DAYCO reveals it opted for its new partner after it was impressed by Mineral Circles Bearings’ proven market and technical know-how in the MEA region
Leading power transmission components, engine products, and drive systems manufacturer DAYCO has agreed a regional distribution deal with Mineral Circles Bearings (MCB).
DAYCO said it opted for its new partner after it was impressed by Mineral Circles Bearings’ proven market and technical know-how in the MEA region.
The pair will now work to drive stronger brand recognition in the region with a focus on the commercial vehicles and hybrid car segments.
“Our lack of distribution network in the region hurdles our goal to penetrate the growing market,” said Alper Can, area sales manager, DAYCO. “Mineral Circles’ regional and market influence and its innovative approach of creating sustainable and long-term strategies will help us with our ambition to expand our footprint and presence in the burgeoning market of the region.”
DAYCO supplies its engine products and drive systems to an impressive who’s who of Original Equipment (OE) manufacturers, including Renault, Scania, Volvo, Mercedes, Volkswagen, Peugeot, Hyundai, Kia and Toyota – effectively covering 97% of European and Asian vehicle parc.
The company is also widely known as one of the global leaders in manufacturing OE power transmission components for the commercial vehicle aftermarket and can claim a market share of more than 80%.
DAYCO said in a statement that the deal coincides with a time where the region’s automotive aftermarket is starting to be dominated by European and Asian vehicle units. The market is also being bolstered by rapid industrialisation growth.
Noting Globenews Wire research that anticipates growth of hybrid vehicles in the MEA region, the two firms said the uptick in the number of hybrids was good timing for their new partnership, particularly in the UAE: “As Mineral Circles’ market intelligence could easily supplement DAYCO’s innovative system solutions in the region. Just in the UAE, its market research expects that the UAE hybrid car market will surge at CAGR of 32.1% within the span of 2019-2025. The UAE is one of the leading countries that has the highest proportion of hybrid vehicles in the region. With the subsidies and support from the government, a drastic surge in the numbers of hybrid vehicles in the country itself is to be expected. With such quick proliferation, an unprecedented upswing in demand for hybrid vehicles’ aftermarket parts is something that should be looked into before the escalation in demand.”
Hassanein Alwan, managing director, Mineral Circles Bearings added: “Hybrid cars would be needing top-notch belts and timing kits alongside durable premium bearing innovation to withstand the demanding environmental condition in the region. DAYCO and Mineral Circles’ new collaboration will be zooming in on providing innovative solutions that are designed to withstand the region’s arduous environment conditions and to bridge the gap between the lack of availability of sustainable solutions in the region.
“We consider DAYCO as a ‘Partner of the future’. Their sustainable and competitive Research & Development team allows them to continuously evolve and adapt to the market’s future demand. This vision is what consists the pillars of our organization’s DNA.”
The deal with DAYCO is the latest announced in a series of new partnerships for Mineral Circles Bearings. The company said customers can expect to have wider choices of components to choose from to help them improve their ‘operation efficiency with top-notch aftermarket components and unparalleled aftersales services’.
“Mineral Circles’ alliance with DAYCO will focus on introducing our vast product portfolio to serve our customers on a wider scale. We want to save everyone the hassle to source their aftermarket needs by presenting them all of the suitable references they need to help them scale up their operations at scale,” Hassanein Alwan added.