UAE Auto Finance Market Outlook to 2026F

Driven by growing digital penetration, evolving vehicle ownership characteristics and rebates by the Government amidst systematically regulated vehicle ownership and financing policies by the regulatory authorities

Region:Middle East


Product Code:KR1255

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Published on

November 2022

Total pages


About the Report

About the Report

The report provides a comprehensive analysis of the potential of the auto financing industry in the UAE. The report covers an overview and genesis of the industry, and market size in terms of Credit Disbursed.

Its market segmentations include by Category of Lenders, by type of vehicles, Type of Ownership, by Category of Vehicles, by Duration of Loan; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, that UAE Auto Finance Market has decreased from 2016 to 2021 at a CAGR of -6.3% owing to government regulations, lifestyle changes and the COVID-19 lockdown but in the upcoming period, the growth is expected to normalize owing to the emergence of new and improved technologies. UAE Auto Finance Market is estimated to grow at a positive CAGR of ~17% in between 2022E and 2026F.

auto financing industry in the UAE

  • UAE Auto Finance Industry is expected to witness good growth in future owing to reasons such as Increasing Population, growing income levels, new and innovative business models and more.

Key Trends by Market Segment:

By Category of Vehicle: The UAE commercial vehicle market is one of the largest commercial vehicle markets in the GCC region. Demand for commercial vehicles in the country majorly emanates from construction, infrastructure, logistics, tourism and public transport sectors. Toyota, Nissan, Mitsubishi, Isuzu, Ashok Leyland, and Tata are few of the major players operating in the commercial vehicle market.

By Category of Loan: Customers with good credit ratings usually opt for loans from banks because it is easy for them to obtain such loans. Others, such as someone who has just started earning, or a foreigner who has just arrived in the country, usually opt for loans from NBFCs at a higher interest rate, because the risk of non-payment is higher for them.

Competitive Landscape

Future Outlook

The UAE Auto Finance Market witnessed significant growth during the period 2016-2021, owing rising automobile demand, flexible financing models, and rise in online auto finance aggregators.

Growth rate of total cars financed is going to increase over the period as financing becomes easier and market penetration rates increase.

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Scope Of The Report

Scope of the Report


By Category of Lender

Captive Financing Companies

Universal and Commercial banks


By Type of Vehicle

Two Wheelers

Three Wheelers

Four Wheelers

By Type of Ownership

Used Cars

New Cars

By Category of Vehicles

Passenger Vehicle

Commercial Vehicles

By Duration

12 -14 months

25 – 48 months

49 – 60 months

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Banks and its Subsidiaries
  • NBFCs
  • Captive Finance Companies
  • Government and Institutions
  • Automobile Companies
  • Car Dealers
  • Government and Institutions
  • Existing Auto Finance Companies
  • OEM Dealerships
  • New Market Entrants
  • Investors
  • Auto mobile Associations


Time Period Captured in the Report

  • Historical Period: 2016-2021
  • Base Period: 2022
  • Forecast Period: 2022-2026F


Major Players Mentioned in the Report

  • Dubai Islamic Bank
  • Commercial Bank of Dubai
  • Emirates NBD
  • HSBC
  • Noor Bank
  • Abu Dhabi Islamic Bank
  • Al Hilal Bank
  • Ajman Bank
  • ADCB Islamic Bank
  • Arab Bank
  • RakBank
  • Sharjah Islamic Bank
  • Emirates Islamic Bank
  • First Abu Dhabi Bank
  • Mashreq Bank
  • Dunia Finance
  • Reem Finance
  • Siraj Finance
  • Finance House
  • Dubai First

Table of Contents

Table of Contents

1. Executive Summary

1.1Executive Summary for UAE Auto Finance Market Outlook to 2026F

2. Country Overview of UAE

  2.1 UAE Country Demographics

  2.2 UAE Population Analysis, 2021

3. UAE Auto Finance Market Overview and Genesis

  3.1Ecosystem of Major Entities in UAE Auto Finance Market

  3.2 Automotive Market Overview of UAE

  3.3 UAE Automotive Market - Major OEM Brands basis Passenger Car Sales

  3.4 Objectives of Captives

  3.5 Types of Car Loans in UAE Auto Finance Industry

  3.6 Value Chain of UAE Auto Finance Industry

4. UAE Auto Finance Market Size, 2021

  4.1Market Sizing of UAE Auto Finance Market, 2016-2021

5. UAE Auto Finance Market Segmentations, 2021

  5.1 Market Segmentations

  5.2 UAE Auto Finance Market Segmentation by Ownership of Vehicles, 2021

  5.3 UAE Auto Finance Market Segmentation by Type and Category of Vehicles, 2021

  5.4 UAE Auto Finance Market Segmentation by Category of Lenders, 2021

  5.5 UAE Auto Finance Market Segmentation by Loan Tenure for New and Used Cars, 2021

6. Industry Analysis of UAE Auto Finance Market

  6.1 Decision Making Parameters for selecting Auto Finance Vendors

  6.2 Trends and Developments in UAE Auto Finance Market

  6.3 Challenges faced by End Users in UAE Auto Finance Market

  6.4 SWOT Analysis of UAE Auto Finance Market

  6.5 Government Regulations in the UAE Auto Finance Market

  6.6 Customer Journey

  6.7 COVID 19 Impact on UAE Auto Finance Industry

7. UAE Auto Finance Aggregator Market

  7.1 UAE Auto Finance Market Aggregator Overview

  7.2 Impact of Financial Aggregators on various financial institutions

8. Competition Framework

  8.1 Cross Comparison of Major Companies in UAE Auto Finance Market

9. Future Outlook and Market Size for UAE Auto Finance Market 2021-2026F

  9.1 Market Sizing of UAE Auto Finance Market, 2021-2026F 

10. Future Outlook and Market Segmentations for UAE Auto Finance Market 2021-2026F

  10.1 UAE Auto Finance Market Segmentation by Type and Category of Vehicles, 2026F

  10.2 UAE Auto Finance Market Segmentation by Ownership of Vehicles and Category of Lenders, 2026F

  10.3 UAE Auto Finance Market Segmentation by Loan Tenure for New and Used Cars, 2026F

11. Analyst Recommendations

  11.1 Analyst Recommendations

12. Research Methodology

  12.1Market Definitions

  12.2 Market Sizing Approach- UAE Auto Finance Market

  12.3 Consolidated Research Approach

  12.4 Understanding Market Potential Through In-Depth Industry Interviews

  12.5 Primary Research Approach

  12.6 Research Limitations and Conclusions


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Research Methodology

Research Methodology

Step 1: Identifying Key Variables:

Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.

Step 1: Market Building:

Collating statistics on used car and new car over the years, penetration of car finance and down payment ratio to compute overall credit disbursed for cars. We will also review central bank statistics to understand credit disbursed and outstanding amount which can ensure accuracy behind the data points shared.

Step 1: Validating and Finalizing:

Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.

Step 1: Research output:

Our team will approach multiple finance providing channels and understand their operating and financial indicators including business model, revenue streams, number of cars financed, application process, regional presence, number of branches, partnerships, business strategies & future plans, and the statistics provided is derived through bottom to top approach from car finance providers.

Frequently Asked Questions

Frequently Asked Questions

01 What is the Study Period of this Market Report?

The UAE auto finance Market is covered from 2016–2026 in this report, including a forecast for 2022F-2026F.

02 What is the Future Growth Rate of the UAE Auto Finance Market?

The UAE Auto Finance Market is expected to witness a CAGR of ~17% over the next five years.

03 What are the Key Factors Driving the UAE Auto Finance Market?

Increase in private car sector, growing digital advancement and some government initiatives are likely to fuel the growth in the UAE Auto Finance market.

04 Which is the Largest Car category financed within the UAE Auto Finance Market?

The Commercial category car type segment held the largest share of the UAE Auto Finance Market in 2021.

05 Who are the Key Players in the UAE Auto Finance Market?

Dubai Islamic bank, Abu Dhabi Islamic bank, RakBank are some of tthe major player in UAE Auto Finance market.

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