Dublin, Aug. 10, 2021 (Globe NEWSWIRE) — The “GCC Light Car Aftermarket Outlook, 2021” report has been additional to ResearchAndMarkets.com’s providing.
This outlook examine analyzes and forecasts the enhancement of GCC countries’ mild car aftermarket from 2021-2025 less than several potential trends and macroeconomic forces. It gives forecasts for aftermarket income (which includes by region, solution type, and section), profits, and automobiles in operation.
In 2020, the Gulf Cooperation Council (GCC) region confronted sizeable challenges thanks to the COVID-19 pandemic and oil price tag crash. Gross domestic merchandise (GDP) in GCC nations contracted by 5%-10% in 2020. The GCC population dropped by 3%-5% owing to expatriate exodus. Each marketplace and sector confronted a number of disruptions.
The GCC light-weight motor vehicle aftermarket also advanced because of to a sector demand from customers decline as car or truck miles traveled (VMT) decreased, the offer chain was disrupted, and new business enterprise styles (these as doorway-to-door assistance) emerged to provide the industry in the new usual.
For the duration of an economic restoration, price-effectiveness is a prime invest in choice variable. For example, soon after setting up partnerships with 2 on the web platforms, a tiny, 6-yr-previous garage in Dubai grew by 30% in H2 2020 by providing more cost-effective services contracts focusing on American cars to earn over consumers from seller provider facilities nearby China-built auto tires in Kuwait attained marketplace share from 38.% in 2014 to over 50.% in 2020. Total, the marketplace witnessed a development of unbiased aftermarket makes overtaking the unique equipment (OE) manufacturers in 2020.
With the economic diversification and enhancement of non-oil industries, the GCC region’s financial state is envisioned to get well and grow from 2021 onward. Nationwide techniques in GCC international locations, such as Saudi Vision 2030, Qatar 2030 and UAE 2030, are projected to be key very long-phrase growth motorists.
World functions like Expo 2020 Dubai (rescheduled to Oct 2021) and the 2022 FIFA Entire world Cup in Qatar are very likely to bring in millions of readers to the location and trigger a demand surge in a number of industries, such as the mild car or truck aftermarket.
Dubai’s attempts in developing a wise sustainable metropolis incorporate the Linked, Autonomous, Shared, Electric powered (Scenario) mobility strategy in the automotive sector. Innovation dealers use connective technology to document automobile standing remotely and assistance drivers e-book routine maintenance appointments. Various vehicle-sharing start-ups in the region have main expansion plans in 2021, both for business-owned fleets or peer-to-peer sharing.
Electrical vehicles adoption is also developing in GCC international locations, with Dubai registering the greatest adoption at this time. With mobility know-how developing, the provider market is expected to see several new industry dynamics with the mobility industry’s advancement.
Critical Matters Lined:
1. Government Summary
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2020-2021 Crucial Highlights
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Influence of COVID-19 on the GCC Nations around the world Light Auto Aftermarket in 2020
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2020 GCC Light Automobile Aftermarket – Actuals vs Forecast
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GCC Nations Light-weight Motor vehicle Aftermarket Earnings
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GCC Light-weight Vehicle Aftermarket Profits by Phase
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COVID-19 Impact on Mild Vehicle Global Gross sales
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Influence of COVID-19 on the GCC Mild Car or truck Aftermarket
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Prime Predictions for 2021
2. The Strategic Critical
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Why is it Progressively Challenging to Grow?
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The Strategic Crucial
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The Effect of the Best A few Strategic Imperatives on the GCC Mild Motor vehicle Aftermarket
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Development Chances Gas the Growth Pipeline Engine
3. Progress Setting and Scope
4. Macro Financial Variables
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2021 GCC Area Financial Outlook – Prime Predictions
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GCC Region – Demographic Highlights
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Center East – Critical Financial Developments
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Laws Set to Enjoy a Major Role in the GCC Mild Vehicle Aftermarket Beyond 2020
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Distribution Channel Framework
5. Essential Profits Traits
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2021 GCC Location Mild Car or truck Aftermarket Income Forecast by Place
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GCC Region Gentle Car Aftermarket Earnings
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GCC Region Light-weight Car or truck Aftermarket Profits Forecast by Region
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GCC Location Light Car Aftermarket Income Forecasts by Solution Form
6. Vital Predictions for 2021
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Vital 2021 GCC Countries Gentle Car or truck Aftermarket Traits
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Prediction 1: Provide Chain Decentralization
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Predictions 2-4: Electronic Penetration in Services, On line Aggregators, and Doorway-to-Door Service
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Prediction 5: Less costly Choices
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Prediction 6: Growing Sector for Used Cars and trucks
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Prediction 7: Electric powered Automobiles
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Prediction 8: Shared Autos on the Increase
7. Phase Outlook, 2021
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2021 Market place Snapshot
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Cars in Procedure* Investigation and Forecast
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Cars in Procedure Investigation* – Auto Age
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New Vehicle* Product sales Assessment and Outlook
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GCC Nations Gentle Automobile Aftermarket Market Profits
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Phase Outlook 2021 – Real/OES Elements
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Segment Outlook 2021 – OE Areas
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Segment Outlook 2021 – Branded Aftermarket Pieces
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Section Outlook 2021 – Parallel Imports
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Segment Outlook 2021 – Counterfeits
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GCC Nations Light Motor vehicle Aftermarket Diagnostics – Businesses to Look at
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Important Advancement Opportunities for 2021-2025
8. State Predictions 2021
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2021 Predictions – Kingdom of Saudi Arabia
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2021 Predictions – United Arab Emirates
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2021 Predictions – Qatar
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2021 Predictions – Oman, Bahrain, and Kuwait
9. Progress Option Universe
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Development Prospect 1: On line Car or truck Assistance for Protection and Comfort
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Expansion Prospect 2: Inexpensive IAM Elements for Increased Price tag Sensitivity
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Progress Possibility 3: Assistance for Made use of Automobiles
10. Critical Conclusions
11. Appendix
For extra facts about this report stop by https://www.researchandmarkets.com/r/oedar9
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