Libya continues to top the Arab region in vehicle ownership, with an impressive 998 vehicles per 1,000 residents. This figure is projected to rise to 1,176 vehicles per 1,000 residents by 2028, solidifying Libya’s position as the country with the highest vehicle density in the Arab world.
These insights come from the latest report published by the Arab Investment & Export Credit Guarantee Corporation (Dhaman), which analyzed the automotive sector across Arab nations. According to the report, Kuwait follows Libya with 577 vehicles per 1,000 residents in 2024, while Qatar, Oman, and Bahrain also rank among the top five countries in vehicle ownership.
The report highlights a steady increase in the average vehicle fleet across Arab nations, which has grown by nine points, reaching 307 vehicles per 1,000 residents by the end of 2024. Despite this growth, Libya and five Gulf countries have significantly surpassed this average. The number is expected to further rise to 353 vehicles per 1,000 residents by 2028.
The Dhaman report also sheds light on Libya’s growing automotive market, estimating a 27-point increase in vehicle sales potential, benefiting both new and existing market players. Furthermore, approximately 70% of the Libyan population is deemed eligible for driving, indicating strong future demand for vehicles.
Investment Opportunities in Libya’s Automotive Sector
The report also identifies Libya, Syria, Egypt, Jordan, and Sudan as leading countries in a key sub-index measuring government and industry incentives for automotive growth. This index underscores long-term investment opportunities in the vehicle sector and highlights the region’s potential for expanding automotive sales and manufacturing.
