UAE OTR Tire Market to Grow with a CAGR of 5.95% in UAE through to 2028

Expanding mining and quarrying activities necessitating durable tires, and the rise of off-road tourism, which fuels demand for specialized OTR tires tailored for adventure vehicles are the factors driving market in the forecast period 2024-2028

 

According to TechSci Research report, “UAE OTR Tire Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the UAE OTR Tire Market stood at USD 112.52 Million in 2022 and is anticipated to grow with a CAGR of 5.95% in the forecast period, 2023-2028.

The UAE Off-the-Road (OTR) Tire Market is a dynamic and essential segment within the country's automotive industry. The market's growth is primarily propelled by the UAE's rapid urbanization, robust construction sector, expanding mining and quarrying activities, and the flourishing off-road tourism sector.

One of the primary drivers of the UAE's OTR Tire Market is the extensive construction and infrastructure development projects taking place throughout the country. The construction sector, characterized by towering skyscrapers, state-of-the-art airports, and a vast network of highways, necessitates heavy machinery and earthmoving equipment, all of which heavily rely on specialized OTR tires. These tires are designed to withstand the challenging conditions of construction sites, including abrasive terrains and heavy loads.

The mining and quarrying sector in the UAE is another significant contributor to the OTR tire demand. The extraction of minerals and aggregates requires large, heavy-duty equipment, such as haul trucks and loaders, which rely on OTR tires known for their durability and load-bearing capacity. The ongoing demand for minerals, aggregates, and other natural resources ensures the consistent need for robust OTR tires in the country.

In addition to the industrial sectors, the UAE's unique off-road tourism industry adds a distinct dimension to the OTR Tire Market. The nation's picturesque desert landscapes and rugged terrains have made it a hub for adventure tourism, attracting enthusiasts who engage in activities such as dune bashing, desert safaris, and off-road adventures. Specialized OTR tires for off-road vehicles are crucial for this sector, reflecting the market's adaptability to a diverse range of consumer needs.

The UAE OTR Tire Market is characterized by its adaptability to different sectors, ranging from construction and mining to agriculture and adventure tourism. The market's ability to cater to various industrial and recreational needs, while meeting stringent quality and safety standards, underscores its significance in supporting the country's diverse and expanding industries. As the UAE continues to evolve and diversify, the OTR Tire Market remains a pivotal component of its economic landscape.

 

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Dubai plays a pivotal role in the UAE's OTR Tire Market, driven by its extensive construction and infrastructure development projects. The emirate's construction sector is marked by iconic skyscrapers, state-of-the-art airports, and a sprawling network of highways, all of which require heavy machinery fitted with OTR tires. Dubai is also a hub for OTR tire dealerships and showrooms, offering a wide range of tire options to cater to diverse consumer demands.

Abu Dhabi: As the capital of the UAE, Abu Dhabi places a strong emphasis on quality, safety, and durability within the OTR Tire Market. The emirate's stringent government regulations ensure that OTR tires meet the highest standards of reliability and performance. OTR tires in Abu Dhabi primarily cater to the construction, mining, and industrial sectors, where quality and durability are paramount. The trend in Abu Dhabi revolves around the emergence of Certified Pre-Owned (CPO) tire programs, aligning with the region's commitment to trust and transparency in tire quality.

Northern Emirates (Sharjah, Ras Al Khaimah, Ajman, Umm Al Quwain, Fujairah): The Northern Emirates are gradually gaining prominence in the OTR Tire Market, reflecting the UAE's diversification efforts. Although not as dominant as Dubai or Abu Dhabi, these regions are witnessing an increase in OTR tire sales. Residents in these emirates often seek reliable and durable tires for daily commuting and practical purposes, highlighting the trend of customization and tire durability.

Industrial Zones and Commercial Areas: Industrial zones and commercial areas are specific focal points for OTR tire demand. Companies and businesses operating in these zones require well-maintained used trucks, vans, and utility vehicles with specialized OTR tires for logistics and material handling. This segment emphasizes durability and utility, often involving direct owner transactions and a focus on industrial equipment.

Tourism Destinations: Tourism destinations, including coastal cities and desert areas, have distinctive demands for OTR tires. Off-road and 4x4 vehicles are favored in desert destinations, serving the tourism and adventure activities sector. Coastal cities often witness interest in compact OTR tires for tourism and transportation, reflecting the needs of the tourism and transportation sectors. The availability of used OTR tires from rental car fleets is a notable trend in tourism hubs, reflecting well-maintained fleet vehicles.

These regional insights provide a detailed view of how the OTR Tire Market adapts to diverse characteristics and consumer preferences within different emirates and areas in the UAE. The various regional trends underscore the market's ability to cater to a broad spectrum of applications and demands across the country's diverse landscape. As the market continues to evolve, regional dynamics remain pivotal in comprehending the broader trends and growth factors within the UAE's OTR tire industry.

 

Major companies operating in UAE OTR Tire Market are:

• Yokohama Tyres UAE
• Trelleborg Wheel Systems Middle East Ltd
• Michelin Tyres
• Balkrishna Industries Limited (BKT)
• Continental ME
• Goodyear Middle East FZE
• Bridgestone Middle East FZE
• TVS Srichakra Limited
• Apollo Tyres Middle East FZE
• Peltas Tyres (AKO Group)

 

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“The automotive industry anticipates robust growth in the UAE Electric Vehicle (EV) Market. The combination of favorable government policies, private investments, and strategic partnerships has created a conducive environment for EV adoption. The country's goal of having 50% of vehicles on its roads be electric by 2050 aligns with global sustainability trends, and the UAE's commitment to electric mobility is expected to shape the future of transportation in the region. As the market evolves, it offers substantial opportunities for both local and international players, making the UAE a key player in the global electric vehicle landscape” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“UAE OTR Tire Market By Vehicle Type (Agriculture, Construction, Mining, Material Handling), By Tire Construction (Radial, Bias), By Demand Category (OEM and Replacement), Regional, Competition, Forecast & Opportunities, 2018-2028”, has evaluated the future growth potential of UAE OTR Tire Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in UAE OTR Tire Market  

 

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