The record exhibitors of exhibitors at Automechanika Dubai 2016 has confirmed the buoyant nature of the automotive spare parts and aftersales market in the Middle East, which was worth $12.98bn in 2015 according to research by Frost & Sullivan (F&S).
The show opened yesterday featuring 2,017 exhibitors from 58 countries – a 7% increase on the previous year underlining the positive sentiment in a Middle East spare parts market as vendors look forward to the 6% annual growth to $17.27bn by 2020 project by F&S.
This year’s edition is also witnessing more than 900 of the event’s 2,000 exhibitors specifically target the GCC’s commercial vehicle aftermarket segment with truck related products, parts and services.
F&S estimate that CV sales in the region increased by an average of 13.4% annually between 2009 and 2014 — swelling the number of vehicles on the roads to 1.2 million units — and this trend is expected to continue, with the volumes rising by 50% to a total of 1.8 million units by 2020.
The Gulf market for CV parts and accessories is expected to rise at a compound annual growth rate (CAGR) of 8.4% from $3.38bn in 2014 to $5.49bn in 2020.
Parts including bulbs, filters, spark plugs, belts, brakes, pumps, alternators and thermostats, as well as the service itself, make up nearly 71% of regional demand, while collision parts including bumpers are also highly sought after in the UAE, Saudi Arabia, and Kuwait.
Ahmed Pauwels, CEO of Messe Frankfurt Middle East, the organiser of the show, noted: “Truck competence has enjoyed remarkable growth since it was first introduced in 2012, with exhibitor numbers having more than doubled over the past five years.
“This underscores the increasing interest in the CV aftermarket in the Middle East, and its particular relevance for sectors such as vehicle fleet operations and maintenance, shipping companies, construction, freight or logistics, auto builders and specialist workshops.”
