Saudi Arabia Retread Tire Market, By Vehicle Type (OTR, Commercial Vehicle, Passenger Car), By Retread Process (Cold Process, Hot Process), By Company, By Region, Forecast & Opportunities, 2027
Saudi Arabia retread tire market is projected to grow at a formidable CAGR during the forecast period.The market growth can be attributed to the rising demand for cost-effective and economical tires, the logistics industry, and freight transportation expansion.
Increased wear and tear of tires have fueled the retread tires sales as fleet operators are looking at opportunities to reduce costs while maintaining a sustainable vehicle fleet.Leading tire manufacturing companies are introducing techniques to develop retread tires that deliver the same quality and operational efficiency, which is anticipated to drive the growth of Saudi Arabia’s retread tire market.
Besides, market players are launching retread tires with unique characteristics to cater to the customer’s preferences within the motorsports industry, boosting the growth of the Saudi Arabia retread tire market.Growing last-mile distribution applications such as walk-in vans and lightweight delivery vehicles are creating lucrative prospects for tire manufacturers and distributors, which is adding to the growth of Saudi Arabia retread tire market.
Moreover, public and private fleet owners are increasingly adopting retread tires due to environmental and budget concerns. Increasing environmental awareness among consumers about the type of tire and the rising average sale prices of new tires is further expected to push the demand for retread tires in Saudi Arabia. Some leading retread tire manufacturers are implementing innovative production technologies to cater to the growing demand for retread tires in commercial vehicles, which is expected to propel the growth of Saudi Arabia retread tire market in coming years. The rise in personal disposable income among consumers and rapid urbanization has increased the need for mobility, significantly contributing to Saudi Arabia’s retread market growth. Commercial vehicles used for construction, mining, and agriculture practices install retread tires to help companies save costs, which is expected to drive the sales of retread tires in Saudi Arabia. Improved regulations on the use of industrial rubber and rising vehicle production are further anticipated to boost the growth of Saudi Arabia retread tire market.
Saudi Arabia retread tire market is segmented based on vehicle type, retread process, regional distribution, and company.Based on vehicle type, the market is further divided into OTR, passenger car and commercial vehicle.
On the basis of the retread process, the market is bifurcated into hot process and cold process. Based on regional distribution, the Saudi Arabia retread tire market can be further divided into Western Region, Northern & Central Region, Eastern Region, and Southern Region. Al-Jawad Tire Retreading, General Group, Al Howail Tyre Retreading Factory, Marangoni Retreading Systems, and others are the major players operating in the Saudi Arabia retread tire market. Companies involved in the Saudi Arabia retread tire market are increasingly investing in developing advanced technologies and launching new products to capture a significant share in the Saudi Arabia retread tire market.
• To analyze and estimate the market size of Saudi Arabia retread tire market from 2017 to 2021. • To estimate and forecast the market size of Saudi Arabia retread tire market from 2022 to 2027 and growth rate until 2027. • To classify and forecast Saudi Arabia retread tire market based on vehicle type, regional distribution, and company. • To identify dominant region or segment in the Saudi Arabia retread tire market. • To identify drivers and challenges for Saudi Arabia retread tire market. • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia retread tire market. • To identify and analyze the profile of leading players operating in Saudi Arabia retread tire market. • To identify key sustainable strategies adopted by market players in Saudi Arabia retread tire market. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe. The analyst calculated the market size of Saudi Arabia retread tire market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Retread tire manufacturing companies • Market research and consulting firms • Government bodies such as regulating authorities and policy makers • Organizations, forums, and alliances related to retread tire market The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia retread tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Saudi Arabia Retread Tire Market, By Vehicle Type: o OTR o Passenger Car o Commercial Vehicle • Saudi Arabia Retread Tire Market, By Retread Process: o Cold Process o Hot Process • Saudi Arabia Retread Tire Market, By Region: o Western Region o Northern & Central Region o Eastern Region o Southern Region
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia retread 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).
Our reports have been used by over 10K customers, including:
Executive Summary The Global Retread Tire Market was valued at USD 9.38 Billion in the year 2021. The rising demand for cost-effective and economical tires, growing logistics market, and rising demand for retread tires in light commercial vehicles are driving the growth of the market. Also, retread tire is environment friendly...
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198 pages •
By Asia Market Information & Development Company
• May 2022
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