Saudi Arabia Automotive Aftermarket By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, Medium Commercial Vehicle), By Component (Tires, Body & Mechanical parts, Batteries, Accessories & Vehicle Care Products, Lubricants), By Service Channel (DIFM (Do it for Me), OE (Delegating to OEM’s), DIY (Do it Yourself), By Customer Segment (B2C, B2B), By Product Type (Genuine Parts, Aftermarket Parts, Counterfeit Parts) By Region, Competition Forecast & Opportunities, 2017- 2027

  • Industry : Automotive
  • Pages : 100
  • Published Date : June, 2022
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Summary

Report Description

Saudi Arabia Automotive Aftermarket registered market value of USD6,490.35 million in 2021 and is estimated to reach USD9446.95 million in 2027, advancing with a CAGR of 6.43%. Rapidly increasing automobile sales, rapid technological advancement, and an increase in the utilization of vehicles in the transportation and logistics sector are driving the growth of the Saudi Arabia Automotive Aftermarket in the forecast years.

In the scope of the report the market size includes the revenue generated in a particular year through the sales of parts, key components, accessories, and consumables which are used in the replacement market and modification of an automobile.

The year 2020 was pessimistic globally due to the spread of the novel coronavirus. Almost every economy in the world faced slothful growth due to the implementation of lockdown to prevent the spreading of the disease. Saudi Arabia has been hit hard by the COVID-19 pandemic, which has substantially impacted the transportation sector. New car sales were down in 2020, and travel demand was also reduced. The pandemic culminated in a substantial drop in new vehicle sales due to the implementation of a new value-added tax (VAT) that is three times greater than before. Furthermore, consumers put off car maintenance, resulting in a 70 percent to 75 percent loss in revenue from Automotive Aftermarket spare parts sales. Nevertheless, a modest movement towards the automobile aftermarket is foreseen, with spare component sales eventually increasing in the future years.

Growing Competition from Chinese Players

The Saudi Arabia Automotive Aftermarket is highly competitive due to the vast number of Chinese dealers. Several dealerships in the area are part of a diverse local company group with a significant market presence. End-consumers are often price sensitive and have little brand loyalty as a result of the fierce competition. In recent years, the emergence of Chinese businesses and their numerous new product launches have only increased the level of competition. Due to the competitive nature of the market, dealers must always focus on providing creative and cost-efficient items as well as devising effective marketing efforts.

New Product Development

Manufacturers of automotive parts have constantly been working over the last few years to improve design, materials, feel, look, capacity, usefulness, and overall user experience. Continuous product innovation aids car manufacturers in remaining relevant in the marketplace and growing steadily. Automotive manufacturers have spent the last five years concentrating their research and development efforts on energy-saving technologies, lower-emission products, and electric automobiles, among several other things. On February 26 in Diriyah, Saudi Arabia, experts from ZF and Mahindra Racing collaborated on an entirely new electric drivetrain. The inverter in ZF's Formula E drivetrain is made of silicon carbide. It enables for a significant increase in efficiency while keeping performance at the same level. Other automotive component manufacturers are substantially investing in product innovation, which is projected to fuel the market over the next years.

Expansion of Sales and Distribution Network

Saudi Arabia's automotive aftermarket is mostly a replacement market due to the country's lack of vehicle and automotive component manufacturing capabilities, which forces it to rely largely on imports. Automotive component manufacturers engage local distributors in Saudi Arabia to manage demand for Automotive Aftermarket components, operating as an appropriate intermediate between the automotive component manufacturing organization and the end-user. For example, Bridgestone appointed Al-Talayi Company Limited as its authorized distributor in Saudi Arabia, Goodyear Tire and Rubber Company appointed Al Rashed Tires Co., Hankook Tire and Rubber Company appointed Binshihon Group of Companies, Pirelli appointed United Yousef M.Naghi Co Ltd, and so on. Auto parts manufacturers are continuously enhancing their distribution channels for aftermarket automobile components to improve market penetration in the region. Furthermore, when new companies enter the market, the distribution network continues to evolve in order to fulfill a wide range of consumers.

Growing Automotive Aftermarket

Saudi Arabia is known for its arid and hot climate and has seen a tremendous increase in the number of automobiles on the road, resulting in a thriving market for automotive components and maintenance services. The sector has gained momentum as a result of the continual need to repair batteries, tires, and other components in commercial and passenger cars owing to wear and tear in the harsh climate. Furthermore, cars older than ten years are expected to account for 31% of the vehicle fleet in 2020. An existing aging vehicle fleet, along with owners' tendency to keep their automobiles for extended periods of time in a difficult economy, is expected to drive up demand for automotive parts and services. The adoption of advancements in automobiles, on the other hand, has resulted in an increasing need for new parts at repair shops.


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Market Segmentation

The Saudi Arabia Automotive Aftermarket is segmented into vehicle type, by component, by service channel, by customer segment, by product type, and by region.  On the basis of vehicle type the market is segmented into passenger car, light commercial vehicle, medium commercial vehicle, heavy commercial vehicle. On the basis of component the market is segmented into tires, batteries, lubricants, body & mechanical parts, accessories & vehicle care products) .On the basis of service channel the market is further segmented into ((DIFM (Do it for Me), DIY (Do it Yourself), OE (Delegating to OEM’s)), on the basis of customer segment into B2B, B2C. On the basis of product type, it is segmented into Genuine Parts, Aftermarket Parts, Counterfeit Parts. On the basis of region, the market is divided into Northern and Central Region, Eastern Region, Western Region, Southern Region.

Company Profiles

The key players such as Continental AG, Michelin Group, Bridgestone Corporation, The Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, Robert Bosch GmbH, 3M Company, Denso Sales Middle East & North Africa FZE., Saudi Arabian Oil Co., Yokohama Rubber Company are operating in the Saudi Arabia Automotive Aftermarket. Therefore, these companies are in the process of dilating their operations in local as well as in the international markets. As the Automotive Aftermarket is specified by acquisitions, mergers, also collaborations between numerous manufacturers are trying to tap into latent markets. In the upcoming years the market for aftermarket components is expected to rise notably over the forecast period. Vehicle component manufacturers are investing substantially in their research and development and are consecutively rising up their portfolio and including variety of automotive component models. 

Attribute

Details

Market size value in 2021

USD6,490.35 Million

Revenue Forecast in 2027

USD9,446.95 Million

Growth Rate

6.43%

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Vehicle Type

·         Component

·         Service Channel

·         Customer Segment

·         Product Type

Regional Scope

Northern and Central Region, Eastern Region, Western Region, Southern Region.

Key Companies Profiled

Continental AG, Michelin Group, Bridgestone Corporation, The Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, Robert Bosch GmbH,3M Company, Denso Sales Middle East & North Africa FZE., Saudi Arabian Oil Co., Yokohama Rubber Company.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & 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/pdf format on special request)

 

Report Scope:

In this report, Saudi Arabia Automotive Aftermarket has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia Automotive Aftermarket, By Vehicle Type:
    • Passenger Car
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle
    • Medium Commercial Vehicle
  • Saudi Arabia Automotive Aftermarket, By Component:
    • Tires
    • Body & Mechanical parts
    • Batteries
    • Accessories & Vehicle Care Products
    • Lubricants
  • Saudi Arabia Automotive Aftermarket, By Service Channel:
    • DIFM (Do it for Me)
    • OE (Delegating to OEM's)
    • DIY (Do it Yourself)
  • Saudi Arabia Automotive Aftermarket, By Customer Segment:
    • B2C
    • B2B
  • Saudi Arabia Automotive Aftermarket, By Product Type:
    • Genuine Parts
    • Aftermarket Parts
    • Counterfeit Parts
  • Saudi Arabia Automotive Aftermarket, By Region:
    • Northern and Central Region
    • Western Region
    • Southern Region
    • Eastern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Automotive Aftermarket.

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).

Table of content

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Saudi Arabia Automotive Aftermarket

5.    Voice of Customer

5.1.  Factors Influencing Decision Making

5.2.  Aided Brand Recall and Unaided Brand Recall

5.3.  Brand Satisfaction Level

6.    Saudi Arabia Automotive Aftermarket Outlook, 2017-2027F

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium Commercial Vehicle and Heavy Commercial Vehicle)

6.2.2.    By Component (Tires, Batteries, Lubricants, Body & Mechanical parts and Accessories & vehicle care products)

6.2.2.1.        By Volume & Value

6.2.3.    By Service Channel (DIFM (Do it for Me), DIY (Do it Yourself), and OE (Delegating to OEM’s)

6.2.3.1.        By Volume & Value

6.2.4.    By Customer Segment (B2B, B2C)

6.2.5.    By Product Type (Genuine Parts, Aftermarket Parts, Counterfeit Parts)

6.2.6.    By Region

6.2.7.    By Company (2021)

6.3.  Product Market Map (By Vehicle Type, By Component, By Service Channel, By Customer Segment, By Product Type, By Region)

7.    Saudi Arabia Passenger Car Aftermarket Outlook, 2017-2027F

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Vehicle Type (Hatchback, Sedan, SUV/MPV)

7.2.2.    By Component

7.2.2.1.        By Volume & Value

7.2.3.    By Service Channel

7.2.3.1.        By Volume & Value

7.2.4.    By Customer Segment

7.2.5.    By Product Type

8.    Saudi Arabia Light Commercial Vehicle Aftermarket Outlook, 2017-2027F

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Vehicle Type (Van and Pick-up Truck)

