Industry experts predict Saudi auto parts market will race ahead
Saudi Arabia’s automotive accessories, repair and after-sales service equipment market will reach around SR9 billion ($2.4 billion) in the coming years, said industry experts ahead of a major automotive event in Riyadh. Organised under the patronage and support of the Saudi Ministry of Transport, Saudi Autoshop 2012, the 15th international exhibition for auto repair, equipment, tools, parts and accessories, will run from November 17 to 22 at Riyadh Exhibition Centre.
The event will be held concurrently with Riyadh Motor Show 2012, the 29th international exhibition for motor vehicles, which will showcase the latest car models from the world’s leading automobile makers. “Saudi Autoshop 2012 is strategically positioned as a dedicated networking platform that primarily serves the Saudi market, which has been recognized as the largest parts and garage equipment market in the Middle East,” said Kamil Al Jawhari, project manager of Riyadh Motor Show at Riyadh Exhibitions Company.
“The event provides excellent opportunities for leading brands, automotive accessories and spare parts companies, and after-sales service providers to expand their sales network and strengthen their presence in Saudi Arabia. “We expect more than 96,000 visitors this year, which makes Saudi Autoshop one of the most important events of its kind in the region. Moreover, with Saudi Autoshop running alongside the Riyadh Motor Show, we are once again on track to deliver the most comprehensive motor showcase in the Middle East,” he added. With an estimated 75 per cent of all Saudi males of driving age owning at least one vehicle, Saudi Arabia’s high automobile penetration rate has been driving the rapid growth of the country’s auto parts and after-sales service market.
- Automotive sales in Saudi Arabia to hit over SAR 69 billion in 2010
- Saudi auto sales to increase 5 per cent, help drive burgeoning Middle East market for automobiles, parts and services
- Back-to-back trade events generate SAR millions in new business deals and projects in Saudi Arabia
- Gulf auto industry valued at $11 billion annually
- Q1 2008 auto parts trade valued at AED 5.3 billion up 33%