Recent market figures show that demand for automobiles and auto components continues to grow at an impressive rate across the region. The increasingly attractive automotive aftermarket in the region is drawing enormous interest from international manufacturers and suppliers who see it as an opportunity to increase market presence.
This was announced by Epoc Messe Frankfurt, organiser of Automechanika Dubai 2014, the largest international trade gathering for the automotive aftermarket in the wider Middle East.
Analysis from research firm Frost & Sullivan estimates that the replacement market for auto parts, tyres and batteries in the GCC is expected to double in size by 2017 over 2012 levels. The report estimates that demand for parts, batteries and tyres would be worth US$ 13.46 billion in 2017 as compared to $ 6.73 billion in 2012 with a CAGR of 14.9 per cent.
Passenger vehicles accounted for a majority of this trade, comprising 80% of the market in 2012 at US $5.36 billion. This trend is expected to continue with demand for passenger vehicle components set to reach US $11 billion by 2017. Saudi Arabia and UAE comprise the bulk of the GCC aftermarket, together representing 82.8% of total demand while Kuwait is the third largest market in the region.
Given current market indicators, Automechanika Dubai 2014 is set to log another standout run, building further on the record setting 2013 edition. Early reports indicate strong interest from international exhibitors looking to leverage the power of the Automechanika brand to engage with Middle East buyers and decision makers.
“Dubai continues to be the focus of a flourishing aftermarket trade serving as it does as a prominent import and re-export destination,” said Ahmed Pauwels, CEO of Epoc Messe Frankfurt. “With its geographical and logistical advantages, Dubai will continue to be in the forefront of driving trade in a quick-growing market. Automechanika Dubai, with its deep familiarity with the reigon and long years of association with the trade, will continue to offer international exhibitors one of the most effective means to access and interact with the local market, ” he added.
Automechanika Dubai which attracted 24,141 trade visitors and buyers last year and featured 1,481 exhibitors, enjoys a reputation for being an unmatched business networking and facilitating platform for the region. A wide range of international brands have made their regional debut at Automechanika Dubai over the years and the exhibition has witnessed deals and tie-ups as well as the beginnings of many a lucrative partnership.
Automechanika Dubai features the following product groups as its main focus areas: Parts & Systems; Accessories & Tuning; Repair & Maintenance; Tyres & Batteries and Service Station & Car Wash.
The 2014 edition, which will take place from June 3rd to 5th will also feature the popular Automechanika Academy – a series of seminars and workshops given by leading experts and prominent industry figures. These seminars will focus on key issues that affect the automotive aftermarket in the region.