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
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