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Saudi Arabia spearheads GCC demand for commercial vehicle spare parts – market estimated to value US$3.65 billion by 2020

Dubai, UAE: Manufacturers and distributors of the GCC’s automotive aftermarket gathered in Dubai today to discuss new opportunities in the region’s commercial vehicle (CV) market, as Saudi Arabia spearheads a regional surge in demand for CV spare parts and services.

According to global analysts Frost & Sullivan, there are currently 750,000 trucks and buses on Saudi Arabia’s roads, with this number growing 8.4 per cent annually to reach 1.2 million by 2020.

The influx of new and used commercial vehicles in the Kingdom means demand for spare parts is also on the rise, valued at US$2.05 billion in 2014, and estimated to reach US$3.65 billion by 2020, according to Frost & Sullivan.

The key to tapping into the Saudi Arabia’s lucrative CV market was the hot topic at the 5th Automechanika Dubai Network, attended by more than 90 industry figures of the region’s automotive aftermarket.

“Sales of commercial vehicles are on an upward drive in the Gulf region, with Saudi Arabia at the forefront of increased opportunities for the lucrative CV spare parts market,” said Ahmed Pauwels, CEO of Messe Frankfurt Middle East, organiser of Automechanika Dubai and today’s network event.

“Saudi Arabia and the UAE are already home to vehicle assembly lines for major manufacturers such as Mercedes, Volvo, and MAN in Saudi, and Scania and Ashok Leyland in the UAE, so the market is really beginning to take shape.”

Subhash Joshi, Regional Head of Automotive & Transportation for the Middle East & North Africa at Frost & Sullivan, and a speaker at the Automechanika Dubai Network, said that Japanese CV brands are in high demand in the Kingdom.

“In terms of market share, Isuzu and Mitsubishi have led the light commercial vehicle market with a whopping 70 per cent share with limited imports of used trucks in this category,” said Joshi.  “For the medium and heavy commercial vehicle segment, the dominance of used vehicles was much higher when compared to light vehicles.”

The increased focus on commercial vehicles is one of the main features of Automechanika Dubai 2015, which takes place from 2-4 June at the Dubai International Convention and Exhibition Centre.

The three-day event is the Middle East and Africa’s largest trade show for the automotive aftermarket, and has a dedicated Truck Competence section.  In 2014, 506 of the 1,696 exhibitors had truck competence within their portfolio, with this figure set to grow this year.

Expanding the extensive Automechanika brand profile, Truck Competence covers the entire value chain in the truck sector from truck parts and accessories, to workshop equipment, body repairs and care.

Among the headline international exhibitors with truck competence within their portfolio include WABCO from Belgium; Schaeffler, MS Motorservice, Wulf Gaertner Autoparts, BPW, Jost, ZF, and Herth+Buss from Germany; Asuki Automobile Industries from Singapore; AMP Automotive from Brazil; and AFA Industries from the USA.

Regional powerhouses out in force include Moshref Trading from Iran; NASCO Automotive from Jordan; and UAE-based companies Dynatrade, Europart, Global Autoparts, Al Rostamani, and Al Habtoor.

AFA Industries, a manufacturer and supplier of commercial vehicle and heavy duty engine components, will be promoting its range of Cummins and Detroit Diesel Series 60 engine parts in the USA Pavilion at Automechanika Dubai 2015. They will also be launching their Caterpillar engine parts for 3300, 3400, and C15 series engines.

Sami Aboufawaz, President of AFA Industries, said the Middle East and Africa is a big growth market for US-based organisations, with the company looking to expand its product lines to gain sizeable market share in the region.

“The Middle East and African commercial vehicle and heavy duty aftermarket is extremely important for AFA Industries,” said Aboufawaz.  “We have conducted extensive research and development to prepare AFA to be a leading supplier in the Middle East, and Automechanika Dubai gives us the platform to expand on our existing presence in the region, and to secure distributors to better serve the market.”

The Automechanika Dubai Network is a regular feature of Automechanika Dubai, which is now in its 13th edition, with Frost & Sullivan on board as an official Knowledge Partner.

Automechanika Dubai 2015 features six core areas including Parts & Components, the largest section; Electronics & Systems; Accessories & Tuning; Repair & Maintenance; Tyres & Batteries and Service Station & Car Wash.

Returning is the highly-popular Automechanika Academy – a series of seminars and workshops given by leading experts and prominent industry figures. These seminars will focus on key issues that affect the automotive aftermarket.

The global appeal of Automechanika Dubai 2015 will be reinforced with the presence of 22 country pavilions and 37 international trade associations, while nearly 90 per cent of exhibitors will come from outside of the UAE.

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 14333 times
PR Category : Automobile
Posted on : Tuesday, March 17, 2015  6:09:00 PM UAE local time (GMT+4)
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