Middle East Spare Parts Market By Vehicle Type (Passenger Car and Commercial Vehicle) By Component (Tires, Batteries, Brake Components, Others), By Country, Competition, Company Forecast & Opportunities, 2028

The Middle East spare parts market is expected to grow at a steady rate during the forecast period. An increase in the automobile fleet coupled with various ongoing construction and infrastructural development activities to boost the economic structure is the major driver for the forecast period. A surge in demand for vehicle modifications and enhanced automobile performance is fueling the demand for spare parts in the Middle East. Removal of a ban on female driving is expected to increase the sales of automobile spare parts. Rising inflation and interest rates are expected to slow down the automobile market growth, which in turn is expected to propel the Middle East spare parts market growth. Automobile owners are actively accepting automotive spare parts to enhance the vehicle performance in terms of exhaust sound, speed, appearance, among others, as spare parts are cost-effective in nature in comparison to buying a new vehicle. Growing demand for automobiles, along with the adoption of the latest technologies such as 3D printing of automotive parts, is expected to optimize the production cost of automotive parts, thereby accelerating the demand for spare parts in automobiles. Consumers prefer original parts and are manufactured by original equipment manufacturers, and original spare parts have greater quality, performance, are easily available, and have a warranty period which in turn is expected to foster market growth.

The Middle East spare parts market can be segregated into type into vehicle type, component, regional distribution, and company. Based on vehicle type, the market can be bifurcated into passenger cars and commercial vehicles. The passenger vehicle type segment is expected to account for major market share for the forecast period, 2024-2028. Increasing preference for vehicle ownership and rising disposable income among consumers are contributing to strengthening the market growth.

The major players operating in the Middle East spare parts market include Robert Bosch GmbH, Bridgestone Corp., Yokohama Rubber Company Limited, Goodyear Tire & Rubber Company, AC Delco, Exide Industries, Schaeffler Technologies AG & Co. KG, Hyundai Mobis, Mitsui, Continental AG. Major companies are developing advanced technologies to stay competitive in the market. Other competitive strategies include mergers & acquisitions.

Objective of the Study:

• To analyze and forecast the market size of Middle East spare parts market.
• To classify and forecast Middle East spare parts market based on vehicle type, component, regional distribution, and company.
• To identify drivers and challenges for Middle East spare parts market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Middle East spare parts market.
• To identify and analyze the profile of leading players operating in the Middle East spare parts market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major manufacturers across the globe.

TechSci Research calculated the market size of Middle East spare parts market by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Spare part manufacturers, suppliers, distributors, and other stakeholders.
• Research organizations and consulting companies
• Trade associations, organizations, forums, and alliances related to spare parts.
• Government bodies such as regulating authorities and policy makers
• Industry associations

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Middle East spare parts market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·          Middle East Spare Parts Market, By Vehicle Type:

o    Passenger Car

o    Commercial Vehicle

·         Middle East Spare Parts Market, By Component:

o    Tires

o    Batteries

o    Brake Components

o    Others

·         Middle East Spare Parts Market, By Country:

o    Saudi Arabia

o    United Arab Emirates

o    Kuwait

o    Oman

o    Qatar

• Bahrain

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Middle East spare parts market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what, you are looking for, please get in touch with our custom research team at [email protected]