KSA Aftermarket Spare Parts Market
Data Bridge Market Research analyses that KSA aftermarket spare parts market is expected to reach a value of USD 6.61 thousand by 2029 from 4.79 thousand in 2023, growing at a CAGR of 5.7% during the forecast period 2024 to 2029.
Market Segmentation: KSA Aftermarket Spare Parts Market, By Type (Replacement Parts and Accessories), Distribution Channel (Wholesalers & Distributors and Retails), Certification Outlook (Genuine Parts, Certified Parts, and Uncertified Parts), Service Channel (DIFM (Do It for Me), DIY (Do It Yourself), and OE (Delegating to OEM’S)), Vehicle Age (4 to 8 Years, 0 to 4 Years, and Above 8 Years), Vehicle Type (Passenger Cars, Commercial Vehicle, Utility Task Vehicle (UTV), Recreational Vehicle), Sales Channel (Offline and Online), Propulsion Type (Diesel/Petrol, CNG, and Electric), Country (KSA)- Industry Trends and Forecast To 2029
Overview of KSA aftermarket spare parts market Dynamics:
Drivers
• Increasing demand for automobile
• Surging preference for online purchases of auto spare parts
• Extreme weather conditions in Saudi Arabia
• Growing government initiatives for localised manufacturing of auto spare parts
Restraints
• Regulatory compliances related to auto spare parts
• High raw material price fluctuations
Opportunities
• Collaboration and partnerships among market players
• Innovative distribution models
• Technological advancements related to auto spare parts
Challenges
• High product variability
• Prevalence of counterfeit spare parts
Market Players:
The key market players operating in the KSA aftermarket spare parts market are listed below: • MICHELIN
• The Goodyear Tire & Rubber Company
• Continental AG
• Aptiv
• ZF Friedrichshafen AG
• Robert Bosch GmbH
• Knorr-Bremse AG
• Yokohama Tire Corporation
• Tenneco Inc.
• DENSO CORPORATION
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