Dubai PR Network, Online Press Release from Dubai and Middle East
Filter PR by
  
African Auto Parts Market For Passenger Vehicles Valued At US$ 7.68 Billion In 2013, Ex-pected To Double In Size By 2020 – Expert

The African auto parts market for passenger vehicles is emerging as one of the UAE’s most important re-export markets, growing more than 11 per cent year-on-year, and estimated to be worth US$7.68 billion* in 2013, an expert has said today.

Subhash Joshi, Industry Manager for Automotive Practice at Frost & Sullivan, said that on the back of double-digit growth of demand in key Sub-Saharan countries, the value of the Africa’s auto parts market is likely to double by 2020.

“Countries such as Nigeria, Kenya, Uganda, Ghana, have witnessed double digit growth in demand of parts in the past five years,” said Joshi, who was speaking about the key trends impacting the future growth the African automotive industry at the Automechanika Academy, a two-day summit running along the sidelines of Automechanika Dubai 2014.

“The UAE is known to be a major re-exporter of spare parts throughout the Gulf and wider Middle East, but now Sub-Saharan African countries such as Nigeria, Angola, Congo Republic, and North African countries such as Libya are gaining importance.

“These countries are becoming larger markets that cover about 30-35 per cent of total exports from the UAE and in three to four years, the market share for the African region will rise to 45-50 per cent.”

Concluding tomorrow (Thursday 5 June) at the Dubai International Convention and Exhibition Centre, the Automechanika Academy features a series of leading automotive experts giving their insights on key trends and developments in the industry today.

Focusing on the tremendous opportunities of doing business in the fast-emerging African market, Joshi said that there are more than 21.6 million cars on the continent’s roads, while Egypt, Algeria, Morocco and Nigeria currently make up nearly 70 per cent of spare parts consumption.

However, the region still has its challenges. “The African market is unstructured and the share of non-genuine parts is the biggest challenge to the automotive aftermarket in this region,” added Joshi.  “Political issues, credit policies, and business sustainability related issues also impact the market, but these are mostly limited to Central Africa.”

Despite this Joshi held that the future outlook remained bright for those exporting to Africa, with the best opportunities existing in Kenya, Angola, Uganda, Nigeria and Ghana.

The final day of the Automechnanika Academy includes an in-depth look at the current trends in the global tyre industry by Surender Singh Kandhari of Al Dobowi Group, a presentation on off-road tyre challenges by V. Krishnaram of Emerald Tyres and a presentation of integrating in-car entertainment systems.

Organised by Epoc Messe Frankfurt, Automechanika Dubai is the region’s largest international trade gathering for the automotive aftermarket, featuring 1,695 exhibitors from 59 countries. Concluding on Thursday 5 June, the three-day event focuses on the following key areas: Parts & Systems; Accessories & Tuning; Repair & Maintenance; Tyres & Batteries and Service Station & Car Wash.

 

Posted by : BIZ COM - For Proactive Communications,
Viewed 36539 times
PR Category : Automobile
Posted on : Wednesday, June 4, 2014  4:11:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to BizCom PR

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Mitch Evans Looks For Another Italian Triumph As Formula E Descends On Rimini Debut - Wher... [18249-Views]
Oliver rowland wins misano e-prix opener after antonio felix da costa disqualification [15313-Views]
Khabib's Official Training Gloves Will Be Sold at Tooba Charity Auction in Dubai [14301-Views]
Victory for Pascal Wehrlein after last Lap Heartbreak for Rowland [13563-Views]
Formula E and FIA to unveil new gen3 evo race car at upcoming monaco E-prix [9733-Views]
The Tortue Watch: A Perpetually Reinvented Timepiece [7581-Views]
Henry Jacques launches Collection de l'Atelier [7396-Views]
Tag Heuer Monaco Split-Seconds Chronograph: Watches & Wonders 2024 [7351-Views]
South Indian Cinema Megastars Rana Daggubati, Rockstar DSP Akul Balaji, Vijay Raghavendra,... [6753-Views]
Mansour bin Mohammed congratulates Hamdan bin Mohammed on the Qatar-UAE Super Shield crown [6732-Views]
Sivakov takes final stage of Giro D'Abruzzo [5847-Views]
Nikai unveils next-generation Google TVs redefining home entertainment [5650-Views]
Goodbye to the Grrr-Eight One: Jeep® Brand Announces 2024 Wrangler Rubicon 392 Final Editi... [5289-Views]
Abt Joins Forces With Lola And Yamaha For Formula E's Ground-Breaking Gen3 Evo Era [5195-Views]
Jan Christen takes first professional victory at Abruzzo [4662-Views]
Swiss International School Dubai students get seven-star work experience at Burj Al Arab [4576-Views]
Turkish Airlines closes 2023, carrying 83.4 million passengers with a 23.5% increase in do... [4572-Views]
MoHAP lights up UAE landmarks in blue to mark World Health Day. [4428-Views]
Heritance Aarah Maldives: Your Summer Culinary Getaway [4399-Views]
World Future Energy Summit Opens with Collective Call for Collaboration on ‘Pathway to 1.5... [4354-Views]
Hitachi Energy unveils cutting-edge solutions at Middle East Energy 2024 [4244-Views]
UAE Participates in 2024 Spring Meetings of IMF and WBG [4178-Views]
AUS secures top spots in academic and employer reputation in UAE, announces QS World Unive... [4125-Views]
Zone in with oakley® latch panel: Take Control Of The Chaos With New Lifestyle Sunglasses [4125-Views]
Kia wins prestigious 2024 Car Design Award for Brand Design Language with ‘Opposites Unit... [4038-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories