Saudi Arabia Automotive Spare Parts Market Growth, Size, Trends, Revenue and Future Outlook
Saudi Arabia Automotive Spare Parts Market Size- By Vehicle Type, By Component, By Service - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Mar-2023 | Report ID: AMIN2369 | Pages: 1 - 109 | Formats*: |
| Category : Automotive & Transportation | |||
Saudi Arabia Automotive Spare Parts Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Automotive Spare Parts Market is estimated to reach USD 10.35 billion by 2033 with a CAGR 7.74%.
The report includes an in-depth analysis of the Saudi Arabia Automotive Spare Parts Market, including market size and trends, product mix, distribution channels, and supplier analysis. Automotive spare parts are parts and accessories that are used to upgrade or replace parts in cars. These components are essential for keeping cars operating and efficient for the duration of their lives through maintenance, repairs, and upgrades. Engine parts (piston, valve, and gasket), transmission parts, brake pads, filters (oil and air), electrical systems (batteries, alternators), and external and interior accessories are just a few examples of the vast array of products they cover.
- October 2022: National Auto Parts Co., a new subsidiary of Saudi Arabian lubricants and automotive services major Petromin Corp., will offer multi-brand vehicle spare parts to independent garages and wholesalers in the nation via an online platform.
Market Opportunities and Challenges
Opportunities: The growing average age of vehicles, increased levels of vehicle customization, and the growing use of cutting-edge developing technologies in the production of automotive spare parts are driving the Saudi Arabian spare parts industry. In addition, a growing focus on guaranteeing passenger and vehicle safety while driving, together with the growing acceptance of e-commerce platforms, are anticipated to fuel the market's expansion.
The need for auto replacement parts is being driven by Saudi Arabia's growing awareness of vehicle safety. One of the main causes of the high death rates in cars is the use of defective replacement parts. Regular updates to car parts like brake pads, brake shoes, and headlamps can prevent a considerable number of fatalities. In order to guarantee safety in such circumstances, fleet owners have also started equipping their cars with brake pads that include wear sensors. Therefore, it is anticipated that over the forecast period, Saudi Arabia's spare parts market would be driven by an increased focus on vehicle and passenger safety.
Challenges: The market for Automotive Spare Parts in Saudi Arabia also has a number of challenges. As it lacks an automobile or spare part manufacturing industry, Saudi Arabia's spare parts market is vulnerable to fluctuations that occur in the major automotive and spare part manufacturing countries across the region. This means that the nation depends heavily on imports of cars and their replacement parts. The market for replacement components in Saudi Arabia is primarily thought to be the spare parts sector. The price of spare parts and the raw resources needed to produce them can therefore fluctuate, leaving the market susceptible. Thus, significant fluctuations in the cost and availability of raw materials could have an impact on the expansion of the Saudi Arabian spare parts market during the course of the projection year.
Market Competitive Landscape
The spare parts market in Saudi Arabia is quite competitive. A number of significant players in the market are The Goodyear Tire & Rubber Company, Continental AG, Hankook & Company Co., Ltd., GS Yuasa International Ltd., Michelin Group, Robert Bosch GmbH, 3M Company, Bridgestone Corporation, Denso Corporation, and The Goodyear Tire & Rubber Company. These companies are mostly focused on developing novel and effective products, releasing new items, launching market campaigns, engaging in mergers and acquisitions, and engaging in other cooperative operations in order to increase their market share.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Vehicle Type, By Component, By Service |
| Regions covered | Eastern Region, Western Region, Northern Region, Southern Region |
| Companies Covered | 3M Company, Bridgestone Corporation, Continental AG, Denso Corporation, GS Yuasa International Ltd., Hankook & Company Co., Ltd., Michelin Group, Robert Bosch GmbH, The Goodyear Tire & Rubber Company, and The Yokohama Rubber Co., Ltd. |
COVID-19 Impact on Saudi Arabia Automotive Spare Parts Market
The COVID-19 epidemic has had a negative impact on the Saudi Arabian spare parts sector. This is mostly because major manufacturing countries, including China and India, have closed their doors owing to lockdown-related rules and travel bans. A general decline in the market for automotive components has replaced supply chain interruptions as the main obstacle facing the spare parts industry. The demand for commercial vehicle components decreased when all non-essential services were suspended, which hampered the expansion of the spare parts market.
