Saudi Arabia Automotive Aftermarket Research Report 2022-2027
Saudi Arabia Automotive Aftermarket valued at USD6,490.35 million in 2021 and is estimated to reach USD9446.95 million in 2027, advancing with a CAGR of 6.43%. In the recent years, automotive parts manufacturers have been working intensively to enhance design, materials, feel, look, capacity, functionality, and provide better user experience. The continuous product innovations aid automotive manufacturers to stay relevant in the market and significantly grow with the time. Saudi Arabia is considered as one of the fastest-growing economies in the world. A significant population of Saudi Arabia prefers to travel longer distances via road which increases the average distance travelled by a vehicle. The availability of unparalleled road infrastructure propels the increasing usage of cars by tourists as well as the residents of the Saudi Arabia. Deaths can be avoided if automotive components including brake pads, brake shoes, headlamps etc., are replaced at a regular interval which ensure safety. The elevating awareness of vehicle safety is driving the demand for automotive aftermarket components in Saudi Arabia.
The expanding usage of vehicles has further led to the rise in average kilometers driven per vehicle; as a result, vehicle components including tires, filters, etc., require replacement frequently. The increase in average kilometers driven per vehicle is escalating the demand for automotive components which is further benefitting the Automotive Aftermarket sector across Saudi Arabia. Moreover, due to the sandstorms, filter components including air filters and oil filters are changed frequently.
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Last Update : Jul 02, 2022 7:44 AM
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