Automotive aftermarket to top $ 69 billion by 2030
AUTOMECHANIKA Riyadh, Saudi Arabia’s leading trade show for the automotive aftermarket, will provide a platform for thought leaders, experts, and industry professionals to gather and discuss the latest advancements, challenges, and trends in the Saudi Arabian automotive sector as the MEA industry is set to exceed $ 69.39 billion by 2028.
According to research from Virtue Market Research the MEA automotive aftermarket is expected to grow at a compound annual growth rate of 8.2% over the forecast period of 2024- 2030, underscoring the opportunities for the Saudi Arabian, GCC, and Middle East automotive aftermarket ecosystems. To provide insights into the growth strategies for Saudi Arabia's automotive market, Automechanika Riyadh will return to the Riyadh International Convention and Exhibition Center (RICEC) from 30 April to May 2, 2024, with a host of industry experts as part of the exhibition’s three-day Automechanika Academy.
On the opening day, under the theme of Accelerating KSA’S Mobility, the focus will be on transitioning KSA's economy, the automotive industry landscape, and investments in autonomous vehicles. Sustainable mobility will also feature high insights into EV infrastructure, electrifying fleet operations, and smart mobility innovations.
Insights and panel discussions will include renowned speakers such as Regional Vice President-Mobility Aftermarket-Middle East and Türkiye Bosch, Arda Arslan; Head of Programme Management / Middle East Operations, Lucid Motors, Ali Rizvi; Director Customer Experience & Quality – MEA, Renault, Mark Carson; Head of Brand, Al Jabr Trading Company, Adel Binafai.
They will be joined by Deputy Minister of In vestment Transaction, Ministry of Investment, KSA, Saleh Al Khatbi; Director – Automotive, Ministry of Investment, KSA, Ahmed Al-Malki; Chief Advisor - Automotive Cluster, National Industrial Development Centre, Ministry of Industry and Mineral Resources, Aftab Ahmed; Director General of Standards Department, Saudi Standards, Metrolog y, and Quality Organization (SASO), Saad Alhatem; Conformity Specialist Engineer and Quality Team Leader , GCC Standardization Organization (GSO), Ibrahim Al-Rahbi;
Managing Director, Tasaru Mobility Investment, Sandeep Surana.
Chief Executive Officer and Founder of 1st Arabia Trade Shows and Conferences, Bilal Al Barmawi, said: “The Saudi Arabian automotive market has evolved significantly from its humble beginnings.
According to Glasgow Research & Consulting, the journey began in 1929 when the first car was imported into the Kingdom, with only a few hundred vehicles traversing the nation's roads.
“Fast forward to 2024, and the landscape has dramatically transformed, with approximately 10 million passenger cars in circulation. This exponential growth underscores the pivotal role of Automechanika Riyadh in the automotive aftermarket industry and highlights its significance as a landmark event."