Qatar Auto Finance Market Size, Growth Rate, Forecast, Revenue & Outlook to 2026F: Ken Research

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The report “Qatar Auto Finance Market Outlook to 2026F– Driven by Increasing Vehicle Prices and Low Interest Rate in The Country” by Ken Research provides a comprehensive analysis of the potential of Auto Finance industry in Qatar. The report also covers an overview and genesis of the industry, market size in terms of credit disbursed; market segmentation by types vehicle financed, by tenure for new and used vehicles, types of lenders, by types of commercial and passenger vehicles; 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.

Qatar Automotive Overview

Qatar does not manufacture and export motor vehicles itself, however they do re-export motor vehicles. Qatar majorly exports vehicles from Japan, Germany and USA.

In 2019, Qatar re-exported $ ~ Mn worth of Motor Vehicles. Electric vehicle (EV) adoption is still at an early stage, but Qatar is taking serious steps towards electrification. It aims to have ~% of Qatar’s public transit bus fleet from gasoline to electric by 2022. Qatar has automotive investments in several countries, including bus production in Oman and vehicle production in Turkey.  The Qatar Investment Authority also owns a stake in German carmaker, Volkswagen

How Is Auto Finance Market Positioned In Qatar?

The Qatar auto finance market experienced a downfall due to factors like Covid outbreak and reduction in population of expats in the country. Covid impacted the production in the market, car manufacturers couldn’t predict the vehicles demand in the future and hence miscalculated the production requirements. The rise in the sale of motorcycles for online food delivery business is contributing in recovery of auto finance sector in the country post COVID-19. Competition is increasing among banks, NBFCs and captives which forced banks to rethink their lending strategy in order to maintain their high market share. Banks are providing 100% and 80% finance for electric and hybrid car/vehicles to Qatari customers and expats to reward them for making an environmentally-friendly choice. This is expected to attract the consumers to opt for auto financing in the country.

Qatar Auto Finance Market Segmentations

By Type of Vehicle: Used vehicle would have a greater demand in the market post COVID-19 since there is shortage in manufacturing and supply of new vehicles. The market is regaining at a steady rate due to increasing demand for personal vehicle post Covid.

By Tenure of Loan for Old Vehicles: Sales of new cars is expected to decline as public transport infrastructure has been improving drastically with the investment of around $ 70 billion in transportation projects in the country.

By Tenure of Loan for New Vehicles: Usually, period of 3 to 4 years is the most common loan tenure for vehicle in the country.

By Type of Commercial and Passenger Motor Vehicle: The commercial vehicle segment is dominating the Qatar Auto Finance Market.

By Type of Passenger Motor Vehicle: In passenger vehicle, the share of 4W is largest because the price of car is comparatively higher than 2W and others.

By Type of Lending Bank: Qatar National Bank is the largest government bank in Qatar and it has subsidiaries and associate companies in more than 30 countries across three continents.

By Type of Commercial Motor Vehicle:

LCV is the majorly used commercial vehicle in Qatar because it is used in transportation of goods. Also, the country is growing its e-commerce which help LCV segment to grow in the country.

By Type of Lenders: Bank is dominant in the auto finance market in Qatar because banks are legally recognized and more reliable source of financing.

Industry Analysis of Qatar Auto Finance Market

• National Vision 2030 and FIFA World Cup 2022: Increased Government spending on infrastructure and employment leading to an increase in per capita income and wages would lead to higher sales of automotive and boost auto finance market.

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• Post-Covid Recovery: Covid-19 and Work from Home culture affected sales of Automotive industry. However, 2022 onwards it is expected that sales will recover as offices will re-open and commercial activities will increase.

Bottlenecks and Challenges in Qatar Auto Finance Market

• Trade Embargo: Automotive continued to experience a slowdown due to the Trade Embargo imposed on Qatar by UAE, Bahrain and Egypt.
• Time consuming process: Often high amount of paperwork is required for a salesperson and customer to complete an average car loan application.

