Press Release

Saudi Arabia Passenger Car Accessories Market to be dominated by Interior Accessories through 2027

Development of efficient supply chain by market players and growing popularity of electric and hybrid cars are driving the demand of Saudi Arabia passenger car accessories market in the forecast period, 2023-2027.

According to TechSci Research report, Saudi Arabia Passenger Car Accessories Market By Location (Interior Accessories, Exterior Accessories), By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Demand Category (OEM, Replacement), By Sales Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2027, the Saudi Arabia passenger car accessories market is expected to witness robust CAGR in the forecast period, 2023-2027. High internet penetration and proliferation of smart devices is increasing connectivity and are boosting the demand for infotainment systems. Growth in demand for installation of infotainment systems in luxury cars and growing sales of luxury cars are expected to fuel the demand for Saudi Arabia passenger car accessories market growth.

Car accessories are the add-ons to passenger cars to increase the aesthetic appeal and functionality of passenger cars. Interior passenger car accessories offer a comfortable and entertaining riding experience to passengers. In contrast, the exterior car accessories serve different purposes such as navigation system, speaker, in-dash music player, seat cover, and car mats, among others. Most economic passenger cars have manual locking systems and do not have pre-fitted locking systems, which increases the risk of car theft. To reduce the chances of car theft, automotive manufacturers are installing advanced security systems, which is expected to accelerate the Saudi Arabia passenger car accessories market growth through the next five years.

However, the availability of low-quality accessories may restrain the Saudi Arabia passenger car accessories market growth for the forecast period.

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The Saudi Arabia passenger car accessories market is location, vehicle type, demand category, sales channel, regional distribution, and company.

Based on location, the market is divided into interior accessories and exterior accessories. Interior accessories are expected to witness huge demand by consumers in the forecast period, 2023-2027. Interior car accessories are additional devices in the automotive sector to serve the purpose of comfort, convenience, appeal, protection, and others. The interior components include dashboards, cockpits, seats, and door panels. Market players are actively installing interior car accessories to enhance the entertainment and driving experience, which is expected to act as a positive factor for Saudi Arabia passenger car accessories market growth in the next five years.

Based on vehicle type, the market is divided into the hatchback, sedan, and SUV/MPV. Sedan cars are in high demand in the Kingdom of Saudi Arabia as they are economical and are suitable for all kinds of buyers. They are easy to maintain, have high engine capacity, and are suitable for the off-road driving purpose. Sedan passenger cars are highly spacious and, therefore, are highly preferred by consumers for long-distance traveling.

Based on the demand category, the market is divided into OEM and replacement. The OEM segment is expected to capture the largest market share in the forecast period due to the growing adoption of advanced technologies in the manufacturing process and using high-quality materials for manufacturing passenger car accessories. Due to prevailing high customer trust, the demand from the OEM segment is expected to grow at a significant rate in the forecast period.

Based on the sales channel, the market is divided into online and offline. The online segment is anticipated to witness the fastest CAGR in the forecast period, 2023-2027. Youth populations are becoming tech-savvy and are using online sales channels to invest in the purchase of passenger car accessories. Market players offer passenger car accessories at discounted rates and provide quick delivery and exchange options to the customers. Passenger car accessory market players partner with technology firms to create alternate sales channels. The growing popularity of online sales channels is expected to accelerate the growth of Saudi Arabia passenger car accessories in the next five years.


Major market players operating in Saudi Arabia passenger car accessories market are:

·         Adient Plc                              

·         Continental AG                                  

·         Denso Corporation                             

·         Robert Bosch Gmbh

·         Harman International Industries Inc. 


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“Saudis prefer to spend on luxury and comfort features in automobiles, increasing the sales of luxury and premium passenger cars across the country. Changing consumer preference for private vehicle ownership among the youth population makes them invest lavishly in customization and accessorizing their passenger cars is creating lucrative growth opportunities for the passenger car accessories market. Also, the rise in efforts to develop accessories aftermarket and efficient supply chain by the market players is expected to propel the Saudi Arabia passenger car accessories market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Saudi Arabia Passenger Car Accessories Market By Location (Interior Accessories, Exterior Accessories), By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Demand Category (OEM, Replacement), By Sales Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia passenger car accessories market and provides statistics & information on market size, 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 Saudi Arabia passenger car accessories market.

 

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