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Saudi Arabia Spare Parts Market, Forecast and Opportunities, 2027

Saudi Arabia spare parts market generated a value of USD 4,732.85 million in the year 2021 and the market is expected to grow at a CAGR of 6.24% during the forecast.

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Saudi Arabia Spare Parts Market, Forecast and Opportunities, 2027

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  1. 2017 – 2027 SAUDI ARABIA SPARE PARTS MARKET FORECAST AND OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

  2. Table of Contents S. No. Contents 1. Product Overview 2. Research Methodology 3. Executive Summary 4. Impact of COVID-19 on Saudi Arabia Spare Parts Market 5. Voice of Customer 5.1. Factors Influencing Decision Making 5.2. Aided Brand Recall and Unaided Brand Recall 5.3. Brand Satisfaction Level 6. Saudi Arabia Spare Parts Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By Vehicle Type (Passenger Car, Commercial Vehicle) By Component (Tires, Spark Plugs, Air Filter, Brake Pad, Brake Shoe, Brake Caliper, Batteries, Others) 6.2.2. 6.2.3. By Service Channel (DIFM (Do it for Me), DIY (Do it Yourself), and OE (Delegating)) 6.2.4. By Region 6.2.5. By Company (2021) 6.2.6. Product Market Map (By Component, By Region) 2 2 © TechSci Research Automotive

  3. Table of Contents S. No. Contents 7. Saudi Arabia Passenger Car Spare Parts Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast 7.2.1. By Vehicle Type (Hatchback, Sedan, SUV/MPV) 7.2.2. By Component 7.2.3. By Service Channel 8. Saudi Arabia Commercial Vehicle Spare Parts Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 8.2.1. By Vehicle Type (Bus, Truck) 8.2.2. By Component 8.2.3. By Service Channel 9. Market Dynamics Drivers 9.1. Challenges 9.2. 10. Market Trends and Developments Policy and Regulatory Landscape 11. 3 3 © TechSci Research Automotive

  4. Table of Contents S. No. Contents Saudi Arabia Economic Profile 12. Competitive Landscape 13. 13.1. Robert Bosch GmbH 13.2. 3M Company 13.3. Bridgestone Corporation 13.4. Denso Corporation 13.5. The Goodyear Tire & Rubber Company 13.6. The Yokohama Rubber Co., Ltd. 13.7. Continental AG 13.8. Hankook & Company Co., Ltd. 13.9. GS Yuasa International Ltd. 13.10. Michelin Group 16. Strategic Recommendations 17. About Us & Disclaimer 4 4 © TechSci Research Automotive

  5. PRODUCT OVERVIEW

  6. Scope of Report Product of Interest (POI): Spare Parts Market The spare parts market, also known as the replacement market, represents auto components that are installed or replaced for the maintenance or enhancement of the original product after the vehicle has been sold by the original equipment manufacturer (OEM) to the consumer. VEHICLE TYPE REGION Market Segmentation Passenger Car ▪ Western Region ▪ Commercial Vehicle ▪ Northern & Central ▪ Year Range Region Eastern Region COMPONENT ▪ Review Period Southern Region ▪ Tires ▪ 2017 – 2020 Spark Plugs ▪ SERVICE CHANNEL Air Filter ▪ Base Year DIFM (Do it for Me) ▪ Brake Pad ▪ DIY (Do it Yourself) ▪ 2021 Brake Shoe ▪ OE (Delegating) ▪ Estimated Year Brake Caliper ▪ 2022 Batteries ▪ Others ▪ Forecast Period 2023 – 2027 6 6 © TechSci Research Automotive

  7. RESEARCH METHODOLOGY

  8. Research Methodology Market Profiling Data Analysis Data Data Developing List of Respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine top companies in the Saudi Arabia spare parts market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the Saudi Arabia spare parts market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and top companies for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of leading companies and industry specialists was developed. Primary Research Desk Research Company Analysis ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Conclusion ✓ ✓ Market Participants Key Strengths ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers EMIS ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 8 8 © TechSci Research Automotive

