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KSA Aftermarket Spare Parts market - Industry Trends and Forecast to 2029

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KSA Aftermarket Spare Parts market - Industry Trends and Forecast to 2029

  • ICT
  • Published Report
  • Apr 2024
  • Country Level
  • 350 Pages
  • No of Tables: 33
  • No of Figures: 33

KSA Aftermarket Spare Parts market - Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2029
Diagram Market Size (Base Year) USD 4.79 USD Thousand
Diagram Market Size (Forecast Year) USD 6.61 USD Thousand
Diagram CAGR %

Major Markets Players

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KSA Aftermarket Spare Parts Market, By Type (Replacement Parts and Accessories), Distribution Channel (Wholesalers & Distributors and Retails), Certification Outlook (Genuine Parts, Certified Parts, and Uncertified Parts), Service Channel (DIFM (Do It for Me), DIY (Do It Yourself), and OE (Delegating to OEM’S)), Vehicle Age (4 to 8 Years, 0 to 4 Years, and Above 8 Years), Vehicle Type (Passenger Cars, Commercial Vehicle, Utility Task Vehicle (UTV), Recreational Vehicle), Sales Channel (Offline and Online), Propulsion Type (Diesel/Petrol, CNG, and Electric)- Industry Trends and Forecast to 2029.

KSA Aftermarket Spare Parts Market Analysis and Size

Aftermarket spare parts refer to components or parts that has manufactured by third-party companies and sold separately from the original equipment manufacturer (OEM). These parts has designed to replace or repair original parts in vehicles, machinery, or other equipment after the original parts have worn out or malfunctioned. Aftermarket spare parts has often produced to meet or exceed the specifications of the OEM parts and typically offered at competitive prices. They provide consumers with alternatives to OEM parts, offering a wider selection and often providing cost savings compared to purchasing directly from the original manufacturer.

KSA Aftermarket Spare Parts MarketKSA Aftermarket Spare Parts Market

Data Bridge Market Research analyses that KSA aftermarket spare parts market is expected to reach a value of USD 6.61 thousand by 2029 from 4.79 thousand in 2023, growing at a CAGR of 5.7% during the forecast period 2024 to 2029.    

Report Metric

Details

Forecast Period

2024 to 2029

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Thousand

Segments Covered

Type (Replacement Parts and Accessories), Distribution Channel (Wholesalers & Distributors and Retails), Certification Outlook (Genuine Parts, Certified Parts, and Uncertified Parts), Service Channel (DIFM (Do It for Me), DIY (Do It Yourself), and OE (Delegating to OEM’S)), Vehicle Age (4 to 8 Years, 0 to 4 Years, and Above 8 Years), Vehicle Type (Passenger Cars, Commercial Vehicle, Utility Task Vehicle (UTV), Recreational Vehicle), Sales Channel (Offline and Online), Propulsion Type (Diesel/Petrol, CNG, and Electric) 

Countries Covered

KSA

Market Players Covered

Michelin, The Goodyear Tire & Rubber Company, Continental AG, Aptiv, ZF Friedrichshafen AG, Robert Bosch GmbH, Knorr-Bremse AG, Yokohama Tire Corporation, Tenneco Inc, and DENSO CORPORATION, among others  

Market Definition

Aftermarket spare parts refer to components or parts that has manufactured by third-party companies and sold separately from the original equipment manufacturer (OEM). These parts has designed to replace or repair original parts in vehicles, machinery, or other equipment after the original parts have worn out or malfunctioned. Aftermarket spare parts has often produced to meet or exceed the specifications of the OEM parts and typically offered at competitive prices. They provide consumers with alternatives to OEM parts, offering a wider selection and often providing cost savings compared to purchasing directly from the original manufacturer.

 KSA Aftermarket Spare Parts Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers

  • Increasing Demand for Automobile

The escalating demand for automobiles in Saudi Arabia acts as a pivotal driver propelling the aftermarket spare parts market forward. The nation's population steadily growing and urbanization trends on the rise, there is a corresponding surge in the need for personal transportation, be it for commuting or leisure purposes. This heightened demand establishes in increased vehicle sales across various segments, including passenger cars, commercial vehicles, and off-road vehicles, thereby reinforcing the overall size of the automotive fleet within the country.

  • Surging Preference for Online Purchases of Auto Spare Parts

The surging preference for online purchases of auto spare parts represents a significant driver for the aftermarket spare parts market in Saudi Arabia. Digitalization and e-commerce continue to gain traction, consumers increasingly value the convenience, accessibility, and wide product selection offered by online platforms. The proliferation of e-commerce channels and dedicated auto parts websites, vehicle owners can easily browse, compare prices, and purchase spare parts from the comfort of their homes or workplaces.

