Saudi Arabia four wheeler tire market was valued at USD2,147.25 million in 2021, and it is anticipated to project robust growth in the forecast period, 2022-2027, with an impressive CAGR value of 10.08% in terms of value, on account of expanding four wheeler fleet in Saudi Arabia. The rapidly increasing number of vehicle sales in the central region is also driving the growth of Saudi Arabia’s four wheeler tire market in the upcoming five years.

Tires are one of the main components that help in moving the vehicle. Tires are filled with compressed air to provide a gripping surface for traction on the surface over which the vehicle travels. Tires are designed to support the absorb road shocks, the weight of the vehicle, braking forces, transmit traction and torque to the road surface, and maintain and change the direction of travel, tires are made of resilient rubber and filled with compressed air, and this fulfills all these four basic functions. Maintaining the proper air pressure in tires is done with the help of an inner tube in the tire, but it alone cannot retain air pressure high enough to support vehicle load, nor is it durable enough to withstand damage or shocks.     

Growth in Ride-Sharing and Taxi Service is Driving Market Growth 

In Saudi Arabia, the demand for used cars has seen growth in recent years. As the number of replaced cars is very high compared to the new one in the country, one of the major reasons behind the increasing number of used cars is that the country has no production facility for the automotive due to which vehicles are imported from another country. In Saudi Arabia, the service sector has seen growth with time, leading to the demand for affordable taxis and ride-sharing services across the country. The usage of both new and used cars for these services has witnessed a massive boom in the past few years. As people prefer to buy a used car which leads to an increase in the replacement ratio of used cars in the country. This surge has resulted in the replacement of tires more frequently due to the prolonged wear of tires in taxis. Therefore, as the number of used cars, taxi services, and ride-sharing services increases in the country, the tire market is susceptible to gaining benefits in the forthcoming years in Saudi Arabia. 

Growing Government Stimulus for Market Revival

The government of Saudi Arabia has introduced incentives in different forms to increase the number of vehicle sales. Saudi Arabia’s government has introduced a fund of USD18.7 billion (SAR 70 billion) or 2.8% of GDP in March 2020 as the private sector support package. The government has included the suspension of government tax payments, fees, and other dues to provide liquidity to the private sector and an increase in available financing through the National Development Fund, as per in the package. In November 2020, Saudi Central Bank (SAMA) announced the extension of the payment deferral program to support the private sector until March-end 2021. In April 2020, the government authorized the use of the unemployment insurance scheme (SANED) to provide support for wage benefits to private sector companies who retain their Saudi staff (SAR 9 billion, 0.4% of GDP) within certain limits. All this support by the government of Saudi Arabia has increased the purchases of cars across the country, and the attractive incentives by the government have given the opportunity to purchase cars at a certain price. By this, the number of vehicles has increased in the country with time. The demand for tires has also increased across the country, showing a positive impact on the Saudi Arabia four wheeler tire market.    

Rising Number of Electric Vehicles

The electric vehicle has seen a massive increase in sales in many countries. Electric vehicles are the future of the automotive industry in the coming years, as electric vehicles emit fewer greenhouse gases and air pollutants than internal combustion engines. Compared to petrol or diesel cars, there are many other advantages of an electric vehicle, such as the electric vehicles have fewer mechanical parts. They do not require maintenance and servicing as frequently as needed for petrol cars. The propulsion noise from the electric vehicle is quieter than the internal combustion engine because, in an electric vehicle, an electron moving from a battery to a motor makes no noise. In recent times, the government of Saudi Arabia has decided that 30% of the vehicles on the roads of Riyadh are going to be electric vehicles by 2030. The increasing demand for electric vehicles has led to an increase in demand for tires specific to electric vehicles like noiseless tires. Such introduction of innovative tire technologies for electric vehicles will result in the growth of the Saudi Arabia four wheeler tire market in the coming up years.

Growing Demand for Radial Tires in the Countries

Technological advancements in tire manufacturing are resulting in the development of radial tires in many regions in the country. In Saudi Arabia, the demand for tires in passenger cars has increased due to its several features, such as good mileage, high durability, and enhanced vehicle performance. The penetration of radial tires in Saudi Arabia is still low in comparison to other countries of the world, thereby generating huge growth opportunities for the demand for radial tires in the region. In Saudi Arabia, with the increasing purchasing power, customers are more inclining towards radial tires due to their expanding economic benefits. The same trend is expected to continue over the next five years.


