Name: GCC Commercial Vehicle Aftermarket Market and Analysis Report – Opportunities and Forecast 2024-2031
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GCC Commercial Vehicle Aftermarket Market and Analysis Report – Opportunities and Forecast 2024-2031

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GCC Commercial Vehicle Aftermarket present significant opportunities, with over millions of passenger vehicles are currently out of warranty in 2023, and the passenger cars with an out of warranty population is projected to grow at a robust CAGR from 2023-2031.

GCC Commercial Vehicle Aftermarket Overview

GCC commercial vehicle aftermarket is predicted to register strong growth due to the increasing number of commercial vehicles on road. As commercial vehicle fleet increases, the demand for repairs, maintenance and replacement parts will also rise.

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Major GCC Commercial Vehicle Aftermarket Drivers

GCC region is predicted to grow at a higher growth rate owing to the rising oil prices and increasing focus on non-oil industry in countries like Saudi Arabia and UAE. Moreover, increasing demand for new commercial vehicles and aftermarket services is driving the GCC commercial vehicle tires aftermarket. As per the OICA, Saudi Arabia new commercial vehicles sales has increased from 64,835 units in 2020 to 97,006 units in 2022. Rising penetration of e-commerce platforms for purchasing aftermarket products has further supported the market growth.

GCC countries like Saudi Arabia and UAE planned to reduce its dependency on oil sectors. The government is also spending on various mega projects such as Saudi Vision 2030, FIFA World cup, development of smart cities, UAE vision 2030 and Dubai Expo which will boost the tourism across countries. This is expected to increase the demand for commercial vehicles in the GCC region.

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Saudi Arabia commercial vehicle aftermarket holds the largest market share in the GCC region due to the rising sales of commercial cars along with the growing demand for aftermarket services. In addition, increasing demand for replacement parts such as engine parts, clutch, gearbox, tires, brake parts, battery among others will further boost the market growth. UAE commercial vehicle aftermarket is predicted to grow over the forecast period owing to the increasing sales of light commercial vehicles in UAE. UAE reported 36,125 units of new LCV sales in 2022, increased at 12.7% YoY as compared to 2021.

Segments covered in the Report:

The GCC Commercial Vehicle Aftermarket has been segmented on the basis of Vehicle Type, Replacement Parts and Certification. Based on the Vehicle Type, the market is segmented into Light Commercial Vehicles, Heavy Trucks, Buses and Coaches. Based on the 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 the Certification, the market is segmented into Genuine Parts, Certified Parts, Counterfeit Parts, Others. The Filters segment is further segmented into Air Filter, Oil Filter, Others. The Engine Components segment is further segmented into Timing Belt, Spark Plugs, Others.

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Report Coverage	Details
Market Revenues (2022)	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, By Certification
Regional Coverage	GCC
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Market Segmentation