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Consumption In GCC Automotive Aftermarket Reached KD 2.14 Billion In 2012 Kuwait Is Third Largest GCC Consumer At KD 200 Million

The countries of the Middle East continue to be an extremely attractive market for the automobile sector, thanks to strong ongoing economic growth and a flourishing aftermarket trade.

In a recent report, research firm and Knowledge Partner of Automechanika Dubai, Frost & Sullivan, estimated that the total consumption within the automotive aftermarket in the GCC countries reached as much as KD 2.14 billion (US $7.54 billion) in 2012. With consumption worth KD 200 million (US $701 million) last year, Kuwait was the third most significant consumer market within the automotive aftermarket in the GCC, after Saudi Arabia and the UAE.*

Ahmed Pauwels, CEO of Epoc Messe Frankfurt, organiser of Automechanika Dubai, the region's largest trade platform for the automotive aftermarket, said: “Thanks to its superior transport and logistics infrastructure, the region serves as a key import and trans-shipment hub for the aftermarket trade that reaches across the wider hinterland in the MENA region, Iran and Central Asia, South Asia and Eastern Africa.”

“Automechanika Dubai will highlight the vast potential of the regional market that is still untapped and showcase new trade and business development opportunities that exist for key industrial players,” Pauwels added.

According to the Frost & Sullivan report, Parts and Accessories make up the lion's share of the consumption, totaling KD 1.28 billion (US $4.51 billion). Tyres and Inner Tubes were the next most significant category of the aftermarket consumption, being worth KD 425 million ($1.49 billion) in 2012. Lubricants and Batteries made up the next biggest sectors, at KD 232.9 million (US $816 million) and KD 204 million (US $715 million) respectively last year.

Going forward, the aftermarket is expected to maintain a healthy rate of growth, with Frost & Sullivan estimating that Parts and Accessories, Lubricants and Batteries would grow at a CAGR of around 13% between 2012 and 2017, while consumption of Tyres and Inner Tubes would keep pace with a CAGR of 12% over the same period.**

Mr. Jean-Michel Selles, Managing Director of KYB Middle East, said: “Automechanika Dubai is a very significant part of our business development strategy in the Middle East thanks to its wide footprint in the region. We expect favourable results from our participation this year.”

Mr. Nantha Kumar, Senior Division Manager of Dynatrade, said: “We have been a part of Automechanika Dubai for quite a while now and have seen the exhibition grow into a notable international event. The regional automotive aftermarket trade will benefit from such an authentic parts exhibition.”

With more than 1,324 exhibitors and over 20,700 trade visitors in 2012, Automechanika Dubai serves as a vital trading link to markets difficult to reach. The trade fair is widely reputed as a great platform to learn more about new products, find new suppliers and compare product alternatives. Automechanika Dubai spotlights the latest products and solutions in the fields of parts, systems, tuning, workshop equipment, bodywork & paintwork, car wash, IT & management and the latest automobile services.

Automechanika Dubai 2013 will be held from June 11 to 13, at the Dubai International Convention and Exhibition Centre.
-ENDS-

 

Posted by : BIZ COM - For Proactive Communications,
Viewed 8076 times
PR Category : Others
Posted on : Wednesday, April 10, 2013  10:44:00 AM UAE local time (GMT+4)
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