KSA Automotive Market Accelerates with ~100,000 Car Plates Issued in 2022, Propelled by Vision 2030 - What's on the Horizon for Saudi Arabia's Auto Industry?: Ken Research

The report covers Auto Industry KSA, KSA Automobile Market, Automotive Sector KSA, Motor Vehicle Market KSA, KSA Vehicle Industry, Auto Sector KSA, Number of Motor Vehicles Imported KSA, Number of Spare Parts Imported KSA, Number of New Car Sales, Number of Driving Licenses Holder, Number of Car Plates Issued, SUV Market KSA, KSA Sedans Industry, MPV Market Share KSA, KSA Trucks Segment Revenue, Motorcycle Sector Growth, Large Sedans Division KSA, Northern Automotive Sector KSA, Western Motor Vehicle Market KSA, Branded Auto Workshops Entities KSA, Opportunities KSA Auto Industry, Challenges Automotive Sector KSA, Leading Automotive Players KSA, Leading Players KSA Auto Industry, Competitors KSA Automobile Market, Emerging Players KSA Car Sector, AJL Market Share KSA, KSA Yusuf Naghi Market Share Juffali Revenue KSA, KSA UMA Revenue, Investment Car Market KSA, Fund Raised Startup in KSA.

Gurugram, India, July 04, 2023 (GLOBE NEWSWIRE) -- The Automotive Market in KSA is moderately fragmented with highly competitive rivalry among the competitors. Some of the popular Automotive brands like Petro Min, Saudi Parts Center Company and Atlobha compete on the basis of Price, Technology Advancement and Strong Acquisitions.

1. Growth in Driving Licenses and Registered Cars across All Regions in Saudi Arabia with the Inclusion of Women Drivers

  • Makkah, Al-Riyadh & Eastern provinces accounts for the highest used & new vehicle sales in the Kingdom due to high population levels & influx of tourism all year around.
  • Increasing monthly income in regions such as Al- Baha, Jazan, Al- Jowf, Al- Qasim & more highlighting the potential for higher demand for automobiles in the future.
  • Since the restriction was lifted in 2018, more driving licenses have been issued to women.
  • Northern borders only receive seasonal tourists due to hill stations, leading to a small number of registered vehicles.
  • The Eastern province enjoys the benefit of ports & industrial growth, leading to the highest average household income & car plates issued.

Interested to Know More about this Report, Request a Free Sample Report

2. How Saudi Vision 2030 and the Saudi Green Initiative are Boosting Vehicle Electrification
Even though internal combustion engine (ICE) vehicles remain the dominant force in the Saudi Arabia (KSA) automotive market, there is still a significant opportunity for electric vehicle (EV) producers. Original Equipment Manufacturers (OEMs) are actively investing in improving the efficiency of their vehicles and offering competitive range options. The focus of both OEMs and the KSA government is on electrification, with ambitious targets set to reduce carbon emissions by 20%-40% by 2030.
The increasing consumer awareness, shifting perception towards environmentally-friendly transportation, and growing environmental concerns will be the driving factors behind the growth of EVs in KSA.

Visit this Link :- Request for custom report

3. Revolutionizing Customer Service: Innovative Solutions and Quick Service Models to Tackle High Downtime Challenges in the KSA Automotive Market

Best Practices for the Quick Service Center Operations
Technically Equipped Team:- To effectively manage these centers, a team that prioritizes extracting the most value in the least amount of time is essential. This requires providing technicians with intensive training and assignments to enhance their capacity to quickly comprehend different vehicles and perform diagnostics on them efficiently.

Strategic Competitive Advantage:- To address the issues of high prices, inconvenient locations, and slow service at agency quick centers, strategic placement of centers near major commercial areas in KSA like Dammam, Riyadh, Mecca, Hail, etc., and offering competitive prices (lower than competitors) is needed.

Request free 30 minutes analyst call

Building Brand value & Goodwill:- Quick service centers contribute to establishing a reputable and recognized brand by assisting main centers with light maintenance services, reducing downtime for major repairs. To provide a premium experience for customers, it is crucial to improve waiting times through comfortable lounges and other services, aiming for a maximum wait time of 1 hour instead of 30 minutes.

