Market value of vehicle spare parts in the Middle East by region 2015-2020

Across the Middle East, the Gulf Cooperation Council region had the highest market value of automotive spare parts amounting to approximately seven billion U.S. dollars in 2015, and it was forecasted to reach almost 10 billion U.S. dollars in 2020. It was followed by Iran where automotive spare parts had a market value of about 4.7 billion U.S. dollars in 2015, and it was forecasted to reach almost six billion U. S. dollars in 2020.

Automotive spare parts market in the Middle East

The supply channel of vehicle spare parts in the Middle East was dominated by genuine parts at a market share of about 35 percent in 2015, followed by branded after market parts. The majority of spare part automotive aftermarket sales in the Middle East in 2018 were electrical components, radiators, and exhausts.

Vehicles industry in the Middle East

Within the Middle east, the vehicles market has increased overall over the years. Saudi Arabia had by far the largest number of vehicle sales within the GCC in 2018. As vehicle manufacturing facilities in the Middle East are not very well developed, the region is highly dependent on importing vehicles. During 2018, Toyota, a Japanese automotive manufacturer, was the leading vehicle brand in Saudi Arabia, holding the highest market share. However, initiatives are being taken to advance the region’s own vehicle manufacturing industry.