DUBLIN, March 27, 2023 /PRNewswire/ -- The "UAE Car Accessories Market, By Location (Interior Accessories, Exterior Accessories), By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Demand Category (OEM, Replacement), By Sales Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
UAE car accessories market is anticipated to grow at a robust CAGR in the forecast period, 2024-2028
The key factors driving the UAE car accessories market are the increased demand and production of autonomous and connected passenger cars and the growing popularity of electric vehicles.
Also, the ongoing technological advancements in passenger car accessories and the high demand for installing infotainment systems are expected to bolster the UAE car accessories market growth over the next five years.
High Production and Sales of Passenger Car Drive the Market growth
Rapid urbanization, the improved lifestyle of consumers, and the high per capita income of consumers make them invest in the purchase of passenger cars. In 2020, 158,711 total vehicles were sold in UAE, and the growing preference for private vehicle ownership is expected to influence the sales of passenger cars.
Consumers add car accessories as an additional option to improve the automobile's protection, comfort, security, and mobility. Car accessories not only improve the aesthetic appeal of cars, but they also provide the driver with the higher confidence to drive the vehicle seamlessly.
The high sales of passenger cars are fueling the sales of car accessories. The booming automotive industry is expected to create lucrative growth opportunities for the UAE car accessories market over the next five years.
Advancements in Technology Boost the Market Demand
The continuous evolution in technology along with technological innovations attracts customers to invest in the purchase of car accessories. Advanced car accessories provide a sophisticated look, comfort, and convenience to the passengers while riding the automobile.
A large variety of car accessories are available in the market, and sometimes these are made of poor quality. Car accessories manufacturers are improving the quality of materials used in the manufacturing process to improve their sales. Manufacturers have started using fuel-efficient and lightweight materials for manufacturing passenger car accessories.
Also, the introduction of advanced systems such as new lighting systems, dynamic window displays, and biometric entry to cars is expected to act as a positive factor in accelerating the demand for the UAE car accessories market in the forecast period.
High Installation of Infotainment Systems in Passenger Cars Supports the Market Growth
The availability of high-speed internet penetration and the expected roll-out of 5G technology is strengthening the country's connectivity. Consumers are investing in the purchase of smart devices fueling the demand for installing infotainment systems in the passenger car.
An infotainment system in a modern vehicle is equipped with Bluetooth, a CD player, GPS, control panels, a lighter port, multiple speakers, and a video panel to enhance the driving experience. Original equipment manufacturers have started providing infotainment systems in mid and small-car segments, which is expected to witness huge demand due to the high sale of cars in this range.
The market players are working on advancing the infotainment systems to make them compatible with connected and autonomous vehicles and introducing advanced versions of the infotainment system to capture customer attention. The growing popularity of infotainment systems among consumers is expected to foster high market demand.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in UAE car accessories market.
- Al Taif Car Accessories
- Car Mart
- Delta Plus
- Al Mushrif Auto Accessories
- Fawaz Al-Khateeb
- Directed Auto
- Top Star trading LLC
- Car Care Auto Accessories
- Bab Al Satwa Car Accessories
- Galadari Automobiles Co Ltd LLC
Report Scope:
In this report, UAE car accessories market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
UAE Car Accessories Market, By Location:
- Interior Accessories
- Exterior Accessories
UAE Car Accessories Market, By Vehicle Type:
- Hatchback
- Sedan
- SUV/MPV
UAE Car Accessories Market, By Demand Category:
- OEM
- Replacement
UAE Car Accessories Market, By Sales Channel:
- Online
- Offline
UAE Car Accessories Market, By Region:
- Dubai
- Abu Dhabi
- Sharjah
- Rest of UAE
For more information about this report visit https://www.researchandmarkets.com/r/5j13ta
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
