Saudi Arabia Exterior Car Accessories Market Research Report, 2028

Saudi Arabia Exterior Car Accessories Market Research Report, 2028

Actual Market Research 28-02-2023 50 Pages Figures : 4 Tables : 16 Region : MEA Country : Saudi Arabia Category : Automotive & Transport Automotive Parts

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Saudi Arabia has one of the region's most promising and fastest-growing automobile markets. The Saudi automobile industry benefits from a variety of factors, including labour availability, R&D efforts, geographic advantage, and government support. With a positive economic Research Report and increased household purchasing power, the country's automobile sales are expected to skyrocket by 2028. The modern automotive industry in Saudi Arabia is being shaped by rising adoptions of electric vehicles and rising demand for advanced safety, connectivity, convenience, and driver assist features. The automotive industry in Saudi Arabia has grown significantly in recent years, driven by a combination of government initiatives, economic growth, and the country's love of cars. Saudi Arabia is the largest market for cars in the Middle East, with millions of vehicles on the road and a thriving industry that includes both local and international manufacturers. The history of exterior car accessories in Saudi Arabia is not well documented, but it is likely that these accessories have been popular among car enthusiasts and consumers for many years. As in other parts of the world, car ownership is an important status symbol in Saudi Arabia, and many people are willing to invest in customizing their vehicles to make them stand out on the road. In recent years, the market for exterior car accessories in Saudi Arabia has grown significantly, driven in part by the country's growing economy and the increasing popularity of car culture. According to the research report, “Saudi Arabia Exterior Car Accessories Market Research Report, 2028” published by Actual Market Research, the market was valued at more than USD 1 Billion in 2022. The country's Vision 2030 plan aims to diversify the economy away from oil and gas and create new industries and job opportunities, is one of the key drivers of the Saudi automotive industry. The government has made significant investments in the automotive sector as part of this plan, including the establishment of several new factories and production facilities. Saudi Arabia is also home to several major international automakers, including General Motors, Ford, and Volkswagen, in addition to these investments. These companies have set up manufacturing plants in the country to serve both the domestic market and export markets in the Middle East and beyond. Along with these large-scale manufacturers, Saudi Arabia has a thriving aftermarket industry, fuelled in part by the country's love of car customization and personalization. Many local and international companies sell aftermarket parts and accessories for a wide range of vehicles, including luxury cars and pickup trucks. Overall, Saudi Arabia's automotive industry is an important part of the country's economy and culture, with a wide range of companies and products serving both domestic and international markets. As the country grows and develops, the automotive industry is likely to play an increasingly important role in its future. Saudi Arabian people are enthusiastic about exterior car accessories and enjoy customizing their vehicles to make them stand out on the road. Car ownership is an important status symbol in Saudi Arabia, and many people are willing to invest in accessories and modifications to personalize their vehicles. Some of the most popular exterior car accessories among Saudi Arabian car enthusiasts include chrome accents, aftermarket wheels, body kits, spoilers, and custom paint jobs. Many people also choose to add LED lighting or window tinting to their vehicles for a more customized look. The demand for lightweight materials is rapidly increasing in response to the growing desire to improve fuel efficiency. To reduce the overall weight of passenger cars, manufacturers in Saudi Arabia are using lightweight materials such as high-strength steel and thermoplastic in the production of passenger car accessories. Lightweight materials improve passenger car driving performance, lowering pollution and fuel costs. Exterior car accessory manufacturers are making investments to maximize the use of lightweight materials, which is expected to create massive growth opportunities for Saudi Arabia exterior car accessories market in the forecast period. Based on the accessories type, body kit is dominating the market in 2022. However, that there are some restrictions on the types of modifications that are allowed on vehicles in Saudi Arabia. For example, window tinting is strictly regulated and can only be done within certain limits, and modifications that are deemed to be unsafe or that significantly alter the appearance of the vehicle may not be allowed. Despite these regulations, the market for exterior car accessories in Saudi Arabia continues to thrive, with a wide range of products and services available to meet the needs and preferences of car owners throughout the country. The Saudi Arabia exterior car accessories market is segmented into OEM and aftermarket. The majority of exterior car accessories are sold through the aftermarket channel. Aftermarket suppliers in Saudi Arabia offer a wide range of exterior car accessories, including body kits, spoilers, custom wheels, lighting upgrades, and much more. These accessories are typically designed to be compatible with a wide range of vehicles, and they often provide consumers with a more affordable alternative to the accessories offered by OEMs. OEMs in Saudi Arabia also offer a range of exterior car accessories, but these accessories are typically designed to be used exclusively with the vehicles produced by that manufacturer. While these accessories may be of higher quality and may offer a better fit than aftermarket accessories, they can also be more expensive and may not offer the same level of customization as aftermarket accessories. The market for exterior car accessories in Saudi Arabia is quite diverse, with a wide range of options available to consumers from both OEM and aftermarket suppliers. However, due to the lower cost and wider range of options, the majority of consumers in Saudi Arabia choose to purchase their exterior car accessories from aftermarket suppliers. The Saudi Arabian government has implemented a number of regulations and standards related to the sale and installation of exterior car accessories in the country. These regulations are designed to ensure that any modifications or additions made to vehicles meet certain safety and quality standards and do not pose a risk to other drivers on the road. For instance, the Saudi Arabian government strictly regulates the amount of tint that is allowed on car windows, with the maximum allowable limit being 30%. Any window tinting that exceeds this limit is considered illegal and can result in fines or other penalties. Any modifications to a vehicle's lighting system must be done in accordance with the Saudi Arabian Standards Organization (SASO) regulations, which dictate the types of bulbs, colors, and intensity levels that are allowed. Further, the Saudi Arabian government also regulates the types of body modifications that are allowed on vehicles, with restrictions on the height of the vehicle, the width of the tires, and the size and placement of any spoilers or other exterior features. Any modifications to a vehicle's exhaust system must also be done in accordance with SASO regulations, which dictate the types of exhaust systems and mufflers that are allowed. Some of the major manufacturers for exterior car accessories across the country are Saudi American Glass Company (SAGCO), Al-Rashed Fasteners, Al-Mazrooei Trading Company, Al-Abdul Karim Holding and Aljomaih Automotive Company. Considered in this report • Geography: Saudi Arabia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Saudi Arabia Exterior Car Accessories market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Accessories Type: • Body Kits (Front and Rear Bumper Kits, Spoilers, Lip Kit, Front Grille, Tuning Hoods, etc) • Exhaust Muffler • Lights • Alloy Wheels • Chrome Accessories • Window Films • Graphic Stickers & Reflectors • Racks • Others (Crash Guards, Side Beading, Window Door Visors, License Plate Frames, Exterior Covers, Side Mirror Covers, etc) By Distribution Channel: • OEM • Aftermarket The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Exterior Car Accessories industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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