DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Road Assistance and Vehicle Service Market (2018-2024): Market Forecast By Package Type (Basic Package and Custom Package), By Regions (Central Region, Northern Region, Western Region and Southern Region) and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia road assistance and vehicle service market is projected to reach $2.1 billion by 2024.
Market registered a decline in revenue during 2014-2017 due to weakening oil prices and economic conditions of the country which also, affected the disposable income of the households. Saudi Arabia witnessed a decline of over 25% in the car sales during the first 3 quarters of 2017, resulting in decline in vehicle service market revenues in 2017. The market is anticipated to bounce back with the recovery of oil prices post 2017. Also, government announcement of lifting of ban on women driving passenger cars and commercial vehicle would result in increase in demand for road assistance services in the forecast period.
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.
In the Saudi Arabia, central and western region held major market for road assistance and vehicle service systems in terms of revenues on the back of increasing vehicle sales and growing urbanization. Eastern region is expected to register maximum growth during the forecast period due to increase in sale of heavy commercial vehicle in the region.
The report thoroughly covers the market by road assistance and vehicle service by package types, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities / high growth areas, market drivers, which would help stakeholders to device and align market strategies according to the current and future market dynamics.
- Abdul Latif Jameel
- Advanced Innovation Company
- Azhalha Ezhalha
- Droop KSA Inc
- Hyundai Motor Company
- Nissan Saudi Arabia Com
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