Egypt Passenger Car Market Overview
Egypt Passenger Car market witnessed a steady growth during 2017-18 however encountered a decline in 2019 owing to the volatility of the car market following the implementation of the Egyptian-European partnership agreement, the declining prices of the US Dollar against the Egyptian Pound and boycotting campaigns against cars. Further, the sudden outbreak of the Covid-19 pandemic resulted in supply chain disruptions in the beginning of 2020 but the sales of passenger cars increased eventually during that year in Egypt. The developing vehicle financing market has been fostering the sales of passenger cars accompanied by soaring population, growing disposable income, urbanization and ease of accessibility of credit and funding for passenger cars. In addition, the market is estimated to experience improved demand for passenger cars from the booming logistics and passenger transport sector. Government projects and policies are also affecting Egypt passenger car market growth and are estimated to upkeep the growth over the near future.
According to 6Wresearch, Egypt Passenger Car Market size is projected to grow at a CAGR of 10.2% during 2021-2027. Rising population along with increased standard of living are the primary reasons contributing to the rising demand for passenger cars in Egypt. Large Egyptian population suggest long-term potential in automotive industry with increase in disposable income of households, a car is no longer considered a luxury but rather a necessity and the reliance on privately owned vehicle is witnessing escalation with rising living standards of people in metropolitan cities of Egypt. In the last five years, Egypt has seen around 10% rise in urban population owing to preferable job opportunities, better quality of schools, improved living standards along with enhanced quality of life. The increasing number of people migrating towards urban areas has resulted in the rise in demand for transportation facilities, eventually leading to the rise in the requirement of passenger cars.
Market by Origin Analysis
By Origin, Non-Chinese passenger cars dominated the market volume in Egypt’s passenger cars market as European cars attributed to 49% of the imported cars in Egypt during the first half of 2019, with Renault standing as the highest imported passenger vehicle to Egypt.
Key Highlights of the Report
- Egypt Passenger Car Market Overview
- Egypt Passenger Car Market Outlook
- Egypt Passenger Car Market Trends
- Egypt Passenger Car Market Forecast
- Porter’s Five Force Analysis
- Impact Analysis of COVID-19
- Market Drivers and Restraints
- Industry Life Cycle
- Company Profiles
- Key Strategic Recommendations
- Egypt Passenger Car Market Share, By Companies
- Competitive Benchmarking
- Historical Data and Forecast of Egypt Passenger Car Market Volume, By Chinese Origin Vs. Non-Chinese Origin, for the Period 2017-2021E
- Historical Data and Forecast of Egypt Passenger Car Market Volume, By Products, By Imported Vs. Locally Manufactured for the Period 2017-2021E
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