Middle East Spare Parts Market size
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The Middle East spare parts market was valued at USD 55.1447 billion in 2023 and is projected to reach USD 74.678 billion by 2030, growing at a CAGR of 4.4% from 2024 to 2030.
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 found at, and have a warranty period which in turn is expected to foster market growth.
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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.
key players
Yokohama Rubber Company Limited,
Goodyear Tire & Rubber Company,
Exide Industries,
Schaeffler Technologies AG & Co. KG,
Hyundai Mobis,
Mitsui,
Continental AG.
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.
Market Insights Research performed both primary as well as exhaustive secondary research for this study. Initially, Market Insights Research sourced a list of manufacturers across the globe. Subsequently, Market Insights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market Insights Research could include the manufacturers which could not be identified due to the limitations of secondary research. Market Insights Research analyzed the manufacturers, distribution channels and presence of all major manufacturers across the globe.
Market Insights Research calculated the market size of Middle East spare parts market
Key Target Audience
- Spare part manufacturers, suppliers, distributors,and other stakeholders.
- Research organizations and consulting companies
- Trade associations, organizations, forums, andalliances related to spare parts.
- Government bodies such as regulating authoritiesand 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.
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Attribute |
Details |
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Base Year |
2022 |
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Historic Data |
2018 – 2021 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
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Report coverage |
Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
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Segments covered |
· Vehicle Type · Component |
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Country scope |
Saudi Arabia; United Arab Emirates; Kuwait; Oman; Qatar; Bahrain |
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Key companies profiled |
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 |
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Customization scope |
10% free report customization with purchase. Addition or alteration to country, & 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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