Press Release

Chinese Tire Brands to Continue their Dominance in Saudi Arabia

Expanding vehicle fleet and improving economic condition to boost Saudi Arabia tire market through 2022

According to TechSci Research report, Saudi Arabia Tire Market By Vehicle Type, By Radial Vs, Bias, By Online vs Offline Sales Channel, Competition Forecast & Opportunities, 2012 – 2022, Saudi Arabia tire market is estimated to grow at a CAGR of over 8%, in value terms, during 2017-2022. Ongoing and upcoming government aided construction and infrastructure projects coupled with expanding vehicle fleet is anticipated to push demand for tires in Saudi Arabia over the course of next five years. Moreover, growing purchasing power of the citizens due to the country’s improving economic scenario and rising preference for retreaded tires is further anticipated to positively influence Saudi Arabia tire market during the forecast period.

Browse 50 market data Figures and Tables spread through 94 Pages and an in-depth TOC on "Saudi Arabia Tire Market"

https://www.techsciresearch.com/report/saudi-arabia-tire-market/2811.html

With more than two-third of the volume share in 2016, passenger car tire segment dominated the Saudi Arabia tire market, followed by light commercial vehicles, medium & heavy commercial vehicles, OTR vehicles and two-wheelers. The dominance of passenger car segment is backed by increasing purchasing power parity and continuing growth in the country’s auto lease market. However, with the increasing infrastructure projects in the country, sale of commercial vehicle tires is also expected to increase, thereby pushing the demand for commercial vehicles tires in the coming years. With a cumulative volume share of more than 55% in 2016, Central and Western regions of the country continue to witness high demand for tires. The dominance of these regions is backed by presence of major cities with high population density and pilgrim cities like Mecca and Madinah.

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Over the last few years, dominating presence of various Chinese brands and multinational companies like Bridgestone, Michelin, Hankook, Goodyear, Yokohama and Continental, etc., has been intensifying the market competition in the country. Competitive pricing of Chinese brands makes them a preferable choice among customers, owing to which, their share is expected to further increase during the forecast period. “Government spending on construction and infrastructure sector is expected to be a huge positive for Saudi Arabia tire market.  Furthermore, with rising environment concerns, an increased preference for recycled tires is being witnessed, and this trend is expected to gain more traction in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Saudi Arabia Tire Market By Vehicle Type, By Radial Vs, Bias, By Online vs Offline Sales Channel, Competition Forecast & Opportunities, 2012 – 2022 has analyzed the potential of tire market, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the Saudi Arabia tire market.

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