Saudi Arabia Tyre Market

Saudi Arabia Tyre Market Overview:

The Saudi Arabia tyre market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. A tyre is a circular vehicle component produced from rubber and used to cover the rim of the wheel externally. It is usually designed to protect the wheel rim and offer tractive force between the road, surface, and vehicle. It offers a flexible cushion, minimizing the impact of vibrations and absorbing the shock of the vehicle. A rubber tyre contains carbon black, beads, trad, jointless cap piles, fabric, and synthetic rubber. In recent years, tyre have gained traction across the region on account of the surging demand for vehicle production.

One of the primary factors driving the market is the significant growth in the automobile industry of Saudi Arabia. Additionally, the growing environmental consciousness among the masses is resulting in rising production and sales of electric vehicles, thereby positively influencing the market growth. Other than this, with rapid urbanization and expanding income levels of consumers, there has been exponential growth in the sales of passenger, luxury, and electric vehicles (EVs). Besides this, the augmenting demand for premium-quality tyre, which contain better stability and reliability, and high puncture resistance to ensure driver and passenger safety and minimize the number of fatal accidents, is creating a favorable market outlook. In line with this, due to the rising environmental consciousness, key players are recovering, and recycling used tyre to conserve the energy required to manufacture new ones. Other than these factors, the rising number of logistics and transportation activities to deliver packages, and the growing number of farming activities in the agricultural sector, are creating lucrative growth opportunities for the key players. Apart from this, the rising number of infrastructure projects and the expanding construction industry are catalyzing the market growth. Moreover, the strategic partnerships and alliances among regional tyre manufacturing companies and international brands to launch lightweight, eco-friendly, and airless three-dimensional (3D) printed variants are expanding the consumer base. These factors are anticipated to provide a positive thrust to the market growth in the coming years.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the Saudi Arabia tyre market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. 

The report analyses the competitive structure of the Saudi Arabia tyre market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the Saudi Arabia tyre market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the Saudi Arabia tyre market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the Saudi Arabia tyre market industry. Furthermore, the value chain analysis of the Saudi Arabia tyre market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

Saudi Arabia Tyre Market Segment Insights:

The Saudi Arabia tyre market has been analysed as followed:

By Type:

• Radial
• Bias

By End-Use:

• OEM
• Replacement

By Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two Wheelers
• Off-The-Road (OTR)

By Size:

• Passenger Cars
  • Market Breakup by Rim Size
  • Market Breakup by Tyre Size
• Light Commercial Vehicles
  • Market Breakup by Rim Size
  • Market Breakup by Tyre Size
• Medium and Heavy Commercial Vehicles
  • Market Breakup by Rim Size
  • Market Breakup by Tyre Size
• Two Wheelers
  • Market Breakup by Rim Size
  • Market Breakup by Tyre Size
• Off-The-Road (OTR) 
  • Market Breakup by Rim Size
  • Market Breakup by Tyre Size

By Distribution Channel:

• Offline
• Online

By Region:

• Eastern 
• Central
• Northern
• Northwest
• Midwest
• Southwest

Competative Landscape: 

The competitive landscape of the market has also been examined with some of the key players being Michelin, Bridgestone, Continental, Goodyear, Sumitomo, Pirelli, Yokohama, Hankook, Toyo and Kumho.

Highlights of the Saudi Arabia Tyre Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The Saudi Arabia tyre market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs