Accelerating Forward: Over 100,000 Car Plates Issued in 2022 in KSA Automotive Market, Propelled by Vision 2030 - What's on the Horizon for Saudi Arabia's Auto Industry?: Ken Research

 The Automotive Market in KSA is moderately fragmented with highly competitive rivalry among the competitors. Some of the popular Automotive brands like Petro Min, Saudi Parts Center Company and Atlobha compete on the basis of Price, Technology Advancement and Strong Acquisitions.

1. Driving Ahead: Growth in Driving Licenses and Registered Cars across All Regions in Saudi Arabia with the Inclusion of Women Drivers.

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• Makkah, Al-Riyadh & Eastern provinces accounts for the highest used & new vehicle sales in the Kingdom due to high population levels & influx of tourism all year around.
• Increasing monthly income in regions such as Al- Baha, Jazan, Al- Jowf, Al- Qasim & more highlighting the potential for higher demand for automobiles in the future.
• Since the restriction was lifted in 2018, more driving licenses have been issued to women.
• Northern borders only receive seasonal tourists due to hill stations, leading to a small number of registered vehicles.
• The Eastern province enjoys the benefit of ports & industrial growth, leading to the highest average household income & car plates issued.

2. Electrifying the Future: How Saudi Vision 2030 and the Saudi Green Initiative are Boosting Vehicle Electrification for Economic Diversification and Sustainability.

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Even though internal combustion engine (ICE) vehicles remain the dominant force in the Saudi Arabia (KSA) automotive market, there is still a significant opportunity for electric vehicle (EV) producers. Original Equipment Manufacturers (OEMs) are actively investing in improving the efficiency of their vehicles and offering competitive range options. The focus of both OEMs and the KSA government is on electrification, with ambitious targets set to reduce carbon emissions by 20%-40% by 2030. The increasing consumer awareness, shifting perception towards environmentally-friendly transportation, and growing environmental concerns will be the driving factors behind the growth of EVs in KSA.

3. Revolutionizing Customer Service: Innovative Solutions and Quick Service Models to Tackle High Downtime Challenges in the KSA Automotive Market.

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Time Period Captured in the Report:

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

Companies Covered:

1. Car Dealerships:

• AJL
• Yusuf Naghi
• Juffali
• UMA

2. Spare Parts Retailers:

• Speero
• Atlobha
• Odiggo
• Ubuy

3. Car Repair Service Centers:

• Petromin
• Auto Focus

For more insights on market intelligence, refer to the link below: –

KSA Automotive Market Outlook to 2027

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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

Related Reports by Ken Research:-

Egypt Automotive Aftermarket Service Industry Outlook to 2027

UAE Automotive Aftermarket Service Industry Outlook to 2026