Frost & Sullivan, with a rich history of collaboration in the mobility sector with multiple stakeholders, envisions the region as a potential powerhouse for Future Vehicle Manufacturing.
In the coming decade, Saudi Arabia will see its role in the globe’s automotive manufacturing scene shift gear, driven by strong growth in the Kingdom’s new car and aftermarket segment. Aadil Rashid Khan and Fares Al Salamah from Frost & Sullivan provide context to the development.
With nearly 8 million passenger vehicles currently on the road and about 650,000 new vehicles being added annually, Saudi Arabia is one of the largest automotive markets in the Middle East.
Traditionally, the largest part of the automotive chain – spanning manufacturing, remanufacturing, distribution and retail – is imported, but a shift towards domestic production is likely to galvanise the road to self-sufficient industrialisation, said Aadil Rashid Khan, Principal Consultant in the Mobility practice of Frost & Sullivan.
Dive into the perspectives shared by Frost & Sullivan Growth Experts in this video:
Key questions addressed include:
- What will be the number of new vehicles that will be added every year?
- What is the industry potential and at what rate is it expected to grow by 2028?
- What is Saudi Arabia’s contribution to the overall GCC Automotive aftermarket?
- What is the expected manufacturing capacity by 2030?
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