Increasing Demand for Automobile is expected to drive the Growth of KSA Aftermarket Spare Parts Market

The increasing demand for automobiles in Saudi Arabia is a key driver propelling the growth of the aftermarket spare parts market. With the nation's population steadily growing and urbanization on the rise, there is a corresponding surge in the need for personal transportation. This heightened demand is evident in increased vehicle sales across various segments, including passenger cars, commercial vehicles, and off-road vehicles, thus expanding the overall size of the automotive fleet in the country. As more cars are purchased and used in Saudi Arabia, there is a growing need for aftermarket spare parts and services. This demand is driven by several factors, including the aging of vehicles over time, which requires regular maintenance and periodic replacement of worn-out components to ensure optimal performance and safety. Additionally, the diverse climatic conditions in Saudi Arabia, characterized by extreme temperatures and harsh terrain, accelerate vehicle wear and tear, further fueling the demand for aftermarket parts such as filters, cooling system components, and suspension parts.

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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.   

Key Findings of the Study

Surging Preference for Online Purchases of Auto Spare Parts 

The increasing trend of online auto spare parts purchases is a significant driver for Saudi Arabia's aftermarket spare parts market. As digitalization and e-commerce gain momentum, consumers value the convenience, accessibility, and wide product selection of online platforms. With the proliferation of e-commerce channels and dedicated auto parts websites, vehicle owners can easily browse, compare prices, and purchase spare parts from home or work. This shift to online shopping eliminates the need for physical visits to stores, saving time and effort for consumers while allowing aftermarket suppliers to reach a broader customer base across different regions of KSA. 

Report Scope and Market Segmentation

Segment Analysis

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.

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

In 2024, replacement parts segment is expected to dominate in KSA Aftermarket Spare Parts Market

In 2024, replacement parts segment is expected to dominate the market with market share of 81.37% due to as vehicles and machinery age, there is a growing demand for replacement parts to maintain and repair existing equipment. 

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

In 2024, wholesalers & distributors segment is expected to dominate in KSA Aftermarket Spare Parts Market

In 2024, wholesalers & distributors segment is expected to dominate the market with 62.32% market share due to growing government initiatives for localised manufacturing of auto spare parts.  

• On the basis of certification outlook, the market is segmented into genuine parts, certified parts, and uncertified parts. In 2024, genuine parts segment is expected to dominate the market with 52.66% market share
• 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). In 2024, DIFM (Do It for ME) segment is segmented into type, on the basis of wholesalers & distributors, and retails.  In 2024, DIFM (Do It for Me) segment is expected to dominate the market with 70.99% market share   
• On the basis of vehicle age, the market is segmented into 4 to 8 years, 0 to 4 years, and above 8 years. In 2024, 4 to 8 years segment is expected to dominate the market with 49.39% market share  
• On the basis of vehicle type, the market is segmented into passenger cars, commercial vehicle, Utility Task Vehicle (UTV), and recreational vehicle. In 2024, passenger cars segment is expected to dominate the market with 65.39% market share
• On the basis of sales channel, the market is segmented into offline and online. In 2024, offline segment is expected to dominate the market with 84.32% market share
• On the basis of propulsion type, the market is segmented into diesel/petrol, CNG, and electric. In 2024, diesel/petrol segment is expected to dominate the market with 94.83% market share

Major Players

Data Bridge Market Research analyzes Michelin (France), The Goodyear Tire & Rubber Company (U.S.), Continental AG (Germany), Aptiv (Ireland), ZF Friedrichshafen AG (Germany) as major market players in this market.    

Market Development

• In April 2024, Continental AG acquired mold manufacturing specialist EMT Púchov s.r.o. based in Slovakia. The tire maker and EMT's stockholders, the bulk of whom is Dynamic Design (Romania), have a corresponding arrangement. Continental has hired all 107 workers, all of whom have specialized skills in mold manufacture. With the acquisition of EMT, the company completes its internal portfolio for mold making technologies. From now on, the tire manufacturer can independently produce tire molds for all applications if required
• In March 2024, Aptiv named one of the major Ethical Companies for the 12th Consecutive year by Ethisphere. The company has recognized for its commitment to business integrity through robust ethics, compliance, and governance programs. This acknowledgment reaffirms company’s commitment to fostering a culture of ethics, compliance, and governance excellence throughout its operations
• In March 2024, Continental AG Tires come out on Top in Tests carried out by automobile associations and magazines. Vehicle associations, the German ADAC and ACE, as well as automotive publications, AutoBild, AutoBild Reisemobil, Autozeitung, auto motor und sport, and sportauto, were all on the same page where Continental's PremiumContact 7 is a clear winner, topping their testing and rankings. The success of the PremiumContact 7 contributes to strengthening Continental's position as a leading manufacturer of premium tires globally
• In March 2024, Goodyear introduces RangeMax RSA ULT and RangeMax RTD ULT tires for regional work vehicles, offering balanced traction, range, and mileage. The tires cater to electric and gas/diesel-powered vehicles, with features like low rolling resistance and sustainable soybean oil construction. This expansion of their "Electric Drive Ready" tire range helps fleets reduce operating costs and environmental impact
• In October 2023, The Goodyear Tire & Rubber Company launches new KMAX S EXTREME GEN2 tyres for hot climates in the Middle East & Africa, providing better mileage and performance on steer axles. The retreadable and regroovable tyres reduce operating costs and environmental impact, expanding Goodyear's product range and enhancing competitiveness in the aftermarket spare part segment. They also support sustainability by allowing fleets to optimize tyre assets and reduce environmental footprint

Regional Analysis

Geographically, the countries covered in the global virtual infrastructure manager market report are KSA.

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