Saudi Arabia Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, and Two-wheeler), By Radial Vs Bias, By Online vs Offline Sales Channel, Competition, Forecast & Opportunities, 2014 – 2024
Saudi Arabia tire market stood at around $ 2014 million in 2018 and is forecast to grow at a CAGR of over 6.4%, to cross $ 2870.9 million by 2024, on account of expanding vehicle fleet size, rising purchasing power and growing infrastructure and construction sector in the country. Moreover, development of smart cities such as ‘NEOM’ and implementation of programs such as National Industrial Development and Logistics Program (NIDLP) to facilitate the Saudi Vision 2030 are further driving growth in Saudi Arabia tire market. Additionally, short replacement period of tires due to extreme weather conditions in Saudi Arabia along with improving economic condition is expected to further push demand for tires in the country during the forecast period.
• To analyze and forecast the market size of tire market in Saudi Arabia. • To classify and forecast Saudi Arabia tire market on the basis vehicle type, company, region, radial v/s bias and offline v/s online sales channel. • To identify drivers and challenges for Saudi Arabia tire market. • To identify market trends and developments in Saudi Arabia tire market. • To identify and analyze the profile of leading tire players operating in Saudi Arabia. Some of the major players operating in Saudi Arabia tire market include Bridgestone Corporation, Hankook Tire Co., Ltd., Pirelli C. S.p.A., Dunlop (Goodyear Tire & Rubber Company), Michelin Group, Continental AG, Goodyear Tire & Rubber Company, Yokohama Rubber Co. Ltd and Toyo Tire & Rubber Co. Ltd., etc. In order to perform the study, the analyst conducted primary as well as exhaustive secondary research.Initially, the analyst prepared an exhaustive list of tire dealers and distributors operating in different regions of Saudi Arabia.
Subsequently, the analyst conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, the analyst was able to include distributors / dealers which could not be identified due to the limitations of secondary research. The analyst examined product offerings, distribution channels and regional presence of all major tire distributors across the country. The analyst calculated the market size for Saudi Arabia tire market using a bottom-up technique, wherein replacement tire market data for different vehicle type (Passenger car, LCV, M&HCV, OTR and Two-wheeler) was recorded as well as forecast for future years. The analyst sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales value data of respective tire vehicle type to arrive at the overall market size.
Multiple secondary sources such as directories, databases such as The Association of Saudi Arabia Automotive Industries, Saudi Arabian Rubber Council, Company Websites, company annual reports, white papers, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Tire manufacturers, supplier, distributors and other stakeholders • Associations, organizations, forums and alliances related to tire market in Saudi Arabia • Government bodies such as regulatory authorities and policymakers • Market research and consulting firms The study is useful in providing answers to several critical questions that are important for industry stakeholders such as tire distributors and dealers, customers and policymakers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking right investment decisions and facilitating their expansion.
In this report, Saudi Arabia tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Market, by Vehicle Type: o Passenger Cars o Light Commercial Vehicles o Medium & Heavy Commercial Vehicles o Off-the-Road Vehicles o Two-Wheelers • Market, by Radial vs Bias • Market, by Online vs Offline Sales Channel • Market, by Region: o Central o Western o Eastern o Southern o Northern • Market, by Company: o Bridgestone Corporation o Hankook Tire Co. Ltd. o Pirelli & C. S.p.A. o Dunlop (Goodyear Tire & Rubber Company) o Michelin Group o Others
Company Profiles: Detailed analysis of the major players operating in Saudi Arabia tire market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
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