UAE Certified Pre-Owned Car Market Size Witnesses Robust Growth Rate of CAGR 8. 6%, Exceeding US$ 9. 2 Billion by 2028 12-27-2023 06:46 AM CET | Logistics & Transport Press release from: IMARC Group UAE Certified Pre-Owned Car Market IMARC Group’s report titled ” UAE Certified Pre-Owned Car Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “.
The UAE certified pre-owned car market size reached US$ 5. 6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.
2 Billion by 2028, exhibiting a growth rate (CAGR) of 8. 6% during 2023-2028. Factors Affecting the Growth of the UAE Certified Pre-Owned Car Industry: • Economic Stability and Consumer Confidence: The United Arab Emirates (UAE) boasts a robust economic environment characterized by stability and growth.
This economic backdrop significantly influences the certified pre-owned car industry. Consumers in a stable economy often exhibit higher confidence, which translates into an increased willingness to invest in big-ticket items, including automobiles. The UAE’s economic strength, derived from diverse sectors like oil, tourism, and real estate, ensures a consistent flow of disposable income among residents.
This financial assurance encourages consumers to opt for certified pre-owned cars, which offer a balance between quality and value. Moreover, the economic prosperity of the UAE attracts expatriates, further expanding the potential customer base for this market. (adsbygoogle = window.
adsbygoogle || []). push({}); • High Standards of Vehicle Certification: The quality and reliability of certified pre-owned cars in the UAE are other major growth drivers. Stringent certification processes ensure that these vehicles meet high standards of performance and safety, making them an attractive option for buyers.
This certification is typically conducted by authorized dealers or manufacturers, providing a guarantee of the car’s condition. The thorough inspection and refurbishment process, which includes mechanical and cosmetic fixes, significantly boosts consumer trust in these vehicles. This trust, in turn, stimulates market growth as buyers are more likely to invest in a pre-owned vehicle that is certified, thus reducing the risk typically associated with used cars.
• Technological Advancements and Online Platforms: The integration of technology in the UAE’s automotive industry is a key factor fueling the growth of the certified pre-owned car sector. Advanced online platforms and digital tools have transformed the way customers search for and purchase pre-owned vehicles. These platforms offer comprehensive information, virtual tours, and detailed histories of vehicles, enhancing transparency and convenience.
Additionally, technological advancements in automotive engineering have extended the lifespan and reliability of vehicles, making pre-owned cars more appealing. The combination of accessible online resources and improved vehicle quality has streamlined the buying process, thus attracting a broader demographic of tech-savvy consumers and facilitating the growth of the pre-owned car market in the UAE. For an in-depth analysis, you can refer sample copy of the report: https://www.
imarcgroup. com/uae-certified-pre-owned-car-market/requestsample Leading Companies Operating in the UAE Certified Pre-Owned Car Industry: • AlbaCars • Al-Futtaim • Al Naboodah Group (Saeed & Mohammed Al Naboodah Holding LLC) • AL Tayer Group • AW Rostamani Group • Car Switch Dubai • Dubicars International FZ-LLC • Dubizzle Middle East FZ-LLC • The Elite Car. UAE Certified Pre-Owned Car Market Report Segmentation: By Car Type: • Hatchback • Sedan • Sports Utility Vehicle • Others Based on the car type, the market has been classified into hatchback, sedan, sports utility vehicle, and others.
By Car Age: • 0-4 Years • 4-8 Years • More than 8 Years On the basis of the car age, the market has been divided into 0-4 years, 4-8 years, and more than 8 years. By Fuel Type: • Diesel • Petrol • Others The market has been segmented based on the fuel type into diesel, petrol, and others. By Vendor Type: • Organized • Unorganized Based on the vendor type, the market has been bifurcated into organized and unorganized.
By Distribution Channel: • Online • Offline On the basis of the distribution channel, the market has been categorized into online and offline. Regional Insights: • Abu Dhabi • Dubai • Sharjah • Ajman • Others Region-wise, the market has been segregated into Abu Dhabi, Dubai, Sharjah, Ajman, and Others. Ask Analyst for Customization: https://www.
imarcgroup. com/request?type=report&id=6090&flag=C UAE Certified Pre-Owned Car Market Trends: The certified pre-owned car market in UAE is witnessing a rising trend toward digitalization, with online platforms becoming increasingly pivotal in consumer decision-making. Enhanced digital interfaces offer detailed car histories, virtual tours, and streamlined purchasing processes, attracting a tech-savvy customer base.
Additionally, there is a growing preference for luxury and high-end pre-owned vehicles, driven by the country’s affluent consumer segment. Environmental consciousness is also emerging as a key trend, with a rise in demand for electric and hybrid pre-owned cars. These market dynamics reflect a blend of technological advancements, luxury orientation, and sustainability awareness, shaping the UAE’s pre-owned car industry.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization. Browse More:- https://www. digitaljournal.
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com/pr/news/imarc/travel-retail-market-report-2023-2028-industry-overview-size-share-growth-trends-analysis Contact Us: IMARC Group Email: sales@imarcgroup. com USA: +1-631-791-1145 | Asia: +91-120-433-0800 Address: 134 N 4th St. Brooklyn, NY 11249, USA Follow us on Twitter: @imarcglobal About Us: IMARC Group is a leading market research company that offers management strategy and market research worldwide.
We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations. This release was published on openPR.
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