8.2.2.    By Component

8.2.2.1.        By Volume & Value

8.2.3.    By Service Channel

8.2.3.1.        By Volume & Value

8.2.4.    By Customer Segment

8.2.5.    By Product Type

9.    Saudi Arabia Heavy Commercial Vehicle Aftermarket Outlook, 2017-2027F

9.1.  Market Size & Forecast

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Vehicle Type (Heavy Truck, Heavy Bus)

9.2.2.    By Component

9.2.2.1.        By Volume & Value

9.2.3.    By Service Channel

9.2.3.1.        By Volume & Value

9.2.4.    By Customer Segment

9.2.5.    By Product Type

10. Saudi Arabia Medium Commercial Vehicle Aftermarket Outlook, 2017-2027F

10.1.             Market Size & Forecast

10.1.1. By Value & Volume

10.2.             Market Share & Forecast

10.2.1. By Vehicle Type (Medium Truck, Medium Bus)

10.2.2. By Component

10.2.2.1.     By Volume & Value

10.2.3. By Service Channel

10.2.3.1.     By Volume & Value

10.2.4. By Customer Segment

10.2.5. By Product Type

11. Market Dynamics

11.1.             Drivers

11.2.             Challenges

12. Market Trends and Developments

13. Policy and Regulatory Landscape

14. Saudi Arabia Economic Profile

15. Competitive Landscape

15.1.             Robert Bosch GmbH

15.2.             3M Company

15.3.             Bridgestone Corporation

15.4.             Denso Sales Middle East & North Africa FZE.

15.5.             The Goodyear Tire & Rubber Company

15.6.             Michelin Group

15.7.             Saudi Arabian Oil Co.

15.8.             The Yokohama Rubber Co., Ltd.

15.9.             ZF Friedrichshafen AG

15.10.          Continental AG

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

List of Figures

Figure 1:          Saudi Arabia Automotive Aftermarket Size, By Value (USD Million) and Volume (Thousand Units), 2017-2027F

Figure 2:          Saudi Arabia Automotive Aftermarket Share, By Vehicle Type, By Volume, 2017-2027F

Figure 3:          Saudi Arabia Automotive Aftermarket Share, By Component, By Volume, 2017-2027F

Figure 4:          Saudi Arabia Automotive Aftermarket Share, By Component, By Value, 2017-2027F

Figure 5:          Saudi Arabia Automotive Aftermarket Share, By Service Channel, By Volume, 2017-2027F

Figure 6:          Saudi Arabia Automotive Aftermarket Share, By Service Channel, By Value, 2017-2027F

Figure 7:          Saudi Arabia Automotive Aftermarket Share, By Customer Segment, By Volume, 2017-2027F

Figure 8:          Saudi Arabia Automotive Aftermarket Share, By Product Type, By Volume, 2017-2027F

Figure 9:          Saudi Arabia Automotive Aftermarket Share, By Region, By Volume, 2017-2027F

Figure 10:        Saudi Arabia Automotive Aftermarket Share, By Company, By Value, 2021

Figure 11:        Saudi Arabia Automotive Aftermarket Map, By Vehicle Type, Market Size (USD Million) & Growth Rate (%)

Figure 12:        Saudi Arabia Automotive Aftermarket Map, By Component, Market Size (USD Million) & Growth Rate (%)

Figure 13:        Saudi Arabia Automotive Aftermarket Map, By Service Channel, Market Size (USD Million) & Growth Rate (%)

Figure 14:        Saudi Arabia Automotive Aftermarket Map, By Customer Segment, Market Size (USD Million) & Growth Rate (%)

Figure 15:        Saudi Arabia Automotive Aftermarket Map, By Product Type, Market Size (USD Million) & Growth Rate (%)

Figure 16:        Saudi Arabia Automotive Aftermarket Map, By Region, Market Size (USD Million) & Growth Rate (%)

Figure 17:        Saudi Arabia Passenger Car Aftermarket Size, By Value (USD Million) and Volume (Thousand Units), 2017-2027F

Figure 18:        Saudi Arabia Passenger Car Aftermarket Share, By Vehicle Type, By Volume, 2017-2027F

Figure 19:        Saudi Arabia Passenger Car Aftermarket, By Component, By Volume, 2017-2027F

Figure 20:        Saudi Arabia Passenger Car Aftermarket, By Component, By Value, 2017-2027F

Figure 21:        Saudi Arabia Passenger Car Aftermarket Share, By Service Channel, By Volume, 2017-2027F

Figure 22:        Saudi Arabia Passenger Car Aftermarket Share, By Service Channel, By Value, 2017-2027F

Figure 23:        Saudi Arabia Passenger Car Aftermarket Share, By Customer Segment, By Volume, 2017-2027F

