Passenger Car Segment to Continue its Dominance in Kuwait Tyre Market until 2020

 Growing automobile sales and booming construction sector are expected to drive Kuwait tyre market over the next five years

According to TechSci Research report, “Kuwait Tyre Market Forecast and Opportunities, 2020”, tyre market in Kuwait is forecast to witness robust growth during 2015 – 2020 on account of rising automobile sales and expansion of automobile fleet. Automobile fleet in Kuwait is dominated by the passenger cars, accounting for more than 84% of the country’s fleet in 2015. High rate of vehicle ownership coupled with continuously growing passenger car fleet is expected to drive the demand for passenger car tyres at a brisk pace over the forecast period.

Implementation of new technologies such as “Seal Inside” technology and “Black / White Walled” tyres is expected to positively influence the country’s tyre market in the coming years. These tyres are expected to register healthy growth as a result of the increasing consumer preference towards enhancing vehicle safety. Various major tyre players are also expected to introduce eco-friendly tyres in the country over the course of next five years.
“High purchasing power of Kuwaitis coupled with the rising demand for passenger cars would contribute significantly to the demand for tyres in the country through 2020. While increasing per capita income is driving growth of passenger car market, continuing surge in mining and oil drilling activities in the country is contributing to the growth of commercial vehicles market, thereby driving the country’s tyre market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Kuwait Tyre Market Forecast and Opportunities, 2020” has evaluated the future growth potential of Kuwait tyre market and provides statistics and information on market structure and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in Kuwait tyre market.