Press Release

Saudi Arabia OTR Tire Market to be Lead by Replacement Demand Segment

The rise in the construction activities and increasing off road activities in the country is expected to drive the market during the forecast period.

According to TechSci Research report, “Saudi Arabia OTR Tire Market – By Region Competition Forecast and Opportunities, 2018-2028.

Saudi Arabia OTR Tire Market is expected to grow because the country is attracting investments from the foreign investors in the infrastructure sector and the OTR tire market in Saudi Arabia accounts for the high demanding segment in the Saudi Arabia market because of increased off road activities and another significant market trend is the increased emphasis on technological advancement for better efficiency. In Saudi Arabia, tire manufacturers are increasingly focusing on developing and manufacturing high-tech tires for automobiles. Several tire manufacturers are developing technologically advanced new tire offerings to meet changing customer demand for improved safety, fuel efficiency, and durability in the OTR tire segment. Furthermore, another market trend is the shift towards online OTR tire sales which has also led to the rise in the demand of the OTR tires in Saudi Arabia.

Furthermore, the government is investing significantly and establishing favorable policies to attract foreign investments in setting up tire manufacturing facilities in the country and expanding their market reach, the ongoing major road projects, metro, and other similar projects in the country has led to the rise in the demand of the OTR tires in the country. The replacement segment in the demand category has witnessed the rise in the demand and in the coming years the demand of this segment in the country is expected to increase because the off-road activities are increasing.

At the same time, the country also plans to create smart cities through its NEOM project and the National Industrial Development & Logistics Program (NIDLP), both of which will help the country's OTR tire industry grow. Additionally, due to the significant volume of OTR tires imported into the nation because of the lack of tire manufacturing facilities in the country, the penetration of foreign tire brands offering high-quality & durable OTR tires is growing throughout Saudi Arabia and boosting the market's overall growth. The government plans to build corporate and manufacturing company hub in Saudi Arabia is also fueling the market growth for the OTR tires as the Saudi Arabia government has planned to switch from the oil-based economy. So, during the forecast period, the demand for OTR tires will rise and all these factors are expected to drive market growth in the country.

Browse more than XX market data Figures spread through XX Pages and an in-depth TOC on " Saudi Arabia OTR Tire Market " 

Saudi Arabia OTR Tire Market can be segmented based on vehicle type, demand category, tire construction type, sales channel, and by region. Based on vehicle type the market is segmented into agriculture, construction, mining and material handling. Based on demand category, the market is segmented into OEM and replacement. The replacement category dominated the segment because OTR tires are highly used in the rough terrains, and this is leading to higher replacement rate of OTR tires. Similarly, based on tire construction type, the market is segmented into radial and bias. The bias segment dominates the segment with higher market share. On the basis of sales channel, the market is further divided into online and offline. On the basis of region, the market is segmented into central, western, eastern, southern, and northern region.

Some of the major companies operating in the Saudi Arabia OTR Tire Market include:

  • Bridgestone Corporation
  • Hankook Tire Co., Ltd.
  • Pirelli & C. S.p.A.
  • Goodyear Tire & Rubber Company
  • Michelin Group
  • Continental AG
  • MRF Limited
  • Apollo Tyres Limited
  • Yokohama Rubber Company, Limited
  • Zhongce Rubber Group Co., Ltd

These are the key OTR tire companies in Saudi Arabia and these companies are implementing competitive strategies such as mergers with the research and development firms, new product developments, and marketing activities to increase customer outreach. These companies are also focusing on meeting the regulations of different regional governments and are also partnering with different research bodies to stay competitive in the market.

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“The utilization of the OTR tires in the Saudi Arabia is expected to rise because of the ongoing rise in the infrastructure projects in the country and in the forecast years the demand of OTR tires will rise at the same time the country is also focusing and in talks with the leading players for inhouse manufacturing of tires in the country, so all these factors will led to growth of the Saudi Arabia OTR tire market” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Saudi Arabia OTR Tire Market - Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028” has evaluated the future growth potential of Saudi Arabia OTR 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 the global Saudi Arabia OTR Tire market.


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