Insights Unleashed: Glasgow Research & Consulting's Latest Study on KSA's Automotive Frontier!
Insights Unleashed: Glasgow Research & Consulting’s Latest Study on KSA’s Automotive Frontier!
๐ Key Findings:
๐ KSA’s commercial benefits are on the rise.
๐ Tourism fuels used cars, rentals, and leases.
๐ก Government’s automotive focus drives FDI and global OEM interest.
๐ KSA’s stake in a California EV startup marks a significant shift.
๐ข️ Fuel price hikes under Fiscal Balance Program 2023 spotlight hybrid and electric vehicles.
๐ฎ Vision 2030 Impact:
๐ Modern trade and E-commerce aim for 80% of retail trade.
๐ $100 billion investment in Logistic infrastructure.
๐ Market Dynamics:
๐ 7.5% CAGR projected for KSA’s new car market.
๐ Personal cars dominate commuting, unlike public transport in other nations.
๐ญ Government support targets 300,000 vehicle production and 40% local value addition.
๐ Table of Contents:
Explore the intricacies of KSA’s Automotive Aftermarket Services:
๐ ️ Market structure, trends, and current/future services.
๐ณ Impact of electronic payment regulations on workshops.
๐ Urbanization and decentralization effects on service providers.
๐ Business Concept Highlights:
๐ผ Services offered, revenue streams, and competition analysis.
๐ฏ Target customers, market characteristics, and trends.
๐ Workshop vs. online channel market dynamics.
๐ก Demand & Opportunity Analysis:
๐ฃ️ Consumer habits and preferences across nationalities.
๐ Motivations for using outside workshops in the car ownership journey.
๐ Establishing demand for doorstep roadside assistance via a marketplace model.
๐ Learn More: https://lnkd.in/dNUYKW9g
- KSA is slowly witnessing commercial benefits. Also, leisure and religious tourism drives the car industry especially used cars or rented or leased. Government of KSA emphasizes on automotive sector as key revenue generator and is promoting the FDI inflow. Global OEMs are also planning to set up production bases in KSA.
- KSA now almost owns the California EV start up. In exchange for US$ 1.3 billion investment Lucid Motors gave up majority ownership to Saudi Arabia’s sovereign wealth fund. Increase in the gasoline and diesel price as apart of Saudi Arabia’s Fiscal Balance Program 2023 (FBP) may intensify the customers focus on hybrid and electric vehicles.
- KSA vision 2030 under the National transformation program aims to contribute close to 80% of trade in retail sector through modern trade and E-commerce. KSA also plans to invest in US$ 100 billion in Logistic infrastructure
- New car market in KSA is estimated to grow at a CAGR of 7.5% over the next 10 years. Unlike other countries where the dependence on public transport is high, the KSA market where dependence on personal cars is high for commuting.
- Government Support — KSA Government has aligned a vision during the period of 2020 to 2030 to bring in OEMs to produce approximately 300,000 vehicles in KSA. It also aims to develop ~40% Local Gross Value Add in the automotive ecosystem
Table of Content:
Automotive Aftermarket Services Market Overview — KSA
- Structure of the market
- Automotive Aftermarket Services including roadside assistance market in KSA (Oil and filter change, Fuel, Tire services, Battery, Carwash)
- Current and future trends — but not limited to Service Centers vs. Mobile Van Services; roadside assistance market; Car TCO (Cost to Own) in KSA
- Impact of Government regulation of electronic payments to workshop (including independent workshops)
- Foreign investment in the automotive service sector
- Impact of urbanization and decentralization plan in main KSA cities (at least Jeddah)
- Fast changing buying/ consumer habits about buying roadside assistance services
- Disposable income / location / buying habits / preferences / characteristics and traits going forward
Business Concept / Model Overview — Automotive Aftermarket Services
- Business Overview
- Opportunity / Value Proposition
- Services Offered
- Revenue Streams
Market Sizing and Competition Analysis (Supply side analysis) of the Automotive Aftermarket Services and Automotive service providers/ workshop operators
- Study 7–8 and Automotive service providers/ workshop service providers (across the value chain- organized/ unorganized sector)
- Target Customers
- Market Characteristics and Trends
- Market Size- Workshop vs Online channel (Current and future) and addressable market
- Car ownership — private / commercial; driving licences in KSA, car batteries in use
- Identify areas of backward integration
- Revenue Potential
- Revenues streams, list of services offered, pricing of services, timing of operations, staffing levels, geographic reach, Unique Selling Preposition (USP), etc.
- Strategic Partners, Marketing, Technology as may be applicable
Demand Side analysis
- Consumer habits by nationality set: Travel habits and trends, buying trends — cash vs. payment by credit card, etc.
- Use of motor insurance policy, it’s inclusions
- Motivation and drivers to use outside workshops in one’s car ownership journey across year 1–10
- Target market and customers segments assessment, buying propensity, etc.
- Establish demand for a service provider who can provide roadside assistance to doorstep or a place of their convenience with a great a great customer experience via a marketplace model
Opportunity Assessment and Recommendations
- Strategies for the apps marketing (download, drivers for repeat business etc.)
- Recommend positioning and pricing
- Suggest unique selling points and key attractions for the business
- Assess the key success and risk factors
For access to the full report, you can contact us at
info@glasgowinsights.com or visit www.glasgowinsights.com for more information. ๐
Glasgow Research & Consulting — Market Growth Catalyst!
Contact Us
Office No 6, Unit 402, Level 4,
Crystal Tower, Business Bay,
PO Box 445190 Dubai, United Arab Emirates
Mobile: +971 55 9744360 | Phone: +971 4 566 8869
Website : https://www.glasgowinsights.com
Comments
Post a Comment