With a strategic roadmap to reduce oil dependency and curb imports, KSA is stepping on the accelerator to rev up domestic manufacturing and turbocharge industrial development. With a notable decline in import volume during the period of 2016-2021, KSA’s government initiatives to build in-house manufacturing capabilities have been gaining traction. As a result, the automotive industry in KSA is experiencing a remarkable growth ride.
Curious to delve deeper into the exciting journey of KSA’s automotive market? Read more to uncover the key growth drivers that are sculpting the future of the industry. Discover the strategies, innovations, and potential that lie ahead.
1. To reduce dependence on oil & imports, KSA has made a Strategic framework to develop domestic manufacturing & facilitate industrial development
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2. As a result, Industrial clusters and the private sector are increasingly investing in the production of advanced mobility materials and vehicle parts
3. Four Key Trends are Re-Shaping the Automotive Industry with Serious Implications on OEMs and Suppliers in KSA
4. Further, Huge export opportunities are available in KSA with the establishment of the automotive industrial clusters, helping in filling demand in Africa & other GCC countries as well
Some of the Intelligence Curated by Ken Research in Automotive Market Space:
- UK EV Charging Equipment Market Outlook to 2027 Driven by Rising Demand for Eco-friendly Transport and Strong Government Policies and Incentives
- India MBO Two Wheelers Market Outlook to 2027 Driven by economic recovery after COVID and increasing demand for 2Ws is helping the MBOs players to sustain their market position in the high fragmented market structure
- USA EV & EV Charging Equipment Market Outlook to 2027 Driven by growing market driven by government support and customer drive towards cost-efficient mobility
- Global Used Vehicle Market Outlook to 2027 Driven by Type of Market Structure, by Type of Vehicle, by Age of vehicle, by kms Driven and by Region
- Vietnam Car Rental Market Outlook to 2027F Driven by Increasing Internet Penetration Rate, Tourism and Urbanization