they have the most sales of vehicles and auto parts. Although the sector is likely to experience a slowdown in the short-term due to the current weak economic conditions, the long-term outlook remains strong. The GCC economies are facing challenging times due to reasons like the global economic slowdown and fluctuating oil prices. Just like other sectors, the automobile sector in the GCC saw a drop in sales in 2016 due to the decrease in oil prices and was expected to recover in the following year. Despite a recent slowdown in demand for automobiles in the backdrop of sluggish economic conditions, the region continues to offer immense opportunities in the areas of automotive manufacturing, aftermarket, and new technology development. UAE automotive overview The UAE vehicle market saw an increase in the number of commercial vehicles, reaching ** thousand units in 2019, and a fleet size of passenger cars of almost *** million vehicles in 2018. The demand for vehicles in the country mainly originates from the construction, infrastructure, logistics, tourism, and public transport sectors. The major infrastructure projects in Dubai, such as the Dubai World Expo project, and several other commercial and housing projects caused the commercial vehicles sector to grow in 2019. The UAE is also a profitable market for luxury car brands such as Mercedes, Range Rover, and Porsche due to the high per capita disposable income and favorable insurance and taxing regimes. However, in 2020, the COVID-19 pandemic caused distress in economies worldwide. This was reflected as a sharp decrease in the automotive sales in the UAE, along with the decrease in oil prices in the international market which the UAE’s economy highly depends on. Car sellers started introducing new methods to promote car sales such as online bookings and test drives at the customer’s place of choice.
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Car Rental in UAE Market size was valued at $ 2.46 Bn in 2024 and is expected to reach $ 6.08 Bn by 2032, growing at a CAGR of 12.45% from 2026 to 2032Car Rental in UAE Market: Definition/ OverviewThe car rental market in the UAE is characterized by the provision of vehicles for short-term or long-term use, typically facilitated through rental agencies or digital platforms. It is widely used by both tourists and residents, offering convenience, flexibility, and cost-effective transportation solutions. Rental services are provided for a variety of vehicles, ranging from economy cars to luxury models, catering to diverse customer needs in both leisure and business segments.
The annual rate of change in vehicle sales in the United Arab Emirates (UAE) in 2019 was a decrease of approximately *** percent. In comparison, the annual growth rate of vehicle sales in 2013 was about ** percent in the United Arab Emirates. GCC automotive overview The vehicle market in the Gulf Cooperation Council (GCC) is one of the fundamental sectors of the region. It has undergone persistent growth over the years. The main market of the region is Saudi Arabia as they have the largest new car sales and auto parts segments. The region heavily depends on Japanese and Korean vehicle manufacturers, but it is also a promising market for premium car brands. Premium car brands such as Mercedes, Range Rover, and Porsche started becoming more popular in the United Arab Emirates (UAE) due to the increasing consumer disposable income. On the other hand, the market for used and aftermarket cars has also been growing, especially after the COVID-19 pandemic that has caused people to rethink their spending due to the growing uncertainty in the economies worldwide. UAE automotive overview The UAE’s automotive sector has shown remarkable comebacks since 2008, with vehicle sales exceeding *** thousand units in 2019. The best-selling car brand in UAE in 2019 was Toyota with a market share of ** percent. The conditions in the country are very encouraging for consumers wanting to purchase new vehicles. They have relatively low fuel costs, low import tariffs, and low taxes. Consumers benefit from complimentary insurance and finance options, and a high per capita disposable income that exceeded ** thousand U.S. dollars in 2017. However, following the pandemic in 2020, the market witnessed a drop in sales, and the economy suffered from the fall in oil prices in international markets. The market did not recover for the rest of that year. Nevertheless, car dealerships are attempting a new approach of introducing online bookings, digital services, and job-loss insurance protection to adapt to the crisis and revamp sales again.
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Middle East Car Rental Market size was valued at USD 3.85 Billion in 2024 and is projected to reach USD 7.42 Billion by 2032, growing at a CAGR of 8.5% from 2025 to 2032.
Key Market Drivers Tourism Industry Growth: The growth of the Middle East's tourism sector has significantly boosted the demand for car rentals, as more tourists and businesses seek flexible transportation solutions. This surge in demand aligns with the region’s economic development, particularly in the GCC countries. The World Travel and Tourism Council's 2023 report showed a 42% rise in tourism's contribution to the GCC's GDP, with the UAE leading at 56% growth. The Dubai Tourism Board reported a 38% increase in tourist car rentals in 2023, with an average rental duration of 5.2 days per tourist. Corporate Sector Expansion: The expansion of the Middle East's business ecosystem has significantly increased the demand for corporate car rental services. Companies are turning to rentals for flexible, cost-effective transportation solutions as they focus on operational efficiency and business travel needs. In 2023, corporate car rentals in Saudi Arabia rose by 45%, while business rentals in the UAE grew by 35%. Long-term corporate leasing in the GCC increased by 52%. Digital Transformation: The adoption of mobile apps and digital platforms has significantly enhanced the car rental experience. In 2023, online bookings made up 65% of all car rentals, a 55% increase from 2021, according to the GCC Car Rental Association. This shift towards digital solutions highlights the growing preference for easy, on-the-go vehicle bookings. Additionally, mobile app installations for car rentals across the Middle East grew by 92%, underscoring the region's embrace of technology for streamlined rental services.
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The Middle East online car rental market is experiencing robust growth, driven by the region's expanding tourism sector, rising disposable incomes, and increasing smartphone penetration. The convenience and cost-effectiveness of online bookings compared to traditional offline methods are key factors fueling this expansion. A compound annual growth rate (CAGR) of 10.42% from 2019 to 2024 suggests a significant market expansion. While precise market size figures for 2025 are unavailable, extrapolating from the provided CAGR and considering the consistently high growth in the travel and technology sectors within the Middle East, a reasonable estimate for the 2025 market size would be in the range of $500 million to $700 million. This estimate takes into account factors such as increased tourism during peak seasons, the launch of new online platforms and the adoption of advanced technologies for improved customer experience. Further growth is anticipated through 2033, propelled by ongoing infrastructure development, the increasing popularity of self-drive options, and the emergence of innovative car rental services such as subscription models and peer-to-peer car sharing platforms. The market segmentation reveals strong demand across various categories, with online booking dominating over offline methods, leisure tourism outweighing daily utility bookings, and a preference for both economy and luxury vehicles, depending on customer needs and travel styles. While challenges remain, such as regulatory hurdles in certain markets and the need to address consumer concerns regarding transparency and data security, the overall outlook for the Middle East online car rental market remains overwhelmingly positive, presenting substantial opportunities for established players and new entrants alike. Recent developments include: November 2022: Zofeur launched its first business-to-business on-demand driver service in Dubai. Zofeur is the world's first platform for on-demand, pay-per-minute chauffeur services. With Zofeur's B2B tool, automotive service providers can seamlessly integrate their systems with Zofeur to book pay-per-use on-demand drivers., November 2022: DFM's partner and exclusive distributor in Qatar delivered Dongfeng passenger vehicles in volume to a luxury car rental company. These vehicles will serve guests worldwide during the soccer extravaganza in Doha., July 2022: Following its plans to expand to all of Saudi Arabia's cities, regions, and provinces, Theeb Rent-A-Car opened its second location in Hail City, northwest of the country. According to a statement, the company plans to improve its services to individuals, businesses, and government agencies in this manner., March 2022: After Oman, the technology platform for renting cars, Selfdrive, is opening offices in Qatar and Bahrain. With the app's wide range of product options and seamless customer experience, the company hopes to gain 50-65% of the digital rental market share in these markets.. Notable trends are: Online Rental Booking Continues to Witness Major Demand.
The number of passenger cars sold in 2023 in the United Arab Emirates (UAE) exceeded *** thousand vehicles. Toyota dominated the market of passenger cars in the UAE.
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The UAE luxury car market attained a value of USD 4.45 Billion in 2024 and is projected to expand at a CAGR of around 5.60% through 2034. A key factor propelling growth of the UAE luxury car market is the country's multicultural customer base, which revolves around unique consumer tastes and expectations. Luxury automobile dealerships address this diversity by stocking a multitude of brands and models, guaranteeing they meet the unique requirements of their customers. This encompasses focusing more on comfort, high-tech features, sportiness, and power to cater to different cultural preferences and lifestyle options. These customized products strengthen the appeal of luxury car ownership in the cosmopolitan UAE ecosystem, thereby pushing the industry to attain a value of USD 7.67 Billion by 2034.
Another distinctive factor propelling growth in the UAE market for luxury cars is the growth in billionaire fortunes, which expanded by 39.5% in 2024 to USD 138.7 billion, in combination with the arrival of more than 6,700 new millionaires. This growth of high-net-worth individuals drives demand for high-end cars such as Rolls-Royce, Bentley, and Lamborghini, usually customized to represent personal status. Favourable tax policies and low import tariffs further enhance the appeal of luxury automobile ownership, cementing the UAE's position as a top destination for high-end car purchases.
The UAE luxury car market is changing at a fast pace with innovations aimed at electric and autonomous cars. Automakers are launching advanced electric vehicles with longer ranges and quicker charging times, thus augmenting the UAE luxury car market expansion. Autonomous driving technology is gaining traction, with brands incorporating AI-driven safety features. Connectivity via smart infotainment and over-the-air updates improves user experience. Customization choices are growing as consumers demand personalized cars. Government efforts, such as installing 1,200 EV charging points by 2025, aid market expansion. These trends reflect the UAE's dedication to smart mobility and green technology and its positioning as a Middle East luxury electric vehicle innovation hub.