Qatar Auto Finance Market Outlook to 2026F
Driven by Increasing Vehicle Prices and Low-Interest Rate In The Country
- KR1211
- Slides: 63
- October 2022
- Author(s): Giri Bansal, Faqiha Frozan and Anoushka Chawla
- Total Views: 2010
- Region : Middle East
- Ken Research
- Market Research Report
About the Report
About the Report
Detailed Analysis of the Qatar Auto Finance Market:
Qatar Auto Finance Market is in maturity stage as there is moderate growth owing to rising demand for two wheeler vehicle. QNB is leading and oldest Bank in Qatar with maximum contribution in the development of country. Expatriate population has been reducing in the country since last few years as the government is disincentivizing hiring of foreign national, leading to lack of opportunities. This has caused reduction in demand for auto loans by expats and decline in the growth rate of the Qatar auto finance market.
However, the rise in the sale of motorcycles for online food delivery business is contributing to the recovery of the Auto Finance sector in the country post-COVID-19. After covid-19, many countries have seen a rise in the spending expenditure of their citizen which is helping many economies to grow back to normal. Moreover, banks are providing 100% and 80% finance for electric and hybrid cars/vehicles to Qatari customers and ex-pats to reward them for making an environmentally-friendly choice. This is expected to attract consumers to opt for auto financing in the country.
Qatar Auto Finance Market Segmentations:
- By Type of Lenders: NBFCs, Banks, and OEMs are the main lenders in Qatar. Captive financing was dominant in the Saudi market 10-15 years back, after which Banks and Finance Companies saw potential in the market and entered it. Banks and NBFCs saw potential in the market and started entering it.
- By Type of Vehicle Financed: New vehicle contributed the highest share in credit disbursed by generating due to simple and flexible finance conditions in the country. Used Vehicle Market have a greater demand simply because they are used as an alternative transport method rather than the primary one since the public transport infrastructure is not yet developed.
- By Tenure of New and Old Vehicles: Majorly auto loans are taken for a duration of 3-4 years. The new vehicles usually have longer loan tenure of more than 4 years. The used vehicles usually have shorter loan tenure of up to 4 years.
- By Type of Passenger Motor Vehicle: Unlike South Asian countries where almost every household has a two-wheeler, the Qatar market is regaining at a steady rate due to increasing demand for personal vehiclespost-Covid era especially 4-wheeler. The sale of the new vehicle is expected to improve with the adoption of electric vehiclewhich is environmentally friendly
Qatar Auto Finance Market Future Outlook and Projections: Qatar will host the FIFA World Cup 2022 which is expected to increase the tourist flow in the country. Approximately 1000+ thousand tourists are expected to arrive in Qatar by the end of 2022. Tourist flow will directly benefit the local business and automobile sector of the country. HCV shows the highest growth in the coming years with increasing construction projects in the country. The research shows that 2-Wheeler vehicle is expected to grow at the highest CAGR due to increasing online delivery for food. Also, the industry is moving towards digital advancement and technologies such as AI and ML to improve efficiency. Many new players, mostly fin-tech companies are entering the market with digital wallets and offering products like BNPL to the country.
Key Segments Covered
- By Type of Vehicle financed
- New
- Used
- By Tenure (for New and OldVehicles):
- 1 year
- 2 years
- 3 years and more
- By Type of Lender:
- Banks
- OEMs/Captives
- NBFC
- By Type of Lending Bank:
- Government
- Private
- By Type of Commercial and Passenger Motor Vehicle:
- Commercial
- Passenger
- By type of commercial motor Vehicle:
- LMVMCVHCV
- By Type of passenger motor vehicle
- 4W
- 2W and others
- Qatar Auto Industries
- Government Bodies & Regulating Authorities
- Finance Industry
- Car company
- Automobile dealers and users
- Historical Year: 2016-2021
- Base Year: 2021
- Forecast Period: 2021– 2026F
- Qatar National Bank
- Doha Bank
- Commercial Bank
- Al khaliji commercial bank
- Ahli bank
- Qatar Islamic International Bank
- Qatar Islamic Bank
- Dukhan bank
- Masraf Al Rayan
- HSBC
- Standard Chartered Check
- International Bank of Qatar
- First Finance Company
- Al Jazeera Finance
- Qatar Automotive Market Overview
- Ecosystem of Qatar Auto Finance Market
- Qatar Auto Finance Value Chain Analysis
- Business Cycle and Timeline of Major Banks in Qatar Auto Finance Market
- Market Sizing Analysis of Qatar Auto Finance Market, 2016-2021
- Qatar Auto Finance Market Segmentation