KSA Aftermarket Spare Parts Market

Opportunities

  • Collaboration and Partnerships Among Market Players

Collaboration and partnerships among market players present a significant opportunity for the KSA aftermarket spare parts market to enhance its competitiveness and efficiency. By forming strategic alliances, companies within the spare parts industry can leverage each other's strengths, resources, and expertise to drive innovation, expand market reach, and improve supply chain efficiencies. For instance, partnerships between spare parts manufacturers, distributors, and retailers can streamline distribution channels, reduce lead times, and optimize inventory management, ultimately benefiting end customers with faster access to quality spare parts.

  • Innovative Distribution Models

Innovative distribution models present a significant opportunity for the Kingdom of Saudi Arabia (KSA) aftermarket spare parts market. The automotive industry in KSA witnessing rapid growth and technological advancements, traditional distribution channels has being challenged to adapt to changing consumer preferences and market dynamics. Innovative models such as e-commerce platforms, direct-to-consumer sales, and subscription-based services offer the potential to revolutionize the aftermarket spare parts market in KSA by providing greater convenience, accessibility, and efficiency for consumers.

Restraints/Challenges

  • Regulatory Compliances Related to Auto Spare Parts

Regulatory compliance poses a significant restraint for the aftermarket spare parts market in Saudi Arabia. The stringent standards and regulations set by the Saudi Standards, Metrology and Quality Organization (SASO) require suppliers and distributors to adhere to specific quality and safety criteria for automotive spare parts. Ensuring compliance with SASO standards often entails rigorous certification processes, which can be time-consuming and costly for businesses operating in the aftermarket segment. Additionally, import regulations and customs duties further add to the complexity and cost of sourcing and distributing spare parts in the Saudi market. Consequently, these regulatory burdens may impede the entry of new players into the aftermarket sector and limit the availability of competitively priced spare parts, thereby hindering market growth and innovation.

  • High Raw Material Price Fluctuations

The aftermarket spare parts market in Saudi Arabia faces a formidable restraint with the persistent fluctuations in raw material prices. These fluctuations ripple across the entire supply chain, affecting manufacturers, distributors, and ultimately, end consumers. Manufacturers, particularly small and medium-sized enterprises (SMEs), withstand the worst of these price swings, grappling with the unnerving task of managing operational costs within uncertainty. Forging partnerships with raw material suppliers becomes increasingly complex as negotiating stable pricing contracts becomes an elusive endeavour in the face of volatile markets.

Recent Developments

  • In June 2023, According to an article published by Cotecna Inspection SA, Cotecna Worldwide announced a significant development concerning regulatory compliance in Saudi Arabia. The Saudi Standards, Metrology and Quality Organization (SASO) has approved amendments to the technical regulations and standard specifications for auto spare parts, reflecting their commitment to upholding product quality and safety standards in the Kingdom
  • In June 2023, According to an article published by BRIDGESTONE MIDDLE EAST AND AFRICA, the scorching summers in the GCC region, with temperatures often exceeding 50°C, pose significant challenges for car tyres, making it crucial for vehicle owners to take preventive measures. As temperatures rise, tyre pressure increases due to the expansion of air molecules inside the tyres, leading to over-inflation and potential blowouts. Friction generated while driving further elevates tyre temperatures
  • In June 2022, According to an article published by Industrial Centre of Saudi Arabia, the Automotive Cluster is dedicated to advancing the automotive industry in Saudi Arabia in line with the National Industry Strategy. Their goal is to have 3-4 OEMs producing over 400,000 passenger vehicles domestically by 2030, with a target of achieving a local gross value add (LGVA) of 40%. They aim to position Saudi Arabia as an export hub for high-value-added automotive products globally
  • In February 2024, new east General Trading and Isuzu Motors forged partnership, culminating in the establishment of dealership in KSA, marking a significant milestone in automotive excellence. Positioned strategically in the heart of KSA, the dealership, spanning 8,060 square meters, epitomized the partners' commitment to innovation and service excellence, setting new industry standards

KSA Aftermarket Spare Parts Market Scope    

KSA aftermarket spare parts market is segmented into eight notable segments based on type, distribution channel, certification outlook, propulsion type, service channel, vehicle age, vehicle type, and sales channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the differences in your target markets. 

Type

  • Replacement Parts
  • Accessories

On the basis of type, the market is segmented into replacement parts and accessories.

Distribution Channel

  • Wholesalers & Distributors
  • Retails

On the basis of distribution channel, the market is segmented into wholesalers & distributors and retails. 

Certification Outlook

  • Genuine Parts
  • Certified Parts
  • Uncertified Parts

On the basis of certification outlook, the market is segmented into genuine parts, certified parts, and uncertified parts.    

Service Channel

  • DIFM (Do It for Me)
  • DIY (Do it Yourself)
  • OE (Delegating to OEM’S)

On the basis of service channel, the market is segmented into DIFM (Do it for Me), DIY (Do it yourself), and OE (delegating to OEM’S).    

Vehicle Age

  • 4 to 8 Years
  • 0 to 4 Years
  • Above 8 Years

On the basis of vehicle age, the market is segmented into 4 to 8 years, 0 to 4 years, and above 8 years.

