UAE Used Car Market Size (2024 - 2029)

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.

UAE Used Car Industry Segmentation

A pre-owned vehicle or a secondhand car is a vehicle that has previously had one or more retail owners. A certified pre-owned (CPO) vehicle is a pre-owned vehicle that has been extensively inspected (pre-purchase inspection) and expertly reconditioned.

The United Arab Emirates used car market is segmented by vehicle type, vendor type, booking type, and fuel type. By Vehicle type, the market is segmented into hatchbacks, sedans, and sports utility vehicles (SUVs) and multi-purpose vehicles (MPVs). By vendor type, the market is segmented into organized and unorganized. By booking type, the market is segmented into online and offline. By fuel type, the market is segmented into petrol, diesel, and others. For each segment, market sizing and forecasting are done on the basis of value (USD).