Market Research Report
Saudi Arabia Vehicle Reparation Market, By Service Area, By Vehicle Type, By Service Provider, By Channel, By Region, Competition, Forecast & Opportunities, 2027
|Saudi Arabia Vehicle Reparation Market, By Service Area, By Vehicle Type, By Service Provider, By Channel, By Region, Competition, Forecast & Opportunities, 2027|
Published: January 1, 2022
Content info: 88 Pages
Delivery time: 2-3 business days
Saudi Arabia vehicle reparation market was valued at USD982.29 million in 2021 and is anticipated to grow with a CAGR of 3.52% in the forecast period, 2023-2027, to achieve a market value of USD1204.54 million by 2027F. The market growth can be attributed to the growing demand for automobiles in the country among consumers. Higher purchase value of automotive further substantiates the demand for vehicle reparation since repair costs are much lower as compared to buying newer automobiles. The booming automobile fleet and social factors like the removed ban from women drivers further drive the growth of the Saudi Arabia vehicle reparation market in the upcoming five years. End user automobiles like FMCG industry, e-commerce industry, etc., along with the disposable income among the industry, further supports the growth of the Saudi Arabia vehicle reparation market in the next five years. Moreover, an increasing number of companies that are involved with aftermarket practices like maintenance and servicing of the automotive to enhance functioning and lifeline of the vehicles through various processes like replacing parts such as tires, batteries, wear & tear parts, air filter, cabin filter, oil filter, wiper blades, collision body, starters & alternators, and others are also positively influencing the growth of the Saudi Arabia vehicle reparation market in the future five years. Technological advancement in the vehicles, higher life of vehicles due to those advancements may hinder the growth of the vehicle reparation market in Saudi Arabia. However, the cheaper cost of maintenance, lower cost of labor, rise in the average miles driven per vehicle, and surge in road safety awareness in people may overcome the setbacks and further substantiate the growth of the Saudi Arabia vehicle reparation market in the forecast years, until 2027.
The Saudi Arabia vehicle reparation market is segmented by service area, vehicle type, service provider, channel, regional distribution, and competitive landscape. Based on vehicle type, the market is fragmented into two-wheeler, passenger car, LCV, and M&HCV. The passenger cars sub-segment is anticipated to hold the largest revenue shares and dominate the market segment in the upcoming five years on account of its increasing ownership among the population of the Kingdom of Saudi Arabia. Moreover, the rise in the demand for electric vehicles and utilization of technologically advanced systems in the vehicles are further anticipated to drive the growth of the Saudi Arabia vehicle reparation market in the future five years.
Abdul Latif Jameel IPR Company Limited, SMC Auto Service Broker LLC, Ezhalha, E.A. Juffali & Brothers (Juffali Automotive Company), Al Jazirah Vehicles Agencies Co. Ltd., Petromin Corporation, Al Jomaih Group (ACDelco Service Centers), Haji Husein Alireza & Co. Ltd., Mohamed Yousuf Naghi & Brothers Group, Aljabr Group, are among the major market players in the Saudi Arabia platform that lead the market growth of the Saudi Arabia vehicle reparation market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of Saudi Arabia vehicle reparation market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, stakeholders, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia vehicle reparation market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Automotive Mechanical and Electrical Parts
Automotive Body Parts
Franchise General Repairs
Locally Owned Repair Shops
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia vehicle reparation market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: