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Market Segmentation
Aftermarket Dominated the Market
Based on Sales Channel, Aftermarket dominated the Saudi Arabia Brake Pad market in 2019 as Saudi Arabia is an import-driven automotive market where around 40% of the vehicle are imported from Japan, South Korea and the US. Apart from this, the easy availability of low-cost brake pads with the equivalent safety and quality features that of OEM brake pads, thus inclining the customer preference toward the purchase of brake pad from the aftermarket industry. Moreover, substantial growth in the fleet size of passenger and commercial vehicle in the country is further projected to accentuate the growth of the aftermarket segment in the Saudi Arabia Brake Pad market in the coming years as revealed by MarkNtel Advisors’ research report “Saudi Arabia Brake Pad Market Analysis, 2021”.
Market Opportunities
According to MarkNtel Advisors’ research report “Saudi Arabia Brake Pad Market Analysis, 2021”, the market is anticipated to grow at a CAGR of 7% during 2021-26F. Saudi Arabia has one of the largest automotive and auto parts sales market in the Middle East region. The burgeoning import of passenger cars, commercial vehicles and light trucks along with surging customer inclination toward luxury car and growing demand for technology advance brake pad for safety, control, better performance are the driving factors expected to boost the market of brake pad in the forecast period. Besides this, safety standard and technical regulations for automobiles introduced by the government for mandatory anti-lock braking system in the automobile is anticipated to place a lucrative opportunity for the growth of the market in the forecast period
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Saudi Arabia Brake Pad market include FBK Manufacturing Malaysia Sdn Bhd, Alfred Teves Brake Systems (Pty) Ltd (Continental AG), Robert Bosch (Pty) Ltd, AC Delco, MAT Holdings, Inc. (Bendix), Tenneco Inc (Ferodo), Sangsin Brake Co., Ltd. (HI-Q), TRW Ltd Aftermarket (Road House), KBX Brakes, Asimco Global Inc. etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Saudi Arabia Brake Pad Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million and Unit Solds.
Q. What would be the growth rate or CAGR of Saudi Arabia Brake Pad Market during 2021-26?
A. The Saudi Arabia Brake Pad Market is anticipated to grow at a considerable rate during 2021-26.
Q. Who are the key competitors or players operating in Saudi Arabia Brake Pad Market?
A. FBK Manufacturing Malaysia Sdn Bhd, Alfred Teves Brake Systems (Pty) Ltd (Continental AG), Robert Bosch (Pty) Ltd, AC Delco, MAT Holdings, Inc. (Bendix), Tenneco Inc (Ferodo), Sangsin Brake Co., Ltd. (HI-Q), TRW Ltd Aftermarket (Road House), KBX Brakes, Asimco Global Inc. etc., are few of the leading players in the Saudi Arabia Brake Pad Market.
Q. Which vehicle type would emerge as an opportunity area for players in Saudi Arabia Brake Pad Market?
A. Light commercial vehicle segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which sales channel would emerge as an opportunity area for players in Saudi Arabia Brake Pad Market?
A. Aftermarket continue to grow at the highest CAGR, presenting immense opportunities for market players of Saudi Arabia Brake Pad Market.