Key Segments Covered

Qatar Auto Finance:

• By Type of Vehicle financed
• New
• Used
• By Tenure (for New and Old Vehicles):
• 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:
• LMV
• MCV
• HCV
• 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 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

Key Topics Covered in the Report

• 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

For more information on the research report, refer to below link: -

Qatar Auto Finance Market Outlook to 2026F: Ken Research

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Qatar Auto Finance Market Outlook to 2026F: Ken Research

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Qatar Auto Finance Market is in Maturity stage as there is moderate growth owing to rising Demand for Two Wheeler Vehicle: Ken Research

Driven by increasing vehicle prices and low-interest rates in the country, the Qatar Auto finance market has seen some growth in the share of commercial vehicles post covid-19.

Qatar Auto finance market Overview: The Qatar Auto finance market is highly dependent upon pricing. In the country, major price consciousness is seen among the population. New car financing is more prevalent in the country, especially after covid-19. The banks have been the dominant players as they have a huge pre-built database that they leverage for their own advantage which they use to give loans at a low-interest rate.

Growth drivers for the Auto Finance Market in Qatar: Qatar’s auto finance sector has seen a major shift with the announcement of the Qatar National Vision 2030 in which massive plans for economic targeting could aid the auto finance market in the huge way possible. Shift towards sustainability which was also announced in the Qatar National Vision 2010 and Electric Vehicles (Evs) will boost green financing and auto loans sector to a great extent.

Government regulations in the Auto Finance Market: Ministry of Economy and Commerce sets guidelines for auto dealers in Qatar related to performance, standards, and manufacturing of parts and components. Vehicle owners are required to register their newly purchased vehicles with the Ministry of Interior (MOI). Registration is mandatory for both new and used vehicles. Banking activities in Qatar are licensed under Qatar Central Bank (QCB). All legal entities involved in any banking activity have to apply for a license. 

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Issues and Challenges in Qatar Auto Finance Market: The growth will not be exponential in the auto finance market after the Covid outbreak and semiconductor chip shortage. The market for 2Ws is low due to the preference of 4Ws depending on the luxurious lifestyle of the population. Also, the decreasing ex-pat population due to government policies is decreasing the demand for auto loans. Analysis shows that many small Car dealers and Financial Institutions are not able to cope with the rapid rise in technology in the industry-leading to their potential exit from the market.

Analysts at Ken Research in their latest publication “Qatar Auto Finance Market Outlook to 2026F- Driven by Increasing Vehicle Prices and Low-Interest Rate in The Country” By Ken Research observed that Qatar auto finance market has witnessed a decline in growth rate over the historical period. The shortage of semi-conductor chips, reduction of expatriate population and impact of COVID 19 has caused reduction in demand for auto loans in the country. However, the rising Auto Finance consciousness among the population, along with increasing loan facilities, customer taste, and preference, and implementation of favorable government rules & regulations is expected to contribute to the market growth over the forecasted period. The Qatar Auto Finance Market is expected to grow @2.8% CAGR over the forecasted period 2021-2026F.

Key Segments Covered

Qatar Auto Finance:

• By Type of Vehicle financed
• New
• Used
• By Tenure (for New and Old Vehicles):
• 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:
• LMV
• MCV
• HCV
• 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 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

Key Topics Covered in the Report

• 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

For more information on the research report, refer to below link: -

Qatar Auto Finance Market Outlook to 2026F: Ken Research

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Qatar Auto Finance Market Segmentation: Ken Research

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HOW IS THE AUTO FINANCE MARKET POSITIONED IN QATAR? WHAT ARE THE MAJOR FACTORS DRIVING THE MARKET?

Qatar auto finance market has been identified to be in growth stage. During the last 5 years, the auto finance market has grown in number of vehicles financed, even though, the demand and supply for automotives witnessed fluctuations in the past years owing to sharp decline of crude oil prices, Saudi-led blockade and automobile sector slowdown all across the world. Banks in this period have mostly provided plain vanilla products to the borrowers and have not focused much on increasing their penetration rate in used cars segment. However, during this period, NBFC’s started focusing on used cars segment to increase their market share. Entities such as Lead Generation Companies, Online Lenders and Aggregators have very small presence in the market but have high potential to grow in future.

