The automotive industry plays an important role in a country’s socio-economic development. The development of any country is usually measured on the basis of the growth of the automotive industry. As the country’s growth forces, the development of the modern economy and the prospects for its development is determined by the place of motor transport in the infrastructure of the national economy.
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Data Bridge Market Research analyses that the Saudi Arabia Automotive Market is expected to grow at a CAGR of 3.8% in the forecast period of 2023 to 2030 and is expected to reach USD 15,821.32 million by 2030. Increase in the number of small and medium enterprises (SME) across the region.
Rise in the average income of the population
The automotive industry plays an important role in a country’s socio-economic development. The development of any country is usually measured on the basis of the growth of the automotive industry. As the country’s growth forces, the development of the modern economy and the prospects for its development is determined by the place of motor transport in the infrastructure of the national economy.
Moreover, the growth in the manufacturing industries and communication systems is supporting capital accumulation across the region. In addition, Saudi Arabia is the region with oil fields, and this has helped the country to boost its GDP value at a greater pace. Moreover, the Chinese market is rich in capital investment and provides higher productivity which will support the growth of economic conditions for the country.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2020-2016)
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Quantitative Units
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Revenue in Million, Volumes in Units, and Pricing in USD
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Segments Covered
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By Type (Passenger Vehicle and Commercial Vehicle), fuel type (Petrol, Diesel, Electric and Others), Drivetrain (Rear Wheel Drive, Front Wheel Drive and All Wheel Drive), Pricing (Medium, High and Premium), Engine Capacity (1000-3000 CC, Less than 1000 CC, 3000-5000 CC and More than 5000 CC), Sales Channel (Company Showroom, Dealer and Online).
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Countries Covered
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China and Saudi Arabia
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Market Players Covered
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BMW AG, Ford Motor Company, MITSUBISHI MOTORS CORPORATION, ISUZU MOTORS LIMITED, Volkswagen AG, Mercedes-Benz Group AG, AB Volvo, Stellantis NV, BAIC, TOYOTA MOTOR CORPORATION, Hyundai Motor Company, General Motors, SAIC Motor Corporation Limited, Renault Group, ASHOK LEYLAND, Snam.com.sa, Eicher Motors Limited, Chery, JAC Motors, Tesla, Honda Motor Co., Ltd., Changan Automobile Company Limited, Tata Motors, Mahindra & Mahindra Ltd., BYD, Great Wall Motor, Suzuki Motor Corporation, and Geely Auto, among others.
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, and pipeline analysis. Pricing analysis and regulatory framework.
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Segment Analysis:
China and Saudi Arabia automotive market is segmented into six notable segments, which are based on type, fuel type, drivetrain, pricing, engine capacity and sales channel.
Based on type, the China automotive market is segmented into passenger vehicle and commercial vehicle. In 2023, the passenger vehicle segment is expected to dominate the China automotive market with 76.89% market share and is expected to reach USD 578,385.13 million by 2030, growing with the highest CAGR of 6.9% in the forecast period of 2023 to 2030.
Based on type, the Saudi Arabia automotive market is segmented into passenger vehicle and commercial vehicle. In 2023, the passenger vehicle segment is expected to dominate the Saudi Arabia automotive market with 78.88% market share and is expected to reach USD 12,573.04 million by 2030, growing with the highest CAGR of 3.9% in the forecast period of 2023 to 2030.
Based on fuel type, the China automotive market is segmented into petrol, diesel, electric and others. In 2023, the petrol segment is expected to dominate the China automotive market with 66.30% market share and is expected to reach USD 496,214.06 million by 2030, growing with the highest CAGR of 6.8% in the forecast period of 2023 to 2030.
Based on fuel type, the Saudi Arabia automotive market is segmented into petrol, diesel, electric and others. In 2023 petrol segment is anticipated to dominate the Saudi Arabia automotive market with 57.24% market share and is expected to reach USD 9,090.21 million by 2030, growing with the highest CAGR of 3.8% in the forecast period of 2023 to 2030.
Based on the drivetrain, the China automotive market is segmented into rear wheel drive, front wheel drive and all wheel drive. In 2023, rear wheel drive is expected to dominate the China automotive market with 42.29% market share and is expected to reach USD 330,426.77 million by 2030, growing with the highest CAGR of 7.5% in the forecast period of 2023 to 2030.
Based on the drivetrain, the Saudi Arabia automotive market is segmented into rear wheel drive, front wheel drive and all wheel drive. In 2023, rear wheel drive is expected to dominate the Saudi Arabia automotive market with 42.29% market share and is expected to reach USD 7,007.81 million by 2030, growing with the highest CAGR of 4.4% in the forecast period of 2023 to 2030.
