The Saudi Arabian motor vehicles parts and accessories market has seen significant fluctuations in per capita value from 2013 to 2023. The value peaked at $212.86 in 2015 but then dropped significantly to $132.03 in 2017 and further to $109.07 in 2020, coinciding with economic challenges. However, a modest recovery occurred, with slight increments in 2021 and 2022, reaching $123.22 in 2022. In 2023, the per capita value slightly decreased again to $119.25. Year-on-year figures for 2022 to 2023 show a decrease of approximately 3.22%, with the five-year CAGR indicating an average yearly decline.
Looking ahead, the market is anticipated to experience a gradual recovery driven by economic diversification efforts, increased vehicle sales, and growing demand for vehicle customization and aftermarket services. Monitoring these trends will be crucial for stakeholders in the automotive supply chain.
How does Saudi Arabia rank in Motor Vehicles Parts and Accessories Market Size Value Per Capita?
| # | 45 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,880 | 2023 | View data | ||
| 2 | 2 Austria | 1,590 | 2023 | View data | ||
| 3 | 3 Spain | 1,360 | 2023 | View data | ||
| 4 | 4 Belgium | 1,280 | 2023 | View data | ||
| 5 | 5 France | 1,100 | 2023 | View data | ||
| 25 | 25 Greece | 155.4 | 2023 | View data | ||
| 26 | 26 Barbados | 132.82 | 2023 | View data | ||
| 27 | 27 Saudi Arabia | 119.25 | 2023 | |||
| 28 | 28 South Africa | 116.14 | 2023 | View data | ||
| 29 | 29 Malta | 114.06 | 2023 | View data | ||
