Egypt automotive aftermarket is expected to register robust growth in the
forecast period, 2023-2027. The inflating crash repair and wear & tear are
supporting the aftermarket component demand. With this, the growing customer
expectations, continuous technological innovations, and the increasing
competition across the automotive industry are the significant factors fueling
the industry expansion. Th enhancing competition in the automotive industry is
improving the development of online forums for automotive parts. Various
manufacturers are expected to offer easy shipping options, flexibility, and
seamless online information to bolster the sales of their products. Along with
this, consumers are likely to compare products & prices before making a
purchase. The rising in convenience combined with the low cost of shipping are
supporting the sale of automotive products throughout coupled with the
significant growth of international manufacturers penetration is expected to
propel the market growth in the coming years.
Rise in the Average Age
of Vehicles is Expected to Boost the Market Growth
Continuous advancements
in material and technology that widely utilized for automotive manufacturing
which has further increased the average operational age of vehicles is fueling
the growth of the market. With this, the increasing number of vehicles with
over 12 years of age is supporting the growth of the market. Along with this, as per the study it has been
observed that number of vehicles that are 16-24 years old is increasing in
recent years which also drives the market growth. The reliability of the
vehicles has been significantly increased in the recent past. Moreover, the
rising average operational age of a vehicle and significant increase in the
number of aftermarkets are accelerating the market growth. According to the
data revelated by the Department of Transportation, the average age of
passenger cars increased which is expected to fuel the market growth in the
coming years.
Increase in concern over
vehicle safety is Projected to Stimulate the Growth of the Market
The expanding number of
road accidents caused on account of the breakdown of automotive components
drives the market growth. This further resulted in increased awareness among public
about the timely maintenance and repair of the vehicle propels the growth of
the market. The service of life of
various automotive components is greatly dependent on the usage as automotive
components have threshold lifespan. Furthermore, the service life of automotive
components is highly dependent on utilization, as components have threshold
lifespan which catalyses the market growth. The constant changing driving
conditions warrant timely repair, maintenance, and replacement automotive parts
is anticipated to cushion the market growth in the future years.