Based on pricing, the China automotive market is segmented into medium, high and premium. In 2023, the medium segment is expected to dominate the China automotive market with 47.54% market share and is expected to reach USD 372,046.33 million by 2030, growing with the highest CAGR of 7.5% in the forecast period of 2023 to 2030.
Based on pricing, the Saudi Arabia automotive market is segmented into medium, high and premium. In 2023, the medium segment is expected to dominate the Saudi Arabia automotive market with 47.54% market share and is expected to reach USD 7,890.49 million by 2030 growing with the highest CAGR of 4.5% in the forecast period of 2023 to 2030.
Based on engine capacity, the China automotive market is segmented into 1000-3000 cc, less than 1000 cc, 3000-5000 cc and more than 5000 cc. In 2023, 1000-3000 cc is expected to dominate the China automotive market with 38.25% market share and is expected to reach USD 303,077.95 million by 2030 growing with the highest CAGR of 7.7% in the forecast period of 2023 to 2030.
Based on engine capacity, the Saudi Arabia automotive market is segmented into 1000-3000 cc, less than 1000 cc, 3000-5000 cc and more than 5000 cc. In 2023, 1000-3000 cc is expected to dominate the Saudi Arabia automotive market with 38.25% market share and is expected to reach USD 6,427.79 million by 2030 growing with the highest CAGR of 4.7% in the forecast period of 2023 to 2030.
Based on sales channel, the China automotive market is segmented into company showroom, dealer and online. In 2023, company showroom is expected to dominate the China automotive market with 56.68% market share and is expected to reach USD 436,870.01 million by 2030 growing with the highest CAGR of 7.3% in the forecast period of 2023 to 2030.
Based on sales channel, the Saudi Arabia automotive market is segmented into company showroom, dealer and online. In 2023, company showroom is expected to dominate the Saudi Arabia automotive market with 56.68% market share and is expected to reach USD 9,265.30 million by 2030 growing with the highest CAGR of 4.2%in the forecast period of 2023 to 2030.
Major Players
Data Bridge Market Research recognizes the following companies as the major venous diseases treatment market players in China and Saudi Arabia automotive market are BMW AG, Ford Motor Company, MITSUBISHI MOTORS CORPORATION, ISUZU MOTORS LIMITED, Volkswagen AG, Mercedes-Benz Group AG, AB Volvo, Stellantis NV, BAIC, TOYOTA MOTOR CORPORATION, Hyundai Motor Company, General Motors, SAIC Motor Corporation Limited, Renault Group, ASHOK LEYLAND, Snam.com.sa, Eicher Motors Limited, Chery, JAC Motors, Tesla, Honda Motor Co., Ltd., Changan Automobile Company Limited, Tata Motors, Mahindra & Mahindra Ltd., BYD, Great Wall Motor, Suzuki Motor Corporation, and Geely Auto, among others.
Market Developments
- In December 2022, Mitsubishi Corporation announced that the company had expanded its business segment in Saudi Arabia by opening a local assembly of light-duty canter trucks. This step has allowed the company to expand its diesel buses segment as well in the region under the Saudi Arabia diesel bus market by providing services and support for the offered products.
- In December 2022, AUDI AG, a subsidiary of Volkswagen AG, announced the launch of the new edition of RS Q8. This new car is diversifying the offering portfolio of the company and helps to offer a wide range of offerings to the customers, which helps to strengthen the market position in the region.
- In December 2022, Stellantis NC announced the partnership with Qinomic to develop a retrofit solution to convert Light Commercial Vehicles with an internal combustion engine to an electric drivetrain. This partnership will help the company to deploy better solutions for automotive and attract new customers.
- In December 2022, Mercedes-Benz Group AG announced the launch of the Mercedes-Benz AMG E 53 Cabriolet. This will help the company to diversify its product portfolio and enhances the sales growth.
COVID-19 Impact Analysis
COVID-19 created a negative impact on the China and Saudi Arabia automotive market due to the shutdown of the global manufacturing sector, logistics and transportation, and lack of testing for the product.
The COVID-19 pandemic has negatively impacted the market upto an extent. However, rapid product launch and product expansion by market players and the advantages of diesel buses over other types of buses is expected to act as a driving factor for market growth and also help the market to grow during and after the pandemic. Also, the growth has been high since the market opened after COVID-19, and it is expected that there will be considerable growth in the sector. The market players are conducting multiple R&D activities to improve the technology involved in the product. With this, the companies will bring advancement and innovation to the market. In addition, government funding for AGM batteries has led to market growth.
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