Vehicle Type

  • Passenger Cars
  • Commercial Vehicle
  • Utility Task Vehicle (UTV)
  • Recreational Vehicle

On the basis of vehicle type, the market is segmented into passenger cars, commercial vehicle, Utility Task Vehicle (UTV), and recreational vehicle.

Sales Channel

  • Offline
  • Online

On the basis of sales channel, the market is segmented into online and offline.

Propulsion Type

  • Diesel/Petrol
  • CNG
  • Electric

On the basis of propulsion type, the market is segmented into diesel/petrol, CNG, and electric.       

KSA Aftermarket Spare Parts Market

Competitive Landscape and KSA Aftermarket Spare Parts Market Share Analysis

KSA aftermarket spare parts market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global industrial automation market.  

Some of the major players operating in the KSA aftermarket spare parts market are Michelin, The Goodyear Tire & Rubber Company, Continental AG, Aptiv, ZF Friedrichshafen AG, Robert Bosch GmbH, Knorr-Bremse AG, Yokohama Tire Corporation, Tenneco Inc, and DENSO CORPORATION among others.


SKU-

 

TABLE 1 REGULATORY STANDARDS FOR KSA AFTERMARKET SPARE PARTS MARKET

TABLE 2 TOP 50 SPARE PARTS PRICES

TABLE 3 MOST SELLING SPARE PARTS FOR TOP 15 BRANDS IN KSA

TABLE 4 KSA AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 5 KSA AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (THOUSAND UNITS)

TABLE 6 KSA REPLACEMENT PARTS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 7 KSA REPLACEMENT PARTS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (THOUSAND UNITS)

TABLE 8 KSA ELECTRONIC COMPONENTS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 9 KSA ELECTRONIC COMPONENTS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (THOUSAND UNITS)

TABLE 10 KSA COOLING SYSTEMS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 11 KSA COOLING SYSTEMS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (THOUSAND UNITS)

TABLE 12 KSA FUEL INTAKE AND IGNITION PARTS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 13 KSA FUEL INTAKE AND IGNITION PARTS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (THOUSAND UNITS)

TABLE 14 KSA EXHAUST COMPONENTS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 15 KSA EXHAUST COMPONENTS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (THOUSAND UNITS)

TABLE 16 KSA ACCESSORIES IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 17 KSA ACCESSORIES IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (THOUSAND UNITS)

TABLE 18 KSA AFTERMARKET SPARE PARTS MARKET, BY PROPULSION TYPE, 2018-2029 (USD MILLION)

TABLE 19 KSA AFTERMARKET SPARE PARTS MARKET, BY SERVICE CHANNEL, 2018-2029 (USD MILLION)

TABLE 20 KSA DIFM (DO IT FOR ME) IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 21 KSA AFTERMARKET SPARE PARTS MARKET, BY DISTRIBUTION CHANNEL, 2018-2029 (USD MILLION)

TABLE 22 KSA RETAILS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 23 KSA AFTERMARKET SPARE PARTS MARKET, BY CERTIFICATION OUTLOOK, 2018-2029 (USD MILLION)

TABLE 24 KSA AFTERMARKET SPARE PARTS MARKET, BY VEHICLE AGE, 2018-2029 (USD MILLION)

TABLE 25 KSA AFTERMARKET SPARE PARTS MARKET, BY SALES CHANNEL, 2018-2029 (USD MILLION)

TABLE 26 KSA ONLINE IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 27 KSA AFTERMARKET SPARE PARTS MARKET, BY VEHICLE TYPE, 2018-2029 (USD MILLION)

TABLE 28 KSA PASSENGER CARS IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 29 KSA COMMERCIAL VEHICLE IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 30 KSA LIGHT COMMERCIAL VEHICLE IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 31 KSA HEAVY COMMERCIAL VEHICLE IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 32 KSA TRUCK IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

TABLE 33 KSA UTILITY TASK VEHICLE (UTV) IN AFTERMARKET SPARE PARTS MARKET, BY TYPE, 2018-2029 (USD MILLION)

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FREQUENTLY ASK QUESTIONS

The KSA aftermarket spare parts market size will be worth USD 6.61 thousand by 2029.
The growth rate of the KSA aftermarket spare parts market is 5.7%.
Increasing Demand for Automobile & Surging Preference for Online Purchases of Auto Spare Parts are the growth drivers of the KSA aftermarket spare parts market.
Type, distribution channel, certification outlook, propulsion type, service channel, vehicle age, vehicle type, and sales channel are the factors on which the KSA aftermarket spare parts market research is based.
Major companies in the KSA aftermarket spare parts market are Michelin, The Goodyear Tire & Rubber Company, Continental AG, Aptiv, ZF Friedrichshafen AG, Robert Bosch GmbH, Knorr-Bremse AG, Yokohama Tire Corporation, Tenneco Inc, and DENSO CORPORATION, among others.
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