Saudi Arabia Automotive And Spare Parts Logistics Market Driven

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Saudi Arabia Automotive And Spare Parts Logistics Market Driven

“Amplified demand for Passenger Vehicles from Women Drivers supporting the growth of Automotives and Spare Parts Logistics Market in Saudi Arabia.”

Surge in manufacturing / industrial activities, rising domestic consumption contributing to the growth of warehousing market: Surge in manufacturing of automotives and spare parts in Saudi Arabia and ease in government regulations have collectively influence the warehousing demand for automotive and spare parts logistics in Saudi Arabia. GDP contribution of manufacturing sector in KSA was evaluated at SAR 376 Billion in 2018. Rising import volumes along with the growth of local manufacturing of automotive & spare parts make it essential for the Kingdom to have robust transportation & warehousing system.

Negative Impact of COVID-19 on the Automotive & Spare Parts Logistics Market: Saudi Arabia witnessed a country wide lockdown owing to the COVID-19 with all the industries shut. The complete lockdown in the second quarter of 2020 left the cargo backlogged at KSA’s major container ports; travel restrictions led to a shortage of truck drivers to pick up containers and ocean carriers canceled sailings. The automotive & spare parts logistics market in Saudi Arabia is anticipated to witness a negative growth rate in the year 2020 owing to the COVID-19. The market is anticipated to get back to normal in the next 8-10 months.

Rising Investments in the Logistics Sector: Saudi government is expected to raise $36.5 bn by 2030 for transportation infrastructure projects. The King Fahd Causeway linking Saudi & Bahrain is also undergoing expansion to accommodate a waiting area of 400 trucks, further contributing to the growth of the logistics sector in Saudi Arabia. Additionally, a 680 Km Saudi-Oman highway and the UAE-Saudi Mafraq-Ghuwaifat International highway are also underway. The logistics companies are investing in advanced technologies such as control towers to streamline supply chain complexity, on-board vehicle telematics, truck platooning to gain a competitive edge.

For More Information on the research report, refer to below link:-
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/saudi-arabia-automotive-and-spare-parts-logistics-market-outlook-to-2025/373314-100.html

The report titled “Saudi Arabia Automotive & Spare Parts Logistics Market Outlook to 2025: Lifting of Ban on Female Drivers and Growing Aftermarket for Spare Parts to Influence Market Growth” by Ken Research suggested that the automotive & spare parts logistics market is further expected to grow in the near future as automotive companies are willing to set up their manufacturing plants within the country. The government initiatives such as localization of vehicle imports and incentives for OEM’s using local auto parts, to contribute to the growth of the automotive & spare parts logistics market in the next few years. The market is expected to register a positive CAGR of 4.3% in terms of revenue during the forecast period of 2019-2025F.

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