Market Taxonomy
KSA Automotive Market
KSA Automotive Market Segmentation
By Vehicle Type

  • SUV
  • Sedans
  • Pick-up Trucks
  • Full Size Vans
  • MPV
  • Sports

By SUVs Type

  • Small SUVs
  • Large SUVs

By Sedan Type

  • Large
  • Medium
  • Small
  • Mini

By Vehicle OEMs

  • Toyota
  • Hyundai
  • Changan
  • Nissan
  • KIA
  • MG
  • Mazda
  • Isuzu
  • Geely
  • Chevrolet
  • Others

By Region

  • Central
  • Eastern
  • Northern
  • Southern & Western

KSA Automotive Import Segmentation
By Vehicle Type

  • Passenger Cars
  • Trucks
  • Buses & SPV Imports
  • Motorcycle

KSA Aftermarket Services Market Segmentation
By Entities

  • Branded Workshops
  • Agency Repair (Dealerships)
  • Un-Organized Workshops

For more insights on the market intelligence, refer to below link:-
KSA Automotive Market

Related Reports By Ken Research:-
Egypt Automotive Aftermarket Service Industry Outlook to 2027: Driven by burgeoning population, vehicle sales growth and government moves to combat auto emissions

The market size on the basis of revenue is expected to grow at a CAGR of ~19%. Number of Four-Wheeler Parcs in Egypt is expected to expand at a CAGR of ~5% in between 2021 and 2027E. Passenger vehicle sales is estimated to surge rapidly, attributed to growing purchasing power of the consumers in Egypt. Also, there are lots of opportunities for e-vehicles in Egypt, considering high urban density, and Egypt's potential for local production.

The Egyptian aftermarket is ripe for growth and to offer up great opportunities for parts producers, distributors, and service providers. But the increasing competition from local producers may mean overseas suppliers will need to invest in their own on-the-ground structures or seek out ways to add value locally to increase market shares.

UAE Automotive Aftermarket Service Industry Outlook to 2026: Driven by increasing number of startups and consumers shifting preference towards online and organized sector

The market size on the basis of revenue is expected to grow at a CAGR of 2.8% between 2021 and 2026. Increased vehicle production and sales and the growing used car market are playing a significant role in the growth of the UAE automotive aftermarket. Also, the rapid adoption of online platforms by the market players is anticipated to create lucrative growth opportunities for the UAE automotive aftermarket. 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. It is expected that the increased penetration of electric vehicles and used car market will act as a catalyst for the UAE Aftermarket Industry.

Malaysia Automotive Finance Market Outlook to 2026-Driven by exorbitant car prices, growing digital penetration, preference for owning passenger cars amidst systematically regulated car ownership policies by the Government

The Malaysia Automotive Finance Market is expected to grow at a double digit CAGR over the period 2022-2027F owing to rising demand for cars, easy loans availability, and government initiatives. Number of passenger car ownership in Malaysia exceeded the population in Malaysia. Poor public transport infrastructure is one of the reasons. The used car industry is also enjoying a boom in business, and is reportedly on-track to register double-digit growth in sales. Import of vehicles still exceeds the exports resulting huge trade deficit. Government has taken various initiatives to support domestic manufacturing of vehicles by setting up companies like Proton and Perodua. Government also gives various incentives on purchasing of National Car. The market is at maturity stage with stable population, high ownership of car and small domestic commercial vehicle market, the opportunity of growth in Malaysia is quite limited.

Indonesia Automotive Aftermarket Service Market Outlook to 2026: Influx of new players and car variants from abroad are contributing to the growth of automotive aftermarket service industry in Indonesia

The Indonesian market is anticipated to witness the expansion of multi-brand car service centers in the Tier I cities to give a tough competition to the authorized workshops. Over the forecast period 2021-2026, the Indonesia Automotive Aftermarket service market Revenue is further anticipated to increase to USD ~ Bn by the year 2026, thus showcasing a CAGR of 3.6%.

Follow Us –
LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth