MARKET LEADERSHIP IN IMPORTANT MARKETS

The Middle East’s automotive aftermarket industry is bracing for change over the next five years, according to the latest Automechanika Dubai Market Outlook 2022 – the fourth in the annual survey series conducted by GRS Explori.

Commissioned by Messe Frankfurt Middle East, organiser of Automechanika Dubai, the Middle East’s largest international automotive aftermarket industry trade exhibition, which took place in November. Some 68% of Middle East players surveyed said they anticipate major (48%) or minor (20%) changes in their sector over the next five years, with the key drivers being technology advancement, economic shifts and altered consumer behaviour.

“It is encouraging to see that business forecasts are positive. Sector players are anticipating significant changes over the next five years as technology keeps advancing at a rapid pace, electric vehicles are becoming more accessible, and customer demands become more intricate. The fact that 68% of Middle East respondents say they are ready to face the changes puts the regional industry in a great position for growth and innovation,” commented Mahmut Gazi Bilikozen, Automechanika Dubai’s show director.

“It is also encouraging that an overwhelming 98% are, in some capacity, business ready to tackle these changes and are starting to adapt business strategies to get ahead of the curve.

Over three-quarters of Middle East respondents identify electric, hybrid and solar-powered vehicles as a technology that is already being accepted and will only accelerate in adoption over the next five years, with pricing and government policies being change catalysts.