The growing vehicle sales of new and preowned vehicles along with the ageing vehicle fleet and poor road infrastructure is anticipated to accelerate the market growth in the forecast period, 2023-2027.
According to TechSci Research report, “Egypt Automotive Aftermarket By Region, Competition Forecast & Opportunities, 2027”, the Egypt automotive aftermarket is expected to witness growth at a significant rate in 2023-2027. The escalating demand for electric vehicles consequently of stringent emission standards for automobiles significantly increases the electric vehicle sales across Egypt. Various automakers are working to extend their range of electric vehicles which supports the market growth. Elevated adoption of electric vehicles has resulted from numerous factors including escalating demand for fuel-efficient, high-performance, and low-emission vehicles, as well as strict government rules and regulations about the vehicle emissions which further creating lucrative opportunities for auto part manufacturers in the aftermarket. Technological breakthroughs progressions, growing and developing manufacturing sector, and ideal demographics with most of the population being under 30 years are some of the factors cushioning the development of the automotive sector. The advancement in materials and innovation used for vehicle producing, the average lifespan of vehicles has increased generously. The quality of vehicles has been essentially grown over the past decade which allows customers to progressively keeping old vehicles as their second vehicles instead of exchanging or scrapping them. The increasing increased vehicle age, escalating the huge requirement for substitution of parts, repair, and maintenance, which is relied upon to drive the auto parts industry in the aftermarket.
However, the expanding adoption of vehicle safety technologies coupled with the rising electric vehicle sales is expected to hamper the automotive aftermarket in the coming years.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on“Egypt Automotive Aftermarket”
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The Egypt automotive aftermarket is segmented into vehicle type, component, service channel, customer segment, regional distribution, and competitive landscape. into B2B, B2C.
Based on vehicle type, the market is segmented into two-wheeler, passenger car, LCV, M&HCV. Passenger car segment is projected to share the largest revenue the market in the forecast period, 2023-2027. This is due to increase in the fleet size of passenger cars which is estimated to witness the growth of this segment during the forecast period.
Based on the component, the market is divided into tires, body & mechanical parts, batteries, accessories & vehicle care products, lubricants. Accessories & vehicle care products segment is expected to dominate the market in the forecast years, 2023-2027. The escalating demand for vehicle customization, which offers aesthetic look, lightness, high standards of design, engineering, and safety functions.
Several key market players operating in the Egypt automotive aftermarket is:
- Michelin Group
- Pirelli & C. S.p.A.
- Trenco Transport and Engineering Co.
- Continental AG
- Bridgestone
- Robert Bosch GmbH
- Denso Corporation
- Roland Berger
- Shell Egypt
- Egyptian Plastic & Electrical Industries Co.
Press Release : https://www.techsciresearch.com/news/7410-egypt-automotive-aftermarket.html
“The Egyptian automotive aftermarket is well-positioned to offer great opportunities for parts producers, distributors, and service providers. Several favourable framework conditions, the intensity of competition locally is expected to rise over the future years. As the producers’ parts are increasingly looking at the African continent, Egypt will likely be a prime target for many. Producers is showing interest in investing in more own structures on the ground or, in some product categories, look for options to add value locally to capture more significant market shares. The launch of new innovations, which is bolstering the development of automotive parts. Consequently, the key participants are adjusting their methodologies to market trends to keep up with the intensity in a particularly dynamic environment. The escalating demand for automotive parts owing to the latest technology in car engine clutches propels the market growth. Prominent businesses are presently intending to utilize lightweight materials to manufacture parts that are altogether lightweight and more eco-friendly than their previous versions. The growing utilization of new technology and innovations in engines, such as hybrid engines, is more prevalent than in developing nations, like Egypt. Rising demand for producing new vehicles with minimized utilization of fuel is supported by increasing government support with moderately stricter emission norms, bringing about more demand for automotive parts. All these aforementioned factors support the market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm”.
“Egypt Automotive Aftermarket Market By Vehicle Type (Two-Wheeler, Passenger Cars, Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicle (M&HCV)), By Component (Tires, Body & Mechanical parts, Batteries, Accessories & Vehicle Care Products, Lubricants), By Service Channel (DIFM (Do it for Me), DIY (Do it Yourself), and OE (Delegating to OEM’s)), By Customer Segment (B2B, B2C) , By Region, Competition Forecast & Opportunities, 2027 has analyzed the future growth potential of Egypt automotive repair and maintenance market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and assist decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with significant drivers, challenges, and opportunities in Egypt automotive aftermarket.
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