Saudi Arabia Luxury Market Report 2025-2033: Luxury Cars Dominate Saudi Arabia's Expanding High-End Market
Saudi Arabian Luxury Market
Dublin, July 04, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Luxury Market Report by Distribution Channel, Category, Gender 2025-2033" has been added to ResearchAndMarkets.com's offering.The Saudi Arabia luxury market is projected to experience substantial growth, with its market size anticipated to climb from USD 10.1 billion in 2024 to USD 23.3 billion by 2033, driven by a compound annual growth rate (CAGR) of 9.7% during the period of 2025-2033. The expansion of the e-commerce sector coupled with the rise of upscale malls are key factors stimulating market growth across the country.
The economic growth in Saudi Arabia is fueled by increasing disposable incomes and a stable banking and financial system. This prosperity has sparked demand for luxury goods, including cars, watches, fragrances, and leather products. The younger population is a significant driving force in the luxury industry's expansion. The country's world-class hospitality sector, with opulent hotels and resorts, further boosts market growth, along with advancements in infrastructure, internet penetration, and tourism.
The Government of Saudi Arabia is progressing with the development of four economic cities aimed at boosting domestic trade, attracting foreign direct investment (FDI), and diversifying the economy. This strategy has significantly impacted the luxury products market. Noteworthy luxury brands like Prada, Tiffany, and Mulberry are enhancing their presence by launching exclusive stores that cater to regional preferences, alongside new product lines to target middle and upper-middle-class consumers.
Upscale malls offer luxury brands increased opportunities for growth. Social media's influence on brand connection and the ease of online luxury shopping contribute to industry expansion. Luxury tourism is emerging as a key trend, with investments in tourism infrastructure drawing high-spending travelers. The Vision 2030 plan is pivotal in reducing oil dependence, facilitating market growth. Visa regulation relaxation invites international luxury tourists, boosting luxury tourism's attractiveness through events like the Formula E Championship and Diriyah Season.
The robust growth in e-commerce has transformed the luxury market. Rising internet access encourages luxury product purchases online, expanding reach to remote consumers. The luxury e-commerce trend aligns with the shifting consumer preferences of the younger demographic, fostering acceptance of online luxury shopping due to the diverse product availability and curated luxury platforms.
Research highlights market trends and forecasts for the Saudi Arabia luxury market from 2025 to 2033, segmenting by distribution channel, category, and gender. Mono-brand stores dominate the distribution segment, emphasizing brand-specific shopping experiences, and ensuring brand image continuity. Cars lead in the category segment, reflecting cultural prestige and growing disposable incomes enabling luxury car acquisitions.
In terms of gender, females enjoy the largest market share. Shifting societal norms, increased female workforce participation, and rising disposable incomes are pivotal. Luxury brands tailor marketing strategies towards women, capitalizing on social media and influencer culture.
The competitive market landscape is defined by companies establishing flagship stores in major cities, adapting products to cultural preferences, and growing e-commerce presence to enhance shopping experiences.
The report delivers a comprehensive analysis of market competition, including detailed profiles of major companies.
Key Attributes:
Report Attribute
Details
No. of Pages
117
Forecast Period
2024 - 2033
Estimated Market Value (USD) in 2024
$10.1 Billion
Forecasted Market Value (USD) by 2033
$23.3 Billion
Compound Annual Growth Rate
9.7%
Regions Covered
Saudi Arabia
Key Topics Covered:
Preface
Scope and Methodology
Objectives of the Study
Stakeholders
Data Sources
Market Estimation
Forecasting Methodology
Executive Summary
Introduction
Overview
Key Industry Trends
Saudi Arabia Luxury Market
Market Overview
Market Performance
Impact of COVID-19
Market Breakup by Category
Market Breakup by Gender
Market Breakup by Distribution Channel
Market Forecast
SWOT Analysis
Value Chain Analysis
Porter's Five Forces Analysis
Key Success and Risk Factors
Market Performance by Category
Travel and Hotel
Cars
Personal Luxury Goods
Food and Drinks
Others
Market Performance by Gender
Male
Female
Market Performance by Distribution Channel
Mono-brand Stores
Multi-brand Stores
Online Stores
Others
Competitive Landscape
Market Structure
Key Players
Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/ng4772
About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
Saudi Arabian Luxury Market
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
40 minutes ago
- Yahoo
US is the only country facing tourism decline as Trump policies to cost $29 billion in visitor revenue: study
Donald Trump's policies risks alienating millions of international travelers and could cost the U.S. economy billions of dollars due to a sharp drop in tourism, a damning report says. Amid the president's immigration crackdown, travel bans and sweeping global tariffs, the U.S. is expected to be the only one out of 184 countries to see foreign visitor spending fall in 2025, according to the World Travel and Tourism Council. The study suggests that the U.S. economy is on track to lose $12.5 billion in international spending this year alone – but the actual shortfall might be much greater. Tourism Economics, a division of Oxford Economics, had originally forecast a nine percent increase in foreign travel earlier this year before revising its estimate to reflect 'polarizing Trump Administration policies and rhetoric.' Based on the research firm's original projections, the U.S. economy was expected to gain $16.3 billion in revenue, according to an analysis by Forbes. Instead, the total deficit may be as high as $28.8 billion. 