The GCC automotive garage equipment market is expected to reach $1.6 billion by 2026, growing at a CAGR of 5.8% over the next five years, according to ResearchAndMarkets.com. The market is driven by several factors, including:
- Increasing vehicle ownership: The number of vehicles on the road in the GCC is increasing rapidly, driven by rising incomes and population growth. This is leading to increased demand for automotive repair and maintenance services, which drives demand for automotive garage equipment.
- Growing aging vehicle fleet: The average age of vehicles in the GCC is increasing, leading to more vehicles requiring repairs and maintenance. This is also driving demand for automotive garage equipment.
- Government investments in infrastructure: GCC governments are investing heavily in infrastructure development projects, such as new roads and bridges. This is leading to increased demand for commercial vehicles, which drives demand for automotive garage equipment for commercial vehicles.
The key market segments for automotive garage equipment in the GCC are:
- Vehicle lifting equipment: This segment includes two-post lifts, four-post lifts, and scissor lifts. Vehicle lifting equipment is essential for automotive repair shops to be able to access the undercarriage of vehicles.
- Tire and wheel service equipment: This segment includes tire changers, wheel balancers, and wheel aligners. Tire and wheel service equipment is essential for automotive repair shops to be able to service tires and wheels.
- Engine and transmission service equipment: This segment includes engine hoists, transmission jacks, and engine stands. Engine and transmission service equipment is essential for automotive repair shops to be able to service engines and transmissions.
- Diagnostic equipment: This segment includes scanners, oscilloscopes, and gas analyzers. Diagnostic equipment is essential for automotive repair shops to be able to diagnose and troubleshoot problems with vehicles.
- Other equipment: This segment includes air compressors, hand tools, and workshop equipment. Other equipment is also essential for automotive repair shops to operate efficiently.
The GCC automotive garage equipment market is dominated by global players, such as:
- Bosch
- Snap-on Tools
- Matco Tools
- Hunter Engineering
- Hofmann
- Corghi
- MAHA
- Ravaglioli
- BendPak
- Rotary Lift
- Stertil-Koni
These players offer a wide range of automotive garage equipment, including vehicle lifting equipment, tire and wheel service equipment, engine and transmission service equipment, diagnostic equipment, and other equipment.
GCC-based companies, such as AlMailem Group and SEDANA, are also gaining market share. These companies offer a wide range of automotive garage equipment from both global and regional brands.
The GCC automotive garage equipment market is expected to continue to grow in the coming years, driven by the factors mentioned above. The growth of the market will also be supported by the increasing adoption of new technologies, such as electric vehicles and autonomous vehicles.