UAE Automotive Aftermarket Market Share 2023- Industry Trends, Revenue, Growth Drivers, CAGR Status, Business Challenges and Future Investment Till 2033: SPER Market Research
Within the automobile industry sector, which also covers business parts and automotive services, is the aftermarket. It deals with the production, remanufacturing, distribution, retailing, and installation of all car parts, equipment, and other accessories following the original equipment manufacturers (OEM) sale of the vehicle to the public. The automotive aftermarket offers a wide range of equipment, gadgets, and other parts for vehicles at various price points and levels of quality.
According to SPER market research, ‘UAE Automotive Aftermarket Market Size- By Vehicle Type, By Component, By Service Channel, By Certification- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Dubai Automotive Aftermarket Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.
Growing customer knowledge of the benefits of regular auto maintenance drives the industry along with consumers’ growing inclination towards the more affordable used automobile market. The need for auto aftermarket services is fueled by used cars’ vulnerability to component wear or failure. A growing number of merchants meeting the increasingly demanding needs of consumers improves the market. The need for aftermarket components is driven by wear and tear from an increase in traffic accidents, which is brought on by strict government safety standards. Heavy fines are used to ensure compliance with laws, such as replacing tyres on time, which increases demand for routine auto maintenance. Over the next five years, the automobile aftermarket sector is expected to develop due in part to rising consumer knowledge, safety concerns, and the UAE’s burgeoning e-commerce economy.
Economic changes are causing problems for the UAE car aftermarket, such as how consumer spending is affected by oil price fluctuations. The industry is vulnerable to supply chain interruptions and currency changes since it depends so heavily on imported vehicle parts. Compliance issues for aftermarket players arise from tighter government rules on emissions and car safety standards. Repair and maintenance personnel must constantly adapt to the rapid advancements in technology in the automotive sector, and training expenditures must be made. Furthermore, new methods of distinction are required due to the growing local and international rivalry in the aftermarket sector. In the UAE automobile aftermarket industry, addressing these issues is essential for long-term growth and competitiveness.
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Impact of COVID-19 on UAE Automotive Aftermarket Market
Furthermore, the economic predicament brought about by COVID-19 is fundamentally different from any other crises. The industry’s demand is significantly impacted by COVID-19. The uncertainty surrounding the pandemic may cause changes in consumer purchasing behaviour, which could have a negative impact on the industry’s ability to grow in the near future. The automotive aftermarket players are already feeling the effects of the cash constraint, and over the coming months, it is anticipated that this shortage will only become worse.
UAE Automotive Aftermarket Market Key Players:
Additionally, some of the market key players are AISIN Middle East, Robert Bosch GmbH, The Goodyear Tire & Rubber Company, Others.
Dubai Automotive Aftermarket Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Vehicle Type: Based on the Vehicle Type, UAE Automotive Aftermarket Market is segmented as; Commercial Vehicles, Passenger Cars.
By Component: Based on the Component, UAE Automotive Aftermarket Market is segmented as; Air Filter, Batteries, Brake Calliper, Brake Pad, Brake Shoe, Fuel Filter, Spark Plugs, Tires, Others.
By Service Channel: Based on the Service Channel, UAE Automotive Aftermarket Market is segmented as; DIFM (Do it for Me), DIY (Do it Yourself), OE (Delegating to OEM’s).
By Certification: Based on the Certification, UAE Automotive Aftermarket Market is segmented as; Certified Parts, Counterfeit Parts, Genuine Parts, Others.
By Region: This research also includes data for Abu Dhabi, Dubai, Sharjah, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Dubai Automotive Aftermarket Market Revenue
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