'This is a wake-up call for the U.S. government,' Julia Simpson, president and CEO of WTTC, said in a statement in May. 'While other nations are rolling out the welcome mat, the U.S. government is putting up the 'closed' sign.' The projected decline is driven by an estimated 20 percent drop in Canadian visitors through 2025, who spent $20.5 billion and made up almost a quarter of foreign tourists who came to the U.S. last year. Meanwhile, Mexico's tourism industry is expected to boom with WTTC projections for 2025 indicating a record $281 billion uptick to the country's GDP. The potential backward slide comes amid alarming reports of foreign tourists having their travel plans upended, with some even detained by U.S. authorities. It included Charlotte Pohl, 19, and Maria Lepère, 18, from Rostock, Germany, who had their hopes of island-hopping Hawaii dashed and were denied entry into the U.S. despite allegedly holding the required Electronic System for Travel Authorization. Total foreign visitors were down 12 percent year-on-year in March, according to the National Travel and Tourism Office, a division of the U.S. Department of Commerce. That drop marked one of the steepest declines on record outside of the Covid-19 pandemic. Western European visitors experienced a 17 percent drop-off, spearheaded by fewer British and German visitors – 14 and 28 percent, respectively. Americans' appetite for foreign travel also appears to have been impacted. U.S. citizens appear more concerned about being detained or harassed by U.S. Customs and Border Protection agents when they re-enter the U.S. The Trump administration has repeatedly warned that agents have searched the electronic devices of U.S. citizens at the border. 'All travelers crossing the United States border are subject to CBP inspection,' the CBP's website reads. 'On rare occasions, CBP officers may search a traveler's mobile phone, computer, camera, or other electronic devices during the inspection process.' Last week, Los Angeles political consultant Rick Taylor was pulled aside by border agents, separated from his family and placed in a holding room with several Latino travelers for nearly an hour, according to the LA Times.
Yahoo
an hour ago
- Yahoo
PEAC Solutions completes acquisition of ePlus Finance subsidiaries
PEAC Solutions, the multinational asset finance platform, has confirmed the completion of its acquisition of the domestic subsidiaries of ePlus inc., for an undisclosed amount, marking a significant step in its strategic expansion across the United States. The transaction, originally announced earlier this year, formally closed on 30 June 2025. Under the terms of the deal, Marlin Leasing Corporation, trading as PEAC Solutions, acquired the key entities that comprised the bulk of ePlus's Finance Segment. The move is expected to bolster PEAC's growing IT finance portfolio and broaden its reach within the US Federal, State and Local government sectors. 'This transaction represents a strong strategic fit,' said William Stephenson, Global CEO of PEAC Solutions. He added that the company is 'pleased to formally welcome the ePlus Finance team' and remains committed to 'the continued growth and success of this collaboration'. ePlus Finance customers and partners will continue working with many of their existing relationship contacts, PEAC noted, while gaining access to a wider range of financing structures and asset classes. PEAC Solutions operates across North America, Europe and the United Kingdom, offering finance solutions to equipment manufacturers, dealers and distributors. The firm focuses on flexible leasing and lending products tailored to business growth and operational efficiency. "PEAC Solutions completes acquisition of ePlus Finance subsidiaries" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
EV High-Voltage Heaters Market is Forecasted to Reach US$ 2.5 Billion in 2031, Says Stratview Research
Detroit, July 04, 2025 (GLOBE NEWSWIRE) -- The global EV high-voltage heaters market size was valued at US$ 1.5 billion in 2024 and is projected to reach US$ 2.5 billion by 2031, witnessing a market growth CAGR of 7.0% from 2024 to 2031, according to an analysis by Stratview Research. Stratview Research, a global market research firm, has launched a report on the global EV high-voltage heaters market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more. Click here to get a free sample of the report: Market Statistics Market Size in 2024 US$ 1.5 billion Market Size in 2031 US$ 2.5 billion Growth (CAGR) 7.0% during 2024-2031 Cumulative Sales Opportunity 2024 to 2031 17.2 billion Leading Product Type Coolant Heaters Leading Propulsion Type HEV Leading Vehicle Type LV Leading Power Rating Type 3kW to 7kW Leading Region Asia-Pacific Forecast Period 2024-2031 Trend Period 2018-2022 Base Year 2023 Number of Segments Covered 5 Number of Tables & Graphs 100+ Country-Level Market Assessment 20 Segment Insights & Market Share Analysis of the EV High-Voltage Heaters Market: The global EV high-voltage heaters market is segmented based on product type, propulsion type, vehicle type, power rating type, and region. Based on product type – The market is segmented into air heaters and coolant heaters. Coolant heaters are expected to dominate due to their ability to efficiently heat both the cabin and battery system. Unlike air heaters, which only warm the cabin, coolant heaters support overall thermal management, which is vital for maintaining battery performance in cold climates. They also integrate well with modern EV thermal systems, which are becoming more centralized for better efficiency. This versatility and system-wide benefit make coolant heaters the preferred choice for many automotive OEMs during the forecast period. Based on propulsion type – The market is segmented into BEV and HEV. Hybrid electric vehicles (HEVs) are expected to be the dominant category of the EV high-voltage heaters market, driven by mature