Forecast: Vehicles in Use in Egypt

The vehicles in use in Egypt have shown a mixed pattern over the past years. From 2013 to 2019, the market experienced consistent growth, peaking at 6.27 million units in 2019. The year 2020 saw a significant decline of -14.82%, but the market rebounded strongly in 2021 with a 17.33% increase. By 2023, vehicle usage reached 6.91 million units, showing a steady growth rate with a 2.3% year-on-year increase and a 2.52% CAGR over the last five years.

Looking ahead, the vehicle market is forecasted to continue a moderate growth trajectory, reaching 7.71 million units by 2028. The forecasted 5-year CAGR stands at 1.76%, indicating a gradual rise with a total growth rate of 9.13% from 2024 to 2028.

Future trends to watch for:

• Economic reforms and their impact on consumer purchasing power.
• Government policies promoting electric vehicles and environmental sustainability.
• Advancements in automotive technology and their adoption in the Egyptian market.
• Infrastructure developments and urbanization trends influencing vehicle usage patterns.