|Saudi Arabia is one of the key markets for road assistance and vehicle service in the GCC region followed by UAE and others. Although, road assistance and vehicle service market recorded slow growth during 2014-17, owing to deteriorating economic conditions, primarily due to slump in oil prices; however, the market is expected to register healthy growth post 2017 due to recovery of oil prices, increasing sale of vehicles in the country, growing urbanization as well as surge in road fleet size in Saudi Arabia.
According to 6Wresearch, Saudi Arabia Road Assistance and Vehicle Service market is projected to reach $2.1 billion by 2024. Growing urban population, increasing disposable income coupled with increase in vehicle sales, predominantly passenger cars are likely to propel the demand for road assistance and vehicle service in the country. Vehicle service market generated majority of the market revenues, where OEMs are providing vehicle maintenance services as a part of sale offer resulting in an increase in market revenues.
According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch, "Basic package segment of the road assistance and vehicle service market acquired major revenue share; growing demand for increased services and declining prices of custom packages resulted in the growth of market."
"Additionally, with government announcement of lifting ban on women driving passenger cars and commercial vehicles, there would be surge in passenger car sales resulting in an increase in demand for road assistance and vehicle services," Samuel further added.
According to Shefali Goel, Senior Research Analyst, Research and Consulting, 6Wresearch, "In Saudi Arabia, the Central region held major share of the road assistance and vehicle service market, backed by rising vehicle sales, especially in the passenger car segment."
"Moreover, with an increase in tourism industry in the Central and Western regions, the demand for road assistance and vehicle service market for Light Commercial Vehicles (LCVs) are expected to demonstrate substantial growth during the forecast period," Shefali concluded.
Some of the major companies in Saudi Arabia road assistance and vehicle service market include- Abdul Latif Jameel, Advanced Innovation Company, Azhalha Ezhalha, Droop KSA Inc., Hyundai Motor Company, and Nissan Saudi Arabia Company.
"Saudi Arabia Road Assistance and Vehicle Service Market (2018-2024)" provides in-depth analysis with 25 figures and 8 tables covered in more than 78 pages. The report estimates and forecast the overall Saudi Arabia road assistance and vehicle service market by revenues, package types, and regions. The report also offer insights on competitive landscape, market share by companies, companies benchmarking, company profiles as well as market drivers and restraints.