UAE Tire Market to Register 11% CAGR until 2025
Increasing adoption of passenger cars for personal use and pickup trucks for both commercial and personal use coupled with increasing fleet of commercial vehicles to boost UAE tire market
According
to TechSci Research report, “UAE
Tire Market by Vehicle Type, By Radial vs Bias, By Sales Channel, By Region, Competition, Forecast &
Opportunities, 2025”, UAE tire market is
anticipated to grow at over 11% to surpass $ 420 million by 2020, owing to rising
demand for passenger cars including SUVs and sedans due to the increase in off-roading
activities, sports activities, increase of personal use and rising number of tourists
in the country. Low cost of fuel, increasing disposable income of people and good
road conditions are expected to positively influence the tire market in the UAE
during the forecast period. Continuous business expansion of leading tire companies
in the country by enriching their product portfolio and customer outreach
through dealer additions is anticipated to intensify the competition in the country’s
tire market over the course of the next five years. Companies in the UAE are
also introducing more performance-oriented tires to better suit different
driving conditions, which is further anticipated to promote the level of technological
advancements in the UAE tire market. Dubai accounts for the maximum share in
the UAE tire market on account of large fleet of passenger cars, increasing
number of tourists, rising off roading activities and growing number of
construction projects in Dubai.
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UAE tire market can be segmented based on vehicle type, by radial vs bias and by region. In terms of vehicle
type, passenger car tire segment dominates the country’s tire market and the
trend is expected to continue in the forthcoming years as well. Tires for SUVs
will continue to dominate the passenger car tire market due to increasing off
roading and sporting activities across the country. In terms of sales channel, the
offline sales channel for tires in the UAE is dominating the market and will
continue to dominate the market over the next five years. But during the forecast
period, the online sales channel is expected to grow at a robust pace.
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Bridgestone, Michelin, Dunlop, Hankook, Yokohama among others are some
of the leading players operating in UAE tire market. Apart from the flagship
companies, many Chinese players are also increasing their footprint in the UAE
tire market by pushing their low-cost products in the market. “Dubai dominated
the UAE tire market in 2019, backed by increase in passenger car fleet size,
increase in personal transportation and growth of several sporting as well as
off roading activities. Demand for tires is anticipated to increase in Abu
Dhabi and Sharjah regions as well in coming years, on account of rising number
of tourists and on account of increase in commercial projects. The country is
anticipated to undergo major infrastructure transformations in energy,
communication, transport, water, health and housing sectors in the coming years.
This is projected to boost demand for automobiles as well as tires in the
country over medium to long term.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based North America management consulting
firm.
“UAE Tire Market by Vehicle Type, By Radial vs Bias,
By Sales Channel, By Region,
Competition, Forecast & Opportunities, 2025”, has evaluated the future growth potential of UAE 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 tire market.
About TechSci Research
TechSci Research is a leading Latin America market research firm
publishing premium market research reports. Serving 700 Latin America clients
with more than 600 premium market research studies, TechSci Research is serving
clients across 11 different industrial verticals. TechSci Research specializes
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leading technologies and niche applications. Our workforce of more than 100
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tracking Latin America and country specific high growth markets helps TechSci
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