Market & Opportunity

Aftermarket (Auto Parts & Accessories)

As of 2024, the GCC aftermarket industry was valued at $16.48B. By 2035, it is projected to reach $24.0B with a CAGR of 3.48%. Key growth drivers include fleet expansion, rising customization trends, urbanization, and migration to digital sales. This market is ripe for tech players offering visual, interactive, and easy-to-use selection tools.

Used Car Market

In 2024, the used car market reached $23.86B and is projected to grow to $35.5B by 2034 (CAGR: 4.52%). Growth is driven by affordability, rising numbers of young drivers, and the shift toward digital purchasing. Buyers and sellers are increasingly moving away from offline transactions in favor of streamlined digital platforms like Formacar.

Market Size & Players

The GCC region is home to over 50,000 companies in auto parts, tuning, and accessories. The used car segment includes around 30,000 active sellers. More than 10 million users access online automotive platforms monthly. These figures underscore the massive potential for scalable, integrated digital solutions.