DUBLIN, March 29, 2023 /PRNewswire/ — The “UAE Automotive Aftermarket, By Vehicle Type (Passenger Cars, Commercial Vehicles), By Component (Tires, Spark Plugs, Air Filter, Fuel Filter, Brake Pad, Brake Shoe, Brake Calliper, Batteries, Others), By Service Channel, By Region, Competition Forecast & Opportunities, 2028” report has been added to ResearchAndMarkets.com’s offering.
UAE automotive aftermarket is anticipated to grow at a steady CAGR in the forecast period, 2024-2028
Increased vehicle production and sales and the growing used car market, coupled with the increasing number of road accidents and stringent road safety regulations, are playing a significant role in the growth of the UAE automotive aftermarket.
Also, the rapid adoption of online platforms by the market players and the use of advanced software and technologies by the service providers to handle complex technical problems and provide excellent services to customers are anticipated to create lucrative growth opportunities for the UAE automotive aftermarket.
Rise In Production and Sales of Vehicles Drives the Market Growth
Due to the stable fuel prices and high disposable income, there is high demand for private vehicles among consumers. In 2020, 158,711 total vehicles were sold in UAE. Rapid industrialization and urbanization support the development of supportive transportation infrastructure in the country.
The rise in awareness among consumers about the benefits of regular check-ups and maintenance of vehicles contributes to market growth. Also, the growing popularity of the used car market among consumers due to its high affordability over buying new cars is expected to influence the market demand.
Used vehicles are more prone to getting damaged by part failure or wear or tear of the automotive components and require automotive aftermarket services. The growing number of retailers providing automotive aftermarket services to meet the increasing consumer requirements is expected to accelerate the market demand in the next five years.
Increase in Vehicle Safety Concern Fuels the Market Growth
According to the World Health Organization, almost two people die every day in UAE due to road accidents. The rising number of road accidents is leading to a surge in demand for aftermarket components to replace the components having wear and tear.
The government has implemented strict vehicle safety regulations to combat and reduce the number of road accidents happening every day. Based on government regulations, passenger car tires must be sold within two years of their manufacturing date and should be replaced within five years.
Vehicle owners who cannot adhere to the guidelines are fined heavily, thereby fueling the need for timely service and maintenance. Lighting, tires, oil, and transmission fluids, the suspension system should be checked regularly as a part of preventive maintenance and regular check-up to avoid the occurrence of road accidents.
The growing consumer awareness and vehicle safety concerns are expected to bolster the demand for UAE automotive aftermarkets over the next five years.
The emergence of Online Sales Platform Supports the Market Demand
The high internet penetration and proliferation of smart devices are accelerating the popularity of the e-commerce industry in the UAE. Consumers are moving towards increased convenience and comfort and are availing of aftermarket services through the online sales platform.
Online shopping provides the flexibility to customers to compare products on a single platform, avail of hefty discounts, and get the products delivered to their doorstep. Customers can get complete information about the product and services by reading the product specification and can get help by chatting or calling the customer service executive.
The majority of retailers are shifting towards online sales platforms to expand the consumer base and reach remote locations. The market players’ high online sales platform adoption is expected to propel the UAE automotive aftermarket growth over the next five years.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in UAE automotive aftermarket.
- Robert Bosch GmbH
- Bridgestone Corporation
- Denso Sales Middle East & North Africa FZE.
- AISIN Middle East
- JTEKT Corporation
- Hitachi Automotive Systems
- Continental AG
- Yokohama Rubber Company
- The Goodyear Tire & Rubber Company
- ZF Friedrichshafen AG
Report Scope:
UAE Automotive Aftermarket, By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
UAE Automotive Aftermarket, By Component:
- Tires
- Spark Plugs
- Air Filter
- Fuel Filter
- Brake Pad
- Brake Shoe
- Brake Calliper
- Batteries
- Others
UAE Automotive Aftermarket, By Application:
- DIFM (Do it for Me)
- DIY (Do it Yourself)
- OE (Delegating to OEMs)
UAE Automotive Aftermarket, By Region:
- Dubai
- Abu Dhabi
- Sharjah
- Rest of UAE
For more information about this report visit https://www.researchandmarkets.com/r/divqf7
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SOURCE Research and Markets
