Increasing automobile fleet,
expansion of automotive and allied industry along with early economic recovery
to boost Middle East auto components market through 2024
According
to TechSci Research report, “Middle East Auto Components Market By Vehicle Type, By
Component Type, By Demand Category, By Country, Competition Forecast &
Opportunities, 2024”, Middle East auto components market is
projected to cross reach around $ 40 billion, by the end of 2024. The growth in
the market is led by rising automotive fleet and favorable economic condition of
region owing to stability in crude oil prices. Moreover, removal of ban over
the female drivers in some countries of the Middle East region, rising demand
for vehicle modifications and automotive vehicle launches are further likely to
aid the growth of Middle East auto components market. Additionally, increasing infrastructural
and constructional activities are anticipated to positively influence Middle
East auto components market over the next five years.
Browse 58 market data Tables and Figures spread through 95 Pages and
an in-depth TOC on "Middle East Auto Components Market
Customers
can also request for 10% free customization on this report.
Among
vehicle types, passenger car dominates Middle East auto components market on
the back of large demand for passenger cars and increasing purchasing power of
customers. On the basis of components, Middle East auto components market is
segmented into Filter, Lubricant, tire, brake component, battery
and others. Of all, automotive filters dominated the market with over
16% share in 2018, on account of lower replacement cycle, high usage in
vehicles and low cost.
“Increasing investments in the automotive and
allied sector in the Middle East region are likely to show optimistic growth of
auto components in the region. Moreover, rising presence of various companies
such as Bridgestone Middle East & Africa
FZE, Michelin AIM FZE, Goodyear Middle East FZE, The Yokohama Rubber Co. Ltd.,
ACDelco Middle East & Africa, Amaron Batteries, etc., and
their continued operations in the Middle East auto component market is
anticipated to intensify competition in the market over the next five years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Middle East Auto
Components Market By Vehicle Type, By Component Type, By Demand Category, By
Country, Competition Forecast & Opportunities, 2024” has analyzed the potential of auto
components market across Middle East region, and provides statistics and
information on market sizes, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyses emerging trends along with essential drivers and key challenges
faced by Middle East auto component market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
No comments:
Post a Comment