News / African auto parts market to reach $15bn by 2020
Date: 2016-04-07
African auto parts market to reach $15bn by 2020
Pauwels ... African automotive aftermarket is amongthe most promising
Demand for auto parts and accessories in Africa is growing at rate of 11 per cent year-on-year and is expected to reach $15.3 billion by 2020, according to analysts Frost & Sullivan.
The various opportunities and trends of East Africa’s automotive aftermarket were highlighted at the annual Automechanika Roadshow, held in Ethiopia and Kenya, last month, said a statement.
More than 200 industry professionals attended the two-day roadshow and analysed the region’s fast-growing potential, it added.
The event was led by countries such as Kenya, Ethiopia, Tanzania, and Uganda, it said.
The roadshow was presented by Messe Frankfurt Middle East, organiser of Automechanika Dubai and Automechanika Jeddah, the wider region’s largest international exhibition network for the auto aftermarket.
Ahmed Pauwels, CEO of Messe Frankfurt Middle East, said: “Despite its highly fragmented nature, the African automotive aftermarket is among the most promising in terms of potential growth.”
“There’re nearly 22 million vehicles on the continent’s roads today, creating demand for parts and accessories worth more than $8 billion per year. It’s therefore become an increasingly significant market for global manufacturers of accessories and engine components such as bearings, brake pads, spark plugs and filters – with a large amount of these being re-exported from the UAE,” he said.
“Africa is also a major source of trade buyers and exhibitors at Automechanika Dubai and Jeddah, and the roadshow takes on increasing significance as it reaches out to African stakeholders to better understand their industry requirements and preferences,” he added.
The other South African pavilion exhibitors set to take part in the upcoming Automechanika Dubai 2016 spoke of the three-day event as a key stepping stone to the rest of Africa.
Zane Scullard from Unicontinental Natal, a manufacturer of adhesives and sealants, said: “Through Automechanika Dubai 2016 we’re planning to reach new customers and possibly extend our business into the North Africa.”
“We consider Africa as very important for the growth of our business, while Dubai’s status as a major transhipment and re-export hub plays a fundamental role in fuelling the growth of Africa’s automotive aftermarket trade,” he added.
Automechanika Dubai 2016 will feature more than 2,000 exhibitors from 60 countries, and focuses on the six core product groups, consisting of parts and components; electronics and systems; repair and maintenance; tyres and batteries; car wash, care and reconditioning; and accessories and customising.
The event is scheduled to take place from May 8 to 10, in Dubai, UAE. – TradeArabia News Service
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