Saudi Arabia passenger
car accessories market is anticipated to register a robust CAGR during the
forecast period, 2024-2028. The rise in the expenditure capacity of consumers
is fueling the demand for comfort and luxury among consumers. High sales and
production of passenger cars and increased integration of electronic systems in
passenger cars for enhanced driving experience are the key driving factors.
Also, the rise in the number of market players offering innovative products and
development of passenger car accessories aftermarket is expected to bolster the
Saudi Arabia passenger car accessories market growth throughout the forecast
period.
Increased Sales of Passenger Car Drives
the Market Growth
The Saudi Arabia passenger car market
was valued at 13,028.60 million in 2021. The development of road infrastructure
and the growing disposable income of consumers is making them afford passenger
cars. The ban on women driving was lifted in 2017, which accelerated the number
of women drivers. The increasing number of people traveling through passenger
cars due to extreme weather conditions and changing preference for private
vehicle ownership is expected to boost Saudi Arabia passenger car accessories
market. Luxurious car brands offer high comfort, convenience, high-quality
equipment, and technologically advanced passenger car interior accessories. The
high demand for luxury vehicles owing to the increased per capita income of
consumers is expected to accelerate the sales of passenger car accessories
across the country.
Ongoing Technological Advancement Fuel
the Market Growth
Market players are using advanced
technologies to increase the convenience of passengers and drivers.
Advancements in technology such as Bluetooth connectivity which offers a
hand-free mode to the driver, are gaining momentum in the Saudi Arabia
passenger car accessories market. Market players are also offering customizable
control options in passenger cars to garner customer attraction. The majority
of the people are inclined towards installing advanced electronic systems such
as music systems video systems in the passenger car and prefer those electronic
accessories which can be connected with smartphones. The rise in investments by
the market players in research and development activities and the launch of high-performing
passenger cars are expected to bolster the Saudi Arabia passenger car
accessories market growth through the next five years.
Advent of Light-weight Materials
Supports the High Market Demand
With the growing demand to optimize fuel
efficiency, the demand for lightweight materials is increasing at a rapid rate.
Manufacturers are using lightweight materials such as high-strength steel and
thermoplastic for manufacturing passenger car accessories to reduce the overall
weight of passenger cars. Lightweight materials mobilize the driving
performance of passenger cars to reduce environmental pollution and fuel cost.
Passenger car accessory manufacturers are making investments to maximize the
use of lightweight materials, which is expected to create massive growth
opportunities for Saudi Arabia passenger car accessories market in the forecast
period.
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Market Segmentation
The Saudi Arabia passenger car
accessories market is segmented into location, vehicle
type, demand category, sales channel, regional distribution, and
company. Based on location, the market is divided into interior accessories and
exterior accessories. Based on vehicle type, the market is divided into hatchback,
sedan, and SUV/MPV. Based on demand category, the market is divided into OEM
and replacement. Based on sales channel, the market is divided into online and
offline. To analyze the market based on the region, the Saudi Arabia passenger
car accessories market is studied in major regions namely North & Central
region, Southern region, Western region, and Eastern region.
Market Players
Adient Plc, Continental AG, Denso
Corporation, Robert Bosch Gmbh, Harman International Industries Inc. , are among the major market players
operating in the Saudi Arabia passenger car accessories market.
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Attribute
|
Details
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Base Year
|
2022
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Historic Data
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2018 –
2021
|
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Estimated Year
|
2023
|
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Forecast Period
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2024
– 2028
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|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments covered
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·
Location
·
Vehicle Type
·
Demand Category
·
Sales Channel
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Regional scope
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Northern
& Central, Southern, Eastern, Western
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Key companies profiled
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Adient Plc, Continental AG, Denso Corporation, Robert Bosch
Gmbh, Harman International Industries Inc.
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|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to regional
& segment scope.
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Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
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Delivery Format
|
PDF and
Excel through Email (We can also provide the editable version of the report
in PPT/Word format on special request)
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Report Scope:
In this report, Saudi Arabia passenger
car accessories market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Saudi Arabia Passenger Car Accessories Market,
By Location:
- Interior Accessories
- Exterior Accessories
- Saudi Arabia Passenger Car Accessories Market, By Vehicle Type:
- Saudi Arabia Passenger Car Accessories Market, By Demand Category:
- Saudi Arabia Passenger Car Accessories Market, By Sales Channel:
- Saudi Arabia Passenger
Car Accessories Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia passenger car accessories
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).
Saudi Arabia passenger car
accessories market is an upcoming report to be released soon. If you wish an
early delivery of this report or want to confirm the date of release, please
contact us at [email protected]