Growth Opportunities in the GCC Automotive Aftermarket
This research examines the quantitative and qualitative aspects of the light vehicle aftermarket industry in the Gulf Cooperation Council (GCC) by assessing industry performance and identifying the many trends that have an impact on the demand for aftermarket parts, repair, and maintenance. The research delves into a comprehensive examination of the light vehicle aftermarket across all six Arab countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
The GCC has seen the growth of independent aftermarket players that offer cost-effective alternatives to authorized service centers. In addition, the penetration of mobile on-demand services in the UAE and Saudi Arabia will increase as companies offer all the services related to tires, batteries, brakes, and AC on demand.
The growth of the eCommerce sector has had a significant impact on online parts and components distribution in the GCC. Digital platforms connect auto parts and components suppliers with car owners, fleet operators, and garages and are busy catering to the high aftermarket demand in GCC. However, the lack of a robust local manufacturing base is a major industry challenge; the GCC region relies heavily on imported vehicle components and parts, which hikes up the cost.
The study includes in-depth analysis of various trends, VIO, and aftermarket revenue in each GCC country. It also analyzes the factors driving and restraining growth and identifies the opportunities emerging from this space. The base year is 2022, and the forecast period is from 2023 to 2028.
- Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top 3 Strategic Imperatives on the Automotive Aftermarket Industry
- Growth Opportunities Fuel the Growth Pipeline Engine™
- Growth Environment
- Scope of Analysis
- Segmentation
- Key Competitors
- Forecasting Methodology
- Key Questions This Study Will Answer
- Regional Segmentation
- Product Segmentation
- After-sales Service Channels*
- Aftermarket Snapshot
- Growth Metrics
- Distribution Channel Structure
- Growth Drivers
- Growth Restraints
- Forecast Assumptions
- Revenue and ViO Forecast 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Revenue 8.75 9.44 8.28 9.53 9.68 10.22 10.71 11.18 11.53 12.04 12.23 VIO 13.9 14.5 14.8 15.5 15.7 15.9 16.2 16.5 16.7 17.0 17.3 Vehicle in Operation (Million Units) Revenue ($ Billion)
- VIO Forecast by Country 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 CAGR (2022- 2028) Bahrain 0.7 0.7 0.7 0.8 0.8 0.8 0.8 0.9 0.9 0.9 1.0 3.9% Kuwait 1.3 1.3 1.2 1.3 1.3 1.3 1.3 1.4 1.4 1.5 1.6 3.5% Qatar 0.9 0.9 0.9 0.9 0.9 1.0 1.0 1.0 1.1 1.1 1.1 2.5% Oman 1.1 1.2 1.2 1.2 1.3 1.3 1.3 1.3 1.4 1.5 1.5 3.0% UAE 3.2 3.3 3.3 3.4 3.5 3.5 3.5 3.6 3.6 3.7 3.8 1.4% Saudi Arabia 6.7 7.0 7.4 7.9 8.0 8.1 8.2 8.3 8.4 8.4 8.5 0.9% Units (Million) Year
- Revenue Forecast by Country 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 CAGR (2022- 2028) Bahrain 0.43 0.46 0.39 0.44 0.46 0.49 0.53 0.56 0.58 0.61 0.63 5.7% Kuwait 1.07 1.12 0.99 1.05 1.06 1.14 1.21 1.29 1.37 1.45 1.49 5.9% Qatar 0.65 0.70 0.60 0.66 0.67 0.73 0.78 0.82 0.85 0.87 0.89 4.8% Oman 0.66 0.74 0.60 0.70 0.72 0.75 0.79 0.84 0.88 0.95 0.98 5.4% UAE 2.09 2.22 1.98 2.23 2.23 2.32 2.42 2.53 2.63 2.76 2.79 3.8% Saudi Arabia 3.85 4.21 3.73 4.46 4.54 4.79 4.98 5.14 5.22 5.39 5.44 3.0% Year
- Revenue by Parts Type 1.53 0.61 2.51 0.92 0.29 0.13 0.06 0.15 0.57 0.61 1.20 1.09 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Tires Batteries Lubricants Brake Parts Filters Spark Plugs Wiper Blades Starters & Alternators Others - Mechanical & Repair Others Collision Accessories Labour Parts Type
- Revenue Forecast Analysis
- Pricing Trends and Forecast Analysis
- Competitive Environment
- Regulations Impacting GCC Automotive Aftermarket
- Growth Opportunity Analysis by Country: Saudi Arabia
- Growth Metrics
- Saudi Arabia Aftermarket
- VIO Forecast
- Revenue Forecast
- Revenue by Parts Type 0.76 0.30 1.24 0.45 0.14 0.06 0.03 0.07 0.28 0.30 0.36 0.55 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 Parts Type
- Growth Opportunities in Saudi Arabia
- Growth Opportunity Analysis by Country: UAE
- Growth Metrics
- UAE Aftermarket
- VIO Forecast
- Revenue Forecast
- Revenue by Parts Type 0.34 0.14 0.56 0.21 0.07 0.03 0.01 0.03 0.13 0.14 0.34 0.24 0.00 0.10 0.20 0.30 0.40 0.50 0.60 Parts Type
- Growth Opportunities in UAE
- Growth Opportunity Analysis by Country: Oman
- Growth Metrics
- Oman Aftermarket
- VIO Forecast
- Revenue Forecast
- Growth Opportunities in Oman
- Growth Opportunity Analysis by Country: Qatar
- Growth Metrics
- Qatar Aftermarket
- VIO Forecast
- Revenue Forecast
- Growth Opportunities in Qatar
- Growth Opportunity Analysis by Country: Kuwait
- Growth Metrics
- Kuwait Aftermarket
- VIO Forecast
- Revenue Forecast
- Growth Opportunities in Kuwait
- Growth Opportunity Analysis by Country: Bahrain
- Growth Metrics
- Bahrain Aftermarket
- VIO Forecast
- Revenue Forecast
- Growth Opportunities in Bahrain
- Digitalization Trends in GCC Aftermarket
- Digitization Trends in GCC Automotive Aftermarket
- Major Automotive Apps/Websites in GCC
- Online Parts Retailers
- Service Aggregators
- Mobile Service Providers
- Growth Opportunity Universe
- Growth Opportunity 1: EV Penetration
- Growth Opportunity 2: Online Platforms
- Growth Opportunity 3: Mobile Service Stores
- Next Steps
- Your Next Steps
- Why Frost, Why Now?
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