UAE OTR Tire Market to Surpass USD136.01 Million by 2026
Rise in the commercial
activities and growing infrastructural developments are expected to drive the demand
for UAE OTR tire market for the forecast period.
According to TechSci Research report, “UAE
OTR Tire Market By Vehicle Type (Agriculture, Construction, Mining,
Material Handling, Ports, Forestry and Others {Terrain Vehicles, Sports
Vehicles, etc.}), By Demand Category (OEM Vs Replacement), By Rim Size (Up to
25” and Above 25”), By Tire Construction (Radial, Bias), By Region, Competition
Forecast & Opportunities, 2026”, The UAE OTR tire market was valued at USD88.84
million in 2020 and it is expected to stand at USD136.01 million in 2026,
approaching with a CAGR of 6.79% in the forecast period. The rise in
construction, mining, and agricultural activities is driving the demand for OTR
tires in the country. An increase in the adoption of automation technology in
the industrial sector and the heavy usage of machines is fueling the demand for
replacement tires and is thereby accelerating the market growth. The growing
use of OTR tires in dirt bikes and quads for recreational and sports activities
is expected to surge the demand of the OTR tire market growth. The improving
economic status of the country is increasing the need for commercial vehicles
that use the OTR tires. Rapid industrialization and urbanization in the country
owing to the initiatives made by the leading authorities for income diversification
are influencing the UAE OTR tire market’s growth. The leading authorities are
introducing schemes and initiatives to promote the tourism industry which in
turn is expected to boost the economy and the construction industry to attract
more tourists into the country.
However, the volatile raw material prices and the rise
in the gap of demand and supply may restrain the OTR tire market growth for the
forecast period.
Browse 27 Figures spread through 70 Pages and an
in-depth TOC on "UAE OTR Tire Market”.
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UAE
OTR tire market is segmented into vehicle type, demand category, rim size, tire
construction, regional distribution, and company. Based on vehicle type, the
market can be divided into agriculture, construction, mining, material
handling, ports, forestry, and others. The construction followed closely by the
port segment is expected to hold a major UAE OTR tire market share for the
forecast period, 2022-2026. The large number of ongoing construction projects
to improve the economic status of the country is creating the demand for heavy
vehicles which in turn is accelerating the demand for OTR tires. Also, the
development of smart Dubai requires the use of cranes, loaders and dump trucks
to handle the heavyweight over the rough surface. The rise in the development
of the port infrastructure and the presence of upcoming projects such as the
development of Nasir oilfield and expansion of the Jebel Ali Port’s terminal 4
is expected to drive the demand of the port segment. Based on tire
construction, the market is bifurcated into radial and bias. The bias tire
segment is expected to dominate the UAE OTR tire market for the forecast
period, 2022-2026. Bias tire has crosshatch construction and offers a tougher
sidewall than its counterpart. Bias tires are less expensive than radial tires
and are preferred to ride over the rough surface. Based on the demand category,
the market can be divided into OEM and replacement. The replacement segment is
expected to account for major market share for the next five years. An increase
in the average working hours of the machines is fueling the demand for the
replacement tires.
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, and Peltas Tyres (AKO Group) are the
leading players operating in the UAE OTR tire market. Manufacturers are
increasingly focusing on research and development process to fuel higher growth
in the market. To meet evolving customer demand with respect to better
efficiency and durability, several OTR tire manufacturers are coming up with
their technologically advanced offerings.
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“Market
players are making huge investments for the research and development activities
to introduce tires with enhanced features to increase the sales of OTR tires.
The use of advanced technology such as tire management software, tire pressure
monitoring system, and the advent of intelligent tires for real-time analysis
and monitoring the condition of OTR tires by predicting the occurrence of
potential hazards is contributing to the market growth. The integration of
value-added technologies such as embedded sensors, and the use of new compounds
and materials to enhance the properties of OTR tires is expected to propel the
UAE OTR tire market’s growth through 2026” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“UAE OTR Tire Market By Vehicle
Type (Agriculture, Construction, Mining, Material Handling, Ports, Forestry and
Others {Terrain Vehicles, Sports Vehicles, etc.}), By Demand Category (OEM Vs
Replacement), By Rim Size (Up to 25” and Above 25”), By Tire Construction
(Radial, Bias), By Region, Competition Forecast & Opportunities, 2026” has
evaluated the future growth potential of the UAE OTR tire market and provided
statistics and information on market size, shares, 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 the of UAE OTR tire market.
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