Oman: Passenger Car Market 2024

Passenger Car Market Size in Oman

The Omani passenger car market soared to $X in 2021, increasing by 102% 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, continues to indicate a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Passenger Car Exports

Exports from Oman

For the ninth year in a row, Oman recorded decline in overseas shipments of passenger cars, which decreased by -19% to X units in 2021. Over the period under review, exports continue to indicate a dramatic slump. The smallest decline of -6.9% was in 2016. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, passenger car exports declined sharply to $X in 2021. In general, exports recorded a dramatic slump. The pace of growth appeared the most rapid in 2016 when exports increased by 24%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X units), Germany (X units) and the United Arab Emirates (X units) were the main destinations of passenger car exports from Oman.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tunisia (with a CAGR of +52.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and the United Arab Emirates ($X) constituted the largest markets for passenger car exported from Oman worldwide.

Among the main countries of destination, the Netherlands, with a CAGR of +100.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average passenger car export price amounted to $X per unit, with an increase of 4.1% against the previous year. In general, the export price showed prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 53%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Zambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+40.4%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Oman

For the third year in a row, Oman recorded growth in supplies from abroad of passenger cars, which increased by 137% to X units in 2021. Overall, imports, however, saw a deep reduction. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, passenger car imports soared to $X in 2021. In general, imports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2017 when imports increased by 83% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest supplier of passenger car to Oman, accounting for a 23% share of total imports. Moreover, passenger car imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by the United States (X units), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled -14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-20.7% per year) and the United States (-13.0% per year).

In value terms, the largest passenger car suppliers to Oman were the United Arab Emirates ($X), Japan ($X) and the United States ($X), together comprising 47% of total imports. Germany, China, Indonesia, the UK, India, South Korea and Free Zones lagged somewhat behind, together accounting for a further 7.8%.

China, with a CAGR of +18.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average passenger car import price amounted to $X per unit, with a decrease of -32.9% against the previous year. In general, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 97% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Free Zones (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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