Oman: Passenger Car Market 2024

Passenger Car Market Size in Oman

The Omani passenger car market rose notably to $X in 2023, surging by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a perceptible setback. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Passenger Car Exports

Exports from Oman

In 2023, overseas shipments of passenger cars increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. Overall, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, passenger car exports skyrocketed to $X in 2023. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for passenger car exports from Oman, with a X% share of total exports. Moreover, passenger car exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X units), threefold. The third position in this ranking was held by China (X units), with an X% share.

From 2012 to 2023, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and China (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for passenger cars exports from Oman, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and China (X% per year).

Export Prices by Country

In 2023, the average passenger car export price amounted to $X per unit, increasing by X% against the previous year. Overall, the export price recorded measured growth. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2023, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per unit) and Yemen ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (X%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Oman

In 2023, approx. X units of passenger cars were imported into Oman; picking up by X% compared with the previous year. In general, imports, however, continue to indicate a slight decline. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, passenger car imports skyrocketed to $X in 2023. Overall, imports, however, continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), the United States (X units) and the United Arab Emirates (X units) were the main suppliers of passenger car imports to Oman, together comprising X% of total imports. Free Zones, China, Indonesia, India, Germany, Australia, South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest passenger car suppliers to Oman were Japan ($X), the United States ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. Free Zones, China, Germany, Indonesia, India, South Korea, Taiwan (Chinese) and Australia lagged somewhat behind, together comprising a further X%.

Among the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average passenger car import price stood at $X per unit in 2023, falling by X% against the previous year. Over the period under review, the import price saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform