The Middle East auto components market is anticipated to grow in the years to come due to the number of vehicle fleet and an increasing number of OEMs. Owing to the increased per capita income and purchasing power of the individuals in the Middle Eastern countries, the demand for passenger cars would surge during 2020-25. Moreover, the growing number of construction activities and increasing e-commerce in the region would surge the sales of heavy trucks, buses and, commercial vehicles. The rising vehicle fleet size and vehicle modification in the region account for the proliferation in the demand for the Middle East auto components.
According to MarkNtel Advisors’ research report “Middle East Auto Components Market Analysis, 2020”, the CAGR of the Middle East auto component market is estimated to reach around 7% during 2020-25. The total passenger car sales in the Middle East region is projected to reach approximately 3.4 million units by 2020. Furthermore, the growing demand for commercial vehicles is expected in the years to come due to the stabilizing economic conditions in the region. The passenger car segment dominated the Middle East auto component market due to the presence of a growing number of automobiles assembly plants. Removal of ban from female driving in Saudi Arabia is anticipated to positively impact the sales of vehicles. Thus, the increased number of vehicles on the road would strengthen the auto components market as the replacement demand would surge in the coming years.
Iran is a prominent market for auto parts due to the presence of a large number of OEMs and aftermarket services. Iran imports a considerable amount of auto parts from China. In 2019, more than 50% of the brakes and tires were imported from China. While, the other economies in the region were dependent on European, American and Japanese suppliers for imports in the same year, revealed by MarkNtel Advisors’ in its research report “Middle East Auto Components Market Industry Analysis, 2020”.
UAE, Israel and Saudi Arabia- the leading stakeholders in the Middle East Auto Component Market According to MarkNtel Advisors, UAE has become regional hub for trade of car parts and vehicle parts not only for Middle East but also for Africa. UAE is the re-exporter of the trade within the GCC and Middle East region. Israel exports USD 1 billion auto parts which are utilized by manufacturers such as PSA, GM, MAN, BMW, Jaguar. In addition, Saudi Arabia is the largest market for auto and auto parts in the Middle East accounting for approximately capturing 40% of all vehicles sold in the region.
According to MarkNtel Advisors’ research report “Middle East Auto Components Market Industry Analysis, 2019”, some major top players in Middle East auto component market are Shell Markets Middle East, AC Delco Middle East and Africa, Amaron Batteries and Bridgestone Middle East and Africa FZE among others contribute to the demand for the second-hand auto parts such as batteries, tires and lubricants.
In 2019, Middle East auto component market was import driven. Major leading players in the market were Johnson Control International Plc, Goodyear Middle East FZE, Robert Bosch Middle East, ExxonMobil Middle East Marketing Corp., Shell Markets Middle East, AC Delco Middle East and Africa, Amaron Batteries, Michelin AIM FZE, The Yokohama Rubber Co. Ltd., Bridgestone Middle East and Africa FZE among others.
“Middle East Auto Components Market Industry Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for automotive ventilation seats providers across the region. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
1. By Vehicle Type (Passenger cars, Two Wheelers, Commercial vehicles and OTR)
2. By Component Type (Filters, Brakes, Lubricants, Tires and Battery)
3. By Distribution (OEMs and Aftermarket)
4. By Countries (UAE, Saudi Arabia, Qatar, Iran, Oman, Israel and Kuwait)
5. By Competitors (Johnson Control International Plc, Goodyear Middle East FZE, Robert Bosch Middle East, ExxonMobil Middle East Marketing Corp., Shell Markets Middle East, AC Delco Middle East and Africa, Amaron Batteries, Michelin AIM FZE, The Yokohama Rubber Co. Ltd., Bridgestone Middle East and Africa FZE)
Key questions answered in the study:
1. What are the current and future trends of the Middle East auto components market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the region?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Middle East auto components market?
6. What are the customer orientation, purchase behavior, and expectations from the Middle East auto component suppliers across various regions?