Market Size of UAE Used Car Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 18.39 Billion |
| Market Size (2029) | USD 32.03 Billion |
| CAGR (2024 - 2029) | 11.73 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UAE Used Car Market Analysis
The UAE Used Car Market size is estimated at USD 18.39 billion in 2024, and is expected to reach USD 32.03 billion by 2029, growing at a CAGR of 11.73% during the forecast period (2024-2029).
The United Arab Emirates used car market has been growing steadily over the years and has become a key part of the automotive industry. Factors driving the growth of the used car market include affordability, availability, quality of used cars, the large number of expatriates, and consumer preferences. However, price discrepancies, lack of standardization, and others are expected to act as major restraints to the growth of the market.
The used car market in the United Arab Emirates is expected to continue to grow, driven by factors such as affordability, availability, and changing consumer preferences. However, the exact scope of future growth will depend on a variety of factors, including the overall health of the economy, consumer preferences, and government policies affecting the automotive industry.
The used car market in the United Arab Emirates is driven by the country’s vibrant travel and tourism industry. Tourists and locals alike prefer these versatile used vehicles for their spacious interiors, accommodating both passengers and luggage comfortably.
Due to the increasing digitization and the ability of companies to provide immersive purchase experiences remotely, the United Arab Emirates used car market is expected to witness significant growth. Furthermore, the rise in the value-added service offering and the variety of finance providers offering credit for used cars will also contribute to the growth of the used car market in the country.