technology, improved fuel efficiency, and extended driving range. Hybrid electric vehicles (HEVs) often require efficient thermal management for both their internal combustion engines and electric components, making high-voltage PTC and coolant heaters essential. Their reduced dependence on external charging and broad consumer acceptance position HEVs as a key driver of demand for reliable, fast-acting heating solutions. BEVs are likely to experience the highest growth rate during the forecast period, driven by advancements in battery technology, declining production costs, and strong government support for zero-emission transportation. Because they rely entirely on electric systems, they require highly efficient high-voltage heaters to manage both cabin warmth and battery temperature, particularly in cold weather conditions. Based on vehicle type – The market is segmented into LV and M&HCV. Light vehicles (LVs) lead the EV high-voltage heaters market due to their high production rates, especially in the electric passenger car. Their compact size, frequent use in urban settings, and shorter driving ranges make efficient thermal management crucial to preserve battery life and ensure cabin comfort. Additionally, the growing urban population and rising consumer shift toward electric mobility further drive the demand for advanced heating systems in LVs, solidifying their dominance in this market segment. Based on power rating type – The EV high-voltage haters market is segmented into up to 3kW, 3kW to 7kW, and > 7kW. The 3kW to 7kW power rating type heater is expected to dominate the market during the forecast period. 3kW to 7kW power rating type offers an ideal balance between heating performance and energy efficiency, making it well-suited for passenger electric vehicles. Heaters in this category provide sufficient warmth for the cabin and ensure battery temperature stability, all while minimizing power drain on the battery. Their ability to meet thermal needs without compromising vehicle range makes them the preferred choice among OEMs for most mainstream EV models. The >7kW power rating category is expected to witness the fastest growth in the EV high-voltage heaters market due to the rising adoption of larger electric vehicles, such as SUVs, trucks, and commercial EVs, which require higher thermal output. These vehicles have larger cabins and bigger battery systems that demand more powerful heating for both comfort and efficient thermal management. To know the most attractive segments, click here for a free sample of the report: Which region shows the most promising growth forecast and opportunity? The analysis suggests that Asia-Pacific is expected to remain the largest region for the EV high-voltage heaters market during the forecast period. This growth outlook is majorly attributed to the following: The Asia-Pacific region is poised to experience the most significant growth in the electric vehicle (EV) high-voltage heater market, driven by rapid advancements in the EV industry across countries like China, Japan, and South Korea. China, in particular, leads this surge due to its position as the world's largest EV manufacturer, bolstered by supportive government initiatives, large-scale manufacturing capabilities, and an expanding charging infrastructure. Likewise, North America is estimated to experience the fastest growth in the EV high-voltage heaters market, driven by increasing electric vehicle adoption, stringent emission regulations, and substantial investments in advanced thermal management technologies. EV High-Voltage Heaters Market Drivers: Some of the key drivers listed in the report are given below. Increasing adoption of EVs is causing a rise in EV production. Stringent government regulations regarding reducing carbon emissions. Consistent and reliable cabin heating in cold climates. Simple to design and manufacture, and a cost-effective solution compared to heat pumps. Essential for maintaining optimal battery temperature, improving performance, safety, and fast charging capability, especially in cold conditions. Competitive Landscape: Top Companies in the EV High-Voltage Heaters Market: The market is moderately concentrated, with over 30 players. Most major players in the EV high-voltage heaters market compete based on key factors such as pricing, product efficiency, technological innovation, and regional market presence. Stratview Research has identified the following companies as the top market players: Mahle GmbH BorgWarner Inc. Valeo Webasto Group Eberspächer Group What Deliverables Will You Get in This Report? Key questions this report answers Relevant contents in the report How big is the sales opportunity? In-depth analysis of the EV High-Voltage Heaters Market How lucrative is the future? Market forecast and trend data and emerging trends Which regions offer the best sales opportunities? Global, regional, and country-level historical data and forecasts Which are the most attractive market segments? Market segment analysis and forecast Who are the top players and their market positioning? Competitive landscape analysis, Market share analysis How complex is the business environment? Porter's five forces analysis, PEST analysis, Life cycle analysis What are the factors affecting the market? Drivers & challenges Will I get the information on my specific requirements? 10% free customization For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@ Related Reports: EV Fuse Market EV High-Voltage Fuse Market Also Read Our Newly Published Reports on GlobeNewswire: Fuel Cell Bipolar Plates Market Fuel Cell Catalyst Layer Market About us— Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries. It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions. Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more. Are you looking for any specific data customized to your objectives? We are just a mail away. CONTACT: Stratview Research Visit : Mail Us : sales@ Call Us : +1-313-307-4176Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