Key Target Audience:
- Automobile Owners and Drivers
- Automobile Repair and Service Centers
- Automobile Manufacturers (OEMs)
- Distributors and Wholesalers
- Retailers
- Fleet Operators
- Government Agencies
- Aftermarket Suppliers
Our in-depth analysis of the Saudi Arabia Automotive Spare Parts Market includes the following segments:
| By Vehicle Type: |
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| By Component: |
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| By Service: |
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Key Topics Covered in the Report:
- Saudi Arabia Automotive Spare Parts Market Size (FY’2024-FY’2033)
- Overview of Saudi Arabia Automotive Spare Parts Market
- Segmentation of Saudi Arabia Automotive Spare Parts Market By Vehicle Type (Passenger Cars, Commercial Vehicles)
- Segmentation of Saudi Arabia Automotive Spare Parts Market By Component (Tires, Batteries, Air Filter, Brake Shoe, Spark Plugs, Brake Pad, Brake Caliper)
- Segmentation of Saudi Arabia Automotive Spare Parts Market By Service {DIFM (Do it for Me), OE (Delegating), DIY (Do it Yourself)}
- Expansion Analysis of Saudi Arabia Automotive Spare Parts Market
- Problems and Obstacles in Saudi Arabia Automotive Spare Parts Market
- Competitive Landscape in the Saudi Arabia Automotive Spare Parts Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Automotive Spare Parts Market
- Details on Current Investment in Saudi Arabia Automotive Spare Parts Market
- Competitive Analysis of Saudi Arabia Automotive Spare Parts Market
- Prominent Players in the Saudi Arabia Automotive Spare Parts Market
- SWOT Analysis of Saudi Arabia Automotive Spare Parts Market
- Saudi Arabia Automotive Spare Parts Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Saudi Arabia Automotive Spare Parts Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Automotive Spare Parts Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Automotive Spare Parts Market
7. Saudi Arabia Automotive Spare Parts Market, By Vehicle Type (USD Million) 2020-2033
7.1. Saudi Arabia Automotive Spare Parts Market Size, Share and Forecast, By Vehicle Type, 2020-20267.2. Saudi Arabia Automotive Spare Parts Market Size, Share and Forecast, By Vehicle Type, 2027-20337.3. Passenger Cars7.4. Commercial Vehicles
8. Saudi Arabia Automotive Spare Parts Market, By Component (USD Million) 2020-2033
8.1. Saudi Arabia Automotive Spare Parts Market Size, Share and Forecast, By Component, 2020-20268.2. Saudi Arabia Automotive Spare Parts Market Size, Share and Forecast, By Component, 2027-20338.3. Tires8.4. Batteries8.5. Air Filter8.6. Brake Shoe8.7. Spark Plugs8.8. Brake Pad8.9. Brake Caliper
9. Saudi Arabia Automotive Spare Parts Market, By Service (USD Million) 2020-2033
9.1. Saudi Arabia Automotive Spare Parts Market Size, Share and Forecast, By Service, 2020-20269.2. Saudi Arabia Automotive Spare Parts Market Size, Share and Forecast, By Service, 2027-20339.3. DIFM (Do it for Me)9.4. OE (Delegating)9.5. DIY (Do it Yourself)
10. Saudi Arabia Automotive Spare Parts Market Forecast, 2020-2033 (USD Million)
10.1. Saudi Arabia Automotive Spare Parts Market Size and Market Share
11. Saudi Arabia Automotive Spare Parts Market, By Region, 2020-2033 (USD Million)
11.1. Saudi Arabia Automotive Spare Parts Market Size and Market Share By Region (2020-2026)11.2. Saudi Arabia Automotive Spare Parts Market Size and Market Share By Region (2027-2033)11.3. Eastern Region11.4. Northern Region11.5. Eastern Region11.6. Western Region
12. Company Profile
12.1. 3M Company12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. Bridgestone Corporation12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. Continental AG12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. Denso Corporation12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. GS Yuasa International Ltd.12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. Hankook & Company Co., Ltd.12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. Michelin Group12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. Robert Bosch GmbH12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. The Goodyear Tire & Rubber Company12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. The Yokohama Rubber Co., Ltd.12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments12.11. Others
13. Conclusion
14. Reference Links
15. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Saudi Arabia Automotive Spare Parts Market CAGR of 7.74% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Saudi Arabia Automotive Spare Parts Market size is USD 10.35 billion from 2024 to 2034.
Saudi Arabia Automotive Spare Parts Market Segment is covered By Vehicle Type, By Component, By Service
The Middle East region is anticipated to have the highest market share in the Saudi Arabia Automotive Spare Parts Market.
The key players in the market include Companies Covered 3M Company, Bridgestone Corporation, Continental AG, Denso Corporation, GS Yuasa International Ltd, Hankook & Company Co., Ltd., Michelin Group, Robert Bosch GmbH, The Goodyear Tire & Rubber Company, The Yokohama Rubber Co., Ltd.
There are many domestic and foreign firms offering a variety of services, including as warehousing, transportation, and inventory management, in the fiercely competitive Saudi Arabia spare parts logistics sector.
Saudi Arabia Automotive Spare Parts Market is projected to reach USD 10.35 billion by 2033, growing at a CAGR of 7.74% during the forecast period.
Saudi Arabia Automotive Spare Parts Market grew in market size from 2023. The Market is expected to reach USD 10.35 billion by 2033, at a CAGR of 7.74% during the forecast period.
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