Ignite Your Engines: Explore how the Tech Trends will Shape the Automotive Industry in KSA! : Ken Research

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With a strategic roadmap to reduce oil dependency and curb imports, KSA is stepping on the accelerator to rev up domestic manufacturing and turbocharge industrial development. With a notable decline in import volume during the period of 2016-2021, KSA's government initiatives to build in-house manufacturing capabilities have been gaining traction. As a result, the automotive industry in KSA is experiencing a remarkable growth ride.

Curious to delve deeper into the exciting journey of KSA's automotive market? Read more to uncover the key growth drivers that are sculpting the future of the industry. Discover the strategies, innovations, and potential that lie ahead.

1. To reduce dependence on oil & imports, KSA has made a Strategic framework to develop domestic manufacturing & facilitate industrial development

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2. As a result, Industrial clusters and the private sector are increasingly investing in the production of advanced mobility materials and vehicle parts

3. Four Key Trends are Re-Shaping the Automotive Industry with Serious Implications on OEMs and Suppliers in KSA

4. Further, Huge export opportunities are available in KSA with the establishment of the automotive industrial clusters, helping in filling demand in Africa & other GCC countries as well

Some of the Intelligence Curated by Ken Research in Automotive Market Space:

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• USA EV & EV Charging Equipment Market Outlook to 2027 Driven by growing market driven by government support and customer drive towards cost-efficient mobility
• Global Used Vehicle Market Outlook to 2027 Driven by Type of Market Structure, by Type of Vehicle, by Age of vehicle, by kms Driven and by Region
• Vietnam Car Rental Market Outlook to 2027F Driven by Increasing Internet Penetration Rate, Tourism and Urbanization

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KSA Automotive Market

KSA Automotive Market Sells Over 600,000 Cars in 2022 with a Blend of Imports and Domestic Production. What's Next for the Future of the Industry? : Ken Research

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Automotive Industry in KSA has shown growth of CAGR of 3.5% during 2017-2022, says a report by Ken Research

1. Rebounding Strong: How Rising Consumer Sentiments Since the 2014 Oil Price Crisis are Driving a Resilient Economy Focused on Local Manufacturing and Efficient Digitization.

To know Demographics of KSA Citizens Supporting Automotive Industry: Click Here

• A stable political environment under the current King & Crown Price. Saudi Vision 2030 launched under their leadership also provides a positive boost for investors.

• Saudi Vision 2030 & the aim to reduce dependence on oil exports. Further investment by government into domestic manufacturing & assembly of automotive. Support from the government and development of automotive & spare part clusters to boost re exports & international sales.

• Influx of female drivers stimulating demand for new & used vehicles leading to high vehicle ownership and rising propensity to spend.
• Rising adoption of technologies such as WMS, VMS, RFID & GPS Tracking by Dealerships & car service centers to improve operational efficiency.

• The harsh & hot climatic conditions of the Kingdom warrant frequent replacement periods of auto spare parts.
• Lifting of ban on women drivers creating a favorable environment for the growth of automotives.

2. Gateway to the Kingdom: Jeddah Islamic and Dammam Ports Leading Imports with Easy Connectivity and Advanced Infrastructure Development.

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3. Building for the Future: Saudi Vision 2030's Drive for World-Class Domestic Manufacturing and Export Facilitation in the MENA Region.

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Major Players Mentioned in the Report:

Car Dealerships:

• AJL
• Yusuf Naghi
• Juffali
• UMA

Spare Parts Retailers:

• Speero
• Atlobha
• Odiggo
• Ubuy

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Car Repair Service Centers:

• Petromin
• Auto Focus

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

• KSA Car Dealerships
• KSA Automotive Industry
• KSA Automotive Workshops
• KSA Spare Parts Retailers
• KSA Automotive Logistic Service Providers
• KSA Car Rental Players
• KSA Car Leasing Players
• KSA ERP Service Providers
• KSA Ports Authority

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

KSA Automotive Market

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