Growing demand for improving the life of automobile through maintenance and repair to drive Saudi Arabia vehicle reparation market until 2027
According to TechSci Research report, “Saudi Arabia Vehicle Reparation Market – By Region, Competition, Forecast & Opportunities, 2027”, Saudi Arabia vehicle reparation market stood at USD982 million in 2021 and is projected to grow at a CAGR of 3.52% in the next five years. Growth in average miles drive per vehicle and increasing sales of used vehicles are driving the growth of the vehicle reparation market.
The geographical topography of Saudi Arabia enables people to enjoy off-road activities in the country. For off-roading purposes, most people prefer SUVs, which drives the growth of SUV sales in the country. For a better off-roading experience, people are upgrading their vehicles for the desert terrain as well as diverse terrains. Upgradation of the tires by using wide tires and by increasing the power of the engine, the vehicle performance increases tremendously. This upgradation is done by the vehicle repair and maintenance companies and service centers, which leads to the growth of Saudi Arabia vehicle reparation market.
The increase in used car sales in the country contributes to the rising demand for maintenance and repair services. Increasing demand from shared mobility fleet owners, increasing employment opportunities, lower price of used cars, presence of attractive finance schemes and availability of cheap fuel in the country are major factors driving the demand for used cars in the country. Moreover, increasing market penetration offers digital platforms to the customers for buying and selling used cars as well as provide servicing and warranty facilities along with easy, instant and paperless loan experience to their customers. Moreover, every time a used car is sold, complete servicing of the car is required to keep the vehicle functioning intact. All such factors contribute to the growth of the vehicle reparation market in Saudi Arabia.
Browse 28 market Figures spread through 88 Pages and an in-depth TOC on " Saudi Arabia Vehicle Reparation Market”.
Saudi Arabia vehicle reparation market is segmented on the basis of service area, vehicle type, service provider, channel, and regional distribution. The Saudi Arabia vehicle reparation market based on service area is divided into automotive mechanical and electrical parts, paint, glass, automotive body parts, tire, interior parts and others. Automotive mechanical and electrical parts held the lion's market share of 51.37% in the service area in 2021. Auto parts such as battery, alternator, starter, braking components, engine, transmission system, etc., lie in the automotive mechanical and electrical part segment. These parts have maximum utilization when a vehicle runs. Therefore, automotive mechanical and electrical parts must be in good condition for good performance and smooth driving experience, etc. The high market share of automotive mechanical and electrical parts can be attributed to the higher utilization of these auto parts, which is anticipated to continue in the forthcoming years as well.
Leading players operating in Saudi Arabia Vehicle Reparation market include:
- Abdul Latif Jameel IPR Company Limited
- SMC Auto Service Broker LLC
- E.A. Juffali & Brothers (Juffali Automotive Company)
- Al Jazirah Vehicles Agencies Co. Ltd.
- Petromin Corporation
- Al Jomaih Group (ACDelco Service Centers)
- Haji Husein Alireza & Co. Ltd.
- Mohamed Yousuf Naghi & Brothers Group
- Aljabr Group
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“Al-Riyadh holds the major share in Saudi Arabia vehicle reparation market with 48.15% market share in terms of value, in 2021. The region also accounts for the largest fleet share which proportionally increase the demand for vehicle upgradation and reparation. High population (around 7.4 million), rising per capita income and increasing demand in vehicle modification in the region are the major factors driving the growth of vehicle reparation market in Al-Riyadh.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Vehicle Reparation Market By Service Area (Automotive Mechanical and Electrical Parts, Automotive Body Parts, Tire, Paint, Interior Parts, Glass, Others), By Vehicle Type (Two-Wheeler, Passenger Car, LCV, and M&HCV), By Service Provider (Automobile Manufacturers, Franchise General Repairs, Locally Owned Repair Shops), By Channel (Online, Offline), By Region, Competition, Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia vehicle reparation market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Saudi Arabia vehicle reparation market.