  9. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the Saudi Arabia spare parts market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as growing awareness of vehicle safety and harsh climate leading to increased replacement ratio. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the Saudi Arabia spare parts market. Methodology Followed for Calculation of Market Size: Market Size by Value & Volume: Market size, in terms of value & volume, for the year 2021 was calculated based on information • collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as spare parts companies, suppliers, channel partners, end users, industry experts, and other industry participants. The team interviewed more than 100 spare parts companies, suppliers, 180 end user, 15 industry experts and other value chain • stakeholders in the Saudi Arabia spare parts market to obtain the overall market size from 2017 to 2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2017-2021. Respondents were asked about the current and future market growth rates, market shares by vehicle type, by component, by • service channel, by region, and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. 9 9 © TechSci Research Automotive

  10. Research Methodology Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares by vehicle type, by component, by service channel, by region, and by company were calculated based on the • responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of spare parts market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey • results. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast • Saudi Arabia spare parts market, TechSci Research used various forecast techniques such as: Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis ✓ 10 10 © TechSci Research Automotive

  11. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium, and long-term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. Partial List of Companies Interviewed Key Secondary Sources Robert Bosch GmbH World Bank ▪ ▪ 3M Company TechSci Research Proprietary Database & Knowledge ▪ ▪ Bridgestone Corporation Repository ▪ Denso Corporation Company Annual Reports ▪ ▪ The Goodyear Tire & Rubber Company General Authority of Statistics ▪ ▪ Michelin Group Automotive Aftermarket Suppliers Association ▪ ▪ Hankook & Company Co., Ltd. Industry Magazines ▪ ▪ The Yokohama Rubber Co., Ltd Industry Reports ▪ ▪ GS Yuasa International Ltd. Statista ▪ ▪ Continental AG News Dailies ▪ ▪ Credible Paid Databases ▪ 11 11 © TechSci Research Automotive

  12. Industry Brief The increasing vehicle customization and growing fleet size of the passenger car and commercial vehicles is expected to increase demand for spare parts in the Saudi Arabia market during the forecast period, 2023F-2027F. According to TechSci Research report, “Saudi Arabia Spare Parts Market - By Region, Competition, Forecast & Opportunities, 2017-2027”, Saudi Arabia spare parts market stood at USD4732.85 million in 2021 and is expected to register a CAGR of 6.24% to reach USD6792.59 million by 2027. Major driving factor for the growth of Saudi Arabia spare parts market is the harsh climatic condition of the country which decreases the life due to wear and tear of automotive spare parts such as air filter, oil filter, battery, alternator, braking, transmission system etc. Moreover, the increasing vehicle fleet size is another major contributing factor for the growing demand for spare parts components in Saudi Arabia. The climatic conditions of Saudi Arabia are harsh during the summer season, with the average temperature in the country reaching up to 100 °F (38 °C). Moreover, the country is characterized by a sand cover spread across 34% of the total area. The country's sandy areas lack vegetation cover, resulting in the soil loosening and increasing sandstorm activities, which also contributes to the increased temperature during summer. Hence, the air conditioners of vehicles are mostly turned on throughout the drive. The continuous usage of air conditioners decreases the life of air conditioners and their components, increasing the frequency of the auto parts replacement. Moreover, owing to sandstorms, filter components such as air filters and oil filters are changed frequently. The harsh climatic conditions have led to an increase in the frequency of replacement of spare parts components, thereby driving the Saudi Arabia spare parts market. According to the data published by the World Health Organization (WHO), a total of 12,317 people died in road accidents in Saudi Arabia in 2020, which was 9.19% of total deaths. The statistics show that the country's adjusted death rate is 36.13 per 100,000. Such high death rates are characterized by vehicles with ill working spare parts. A significant number of deaths can be avoided if automotive components such as brake pads, brake shoes, headlamps etc., are replaced regularly. Moreover, to ensure safety in such events, fleet owners have started installing wear sensor in brake pads in their vehicles. The growing awareness regarding vehicle safety is driving the Saudi Arabia spare parts market. Saudi Arabia spare parts market is segmented into vehicle type, component type, service channel, and region. On the basis of vehicle type, the market is segmented into passenger car and commercial vehicle. The passenger car segment accounted for 57.07% market share in terms of units sold in 2021 and is projected to remain the largest segment through 2027. Factors such as growing rental car fleets, Saudi’s vision to bring OEMs in the country to manufacture approximately 300 thousand plus vehicles between 2020 and 2030, including passenger cars, is expected to escalate the demand for passenger car spare parts components in the aftermarket over the forecast years. On the basis of component type, the market is segmented into tires, batteries, air filter, brake shoe, spark plugs, brake pad, brake caliper, and others. The tire segment holds the largest market share of 72.18% in Saudi Arabia spare parts market in terms of volume in 2021 and is projected to register a CAGR of 4.47% during the forecast period to reach 70.57% market share by 2027. Over the last decade, Saudi Arabia invested heavily in transport and related infrastructure. The investment attracted the tourists and acted as a gateway for enterprises interested in expanding their network in Saudi Arabia and the rest of Middle East. Major market players operating in the Saudi Arabia spare parts market are Robert Bosch GmbH, 3M Company, Bridgestone Corporation, Denso Corporation, The Goodyear Tire & Rubber Company, The Yokohama Rubber Co., Ltd., Continental AG, Hankook & Company Co., Ltd., GS Yuasa International Ltd., Michelin Group “Saudi Arabia spare parts market is predominantly an import driven market as the country lacks automobile production facilities. In order to fulfill the demand for spare parts components market in Saudi Arabia, automotive part manufacturers appoint local distributors in the country, acting as a suitable intermediary between the automotive spare parts component manufacturing company and the end-user”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm. 12 12 © TechSci Research Automotive

