A look at segments, sales of Saudi Parts Center

According to the company's estimates and available data, the size of the spare parts market in Saudi Arabia in 2020 for heavy equipment, commercial vehicles and automobiles exceeded SAR 26 billion.

Heavy equipment parts account for nearly SAR 5 billion, while spare parts for commercial vehicles and automobiles market is SAR 21 billion.

SPC looks forward to growing its market share over the next five years in various parts, including heavy equipment parts and commercial vehicles, by shifting the business model using modern technology to the multi-channel model, which will allow easy connectivity and better service to a larger segment of customers. The company also aims to grow by acquiring other sector’s companies.

The parts company also disclosed intentions to make more investment in the remanufacturing of spare parts for equipment, commercial vehicles and cars, drawing on its current expertise in repairing and maintaining the turbocharger.

The global auto parts remanufacturing market in 2018 stood at $53 billion with an expected compound annual growth rate of 7.1% to $91 billion by 2026-end.

SPC said that one of the most important aspects of the competitive strengths and advantages it has is that it is wide spread in most regions across the Kingdom through 10 major points of sale, exclusive and non-exclusive distribution rights for products with a strong presence in the Saudi market, the leadership in the maintenance and repair of the turbocharger, a strong technical infrastructure, in addition to integrated policies and procedures covering the entire value chain.

The company’s strategy includes a number of elements as indicated in the following table: