Forecast: Number of Road Vehicles in Egypt

Over the last decade, the number of road vehicles in Egypt has exhibited consistent growth. The value stood at 7.5 million units in 2023. Year-on-year growth rates from 2013 to 2023 fluctuated, with notable peaks in 2015 (8.11%) and a significant dip in 2018 (1.79%). More recently, growth rates have moderated, with the 2023 year-on-year increase at 2.66%. The average compound annual growth rate (CAGR) from 2018-2023 was 2.94%. Between 2024 and 2028, the forecasted CAGR projects a more subdued annual growth rate of 1.81%, cumulatively expanding by 9.4% over the five-year period.

Future trends to watch for include advancements in vehicle technology, shifts toward electric vehicles, and potential regulatory changes promoting greener transportation. Economic factors and infrastructure developments will also play crucial roles in shaping the trajectory of road vehicle growth in Egypt.