Saudi Arabia Vehicle Reparation Market to be Valued USD1204 Million by 2027
Growing demand for improving
the life of automobile through maintenance and repair to drive Saudi Arabia vehicle
reparation market until 2027
According to TechSci Research report, “Saudi
Arabia Vehicle Reparation Market – By Region, Competition, Forecast &
Opportunities, 2027”, Saudi Arabia vehicle reparation market stood at
USD982 million in 2021 and is projected to grow at a CAGR of 3.52% in the next
five years. Growth in average miles drive per vehicle and increasing sales of
used vehicles are driving the growth of the vehicle reparation market.
The geographical topography of Saudi Arabia enables
people to enjoy off-road activities in the country. For off-roading purposes,
most people prefer SUVs, which drives the growth of SUV sales in the country.
For a better off-roading experience, people are upgrading their vehicles for
the desert terrain as well as diverse terrains. Upgradation of the tires by
using wide tires and by increasing the power of the engine, the vehicle
performance increases tremendously. This upgradation is done by the vehicle
repair and maintenance companies and service centers, which leads to the growth
of Saudi Arabia vehicle reparation market.
The increase in used car sales in the country
contributes to the rising demand for maintenance and repair services.
Increasing demand from shared mobility fleet owners, increasing employment
opportunities, lower price of used cars, presence of attractive finance schemes
and availability of cheap fuel in the country are major factors driving the
demand for used cars in the country. Moreover, increasing market penetration
offers digital platforms to the customers for buying and selling used cars as
well as provide servicing and warranty facilities along with easy, instant and
paperless loan experience to their customers. Moreover, every time a used car
is sold, complete servicing of the car is required to keep the vehicle
functioning intact. All such factors contribute to the growth of the vehicle
reparation market in Saudi Arabia.
Browse 28 market Figures spread through 88 Pages and
an in-depth TOC on " Saudi
Arabia Vehicle Reparation Market”.
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Saudi Arabia vehicle reparation market is segmented on
the basis of service area, vehicle type, service provider, channel, and
regional distribution. The Saudi Arabia vehicle reparation market based on
service area is divided into automotive mechanical and electrical parts, paint,
glass, automotive body parts, tire, interior parts and others. Automotive
mechanical and electrical parts held the lion's market share of 51.37% in the
service area in 2021. Auto parts such as battery, alternator, starter, braking
components, engine, transmission system, etc., lie in the automotive mechanical
and electrical part segment. These parts have maximum utilization when a vehicle
runs. Therefore, automotive mechanical and electrical parts must be in good
condition for good performance and smooth driving experience, etc. The high
market share of automotive mechanical and electrical parts can be attributed to
the higher utilization of these auto parts, which is anticipated to continue in
the forthcoming years as well.
Leading players
operating in Saudi Arabia Vehicle Reparation market include:
- Abdul Latif Jameel IPR Company Limited
- SMC Auto Service Broker LLC
- Ezhalha
- E.A. Juffali & Brothers (Juffali Automotive Company)
- Al Jazirah Vehicles Agencies Co. Ltd.
- Petromin Corporation
- Al Jomaih Group (ACDelco Service Centers)
- Haji Husein Alireza & Co. Ltd.
- Mohamed Yousuf Naghi & Brothers Group
- Aljabr Group
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“Al-Riyadh
holds the major share in Saudi Arabia vehicle reparation market with 48.15%
market share in terms of value, in 2021. The region also accounts for the
largest fleet share which proportionally increase the demand for vehicle
upgradation and reparation. High population (around 7.4 million), rising per
capita income and increasing demand in vehicle modification in the region are
the major factors driving the growth of vehicle reparation market in Al-Riyadh.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi
Arabia Vehicle Reparation Market By Service Area (Automotive Mechanical and
Electrical Parts, Automotive Body Parts, Tire, Paint, Interior Parts, Glass,
Others), By Vehicle Type (Two-Wheeler, Passenger Car, LCV, and M&HCV), By Service Provider
(Automobile Manufacturers, Franchise General Repairs, Locally Owned Repair
Shops), By Channel (Online, Offline), By
Region, Competition,
Forecast & Opportunities, 2027”, has evaluated
the future growth potential of Saudi Arabia vehicle reparation market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of Saudi Arabia vehicle
reparation market.
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