Saudi Arabia Automotive Garage Equipment Market is Anticipated to Reach USD 104.0 Million at a Robust CAGR of 4.90% Between 2023 to 2030 | Infinium Global Research

The Infinium Global Research analyzes the Saudi Arabia Automotive Garage Equipment Market over the period of 2023 to 2030. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size, and future trends in Saudi Arabia automotive garage equipment market. It will help a lot of decision makers to develop strategies and find new opportunities in the Saudi Arabia markets of automotive garage equipment. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the automotive garage equipment market during the period. The Saudi Arabia automotive garage equipment market was valued at USD 72.0 Million in 2022 and is expected to reach USD 104.0 Million by 2030 and grow at a CAGR of 4.90% over the forecast period.

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Rising Vehicle Sales and Emission Norms: Saudi Arabia boasts the largest automotive industry in the Middle East, with new automotive sales accounting for approximately 40% of all vehicles sold in the region, according to the Saudi Ministry of Commerce and Industry. In 2019, new vehicle sales in the Kingdom exceeded 528,000 units, reflecting a 31% increase from the previous year. The growing sales and a total of around 10 million vehicles in use are driving the demand for garage and service centers for vehicle repair and maintenance, boosting the garage equipment market.

Government Mandates: In Saudi Arabia, vehicle owners are required to obtain a FAHAS (Motor Vehicle Periodic Inspection) certificate from the General Department of Traffic, which is renewed annually and is essential for vehicle registration. The introduction of the MVPI (Motor Vehicle Periodic Inspection) Program in 1986 further supported the garage equipment market's growth. The program's expansion and the increasing number of inspection centers necessitate various garage tools and equipment for conducting vehicle periodic inspections.

Counterfeiting Challenges: Counterfeiting of garage equipment and automotive spare parts remains a significant issue in Saudi Arabia. Counterfeit products can adversely affect manufacturers by resulting in higher warranty claims, recalls, and diminished confidence in brands. To combat this issue, the General Customs Authority of Saudi Arabia destroyed over 2 million counterfeit items in 2020, including auto spare parts and accessories. The ongoing battle against counterfeiting poses a challenge to the market's growth.

Technological Advancements: Technological innovations in garage equipment are driving the market forward. Original Equipment Manufacturers (OEMs) offer cutting-edge garage equipment integrated with advanced technologies. For example, TECH Tire Repair has developed a fully automatic laser wheel balancer and diagnostic center, capable of performing multiple functions in seconds. Similarly, Beissbarth introduced a digital headlight testing device with green alignment lasers and high-resolution cameras for precise measurement. Such innovative garage equipment solutions are expected to fuel market growth.

Market Segmentation: The Saudi Arabia automotive garage equipment market can be segmented based on type, garage type, and vehicle type. Lifting equipment, wheel & tire service equipment, and vehicle diagnostics and testing equipment are among the segments driving growth. Independent garages are anticipated to dominate the market due to their use of authorized products and cost-effective labor. The market serves both passenger cars and commercial vehicles.

Key Players: Key players in the Saudi Arabia automotive garage equipment market include Qingdao Risense Mechatronics Co., Ltd., Snap-on Incorporated, Robert Bosch Saudi Arabia Ltd, Continental AG, and Saudi Basic Technology Company. These industry leaders employ various strategies such as partnerships, new product development, and mergers & acquisitions to strengthen their position.

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Table of Content

Chapter 1 Introduction

1.1 Report Description

1.1.1 Segmentation and Research Scope

1.1.2 Definition, Abbreviations, and Assumptions

1.2 Research Methodology

1.2.1 Methodology

1.2.2 Research Methodology: An Outline

1.3 Research Approaches

Chapter 2 Executive Summary

2.1 Saudi Arabia Automotive Garage Equipment Market Projection

Chapter 3 Market Overview & Competitiveness

3.1 DRO Analysis

3.1.1 Drivers

3.1.1.1 Driver 1

3.1.1.2 Driver2

3.1.1.3 Driver3

3.1.2 Restraints

3.1.2.1 Restraint1

3.1.3 Opportunities

3.1.3.1 Opportunity1

3.2 Analysis of COVID-19 impact on the Saudi Arabia Automotive Garage Equipment Market

3.3 Porter's Diamond Model for Saudi Arabia Automotive Garage Equipment Market

3.4 PEST Analysis

3.5 IGR- Growth Matrix Analysis

Chapter 4 Saudi Arabia Automotive Garage Equipment Market, By Type

4.1 Overview

4.2 Wheel & Tire Service Equipment

4.3 Lifting Equipment

4.4 Vehicle Diagnostics and Testing Equipment

4.5 Body Shop Equipment

4.6 Washing Equipment

4.7 Other Tools

Chapter 5 Saudi Arabia Automotive Garage Equipment Market, By Garage Type

5.1 Overview

5.2 OEM Dealership

5.3 Independent Garage

Chapter 6 Saudi Arabia Automotive Garage Equipment Market, By Vehicle Type

6.1 Overview

6.2 Passenger Cars

6.3 Commercial Vehicle

Chapter 7 Company Profiles and Competitive Landscape

7.1 Competitive landscape

7.2 Company Profiles

7.2.1 ROBERT BOSCH SAUDI ARABIA LTD

7.2.1.1 Overview

7.2.1.2 Company Snapshot

7.2.1.3 Product Portfolio

7.2.2 Qingdao Risense Mechatronics Co., Ltd.

7.2.2.1 Overview

7.2.2.2 Company Snapshot

7.2.2.3 Product Portfolio

7.2.3 Saudi Basic Technology Company

7.2.3.1 Overview

7.2.3.2 Company Snapshot

7.2.3.3 Product Portfolio

7.2.4 Continental AG

7.2.4.1 Overview

7.2.4.2 Company Snapshot

7.2.4.3 Product Portfolio

7.2.5 Snap-on Incorporated

7.2.5.1 Overview

7.2.5.2 Company Snapshot

7.2.5.3 Product Portfolio

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Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of Saudi Arabia Automotive Garage Equipment.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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