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Market Segmentation

The Saudi Arabia four wheeler tire market is segmented based on vehicle type, tire construction type, price segment, and region. Based on vehicle type, the market is further fragmented into passenger cars and light commercial vehicles. Based on tire construction type, the market is bifurcated into radial and bias. Based on vehicle type, the passenger car vehicle has accounted for a dominant market share of 80.30% in 2021 among the other vehicles. The increase in passenger cars in Saudi Arabia is due to an increase in the number of imported vehicles in recent times.      

Company Profiles

Bridgestone Corporation, Hankook Tire Co. Ltd., The Goodyear Tire & Rubber Company, The Yokohama Rubber Co., Ltd., Toyo Tire Corporation, Continental AG, Michelin AIM FZE, Pirelli Pneus SA, Sailun Group Co., Ltd., Sumitomo Rubber Industries, Ltd. are among the major market players in Saudi Arabia that lead the market growth of the Saudi Arabia four wheeler tire market.  

Attribute

Details

Market size value in 2021

USD2,147.25 Million

Revenue Forecast in 2027

USD3,639.62 Million

Growth Rate

10.08%

Base Year

2021

Historical Years

2017 – 2021

Estimated Year

2022

Forecast Period

2022 – 2027

Quantitative Units

Revenue in USD Million, Volume in Thousand Units, and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Vehicle Type

·         Tire Construction Type

·         Price Segment

·         Region

·         Company

Region Scope

Central Region, Western Region, Eastern Region, Southern Region, Northern Region.

Key Companies Profiled

Bridgestone Corporation, Hankook Tire Co. Ltd., The Goodyear Tire & Rubber Company, The Yokohama Rubber Co., Ltd., Toyo Tire Corporation, Continental AG, Michelin AIM FZE, Pirelli Pneus SA, Sailun Group Co., Ltd., Sumitomo Rubber Industries, Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Saudi Arabia four wheeler tire market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia Four Wheeler Tire Market, By Vehicle Type:
    • Passenger Car
    • Light Commercial Vehicle (LCV)
  • Saudi Arabia Four Wheeler Tire Market, By Tire Construction Type:
    • Radial
    • Bias
  • Saudi Arabia Four Wheeler Tire Market, By Price Segment:
    • Budget
    • Premium
    • Ultra-Budget
  • Saudi Arabia Four Wheeler Tire Market, By Region:
    • Central Region
    • Western Region
    • Eastern Region
    • Southern Region
    • Northern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia four wheeler tire market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

2.    Research Methodology 

3.    Executive Summary

4.    Impact of COVID-19 on Saudi Arabia Four Wheeler Tire Market

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Aided Brand Recall and Unaided Brand Recall

5.3.  Brand Satisfaction Level

6.    Saudi Arabia Four Wheeler Tire Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Volume and Value

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Passenger Cars, Light Commercial Vehicle (LCV))

6.2.2.     By Tire Construction Type (Radial, Bias)

6.2.3.     By Price Segment (Budget, Ultra Budget, Premium)

6.2.4.     By Region (Central Region, Western Region, Eastern Region, Southern Region, Northern Region)

6.2.5.     By Company (2021)

6.3.  Market Map (By Vehicle Type, By Tire Construction Type, By Price Segment, By Region)

7.    Saudi Arabia Passenger Car Tire Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Volume and Value

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type

7.2.2.     By Tire Construction Type

7.2.3.     By Price Segment

7.2.4.     By Rim Size (Up to 14'', 15"- 17'', Above 17'')

8.    Saudi Arabia Light Commercial Vehicle (LCV) Tire Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Volume and Value

