UAE Automotive Aftermarket to be dominated by Passenger Cars till 2027
Growing demand for vehicle upgradation and customization and
aging vehicle fleet is expected to drive the demand of UAE Automotive
Aftermarket in the forecast period, 2023-2027.
According
to TechSci Research report, “UAE Automotive Aftermarket By Region, Competition
Forecast & Opportunities, 2027”,
the UAE automotive aftermarket is expected to witness steady growth in the
forecast period, 2023-2027. The high demand for vehicle customization in
customers and enthusiasts and the growing expenditure capacity of the consumers
are driving the market demand. Growing consumer awareness about the benefits of
repair and maintenance of vehicles to maintain vehicle performance and
efficiency is acting as a positive factor for UAE automotive aftermarket. The
original equipment manufacturers are working on improvement of automotive parts
and aftermarket value chain to reach a more significant number of customers.
They are also focusing on enhancing customer experience by optimization the
supply chain and introducing different aftermarket service offerings such as automation
technology relating to the repair and service of automobiles.
An
increase in the do-it-yourself (DIY) customers due to the ongoing automobile
customization trend and the high demand from customers for enhanced comfort and
convenience while traveling is expected to influence the UAE automotive
aftermarket demand over the next five years.
However,
growth in the sales of electric vehicles and integration of vehicle sensors may
restrain the UAE automotive aftermarket growth for the forecast period.
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The
UAE automotive aftermarket is segmented into vehicle type,
component, service channel, regional distribution, and company.
Based
on vehicle type, the market is divided into passenger cars and commercial
vehicles. Commercial vehicles are expected to account for a significant market
share in the forecast period. The strong economic position of the country and
the booming e-commerce industry is fueling the demand for commercial vehicles.
Also, the UAE has seen a significant boom in the construction and
transportation sector.
Based
on components, the market is divided into tires, spark plugs, air filter, fuel
filter, brake pad, brake shoe, brake calliper, batteries, others. Tires are
anticipated to hold the dominant market position through the forecast period
due to rise in the average age of the vehicles and per mile travel which wears
down the tire. The hot and arid climate of the UAE is adversely affecting the
tire condition. Also, the launch of high-performance tires by the market
players is expected to foster increased market growth.
Based
on the service channel, the market is divided into DIFM (Do it for Me), DIY (Do
it Yourself), and OE (Delegating to OEM’s). The DIY (Do it Yourself) segment is
expected to capture the largest market share in the forecast period. The rise in
the demand for vehicle customizations to upgrade the vehicle to the latest
version in a cost-effective way is fueling the demand for DIY (Do it Yourself)
kits among consumers.
Based
on regional analysis, Dubai is expected to witness significant growth opportunities
in the next five years. The ideal location of Dubai and the increased domestic
demand for high-end cars support the market demand. Also, the region is home to
more than 2 million light, medium, and heavy commercial vehicles, thereby
generating the need for spare parts and components in the automotive
aftermarket.
Major
market players operating in the UAE automotive aftermarket are :
·
Robert
Bosch GmbH
·
Bridgestone
Corporation
·
Denso
Sales Middle East & North Africa FZE.
·
AISIN
Middle East
·
JTEKT
Corporation
·
Hitachi
Automotive Systems
·
Continental
AG
·
Yokohama
Rubber Company
·
The
Goodyear Tire & Rubber Company
·
ZF
Friedrichshafen AG
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“Market players are expected to invest
in research and development activities to find innovative solutions and upgrade
the components and parts used in the automobile, such as developing a
high-capacity battery that lasts longer and does not need frequent replacement.
The digitization of the automotive aftermarket can aid the workshop technicians
to use the software and mobile applications to find the right solution to
address complex technical problems. The use of software helps the technicians
to accelerate the repair and maintenance service speed and obtain improved
results. The digital transformation of the distribution chain, use of advanced
technologies and entry of local market players are expected to propel the UAE
automotive aftermarket growth till 2027” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“UAE Automotive
Aftermarket By Vehicle Type (Passenger Cars, Commercial Vehicles), By Component
(Tires, Spark Plugs, Air Filter, Fuel Filter, Brake Pad, Brake Shoe, Brake
Calliper, 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”, has evaluated the future
growth potential of UAE automotive aftermarket and provides statistics &
information on market size, 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 UAE automotive aftermarket.
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