KSA Automotive Industry Size- By Type, By Motor Type, By Electric Vehicle, By Vehicle Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

KSA Automotive Industry Overview

According to SPER Market Research, the KSA Automotive Industry is estimated to reach USD 14.91 billion by 2032 with a CAGR of 2.08%.

There is a huge possibility to shake up the Saudi Arabian Kingdom's established and conservatively run automobile industry. KSA Automotive is now controlled by local retail and distribution partners, which supports the expansion of foreign OEMs and other brands in the absence of homegrown producers of high-quality goods. The majority of the demand for automotive automobiles and replacement parts is met by imports from nations like the United States, Japan, China, Korea, India, and other gulf nations. In order to compete in the market for Tier 1 & 2 cities, the ecosystem is made up of large trade organisations, while the bulk of rural areas and Tier 3 cities continue to rely on the unorganised market for local demand. KSA regularly communicates with neighbouring gulf nations about imports and re-exports and is eager to build domestic manufacturing and exporting capabilities for South Africa and other African and gulf countries through the development of industrial hubs, effective bilateral relationships and allies, and technological competence and its improvement. The market has seen a significant change in favour of radical ERP & CRM systems, which are mostly used by the organised sector, according to technological trends & advances. Entities working in the KSA automotive sector are able to comprehend how to utilise and optimise efficient operating systems, and they continue to employ a variety of software and solutions, as well as tailored modules, to improve their operations and customer relationship management initiatives.

KSA Automotive Industry

Impact of COVID-19 on the KSA Automotive Industry:

The covid influence on the automobile sector in KSA has led to a drop in foot traffic at the various brand showrooms, which was a key sales channel before covid. Although there hasn't been a significant transition from physical to online sales, we do observe a change towards e-commerce in the KSA automobile sector with increased levels of online penetration across different categories. Along with employment losses & office closures, a variety of new car maintenance models are also seen with variable ownership durations. The market for shared mobility has also seen a fall as consumers turn to more sanitary practises, which has an effect on many market categories. Corrective actions done by numerous organisations and the government itself are encouraging businesses in many industrial categories to adopt new business strategies. Along with employment losses & office closures, a number of new car maintenance models are also seen with variable ownership durations. The market for shared mobility has also seen a fall as people turn to more sanitary practises, which has an influence on many market categories. Corrective actions done by many organisations and the government itself to maintain business are encouraging individuals in various industrial segments to adopt ground-breaking company strategies.

Scope of the Report:

• Report Metric: Details

• Market size available for years: 2019-2032

• Base year considered: 2021

• Forecast period: 2022-2032

• Segments covered: By Type, By Motor Type, By Electric Vehicle, By Vehicle Type

• Regions covered: Central Saudi Arabia, Eastern Saudi Arabia, Northern Saudi Arabia, Southern Saudi Arabia, Western Saudi Arabia.

• Companies Covered: Abdul Latif Jameel Motors, Al Jazirah Vehicles Agency, Al Yemni Motors, Alesayi Motor Company, Alissa Universal Motors Co., Aljomaih Automotive Company, Almajdouie Automotive, Bakhashab Brothers Co., Haji Husain Alireza & Co., Juffali Automotive Company, Kia Al Jabr, Manahil International, Mohamed Yousuf Naghi Motors, Nissan Petromin, Universal Motors Agencies, Wallan Trading Co.

KSA Automotive Industry Market Segmentation:

• By Type: Based on the Type, KSA Automotive Industry Market is segmented as; Bottom Dead Center, Top Dead Center.

• By Motor Type: Based on the Motor Type, KSA Automotive Industry Market is segmented as; AC Induction Motor, DC Brushless Motor, Permanent Magnet Synchronous Motor.

• By Electric Vehicle: Based on the Electric Vehicle, KSA Automotive Industry Market is segmented as; Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle.

• By Vehicle Type: Based on the Vehicle Type, KSA Automotive Industry Market is segmented as; Diesel Vehicle, Electric Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle, Mild Hybrid Vehicle, Natural Gas Vehicle, Petrol Vehicle, Plug-in Hybrid Electric Vehicle.

• By Region: New initiatives such legislation banning women from operating motor vehicles, hiring preferences for Saudi citizens, and other investment programmes linked to digitalization are all helping the business expand throughout the KSA. Therefore, it is anticipated that during the next years, the KSA automotive market would grow more effectively throughout the area.