Dubai: The GCC countries boast of one of the highest per capita incomes in the world.
The stable economy, a high population growth rate, and the fact that local production of automobiles is almost non-existent, are the key factors behind the significant development of the automotive sector.
The diversified automotive industry in the GCC and UAE is highly dependent on imports from Europe, America, Japan, and other Asian countries.
"The large presence of automobiles in the region creates significant demand for the aftermarket industry and augurs well for Autome-chanika Middle East, the leading international trade fair for the automotive industry in the wider Middle East," said Elisabeth Brehl, Managing Director of Epoc Messe Frankfurt, organisers of the trade fair.
Research stated by Auto Strategies International, show that 66 per cent of the total number of passenger cars in UAE are from Japan, while the European, Korean and American car brands stand at 14.71 per cent, 7.55 per cent and 3.63 per cent respectively.
Automechanika Middle East will be held from May 31 to June 2, 2009, at the Dubai International Convention and Exhibition Centre.
"Reported research show that the Japanese automobiles dominate the GCC auto market with 60.98 per cent, while the rest of the pie was shared by Korean brands at 13.78 per cent, American brands at 10.15 per cent, and European brands at 8.20 per cent," said Michael Dehn, Senior Show Manager of the Automechanika Middle East.
Dehn added, "With almost 4m passenger cars in the GCC, out of which 1,287,442 are in UAE; this region offers car parts and accessories distributors, retailers and the aftermarket industry, in general, a huge opportunity to enter a market least affected by the current credit crunch."