  13. Sample Data - Snapshot Saudi Arabia Spare Parts Market Size, By Value (USD Million) and Volume (Thousand Units), 2017-2027F CAGR 2022E-2027F By Value: xx% By Volume: xx% CAGR 2017-2021 By Value: xx% By Volume: xx% 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F Volume (Thousand Units) Value (USD Million) Saudi Arabia Commercial Vehicle Spare Parts Market Share, By Vehicle Type, By Volume, 2017-2027F 2017 40.00% 60.00% 2018 40.00% 60.00% Saudi Arabia Spare Parts Market Share, By Component, By Volume, 2017-2027F 2019 40.00% 60.00% 2020 40.00% 60.00% 2021 40.00% 60.00% 2022E 40.00% 60.00% 2023F 40.00% 60.00% 2024F 40.00% 60.00% 2025F 40.00% 60.00% 2026F 40.00% 60.00% 2027F 40.00% 60.00% Truck Bus 2017 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2018 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2019 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2020 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2021 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2022E 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2023F 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2024F 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2025F 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2026F 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% 2027F 5.00% 10.00% 15.00% 20.00% 5.00% 10.00% 15.00% 20.00% Tires Batteries Air Filter Brake Shoe Spark Plugs Brake Pad Brake Caliper Others 13 13 © TechSci Research Automotive

  14. Report Order Report Name: SAUDI ARABIA SPARE PARTS MARKET FORECAST AND OPPORTUNITIES 2017 – 2027 License Type Single User License Price $3500 Multi-User License Custom Research License $4500 $7500 To View Sample OR Purchase Report 14 14 © TechSci Research Automotive

  15. About Us & Disclaimer TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports Global Automotive Repair and Maintenance Services Market By Vehicle Type (Passenger Cars Light Commercial Vehicle and Heavy Commercial Vehicle), By Services and Parts (Oils, Tires, Batteries, Oil Filter, Wiper Blades, Lights, Air Filter, Spark Plugs and Others), By Company and By Geography, Forecast & Opportunities, 2026 Global Cleaner & Degreaser After Market By Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicle), By Repair Service (Original Equipment Supplier (OES) and Independent After-market (IAM), By Supply Mode (Aerosol Can, Drum, Spray Bottle, Jug and Pail), By Type (Water-Based and Solvent-Based), By Company and By Geography, Forecast & Opportunities, 2026 • • TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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