Figure 24:        Saudi Arabia Passenger Car Aftermarket Share, By Product Type, By Volume, 2017-2027F

Figure 25:        Saudi Arabia Light Commercial Vehicle Aftermarket Size, By Value (USD Million) and Volume (Thousand Units), 2017-2027F

Figure 26:        Saudi Arabia Light Commercial Vehicle Aftermarket Share, By Vehicle Type, By Volume, 2017-2027F

Figure 27:        Saudi Arabia Light Commercial Vehicle Aftermarket, By Component, By Volume, 2017-2027F

Figure 28:        Saudi Arabia Light Commercial Vehicle Aftermarket, By Component, By Value, 2017-2027F

Figure 29:        Saudi Arabia Light Commercial Vehicle Aftermarket Share, By Service Channel, By Volume, 2017-2027F

Figure 30:        Saudi Arabia Light Commercial Vehicle Aftermarket Share, By Service Channel, By Value, 2017-2027F

Figure 31:        Saudi Arabia Light Commercial Vehicle Aftermarket Share, By Customer Segment, By Volume, 2017-2027F

Figure 32:        Saudi Arabia Light Commercial Vehicle Aftermarket Share, By Product Type, By Volume, 2017-2027F

Figure 33:        Saudi Arabia Heavy Commercial Vehicle Aftermarket Size, By Value (USD Million) and Volume (Thousand Units), 2017-2027F

Figure 34:        Saudi Arabia Heavy Commercial Vehicle Aftermarket Share, By Vehicle Type, By Volume, 2017-2027F

Figure 35:        Saudi Arabia Heavy Commercial Vehicle Aftermarket, By Component, By Volume, 2017-2027F

Figure 36:        Saudi Arabia Heavy Commercial Vehicle Aftermarket, By Component, By Value, 2017-2027F

Figure 37:        Saudi Arabia Heavy Commercial Vehicle Aftermarket Share, By Service Channel, By Volume, 2017-2027F

Figure 38:        Saudi Arabia Heavy Commercial Vehicle Aftermarket Share, By Service Channel, By Value 2017-2027F

Figure 39:        Saudi Arabia Heavy Commercial Vehicle Aftermarket Share, By Customer Segment, By Volume, 2017-2027F

Figure 40:        Saudi Arabia Heavy Commercial Vehicle Aftermarket Share, By Product Type, By Volume, 2017-2027F

Figure 41:        Saudi Arabia Medium Commercial Vehicle Aftermarket Size, By Value (USD Million) and Volume (Thousand Units), 2017-2027F

Figure 42:        Saudi Arabia Medium Commercial Vehicle Aftermarket Share, By Vehicle Type, By Volume, 2017-2027F

Figure 43:        Saudi Arabia Medium Commercial Vehicle Aftermarket, By Component, By Volume, 2017-2027F

Figure 44:        Saudi Arabia Medium Commercial Vehicle Aftermarket, By Component, By Value, 2017-2027F

Figure 45:        Saudi Arabia Medium Commercial Vehicle Aftermarket Share, By Service Channel, By Volume, 2017-2027F

Figure 46:        Saudi Arabia Medium Commercial Vehicle Aftermarket Share, By Service Channel, By Value, 2017-2027F

Figure 47:        Saudi Arabia Medium Commercial Vehicle Aftermarket Share, By Customer Segment, By Volume, 2017-2027F

Figure 48:        Saudi Arabia Medium Commercial Vehicle Aftermarket Share, By Product Type, By Volume, 2017-2027F

Frequently asked questions

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In 2021, the Saudi Arabia Automotive Aftermarket estimated was at USD6,490.35 million and USD9446.95 million in 2027, growing with a CAGR of 6.43% in 2027 owing to the increase in vehicle sales and technological advancement.

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The tire segment holds around 60% of the total share in the Saudi Arabia Automotive Aftermarket and has a positive growing trend in the upcoming years, as the tire has high replacement ratio compared to any other components.

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Growing trend of vehicle off roading which require vehicle modification and enhancement as well as rise in shared mobility and increase in construction activities are the major factors driving the Saudi Arabia Automotive Aftermarket growth.

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The top 10 players in the Saudi Arabia Automotive Aftermarket are Continental AG, Michelin Group, Bridgestone Corporation, The Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, Robert Bosch GmbH,3M Company, Denso Sales Middle East & North Africa FZE., Saudi Arabian Oil Co., Yokohama Rubber Company.

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Srishti Verma

Business Consultant
Press Release

Saudi Arabia Automotive Aftermarket Market to grow at a CAGR of 6.43% through 2027

Jun, 2022

Increasing automobile sales coupled with growing utilization of vehicles in transportation and logistics sector is expected to drive the growth of Saudi Arabia Automotive Aftermarket in the forecast

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