As the race to tap one of the world’s fastest growing automobile aftermarket industry gains speed, one show that is moving in top gear is Automotive Aftermarket Middle East show (AAME) 2007. Organized by International Expo Consults (IEC), the 12th edition of the show was inaugurated by Sheikh Butti Al Ghandi, Vice Chairman, Dubai World Trade Centre at Dubai World Trade Centre. Local and international exhibitors are jostling for a slice of action in the booming regional industry as the oldest auto exhibition is attracting a stream of trade visitors.
International exhibitors from 15 countries are targeting the Middle East automotive aftermarket industry in a bid to exploit the immense opportunities created by the unabated growth of the regional industry. The fact that countries like Singapore, China, Taiwan, Korea and UK have chosen to participate as group pavilions is an indication of their interest to open up bilateral trade links with the UAE, in this particular industry.
The show has attracted many first time participations, including Slovenia and Poland only goes to establish the growing awareness about Middle East as a high potential destination. AAME 2007 also brings to Dubai the most comprehensive preview of the UK automobile aftermarket industry with the first ever group participation from the country.
Companies covering entire range of automobile parts, accessories, repairs and maintenance, garage equipment, tyres, batteries and performance systems are showcasing the latest and the most diversified product lines in the aftermarket industry.
According to Mr. Abdul Rehman Falaknaz , “ The already booming Middle East Automobile Aftermarket industry, pegged at US$ 18 billion per year and currently growing at 20 percent per annum, is in for further growth as the region goes into accelerated development mode. The increase in demand is going to be two fold. Growth in the domestic automotive and aftermarket is proportional to factors like growing tourism, boom in the retail and hospitality sector, entertainment and leisure, overall business and the increase in the influx of people as residential communities. These factors also hold true for the region. Since, Dubai is the re-export hub of the Middle East we can expect a substantial growth in the re-export sector. Additionally, Asia is amongst the fastest emerging markets in the world. Countries like India and China hold huge potential as auto re-export market.”
Official figures indicate that there are six million vehicles in the GCC states. Of the total, around 1.4 million vehicles comprise the domestic market in the UAE with an average annual growth rate of 10 %. UAE is the world’s biggest market for second hand cars and the second largest per capita market for four wheel drives. The auto finance market in UAE alone is valued at roughly US$ 2.1 bn. The region ranks first in terms of the highest per capita ownership of vehicles.
Dubai is the third most important re-export centre in the world after Hong Kong and Singapore, with an access to 1.5 billion consumers across three continents. According to a Business Monitor International report, 65 % of the auto-parts and accessories imported into Dubai are re-re-exported to markets as diverse as the Middle East, Africa and Eastern Europe. The auto re-exports are among the top ten re-export products of Dubai and have been growing annually by 20 percent.
“As organizers of AAME, we are happy to report a substantial increase in quality participation. This is indicative of the fact that the market is becoming increasingly competitive. Platforms like AAME are very important as they provide an opportunity to network, discuss and learn from the knowledge and experience of other people, industry experts, analysts and other exhibitors. More importantly, such forums are the real reflectors of the ever changing market requirements and the emerging trends.
Further more, our international visitor pre registration figures have increased by 10 percent , which indicates a growing awareness of the Middle East market potential.”
Local companies participating in the show include big names like Caltex, Enoc, Al Dobowi, Gulf Lubricants, Al Barg Trading, Mahmoud Reza Trading, Dolphin Manufacturing, Aclima, Ampex Engineering, Performance Group, Automart, Magnum Auto Spares etc.
The 2007 show builds on the gains of the previous event that closed more than AED 360 million business in three days and attracted visitors from 74 countries particularly Iran , India, Russia, CIS, GCC and other Middle East countries. The event is supported by the Dubai Chamber of Commerce and Industry, SMMT, PAAPAM, Singapore Information Services
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