- SWOT Analysis of Qatar Auto Finance Industry
- Trends and Developments in Qatar Auto Finance Industry
- Decision Making Parameter for Selecting Car Loan Vendor
- Issues and Challenges in Qatar Auto Finance Industry
- Growth Drivers of the Qatar Auto Finance Market
- Government Policies and Initiatives for Qatar Auto Finance Industry
- COVID-19 Impact on Qatar Auto Finance Market
- Competition Framework for Qatar Auto Finance
- Future Outlook and Projections of the Qatar Auto Finance Market
- Market Opportunities and Analyst Recommendations
Products
Products
Key Segments Covered
Qatar Auto Finance:
- By Type of Vehicle financed
- New
- Used
- By Tenure (for New and OldVehicles):
- 1 year
- 2 years
- 3 years and more
- By Type of Lender:
- Banks
- OEMs/Captives
- NBFC
- By Type of Lending Bank:
- Government
- Private
- By Type of Commercial and Passenger Motor Vehicle:
- Commercial
- Passenger
- By type of commercial motor Vehicle:
- LMVMCVHCV
- By Type of passenger motor vehicle
- 4W
- 2W and others
Key Target Audience
- Qatar Auto Industries
- Government Bodies & Regulating Authorities
- Finance Industry
- Car company
- Automobile dealers and users
Time Period Captured in the Report:
- Historical Year: 2016-2021
- Base Year: 2021
- Forecast Period: 2021– 2026F
Companies
Companies Covered:
- Qatar National Bank
- Doha Bank
- Commercial Bank
- Al khaliji commercial bank
- Ahli bank
- Qatar Islamic International Bank
- Qatar Islamic Bank
- Dukhan bank
- Masraf Al Rayan
- HSBC
- Standard Chartered Check
- International Bank of Qatar
- First Finance Company
- Al Jazeera Finance
Table of Contents
Table of Contents
Executive Summary
1.1 Executive Summary: Qatar Auto Finance Market
2. Country Overview of Qatar
2.1 Country Demographics and Socioeconomic Indicators, 2021
2.2 Qatar Population Analysis, 2021
3. Qatar Automotive Market Overview
3.1 Qatar Automotive Market Overview
3.2 Qatar Motor Vehicles Import Scenario
3.3 Qatar Passenger Cars Market Overview
3.4 Pricing Analysis of Passenger Cars in Qatar
4. Qatar Automotive Finance Market Overview
4.1 Ecosystem of Qatar Auto Finance Market
4.2 Qatar Auto Finance Value Chain Analysis
4.3 Business Cycle of Qatar Auto Finance Market
4.4 Timeline of Major Banks in the Qatar Auto Finance Market
4.5 Market Sizing Analysis of Qatar Auto Finance Market, 2018-2021
5. Qatar Auto Finance Market Segmentation
5.1 By Type of Vehicle Financed (New, Used), 2021
5.2 By Tenure of New Vehicles (1 Year, 2 Year, 3 or More Years), 2021
5.3 By Tenure of Old Vehicles (1 Year, 2 Years, 3 Years, More Than 3 Years), 2021
5.4 By Type of Motor Vehicles (Passenger, Commercial), 2021
5.5 By Type of Passenger Vehicle (4W, 2W, and Others), 2021
5.6 By Type of Commercial Vehicle (LMV, MCV, HCV), 2021
5.7 By Type of Lending Bank (Government, Private), 2021
5.8 By Type of Lenders (Banks, NBFCs, OEMs), 2021
6. Industry Analysis of Qatar Auto Finance Services
6.1 SWOT Analysis of Qatar Auto Finance Industry
6.2 Trends and Developments in Qatar Auto Finance Industry
6.3 Trends & Developments in Qatar Buyer Persona
6.4 Decision-Making Parameter for Selecting Car Loan Vendor
6.5 Issues and Challenges in Qatar Auto Finance Industry
6.6 Growth Drivers of the Qatar Auto Finance Market
6.7 Government policies affecting the Qatar Auto Finance Industry
6.8 Government Initiatives for Qatar Automotive Industry
7. COVID-19 Impact on Qatar Auto Finance Market
7.1 COVID Impact on the Qatar Auto Finance Industry
8. Competition Framework for Qatar Auto Finance
8.1 Competition Overview of Qatar Auto Finance Market
9. Future Outlook and Projections of the Qatar Auto Finance Market
9.1 Future Qatar Auto Finance Market Overview
9.2 Future Segmentation by Type of Vehicles Financed (New, Used), 2026F
9.3 Future Segmentation by Tenure of Loans for New Vehicles (1 Year, 2 Year, 3 or More Years), 2026F
9.4 Future Segmentation by Tenure of Loans for Old Vehicles (1 Year, 2 Years, 3 Years, More Than 3 Years), 2026F
9.5 Future Segmentation by Type of Motor Vehicle (Passenger, Commercial), 2026F
9.6 Future Segmentation by Type of Commercial Vehicle (LMV, MCV, HCV), 2026F
9.7 Future Segmentation by Type of Passenger Vehicles (4W, 2W and Others), 2026F
9.8 Future Segmentation by Type of Lenders (Banks, NBFCs, OEMs), 2026F
9.9 Future Segmentation by the Type of Lending Bank (Government, Private), 2026F
10. Market Opportunities and Analyst Recommendations
10.1 Best Practices for Building a Successful Chain of Auto finance Practices
10.2 Growth strategies for the Qatar Auto finance market
10.3 Operational Strategies for Qatar Auto finance Services Market
11. Research Methodology
11.1 Market Definitions and Assumptions
11.2 Abbreviations
11.3 Market Sizing Approach
11.4 Consolidated Research Approach
11.5 Sample Size Inclusion
11.6 Limitation and Future Conclusion
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