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:
- Car Dealerships:
- AJL
- Yusuf Naghi
- Juffali
- UMA
- Spare Parts Retailers:
- Speero
- Atlobha
- Odiggo
- Ubuy
- 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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The post 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 appeared first on Ken Research.
