Middle East Spare Parts Market, By Vehicle Type (Passenger Car and Commercial Vehicle), By Component (Tires, Batteries, Brake Components, Others), By Country, Competition Forecast & Opportunities, 2027
New York, July 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East Spare Parts Market, By Vehicle Type, By Component, By Country, Competition Forecast & Opportunities, 2027" - https://www.reportlinker.com/p06293056/?utm_source=GNW
The Middle East spare parts market is expected to grow at a steady CAGR in the forecast period, 2023-2027.An increase in vehicle production and sales and the removal of ban from women driving vehicles in Saudi Arabia are expected to fuel the market demand in the coming years.
The growing infrastructure development and digitization of the component delivery sales and services coupled with the growing popularity of the e-commerce industry are further expected to boost the demand for the Middle East spare parts market in the forecast period.
Middle East spare parts market is segmented into vehicle type, component, country, and competitive landscape.Based on vehicle type, the market can be bifurcated into passenger cars and commercial vehicles.
The passenger car segment is expected to account for a major market share in the forecast period, 2023-2027.High production and sales of passenger cars in the region and the rise in per capita income of consumers are driving the demand for the Middle East spare parts market.
Market players are making the use of novel technologies to make passenger cars. The surge in the average life of passenger cars is expected to drive the demand for spare parts in the coming years.
The major players operating in the Middle East spare parts market are Robert Bosch GmbH, Bridgestone Corp., Yokohama Rubber Company Limited, Goodyear Tire & Rubber Company, AC Delco, Exide Industries, Schaeffler Technologies AG & Co. KG, Hyundai Mobis, Mitsui, Continental AG.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F–2027F
Objective of the Study:
• To analyze the historical growth in the market size of Middle East spare parts market from 2017 to 2021.
• To classify and forecast Middle East spare parts market based on vehicle type, component, country, and company.
• To identify drivers and challenges for Middle East spare parts market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Middle East spare parts market.
• To identify and analyze the profile of leading players operating in the Middle East spare parts market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across Middle East.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major manufacturers across Middle East.
The analyst calculated the market size of Middle East spare parts market by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications 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 the analyst.
Key Target Audience:
• Spare part manufacturers, suppliers, distributors, and other stakeholders.
• Research organizations and consulting companies
• Trade associations, organizations, forums, and alliances related to spare parts.
• Government bodies such as regulating authorities and policy makers
• Industry associations
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Middle East spare parts market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Middle East Spare Parts Market, By Vehicle Type:
o Passenger Car
o Commercial Vehicle
• Middle East Spare Parts Market, By Component:
o Brake Components
• Middle East Spare Parts Market, By Country:
o Saudi Arabia
o United Arab Emirates
Company Profiles: Detailed analysis of the major companies present in Middle East spare parts market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06293056/?utm_source=GNW
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