GCC Light Vehicle Aftermarket Outlook 2021-2025 Report: Regulation Expected to Play Major Role in GCC Light Vehicle Aftermarket Beyond 2020 – ResearchAndMarkets.com

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DUBLIN – (COMMERCIAL THREAD) – The report “GCC Light Vehicle Aftermarket Outlook, 2021” has been added to ResearchAndMarkets.com offer.

This prospective study analyzes and forecasts the development of the light vehicle aftermarket of GCC countries from 2021 to 2025 based on various future trends and macroeconomic forces. It provides forecasts for aftermarket revenue (including by country, product type and segment), sales and vehicles in operation.

In 2020, the Gulf Cooperation Council (GCC) region faced significant challenges due to the COVID-19 pandemic and falling oil prices. The gross domestic product (GDP) of the GCC countries contracted by 5-10% in 2020. The GCC population fell by 3-5% due to the exodus of expatriates. Every industry and every sector has faced multiple disruptions.

The GCC light vehicle aftermarket has also evolved due to declining market demand as vehicle kilometers traveled (VMT) shrunk, the supply chain was disrupted, and new business models ( such as door-to-door service) have emerged to serve the market in the New Ordinary.

During an economic recovery, profitability is a key purchasing decision factor. For example, after having forged partnerships with 2 online platforms, a small 6-year garage in Dubai experienced 30% growth in H2 2020 by offering cheaper service contracts targeting American vehicles to attract center customers. dealer service nearby; China-made automotive tires in Kuwait have gained market share from 38.0% in 2014 to over 50.0% in 2020. Overall, the market has seen a trend of independent aftermarket brands overtaking original equipment brands (OE) in 2020.

With economic diversification and the development of non-oil industries, the economy of the GCC region is expected to recover and grow from 2021. National programs in GCC countries, such as Saudi Vision 2030, Qatar 2030 and UAE 2030 , should be the main drivers of long-term growth.

Global events like Expo 2020 Dubai (rescheduled for October 2021) and the 2022 FIFA World Cup in Qatar are likely to attract millions of visitors to the region and trigger increased demand in several sectors, including the aftermarket for light vehicles.

Dubai’s efforts to build a smart and sustainable city integrate the concept of Connected, Autonomous, Shared and Electric (CASE) mobility into the automotive market. Innovation dealerships use login technology to record vehicle condition remotely and help drivers schedule service appointments. Several car-sharing start-ups in the region have major expansion plans in 2021, whether for company-owned fleets or peer-to-peer sharing.

Electric car adoption is also increasing in GCC countries, with Dubai currently experiencing the highest adoption. With the development of mobility technology, the service market is expected to experience many new market dynamics with the advancement of the mobility industry.

Main topics covered:

1. Summary

  • Highlights 2020-2021

  • Impact of COVID-19 on the aftermarket of light vehicles in GCC countries in 2020

  • GCC Light Vehicle Secondary Market 2020 – Actual vs Forecast

  • Secondary market revenues for light vehicles in GCC countries

  • GCC Light Vehicle Aftermarket Revenue by Segment

  • Impact of COVID-19 on global sales of light vehicles

  • Impact of COVID-19 on the GCC Light Vehicle Aftermarket

  • Better forecast for 2021

2. The strategic imperative

  • Why is it more and more difficult to cultivate?

  • The strategic imperative

  • The Impact of the Three Key Strategic Imperatives on the GCC Light Vehicle Aftermarket

  • Growth opportunities fuel the growth pipeline engine

3. Growth environment and scope

  • Scope of research

  • Parts segmentation

  • Product / system segmentation

  • After-sales service channels

4. Macroeconomic factors

  • 2021 GCC Region Economic Outlook – Better Forecast

  • GCC Region – Demographic Highlights

  • Middle East – Main economic developments

  • Regulation expected to play a major role in the GCC light vehicle aftermarket beyond 2020

  • Structure of the distribution channel

5. Key income trends

  • GCC Region Light Vehicle Aftermarket Revenue Forecast 2021 by Country

  • GCC Region Light Vehicle Aftermarket Revenues

  • GCC Region Light Vehicle Aftermarket Revenue Forecast by Countries

  • Revenue Forecast of GCC Region Light Vehicle Aftermarket by Product Type

6. Key predictions for 2021

  • Key trends in the light vehicle aftermarket in GCC countries in 2021

  • Prediction 1: Decentralization of the supply chain

  • Predictions 2-4: Digital penetration in service, online aggregators and door-to-door service

  • Prediction 5: Cheaper Alternatives

  • Prediction 6: Growing used car market

  • Prediction 7: Electric vehicles

  • Prediction 8: Car sharing on the rise

7. Sectoral outlook, 2021

  • Market Snapshot 2021

  • Vehicles in operation * Analysis and forecast

  • Analysis of vehicles in operation * – Vehicle age

  • New vehicle sales analysis and outlook *

  • Revenues of the light vehicle aftermarket industry of GCC countries

  • Outlook 2021 Segment – Genuine Parts / OES

  • 2021 Segment Outlook – Genuine Parts

  • 2021 Segment Outlook – Branded Spare Parts

  • Outlook 2021 Segment – Parallel Imports

  • Sectoral outlook 2021 – Counterfeits

  • Diagnosis of the aftermarket for light vehicles in GCC countries – Companies to watch

  • Main growth opportunities for 2021-2025

8. 2021 country predictions

  • Predictions 2021 – Kingdom of Saudi Arabia

  • Predictions 2021 – United Arab Emirates

  • Predictions 2021 – Qatar

  • Predictions 2021 – Oman, Bahrain and Kuwait

9. Universe of growth opportunities

  • Growth Opportunity 1: Online Car Service for Safety and Convenience

  • Growth Opportunity 2: Affordable IAM Parts for Higher Price Sensitivity

  • Growth Opportunity 3: Used Car Service

10. Main conclusions

11. Annex

For more information on this report, visit https://www.researchandmarkets.com/r/492pf7


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