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Consumption in GCC automotive aftermarket reached OR 2.9 billion in 2012

At OR 182 million, Oman is significant consumer market

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 OR 2.9 billion (US $7.54 billion) in 2012. With consumption worth OR 182 million (US $473 million) last year, Oman is one of the significant markets in the GCC.*

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 OR 1.73 billion (US $4.51 billion). Tyres and Inner Tubes were the next most significant category of the aftermarket consumption pie, being worth OR 573 million (US $1.49 billion) in 2012. Lubricants and Batteries made up the next biggest sectors, being worth OR 314.11 million (US $816 million) and OR 275.23 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 the Parts and Accessories, Lubricants and Batteries would growth 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 edition will be held from June 11 to 13, at the Dubai International Convention and Exhibition Centre.

* Only includes Light Vehicles (Passenger Cars, UVs and Pick Ups up to 3 ton GVW); only includes replacement parts, does not include any accessories

** The forecast period is 2013 – 2017, where base year is 2012
-ENDS-

 

Posted by : BIZ COM - For Proactive Communications,
Viewed 13914 times
PR Category : Automobile
Posted on : Thursday, April 11, 2013  3:40:00 PM UAE local time (GMT+4)
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