GCC spare parts market valued at $11 billion
Automotive Aftermarket Middle East (AAME), the Middle East's tradeshow for automotive parts, accessories, tires, batteries and garage equipment, will double in size for 2003. Organizers International Expo-Consults (IEC) says AAME 2003, to be held at the Airport Expo Dubai from March 25-27, will occupy 3,000 square meters and feature over 250 companies from more than 30 countries across North and South America, Europe, the Middle and Far East and Australasia.
The show will target the Gulf Cooperation Council (GCC) spare parts market that is valued at over $11 billion. To date, IEC says, 10 countries have contracted for national or industry pavilions at the show. They are Australia, Italy, India, China, Spain, Pakistan, Taiwan and, for the first time, the UK, Germany and Turkey.
China's pavilion, featuring 40 companies, will quadruple in size to 424 square meters, compared with 2002, and the Taiwanese pavilion, hosting 34 companies, will be nearly three times larger at 278 square meters. Thirty companies will be housed in Turkey's 278 square meters debut pavilion, while 15 companies will occupy Germany's 216 square meters pavilion.
Regional demand for spare parts and accessories is being fuelled by strong growth in new car sales. Industry analysts expect the number of vehicles to grow by five to eight percent in 2002, based on half-year figures. Dubai alone imported 100,132 vehicles in the first six months of 2002, a 43.7 percent increase over the same period in 2001.
Elsewhere in the region, new vehicle sales in Saudi Arabia exceed 100,000 units annually; in Kuwait one-in-two people own a car and in Oman, vehicle registrations topped 500,000 for the first time in 2001.
“The rapid growth in the number of vehicles on the region's highways has resulted in increased demand for genuine spare parts and accessories. AAME 2003 will feature the best brands from around the world, many of which will be making their regional debut at the show,” said IEC Vice President Mohammed Falaknaz.
“In addition, Dubai is the hub of the Middle East's re-export business, with between 50 and 60 percent of aftermarket imports being re-exported. AAME provides a key gateway into this market that is worth up to $1.5 billion and growing at 20 percent per annum. With a visitor footprint taking in the entire Middle East and North Africa, AAME 2003 will provide exhibitors with an unparalleled opportunity to target customers in one of the fastest growing spare parts markets in the world,” said Falaknaz. — (menareport.com)
© 2003 Mena Report (www.menareport.com)