Saudi Arabia Spare Parts Market Research Report 2023-2027

Posted by arshiyashaikh on October 4th, 2022

Saudi Arabia Spare Parts Market is expected to grow at a robust rate in the forecast period, 2023-2027. Factors such as the rise in the average age of vehicles and the use of novel and advanced technologies in automotive spare parts manufacturing drive the demand for Saudi Arabia spare parts market. The growing popularity of the e-commerce channels and increased focus on ensuring vehicle and passenger safety while riding automobiles are expected to influence the market demand.
Due to their high per capita income and improved living conditions in the cities, Saudi Arabians are able to invest in the purchase of private vehicles. One of the main reasons Saudi Arabia prioritizes the development of the automotive sector is that the majority of the global automotive market is import-driven.

The Saudi Arabia spare parts market is segmented into vehicle type, component, service channel, regional distribution, and competitive landscape. Based on vehicle type, the market is divided into passenger cars and commercial vehicles. Passenger cars are expected to hold the largest market share during the forecast period, 2023-2027. The market is driven by customers' shifting preferences for owning private cars for daily commute purposes. Consumer demand for passenger cars is rising due to rising spending power and living standards. Depending on the route and road conditions, cars have an average lifespan of over 12 years, which increases the need for routine maintenance on passenger vehicles.

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