Egypt Automotive Market (2024-2030) | Value, Size, Outlook, Trends, Share, Growth, Industry, Analysis, Companies, Forecast & Revenue

 

Egypt Automotive Market Highlights

Report Name	Egypt Automotive Market
Forecast Period	2024-2030
CAGR	6.5%
Growing Sector	Automotive

Topics Covered in the Egypt Automotive Market Report

Egypt Automotive Market report thoroughly covers the market by product type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Egypt Automotive Market Synopsis

Egypt automotive market has been thriving over the years with continuous growth and development. The country's strategic location, along with its large consumer base and skilled labor force, makes it an attractive destination for automotive manufacturers. Additionally, the growing demand for vehicles and increasing disposable income among the population have also contributed to the growth of the automotive industry in Egypt.

According to 6Wresearch, the Egypt Automotive Market size is estimated to reach at a CAGR of 6.5% during the forecast period 2024-2030. The Egyptian government has been actively promoting foreign investment in the automotive industry by providing incentives such as tax exemptions and favorable trade policies. This has led to a significant increase in the number of automotive factories in Egypt, which has further boosted the market growth.  Despite its rapid growth, the Egypt automotive market growth is hampered by some ongoing challenges. Such as the lack of local production capabilities and the high import tariffs and taxes imposed by the government, which can significantly impact the pricing of vehicles in Egypt. However, with some emerging trends, the market is securing a massive growth prospect such as the rising shift towards electric and hybrid vehicles, as the government promotes eco-friendly practices and offers incentives for their purchase. The increasing popularity of ride-sharing services has also influenced the market, with more demand for affordable and fuel-efficient vehicles. Moreover, advancements in technology have also led to the introduction of innovative features in cars, such as autonomous driving and connected services, which are becoming more prevalent in the Egyptian market.

Government Initiatives Introduced in the Egypt Automotive Market

The Egyptian government has introduced a variety of supportive measures. These include the establishment of the Egyptian Automotive and Trading Company (EATC) which aims at promoting the local assembly of cars to meet domestic demand and reduce reliance on imports. The government's long-term strategy also involves providing tax incentives for the manufacturers of components locally and investing in the necessary infrastructure to support electric vehicles, such as charging stations.

Key Players in the Egypt Automotive Market

Major international brands like Chevrolet, Hyundai, and Toyota have a strong presence, often through joint ventures or partnerships with Egyptian businesses. On the local front, organizations such as GB Auto and the El Nasr Automotive Manufacturing Company stand as influential players in the market, involved in a wide range of activities from assembly to after-sales services.

Future Insights of the Egypt Automotive Market

The Egypt automotive industry is poised to undergo significant transformation. The government's focus on upgrading local production facilities, combined with the trend towards electric and hybrid vehicles, signals a move towards a more sustainable and self-sufficient industry. The Egypt to become a regional hub for automotive production with the increasing population growth and demand for automobiles.

Market Analysis by Product Type

According to Dhaval, Research Manager, 6Wresearch, electric and hybrid vehicles are the only segments generating substantial growth within the Egypt automotive market. With the country's commitment to sustainability and green energy, electric vehicles (EVs) have gained traction, supported by government incentives and the growing availability of charging infrastructure. Hybrids and plug-in hybrid electric vehicles (PHEVs) also see increasing adoption, aligning with global environmental trends and consumer demand for more fuel-efficient transportation.

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Egypt Automotive Market Outlook
• Market Size of Egypt Automotive Market, 2023
• Forecast of Egypt Automotive Market, 2030
• Historical Data and Forecast of Egypt Automotive Revenues & Volume for the Period 2020 - 2030
• Egypt Automotive Market Trend Evolution
• Egypt Automotive Market Drivers and Challenges
• Egypt Automotive Price Trends
• Egypt Automotive Porter's Five Forces
• Egypt Automotive Industry Life Cycle
• Historical Data and Forecast of Egypt Automotive Market Revenues & Volume By Product Type for the Period 2020 - 2030
• Historical Data and Forecast of Egypt Automotive Market Revenues & Volume By Electric for the Period 2020 - 2030
• Historical Data and Forecast of Egypt Automotive Market Revenues & Volume By Hybrid Electric for the Period 2020 - 2030
• Historical Data and Forecast of Egypt Automotive Market Revenues & Volume By Plug-In Hybrid Electric for the Period 2020 - 2030
• Historical Data and Forecast of Egypt Automotive Market Revenues & Volume By Mild Hybrid for the Period 2020 - 2030
• Historical Data and Forecast of Egypt Automotive Market Revenues & Volume By Natural Gas for the Period 2020 - 2030
• Historical Data and Forecast of Egypt Automotive Market Revenues & Volume By Fuel Cell Electric for the Period 2020 - 2030
• Historical Data and Forecast of Egypt Automotive Market Revenues & Volume By Diesel for the Period 2020 - 2030
• Historical Data and Forecast of Egypt Electric Automotive Market Revenues & Volume By Petrol for the Period 2020 - 2030
• Egypt Automotive Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Egypt Automotive Top Companies Market Share
• Egypt Automotive Competitive Benchmarking By Technical and Operational Parameters
• Egypt Automotive Company Profiles
• Egypt Automotive Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Electric
• Hybrid Electric
• Plug-In Hybrid Electric
• Mild Hybrid
• Natural Gas
• Fuel Cell Electric
• Diesel
• Petrol

Egypt Automotive Market (2024-2030): FAQs