The vehicle finance market has increased to approximately QAR ~ billion in 2018 from QAR ~ billion in 2014 registering a CAGR of ~% during the same period. The credit disbursed in the Qatar Vehicle Finance Market has increased from QAR ~ billion in 2014 to QAR ~ billion in 2018. The outstanding auto loan increased from QAR ~ billion in 2014 to QAR ~ billion in 2018. The number of vehicles financed increased from ~ in 2014 to ~ in 2018. Lending is getting increasingly convenient with improved online lending ecosystems. Online lending ecosystems contribute to the rising total addressable market in vehicle finance and lenders have started to offer highly customized products catering to each borrower’s needs. Limited presence of NBFCs and Captives act as an impediment for the industry.

QATAR AUTO FINANCE MARKET SEGMENTATION

By New and Used Vehicle: In Qatar, auto loan is disbursed for both new and used vehicles. Credit disbursed for new vehicle finance was observed to nearly contribute to 2/3rds of the market during 2018. Used vehicle finance contributes to a major share in terms of quantity in the market owing to lower price of vehicle, however, new vehicles contribute to higher disbursement.

By Type of Vehicle (Bikes, Cars and Light Commercial Vehicles): Loan financing provided for Cars established itself as the market leader in the Qatar vehicle finance market in 2018, owing to high sales volume of SUVs and the preference of consumers towards owning spacious luxury vehicles.

By Institution Type (Banks, Captives and Non-Banking Financial Companies): Banks dominate the majority of the vehicle lending in the market owing to their huge network as well as financial resources that allow them to charge subsidized interest rates. NBFCs & Captives are striving to grow and establish a wider presence in the market by focusing on new customer segments.

By Loan Tenure (1 year, 3, 4, 5 or more years) Between New and Used Vehicles: The loan tenure selected by the customer depends on factors such as the price of the car, income level of the customer, flexible scheme options and other social factors such as family size and life style of the individual. The maximum tenure allotted for a car loan by both banks and private finance companies is 6 years for new vehicle. It has been observed that, people opting for 3-4 years loan tenure dominated the Qatar vehicle finance market in 2018.

For more information on the research report, refer to below link:

Qatar Auto Finance Market Research Report

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Qatar Auto Finance Market is driven by Rise in Pre-owned vehicles and financial penetration rate of new and used vehicles: Ken Research

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Analysts at Ken Research in their latest publication “Qatar Auto Finance Market Outlook to 2023 –By Banks, Non Banking Financial Companies and Captives, By New and Used Vehicles, By Type of Vehicle Financed (Motor Bikes, Cars and Light Commercial Vehicles) and By Loan Time Period” believe that the Qatar Auto Finance market demand is likely to follow a growth trend in the near future due to increasing penetration rates in used vehicles financing, increasing preference of debt financing & new vehicles sales. Some positive factors expected to impact the market, are the introduction of digitalization based lending models, the spread of customized loan products and a further rise in the penetration rate of both new & used  vehicle finance. The market is anticipated to register a positive CAGR of 7.5% in terms of Loans Outstanding & CAGR of 6.7% in terms of Credit Disbursed during the forecasted period 2019-2023.

“The dominance of banks as primary lending institution for vehicle finance in Qatar is shifting to non-bank lenders such as Captives and Non-Banking Financial Companies, owing to introduction of attractive financing options and increased focus on digitizing the loan disbursement process.“

Growth Enablers: The Qatar Auto Finance Market is in its growth stage; however it witnessed a period of fluctuations between 204-2016, which could be attributed to sharp decline of international crude oil prices in 2014 and blockade led by Saudi & other gulf countries on allegations of supporting terrorism. The country currently has a motorization rate of around 40.0% only and increasing demand for used cars in the country portray the potential for growth of auto finance sector in Qatar.

Rising Sales of Used Vehicles: The automobile sales market has seen a shift in consumer trend with sale of used vehicles dominating the market since 2017. The growth in used vehicles saw an overall rise of around 38.0% in 2017. The new vehicles sales have been declining during the period of study and higher consumption spending habits have fueled the increase of used vehicle sales. Increase in used cars sales can also be attributed to leniency in lending provisions and better use of credit information of applicants for used vehicles by bank and NBFCs in the last few years.

Increasing Use of Technology in Auto Finance: With increasing technological developments in the banking sector, lending solutions have become less cumbersome for both the applicant and the bank. Banks have started adopting automatic loan application processing instead of manual processing which is both time & resource consuming. Banks even have separated portals to process or collect the details of loan applicant to assess the credit worthiness of the applicants and to further streamline the loan process for consumers.

Key Segments Covered

By New and Used Vehicle

New Vehicle

Used Vehicle

By Type of Vehicle

Motor Bikes

Cars

Light Commercial Vehicles

By Lender Category

Banks

Captives

Non-Banking Financial Companies

By Loan Tenure between New and Pre-Owned Motor Vehicles

One Year

Two Years

Three Years

Four Years

Five Years or More

Key Target Audience Existing Auto Finance Companies

Banks

Non-Banking Financial Companies

New Market Entrants

Government Organizations

Investors

Automobile Associations

Automobile OEMs

Time Period Captured in the Report:

Historical Period: 2014-2018

Forecast Period: 2019F-2023F

Key Companies Covered:

Banks

Qatar National Bank

Doha Bank

Commercial Bank

International Bank of Qatar

Qatar Islamic International Bank

Qatar Islamic Bank

Masraf Al Rayan

Non-Banking  Financial Companies

First Finance Company (Barwa Bank)

Al Jazeera Finance

Key Topics Covered in the Report

Executive Summary

Research Methodology

Qatar Vehicle Finance Market Overview and Genesis

Qatar Vehicle Finance Market Size, 2014-2018

Qatar Vehicle Finance Market Segmentation, 2014-2018

Major Trends and Development in Qatar Vehicle Finance Market

Regulatory Framework in the Qatar Vehicle Finance Market

A Snapshot on Digitalization of Auto Finance in Qatar

Customer Perspective in Qatar Vehicle Finance Market

Competitive Landscape containing Company Profiles in the Qatar Auto Finance Market

Qatar Vehicle Finance Market Future Outlook and Projections, 2019F-2023F

Analyst Recommendations for the Qatar Auto Finance Market

For more information on the research report, refer to below link:

Qatar Auto Finance Market

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Qatar Auto Finance Market Outlook to 2023: Ken Research

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The report titled “Qatar Auto Finance Market Outlook to 2023 –By Banks, Non Banking Financial Companies and Captives, By New and Used Vehicles Financed, By Type of Vehicle Financed (Motor Bikes, Cars and Light Commercial Vehicles) and By Loan Time Period” provides a comprehensive analysis of the Qatar vehicle finance market including market evolution, market overview, market genesis, market size and current and future market segmentations. Extensive focus has been placed in quantifying the auto loans outstanding and segment-wise number of vehicles financed. The report covers aspects such as market segmentation (by loan tenure, type of vehicles, new and used vehicles and type of lending institutions), customer perspective in the market and snapshot on Digitalization of Auto Finance & the way forward. Competitive landscape of major lenders including Qatar National Bank, Commercial Bank, Qatar Islamic International Bank, Doha Bank, First Finance Co., Al Jazeera Finance, Toyota Financial Services. The report also covers future industry analysis (by credit disbursed and auto loan outstanding), future market segmentation, PESTEL Analysis, growth opportunities, up-coming business models, government regulations and analyst recommendations.

Qatar Auto Finance Market Overview and Size:

The Vehicle Finance Market in Qatar witnessed a slight decline during the period 2014-2018, owing to decreasing new vehicle sales over the same period. The market is in growth stage with vehicle sales beginning to follow a normal growth trend after continued exponential growth till 2014, followed by a rapid decline after that. Trends in the market were largely stimulated by decline in oil prices after 2014 and blockade led by Saudi & a few other neighboring gulf countries against Qatar. These trends led to decline of new vehicle sales in Qatar but spurred the growth of used vehicles, especially in passenger cars segment in the country.

Qatar Vehicle Finance Market Segmentation:

By New and Used Vehicles: The Vehicle Finance Market in Qatar is segmented into New and Used Vehicle finance with New Vehicle finance holding a major share of the total credit disbursed in 2018. Even though, the number of new vehicle sales was quite less in comparison to used vehicles but the higher price of new vehicles sold was one of the major reasons for higher credit disbursement share for this segment.

By Lender Type: The primary lending institutions in the Qatar Auto Finance market include Banks, Captives & Non-Banking Financial Companies. Banks hold a majority share in the market owing to their reliable lending reputation and expansive network of branches across the country. In used vehicle finance, borrowers face greater difficulties in getting the required finance, penetration rate for used vehicles is much lower than the global average of 50.0%. Captives and NBFCs are struggled in gaining traction.

