Saudi Arabia Spare Parts Market to Grow with a CAGR of 6.24% through 2030
Government regulations
promoting vehicle maintenance, the rising number of vehicles on the road, and
increased consumer awareness regarding vehicle longevity are the factors
driving the market in the forecast period 2026-2030.
According to TechSci Research report, “Saudi Arabia Spare Parts
Market – Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”,
The Saudi Arabia Spare Parts Market was valued at USD 4.78 Billion in 2024 and
is expected to reach USD 6.87 Billion by 2030 with a CAGR of 6.24% during the
forecast period. The spare parts market in Saudi Arabia is steadily expanding
as more vehicles hit the roads, leading to an increased need for regular
upkeep. Vehicle owners are becoming more aware of the importance of maintenance
to ensure vehicle longevity and safety, which drives the demand for spare parts
such as tires, brakes, and batteries. As consumer interest grows in parts that
offer both performance and comfort, the market continues to evolve.
Vehicle safety plays a significant role in driving the demand for
high-quality spare parts. With technological innovations in vehicle components,
newer models require specialized parts. This is complemented by the growing
popularity of electric and hybrid vehicles, which introduce unique spare parts
needs. As the automotive industry changes, these new vehicles are creating
demand for specialized parts that were previously not needed. While the market
shows promising growth, it faces challenges like the high cost of replacement
parts and the widespread presence of counterfeit products, which undermine
consumer trust. The lack of skilled technicians trained in advanced systems
also limits repair and maintenance capabilities. Overcoming these obstacles is
essential to ensuring continued market progress.
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Saudi Arabia Spare Parts Market Is
Segmented By Vehicle Type, Component Type, Distribution Channel, and Region.
The Saudi Arabia spare
parts market is segmented into two main categories: passenger cars and
commercial vehicles, each catering to distinct automotive needs. Passenger cars
represent the largest segment, as they are the most common type of vehicle on
the road. These vehicles require a wide range of spare parts, from basic
components like tires, brakes, and batteries to more advanced systems such as
infotainment and lighting. As more people purchase passenger vehicles for
personal and family use, the demand for replacement parts continues to grow.
Consumers often seek high-quality parts that ensure safety, performance, and
longevity, which has driven the development of a competitive aftermarket
sector. On the other hand, commercial vehicles include a variety of vehicles
used in businesses and logistics, such as trucks, delivery vans, and buses.
These vehicles are integral to the country’s transportation and goods delivery
sectors. Spare parts for commercial vehicles tend to be larger, more robust,
and sometimes specialized for specific industries. The demand for commercial
vehicle parts is influenced by factors such as fleet maintenance, logistics
needs, and the necessity to ensure the vehicles remain operational for longer
periods. With the growing emphasis on improving logistics and transportation
infrastructure in Saudi Arabia, the commercial vehicle spare parts segment is
experiencing steady growth.
In 2024, the Eastern region
of Saudi Arabia is witnessing substantial growth in the spare parts market.
This growth is largely driven by the region's strategic positioning as a hub
for industrial activity, including oil and gas sectors, which heavily depend on
vehicle fleets for transportation and logistics. As businesses expand in the
Eastern region, the demand for commercial vehicle spare parts continues to
rise, driven by the need to maintain and repair vehicles used in heavy-duty
industries. Moreover, the Eastern region is seeing a rise in urbanization, with
more people owning passenger vehicles, which increases the demand for
replacement parts. The region's growing infrastructure and expansion of road
networks also contribute to the rising need for vehicle maintenance and spare
parts. As a result, the market for both passenger and commercial vehicle spare
parts in the Eastern region is poised for continued growth in 2024.
Major Market Players
Operating in Saudi Arabia Spare Parts Market Are:
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Panasonic Corporation
- Magna International Inc
- Lear Corporation
- Faurecia S.A.
- Visteon Corporation
- Yanfeng Spare Partss
- Faurecia SE
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Saudi Arabia’s spare parts market is gaining
significant momentum as consumers increasingly prioritize vehicle performance,
durability, and maintenance. More than just owning a car, vehicle owners are
focusing on ensuring their cars run efficiently and are equipped with advanced
components for a better driving experience. The demand for high-quality
replacement parts, especially for key components such as engines, brakes, and
suspension systems, is growing as consumers seek to extend the lifespan of their
vehicles. With the country’s expanding automotive industry and rising vehicle
ownership, the need for reliable spare parts is becoming more crucial. There
are ample opportunities for innovation, particularly in areas like aftermarket
parts and customization. As the market continues to evolve, it presents
exciting prospects for both manufacturers and consumers, with new advancements
in spare part technology expected to further boost growth in the coming years.,
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
global management consulting firm.
The report titled “Sau Saudi Arabia Spare Parts Market – Size, Share, Trends, Opportunity, and
Forecast, Segmented By Vehicle Type (Passenger Cars, Commercial Vehicles), By
Component Type (Tires, Batteries, Air Filter, Brake Shoe, Spark Plugs, Brake
Pad, Brake Caliper, Other), By Distribution Channel (OEM, Aftermarket), Region,
By Competition, 2020-2030F”, assesses the market's future growth potential and
provides data on market size, trends, and forecasts. It aims to offer
comprehensive market insights, helping decision-makers make informed investment
choices. The report also highlights emerging trends, key drivers, challenges,
and opportunities in the Saudi Arabia Spare Parts Market.
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