Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Spare Parts Market By Vehicle Type (Passenger Cars, Commercial Vehicles), By Component (Tires, Spark Plugs, Air Filter, Fuel Filter, Brake Pad, Brake Shoe, Brake Caliper, Batteries, Others), By Service Channel (DIFM (Do it for Me), DIY (Do it Yourself), and OE (Delegating to OEM’s)), By Region, Competition, Forecast Opportunities, 2027” under Automotive Market Research Reports category. The Spare Parts Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Spare Parts Market is expected to grow at a robust rate in the forecast period, 2023-2027. Factors such as the rise in the average age of vehicles and the use of novel and advanced technologies in automotive spare parts manufacturing drive the demand for Saudi Arabia spare parts market. The growing popularity of the e-commerce channels and increased focus on ensuring vehicle and passenger safety while riding automobiles are expected to influence the market demand. Due to their high per capita income and improved living conditions in the cities, Saudi Arabians are able to invest in the purchase of private vehicles. One of the main reasons Saudi Arabia prioritizes the development of the automotive sector is that the majority of the global automotive market is import-driven.
The main objective of National Industrial Development Center (NIDC ) under Saudi Vision 2030 is to bring in three to four original equipment manufacturers. The target is to produce 300,000 vehicles annually, representing 40% of local auto output. Government helps the car industry by offering financial aid, tax breaks, and incentives to automakers. Driving aggressively and quickly, as well as during harsh weather, have a negative impact on how well cars work. To increase the effectiveness and performance of automobiles, market participants are introducing technologically sophisticated spare parts. For the next five years, it is anticipated that the Saudi Arabian spare parts market will grow more quickly due to rising consumer knowledge regarding vehicle safety and maintenance as well as the arrival of local market participants.
The Saudi Arabia spare parts market is segmented into vehicle type, component, service channel, regional distribution, and competitive landscape. Based on vehicle type, the market is divided into passenger cars and commercial vehicles. Passenger cars are expected to hold the largest market share during the forecast period, 2023-2027. The market is driven by customers' shifting preferences for owning private cars for daily commute purposes. Consumer demand for passenger cars is rising due to rising spending power and living standards. Depending on the route and road conditions, cars have an average lifespan of over 12 years, which increases the need for routine maintenance on passenger vehicles.
The major market players operating in the Saudi Arabia spare parts market are Goodyear Middle East, Robert Bosch GmbH, Bridgestone Corp., Yokohama Rubber Company Limited, Schaeffler Technologies AG Co., Exide Industries Limited, Continental AG, Hyundai Mobis, Denso Corporation, and BorgWarner Inc.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2027
Objective of the Study:
•To analyze the historical growth in the market size of the Saudi Arabia spare parts market from 2017 to 2021.
•To estimate and forecast the market size of Saudi Arabia spare parts market from 2022 to 2027 and growth rate until 2027.
•To classify and forecast the Saudi Arabia spare parts market based on vehicle type, component, service channel, region, and company.
•To identify the dominant region or segment in the Saudi Arabia spare parts market.
•To identify drivers and challenges for the Saudi Arabia spare parts market.
•To examine competitive developments such as expansions, new product launches, mergers acquisitions, etc., in the Saudi Arabia spare parts market.
•To identify and analyze the profiles of leading players operating in the Saudi Arabia spare parts market.
•To identify key sustainable strategies adopted by market players in Saudi Arabia spare parts market.
Key Target Audience:
•Market research and consulting firms
•Government bodies such as regulating authorities and policy makers
•Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia spare parts market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Saudi Arabia Spare Parts Market, By Vehicle Type:
•Saudi Arabia Spare Parts Market, By Component:
•Saudi Arabia Spare Parts Market, By Service Channel:
DIFM (Do it for Me)
DIY (Do it Yourself)
OE (Delegating to OEM’s)
Above 300 kWh
•Saudi Arabia Spare Parts Market, By Region:Northern Central
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