MEA Automotive Aftermarket Market Product Description:
The automotive aftermarket is one of the active, involved and highly competitive markets that generally involve retail, manufacturing, remanufacturing and distribution. In addition, the aftersales sector includes the installation of accessories, all vehicle parts, equipment, and chemicals after the OEM sells the product to the buyer. The automotive aftermarket is a diversified business that deals mainly with maintenance, repair, and after-sales service. There are several parts of different quality and price for different vehicle models.
MEA Automotive Aftermarket Market Overview
The Middle East and Africa (MEA) Automotive aftermarket industry is expected to reach around US$ 38 billion by 2025, increasing with a CAGR of 7% from US$ 26 billion in 2017.
Demand for commercial vehicles is expected to increase throughout the region due to the recovery of economic conditions in the primary markets.
MEA Automotive Aftermarket Market Recent Developments and Trends
November 2018: GAA (Gulf Advantage Automobiles), which imported Renault cars from Saudi Arabia, launched a new Renault Duster SUV on the market.
July 2018: Toyota distributor in Saudi Arabia Abdul Latif Jameel Motors launches a new Toyota Rush.
In 2017, the government of Qatar established a $ 44 million tire recycling plant to recycle tires and other rubber materials into new products.
Karwa Motors plans to produce Oman's first assembled buses in 2020, and the company plans to build 1,000 buses each year when Phase 1 operations begin.
In May 2018 Saudi Arabian National Tire Company, (NTC) announced plans to build a tire manufacturing plant in Jubail by 2020, which will be able to produce 20 million tires per year.
November 2018: Tata Motors has launched two models, Tata NEXON and Tata HEXA in Tanzania through the distributor Tata Africa Holdings (Tanzania) Limited.
June 2018: Ford presents the new sedan peak model in the south African market.
MEA Automotive Aftermarket Market Drivers
The rise in demand for vehicles is among the main drivers of the MEA automotive aftermarket industry. Developments in the engineering of the vehicle like options for customization, various paint, and coatings, robust components, and engines, which are due to rapid advances in technology are likely to fuel the regional market during the projection period. The high flexibility in the design of the vehicle is presumed to create immense opportunities for the market boom. Changes in consumer lifestyle coupled with the increase in disposable income is predicted to increase production and sales of auto parts.
With changing trends and easy customization, customers can use their aftermarket products to replace the original equipment. The need for new and advanced vehicles is increasing the demand for auto parts. The reduction of the costs of the components of the aftermarket is one of the main drivers of market growth. Also, population growth and increasing use of light cars positively affect the market.
MEA Automotive Aftermarket Market Restraints
In contrast, the main limiting factor in the market is the legal problems. Besides, as the opening of the automated market increases, market growth is steep.
MEA Automotive Aftermarket Market Segmentation
The MEA Automotive Aftermarket market is classified by type of product, end-user and distribution channel.
Based on the product, the MEA Automotive Aftermarket market is divided into Wear-and-Tear Parts, Crash-Relevant Parts, Accessories, and Diagnostic Products. Of these, the accessories segment held the leading share and is likely to continue the same in the prediction period.
By Distribution Channel:
Based on the distribution channel, the MEA market is bifurcated as Offline and Online. The offline segment registered the highest part in the local market, owing to the rise in the number of traders, automotive dealerships, garage and service stations, commercial logistics and retail outlets. However, online sales are also destined to contribute a significant percentage in the coming years.
Based on the application, the MEA automotive aftermarket business is segmented as commercial vehicles and consumer vehicles. Both the divisions are contributing in a similar manner to the local industry and will continue the same in the envisioned years.
MEA Automotive Aftermarket Market Regional Analysis
MEA Automotive AfterMarket business is geographically classified in countries like Saudi Arabia, Iran, United Arab Emirates, and Oman, and customers want to modify and improve the performance of their vehicles by customizing and enhancing the appearance of the cars. In recent years, many vehicle modifications have been requested, especially among young people in the region. This trend is supposed to continue in the foreseen years, augmenting the demand for auto parts in the Middle East and Africa.
Some of the main players that dominate the MEA Automotive AfterMarket are Dana, Tenneco, TRW Automotive, Johnson Controls, Visteon and BorgWarner.
The research done takes place in two phases namely-
Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automotive Aftermarket Market, By Product
6.1.1 Wear-and-Tear Parts
6.1.2 Crash-Relevant Parts
6.1.4 Diagnostic Products
6.1.5 Market Size Estimations & Forecasts (2021-2026)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Automotive Aftermarket Market, By Distribution Channel
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Automotive Aftermarket Market, By Application
6.3.1 Commerical Vehicle
6.3.2 Consumer Vehicle
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021-2026)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Distribution Channel
7.2.4 By Application
7.3.1 By Country
188.8.131.52 Rest of Europe
7.3.2 By Product
7.3.3 By Distribution Channel
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Distribution Channel
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
126.96.36.199 Rest of Latin America
7.5.2 By Product
7.5.3 By Distribution Channel
7.5.4 By Application
7.6 Middle East and Africa
7.6.1 By Country
188.8.131.52 Middle East
7.6.2 By Product
7.6.3 By Distribution Channel
7.6.4 By Application
8. Key Player Analysis
8.1 Denso Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Robert Bosch GmbH
8.3 Mitsubishi Electric Corporation
8.4 Delphi Automotive Plc
8.6 Akebono Brake Industry Co., Ltd
8.7 Magna Internation Inc.
8.9 Continental AG
8.10 Cooper Tire & Rubber Company
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures