GCC Automotive Aftermarket Market

GCC Automotive Aftermarket Market is Projected to add USD 5.4 billion of revenues between 2022 to 2030, growing at a robust growth rate till 2030.

To have the edge over the competition by knowing the market dynamics and current trends of “GCC Automotive Aftermarket Market,” request for Sample Report here

Major GCC Automotive Aftermarket Drivers

Economic growth in the GCC region plunged to -4.3% in 2020 due to the COVID 19 lockdown coupled with low crude oil prices impacting the demand for new car sales across the region. The region’s economic activities increased in 2021 due to the high rate of vaccinations across the region has also increased demand for car sales and aftermarket sales. As per the IMF forecast, the GCC economy is expected to grow at a higher rate of 6.4% by 2022 due to the increasing oil prices and the growth in the oil and non-oil sectors including automotive sectors across GCC countries. In addition, the growing demand for new cars and aftermarket services driven by the increasing disposable income of consumers will future create opportunities for the automotive aftermarket in GCC countries like Saudi Arabia and UAE. The other factors that support the growth of the GCC aftermarket auto parts industry include growing demand for spare parts for vehicle modification, rising investment in new distribution channels and increasing commercial and passenger car sales. Moreover, an increase in new passenger car sales in countries like Saudi Arabia and UAE will further support the market growth. Saudi Arabia captured 57.9 percent and UAE captured 20.2 percent share of total vehicles sold in 2021 across the GCC region. Saudi Arabia sold 516 thousand units of vehicles in 2021. Increasing female drivers due to the rising women workforce participation have further created new growth opportunities in the automotive industry. Rising government initiatives toward non-oil sectors such as Saudi Arabia Vision 2030, UAE Vision 2030 and the development of smart cities will upsurge the automotive aftermarket in GCC. For instance, the Saudi Arabia government increased VAT from 5% to 15% effective from 1st July 2020. The Bahrain government announced new regulations for registration of used imported cars.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Vehicle Type – Segment Analysis

Based on the vehicle type, passenger vehicle is predicted to dominate the GCC automotive aftermarket till 2028 due to the rising new vehicle sales and the increasing disposable income of consumers. Saudi Arabia is the largest market for passenger vehicle sales across the region, with total new car sales of 516 thousand units in 2021. Moreover, the Saudi government lifted a ban on women driving in 2018 and the recovery of oil prices will further boost the market growth. According to the IMF, GCC reported 776 thousand passenger car sales, which increased at 15.6% YoY in 2021 and is projected to increase by 7.8% in 2022.

Countries – Segment Analysis

Based on the countries, the UAE is expected to grow at the fastest rate in the GCC automotive parts market during the forecast period owing to the rising concerns related to vehicle safety and the increasing new car sales in the UAE region. UAE is the second largest region for passenger car sales across the GCC region. Moreover, the increasing popularity of the e-commerce industry coupled with the rising adoption of the online sales platform for availing aftermarket services among consumers will upsurge the demand for the automotive aftermarket in UAE.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Customization here

Top Market Players

Various notable players operating in the GCC Automotive Aftermarket market include Toyota Motor Corporation, Continental Almutlak, Delphi Technologies, DENSO Corporation, Michelin, ACDelco (General Motors), Robert Bosch, FZE, GoodYear, Nissan Motor Co., Ltd. and (Motorcraft) Ford Motor Company, among others.

Key Developments:

• • In 2021, Nissan KSA developed the latest online service in their mission to incorporate digitalization across their operations and services, providing customers with the convenience of booking their car servicing needs online.
  • In 2020, Continental officially announced the launch of an automotive aftermarket web portal for users across the globe. The company is bundling information about its product and service portfolio for the automotive aftermarket in a new online portal. This strategy has helped in the surge for the automotive aftermarket in Saudi Arabia, which has pushed online sales.

Segments covered in the Report:

The GCC Automotive Aftermarket has been segmented on the basis of vehicle type, certification, replacement part. Based on the vehicle type, the market has been segmented into commercial vehicles and passenger vehicles. By replacement parts, the market is segmented into tire, battery, brake parts, filters, Lighting Components, Electronic components, Lubricants, Clutch Parts, Engine Components and others. Based on certification, the market has been segmented into Genuine Parts, Certified Parts, Counterfeit Parts, Others.

For detailed scope of the “GCC Automotive Aftermarket Trends” report request a Sample Copy of the report

Report Coverage	Details
Market Revenues Currency	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Vehicle Type, By Replacement Parts and By Certification
Regional Coverage	GCC
Companies Profiled	Toyota Motor Corporation, Continental Almutlak, Delphi Technologies, DENSO Corporation, Michelin, ACDelco (General Motors), Robert Bosch, FZE, GoodYear, Nissan Motor Co., Ltd. and (Motorcraft) Ford Motor Company, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

GCC Automotive Aftermarket by Vehicle Type

• • Commercial Vehicles
  • Passenger Vehicles

GCC Automotive Aftermarket by Replacement Parts

• • Tire
  • Battery
  • Brake Parts
  • Filters
    • Air Filter​
    • Oil Filter​
    • Others​
  • Lighting Components​
  • Electronic components​
  • Lubricants​
  • Clutch Parts​
  • Engine Components
    • Timing Belt​
    • Spark Plugs​
    • Others​
  • Others

GCC Automotive Aftermarket by Certification

• • Genuine Parts
  • Certified Parts
  • Counterfeit Parts
  • Others

    GCC Automotive Aftermarket by Countries

• • UAE Automotive Aftermarket Market All-Up (Option 1: Free 25% Customization)
  • Saudi Arabia Automotive Aftermarket Market All-Up (Option 2: Free 25% Customization)
  • Oman Automotive Aftermarket Market All-Up (Option 3: Free 25% Customization)
  • Kuwait Automotive Aftermarket Market All-Up (Option 4: Free 25% Customization)
  • Rest of GCC Automotive Aftermarket Market All-Up (Option 5: Free 25% Customization)

GCC Automotive Aftermarket Leading market players (Option 6: As a part of free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Toyota Motor Corporation
  • Continental Almutlak
  • Delphi Technologies
  • DENSO Corporation, Michelin
  • ACDelco (General Motors)
  • Robert Bosch, FZE
  • GoodYear
  • Nissan Motor Co., Ltd.
  • (Motorcraft) Ford Motor Company