Egypt Used Car Market to be Dominated by Fuel Type Segment till 2027
Growing demand for used car as they are cost effective to
drive the used car market through forecast period.
According
to TechSci Research report, “Egypt Used Car Market - By Region, Competition
Forecast & Opportunities, 2027”,
the Egypt used car is expected to witness growth at a significant rate in
2023-2027. A used car refers to a second-hand, or used automobile, which is
refurbished and made available for resale. The process of selling an old
vehicle involves identifying the flaws in the vehicle, repairing, and
refurbishing it to working conditions and listing it for sale. The shifting
consumer preference towards used or refurbished cars is further driving the growth
of the market. In addition to this, individuals residing in urban areas and
metropolitan cities prefer to own multiple vehicles for improved mobility and
convenience supports the market growth. With this, the increase in workforce
participation among females especially in the developing countries like Egypt
escalating the demand for used cars. The enhancement in the organized retail
channels of used cars is fueling the growth of the market. Several automobile
manufacturers and retailers are utilizing online platforms to connect and trade
with the consumers with ease of operations. The growing utilization of
blockchain technologies to store and preserve the maintenance history record of
the carbon footprint of the used cars is acting as another significant
growth-inducing factor. Automobile manufacturers also use several advanced
technologies to obtain digitized recommendations regarding the vehicle health
and generate performance reports. Some of the factors driving the market growth
include rising expenditure capacities of the consumers and the increasing
demand for used luxury cars.
However,
unorganized sales of used cars and lack of regularizations is anticipated to
limit the growth of the used car market in the coming years.
Browse over XX market
data Figures spread through 70 Pages and an in-depth TOC on "Egypt
Used car Market"
The
Egypt used car market is segmented into vehicle type, fuel type, end use,
regional distribution, and competitive landscape.
Based
on fuel type, the market is segmented into petrol/gasoline, diesel, others. Petrol/gasoline
segment is expected to hold the largest revenue in the market in the coming
years, 2023-2027. This is due to the declining usage of diesel-based vehicles
which supports the growth. Furthermore, the government authorities of various
regions have issued stringent regulations for the diesel-powered vehicles, triggers
the market growth for alternate fuel sources.
Based
on end use, the market is bifurcated into institutional, individual. Individual
segment is anticipated to dominate the market in the forecast years, 2023-2027.With
majority of independent dealer in the country, the used car market is dominated
by unorganized and Semi-organized dealers. Less-aged cars and popular brands
with good resale value are highly valued by the leading participants.
Several
key market players operating in the Egypt used car market is:
- CarSemsar
- contactcars.com
- El Masria Auto
- El Hawi Auto Trade
- MM Group for Industry & Intl. Trade
- El Qersh Trade
- Alfa Motors
- Auto Rimo
- Meme Auto Trade
- Al Maadi Company
Download Sample Report
Customers can also request for
10% free customization on this report.
“The significant role of
online sales has become a crucial growth factor in the market. Online sites in
automobile marketplaces have played an essential role in bringing access to
consumers with a single touch. A combination of such developments created a significant
increase in the demand for used cars. In addition to this, numerous factors
such as affordability, the availability of used cars, the inflating need for
personal mobility, and the emergence of several online players to organize the
market are further leading to the growth of the market growth. Continuous
technological breakthroughs including the development of the internet and the
launch of hybrid and used cars have changed the buyer position in the market
which supports the market growth. Factors such as transparency and symmetry of
the information among the consumers and buyers, the online sales channel
growth, certified used vehicle programs, and the strong position of franchise
dealers plays a strong role in augment the market for used cars towards growth.
Several leading companies have set up online and offline stores worldwide to
offer seamless used car buying experiences which is projected to accelerate the
market growth till 2027.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm”.
“Egypt Used Car Market By Vehicle Type (Small Cars,
Mid-Size Cars, Luxury Cars), By Fuel Type (Petrol/Gasoline, Diesel, Others), By
End Use (Institutional, Individual), By Region, Competition Forecast &
Opportunities, 2027 has analyzed the future growth potential
of Egypt used car market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and assist decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with significant drivers, challenges, and opportunities
in Egypt used car market.
Contact
Mr. Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]
Web:
https://www.techsciresearch.com