The Middle East spare parts market is
expected to grow at a steady rate during the forecast period. An increase in the automobile fleet coupled with various
ongoing construction and infrastructural development activities to boost
the economic structure is the major driver for the forecast period. A surge in
demand for vehicle modifications and enhanced automobile performance is fueling
the demand for spare parts in the Middle East. Removal of a ban on female
driving is expected to increase the sales of automobile spare parts. Rising
inflation and interest rates are expected to slow down the automobile market
growth, which in turn is expected to propel the Middle East spare parts market
growth. Automobile owners are actively accepting automotive spare parts to
enhance the vehicle performance in terms of exhaust sound, speed, appearance,
among others, as spare parts are cost-effective in nature in comparison to
buying a new vehicle. Growing demand for automobiles, along with the adoption
of the latest technologies such as 3D printing of automotive parts, is expected
to optimize the production cost of automotive parts, thereby accelerating the
demand for spare parts in automobiles. Consumers prefer original parts and are
manufactured by original equipment manufacturers, and original spare parts have
greater quality, performance, are easily available, and have a warranty period
which in turn is expected to foster market growth.
The Middle East spare parts market can
be segregated into type into vehicle type, component, regional distribution,
and company. Based on vehicle type, the market can be bifurcated into passenger
cars and commercial vehicles. The passenger vehicle type segment is expected to
account for major market share for the forecast period, 2024-2028. Increasing
preference for vehicle ownership and rising disposable income among consumers
are contributing to strengthening the market growth.
The major players operating in the
Middle East spare parts market include Robert Bosch
GmbH, Bridgestone Corp., Yokohama Rubber Company Limited, Goodyear Tire &
Rubber Company, AC Delco, Exide Industries, Schaeffler Technologies AG
& Co. KG, Hyundai Mobis, Mitsui, Continental AG. Major companies are
developing advanced technologies to stay competitive in the market. Other
competitive strategies include mergers & acquisitions.
Objective of the Study:
- To analyze and forecast the market size of Middle
East spare parts market.
- To classify and forecast Middle East spare
parts market based on vehicle type, component,
regional distribution, and company.
- To identify drivers and challenges for Middle
East spare parts market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Middle
East spare parts market.
- To identify and analyze the profile of leading
players operating in the Middle East spare parts market.
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TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of manufacturers across the globe. Subsequently, TechSci Research conducted
primary research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research could include the manufacturers which could not be identified
due to the limitations of secondary research. TechSci Research analyzed the manufacturers,
distribution channels and presence of all major manufacturers across the globe.
TechSci
Research calculated the market size of Middle East spare parts market by using a bottom-up approach, where data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these services and
applications for getting an appropriate, overall market size. Various secondary
sources such as company websites, news articles, press releases, company annual
reports, investor presentations and financial reports were also studied by
TechSci Research.
Key Target Audience:
- Spare part manufacturers, suppliers, distributors,
and other stakeholders.
- Research organizations and consulting companies
- Trade associations, organizations, forums, and
alliances related to spare parts.
- Government bodies such as regulating authorities
and policy makers
- Industry associations
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers
and partners, end users, etc., besides allowing them in strategizing
investments and capitalizing on market opportunities.
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic Data
|
2018 –
2021
|
|
Estimated Year
|
2023
|
|
Forecast Period
|
2024
– 2028
|
|
Quantitative Units
|
Revenue in USD Million, Volume in Units, and CAGR for 2018-2022
and 2023-2028
|
|
Report coverage
|
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments covered
|
·
Vehicle Type
·
Component
|
|
Country scope
|
Saudi
Arabia; United Arab Emirates; Kuwait; Oman; Qatar; Bahrain
|
|
Key companies profiled
|
Robert Bosch GmbH, Bridgestone Corp., Yokohama Rubber Company
Limited, Goodyear Tire & Rubber Company, AC Delco, Exide Industries,
Schaeffler Technologies AG & Co. KG, Hyundai Mobis, Mitsui, Continental
AG
|
|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to country,
& segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request)
|
Report Scope:
In this report, Middle East spare parts market has been
segmented into following categories, in addition to the industry trends which
have also been detailed below:
·
Middle East Spare
Parts Market, By Vehicle Type:
o Passenger Car
o Commercial Vehicle
·
Middle East Spare Parts Market, By Component:
o
Tires
o
Batteries
o
Brake
Components
o
Others
·
Middle East Spare Parts Market, By Country:
o Saudi Arabia
o United Arab Emirates
o Kuwait
o Oman
o Qatar
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in Middle East spare parts market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed
analysis and profiling of additional market players (up to five).
In case you don’t find what, you are looking for, please get in touch
with our custom research team at [email protected]