By Type of Vehicle (Bikes, Cars and Light Commercial Vehicles): Cars accounted for a major share in the number of vehicles financed in the market owing to high volume of SUVs on Qatar roads , while the share of Light Commercial is lower than Cars and higher than bikes. This was due to low preference of bikes by population in Qatar due to sandy and hot terrain.

By Time Period of Loan for New and Used Vehicles: Vehicles are financed for different tenures in the market, with the share of loans lasting for 3-4 years the highest. The overall trend in the market is the lengthening of loan terms with car buyers preferring to make payments over a longer period of time to distribute their financial burden evenly over a longer period. Borrowers provide raised interest rates for longer period loans with lower monthly payments. The trend towards longer loan terms is evident both in New and Used Vehicle finance with borrowers opting for longer loan terms years progressively.

Competitive Landscape in the Qatar Auto Finance Market:

The competition in the market is concentrated in nature. The major lending institution types in the market are Banks, Captives & Non-Banking Financial Companies. Banks hold a majority share in the lending space for new vehicles whereas NBFCs & Captives are expected to gain the used vehicle segment in the future. Major parameters basis which players compete are interest rate and down payment ratio, loan tenure, digitalization and ease of transaction, customer reach or branch network, service portfolio and others.

Qatar Auto Finance Market Future Outlook and Projections:

Over the forecast period, Qatar auto finance market is expected to grow at a positive rate with estimated increase in sales of new and used vehicles in the country owing to emergence of new businesses, increasing personal disposable income and expected increase in tourist inflow. Existing players are expected to move towards digitalization with focus on streamlining the financing process for both Qataris and expats. Multiple fin-tech startups are also expected to enter the landscape which could pose a threat to conventional finance companies and banks. These start ups would primarily work towards developing products to augment the digitalization of the banking sector. This includes digital payments, online lending, online aggregation and remote banking facilities which will make customer lending process more simplified, further facilitating the car finance market in the country. Banks and Captives are expected to focus and grow their share in the used cars segment, also new NBFCs are expected to enter the competitive landscape to cater to the increasing demand of vehicle financing in the country.

Key Segments Covered

By New and Used Vehicle

New Vehicle

Used Vehicle

By Type of Vehicle

Motor Bikes

Cars

Light Commercial Vehicles

By Lender Category

Banks

Captives

Non-Banking Financial Companies

By Loan Tenure between New and Pre-Owned Motor Vehicles

One Year

Two Years

Three Years

Four Years

Five Years or More

Key Target Audience

Existing Auto Finance Companies

Banks

Non-Banking Financial Companies

New Market Entrants

Government Organizations

Investors

Automobile Associations

Automobile OEMs

Time Period Captured in the Report:

Historical Period: 2014-2018

Forecast Period: 2019F-2023F

Key Companies Covered:

Banks

Qatar National Bank

Doha Bank

Commercial Bank

International Bank of Qatar

Qatar Islamic International Bank

Qatar Islamic Bank

Masraf Al Rayan

Non-Banking  Financial Companies

First Finance Company (Barwa Bank)

Al Jazeera Finance

Key Topics Covered in the Report

Executive Summary

Research Methodology

Qatar Vehicle Finance Market Overview and Genesis

Qatar Vehicle Finance Market Size, 2014-2018

Qatar Vehicle Finance Market Segmentation, 2014-2018

Major Trends and Development in Qatar Vehicle Finance Market

Regulatory Framework in the Qatar Vehicle Finance Market

A Snapshot on Digitalization of Auto Finance in Qatar

Customer Perspective in Qatar Vehicle Finance Market

Competitive Landscape containing Company Profiles in the Qatar Auto Finance Market

Qatar Vehicle Finance Market Future Outlook and Projections, 2019F-2023F

Analyst Recommendations for the Qatar Auto Finance Market

For more information on the research report, refer to below link:

Qatar Auto Finance Market Research Report

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Philippines Auto Finance Market Outlook To 2023 - By Banks And NBFCs Including Captive Units (Auto Loan Portfolio And Motor Cycle Loan Portfolio), By New And Used Motor Vehicles, By Motor Vehicle Financed (Passenger And Commercial Vehicles), By Loan Time Period.

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+91-9015378249