Press Release

Middle East & Africa UHP Tire Market to Surpass $ 1.6 Billion by 2023

Increasing sales of premium passenger cars and motorcycles coupled with rising focus of OEMs on offering UHP tires in vehicles to aid growth of Middle East & Africa UHP tire market through 2023

According to TechSci Research report, Middle East & Africa Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2023, Middle East & Africa UHP tire market is projected to cross $ 1.6 billion by 2023 on account of growing demand for UHP tires due to rising sales and imports of premium passenger cars and motorcycles in the region. Moreover, UHP tires offer better performance and safety standards, which is further anticipated to push their demand over the coming years. Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Continental AG, Hankook Tire Co., Ltd., Pirelli & C. S.p.A., etc., are some of the major players operating in the Middle East & Africa UHP tire market.

Browse 41 market data Figures and Tables spread through 74 Pages and an in-depth TOC on "Middle East & Africa Ultra High-Performance (UHP) Tire Market"

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Among countries, Saudi Arabia is the major demand generator of UHP tires.  The country dominated Middle East & Africa UHP tire market in 2017 and is likely to maintain its dominance during forecast period as well on the back of surging sales of premium and utility vehicles across the country. Passenger car tire segment accounted for the majority share in the market backed by rising demand for luxury vehicles including sedans, SUVs and CUVs. These vehicles are equipped with UHP tires as they provide better comfort and safety.

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“With augmenting demand for better ride comfort and safety, demand for vehicles equipped with UHP tires is also increasing across Middle East & Africa. Moreover, UHP tires are gaining traction due to their better handling performance. Furthermore, rising technological advancements has resulted in UHP tires being introduced for all seasons, which were earlier available only for summer season. These factors would continue to steer growth in Middle East & Africa UHP tire market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Middle East & Africa Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2023 has analyzed the potential of UHP tire market across Middle East & Africa, 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 Middle East & Africa UHP tire market.


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