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type

8.2.2.     By Tire Construction Type

8.2.3.     By Price Segment

8.2.4.     By Rim Size (Up to 14'', 15"- 17'', Above 17'')

9.    Passenger Car and LCV Model Wise Tire Sizes

10.  Prominent Tire Sizes By Brands (Passenger Car and LCV)

11.  Tire Sizes Vs Vehicle Applicable Model (Passenger Car and LCV)

12.  Pricing Analysis By Tire Sizes (Passenger Car and Van)

13.  Market Dynamics

13.1.              Drivers

13.2.              Challenges

14.  Market Trends and Developments

15.  Policy & Regulatory Landscape

16.  Import Export Analysis

17.  Supply Chain Analysis

18.  Prominent Dealers/Distributors

19.  Saudi Arabia Economic Profile

20.  Competitive Landscape

20.1.              Bridgestone Corporation

20.2.              Hankook Tire Co. Ltd.

20.3.              The Goodyear Tire & Rubber Company

20.4.              The Yokohama Rubber Co., Ltd.

20.5.              Toyo Tire Corporation

20.6.              Continental AG

20.7.              Michelin AIM FZE

20.8.              Pirelli Pneus SA

20.9.              Sailun Group Co., Ltd.

20.10.            Sumitomo Rubber Industries, Ltd.

21.  Strategic Recommendations

This report also includes excel containing following information:

·         Product benchmarking of prominent tire sizes based on 34 tire specifications broken down by top 5 tire companies across top selling car and LCV models.

·         Passenger Car and LCV model wise Tire Sizes

·         Tire Sizes Vs Vehicle Applicable Models (both Passenger Car and LCV)

·         Market Size and Share of Top 5 Tire Brands, By Top 10 Prominent Tire Sizes for 2020-2025F

·         Market Share and Size, By Company for Top 10 Tire Sizes, 2020, Broken Down into Tier 1 Brands, Low Cost Brands and Chinese Brands

·         Pricing Analysis of Top Tire Sizes By Vehicle Type (including Passenger Car and LCV) based on Average Selling Price, Average Profit Margin For Tire Manufacturer While Selling to the Distributers, Average Margin for Distributers While Selling to the Reseller, and Average Margin for Reseller While Selling to the End User  

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

List of Figures

Figure 1:           Saudi Arabia Four Wheeler Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 2:           Saudi Arabia Four Wheeler Tire Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 3:           Saudi Arabia Four Wheeler Tire Market Share, By Tire Construction Type, By Volume, 2017-2027F

Figure 4:           Saudi Arabia Four Wheeler Tire Market Share, By Price Segment, By Volume, 2017-2027F

Figure 5:           Saudi Arabia Four Wheeler Tire Market Share, By Region, By Volume, 2017-2027F

Figure 6:           Saudi Arabia Four Wheeler Tire Market Share, Market Share, By Company, By Volume, 2021

Figure 7:           Saudi Arabia Four Wheeler Tire Market Map, By Vehicle Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 8:           Saudi Arabia Four Wheeler Tire Market Map, By Tire Construction Type, Market Size (Thousand Units) & Growth Rate (%)

Figure 9:           Saudi Arabia Four Wheeler Tire Market Map, By Price Segment, Market Size (Thousand Units) & Growth Rate (%)

Figure 10:         Saudi Arabia Four Wheeler Tire Market Map, By Region, Market Size (Thousand Units) & Growth Rate (%)

Figure 11:         Saudi Arabia Passenger Car Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 12:         Saudi Arabia Passenger Car Tire Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 13:         Saudi Arabia Passenger Car Tire Market Share, By Tire Construction Type, By Volume, 2017-2027F

Figure 14:         Saudi Arabia Passenger Car Tire Market Share, By Price Segment, By Volume, 2017-2027F

Figure 15:         Saudi Arabia Passenger Car Tire Market Share, By Rim Size, By Volume, 2017-2027F

Figure 16:         Saudi Arabia LCV Tire Market Size, By Volume (Thousand Units) and Value (USD Million), 2017-2027F

Figure 17:         Saudi Arabia LCV Tire Market Share, By Vehicle Type, By Volume, 2017-2027F

Figure 18:         Saudi Arabia LCV Tire Market Share, By Tire Construction Type, By Volume, 2017-2027F

Figure 19:         Saudi Arabia LCV Tire Market Share, By Price Segment, By Volume, 2017-2027F

Figure 20:         Saudi Arabia LCV Tire Market Share, By Rim Size, By Volume, 2017-2027F

Figure 21:         Saudi Arabia Passenger Car Tire Import, By Value, 2016-2020 (USD Million)

Figure 22:         Saudi Arabia Passenger Car Tire Export, By Value, 2016-2020 (USD Million)

Figure 23:         Saudi Arabia Passenger Car Tire Import Share, By Top Five Countries, By Value, 2020

Figure 24:         Saudi Arabia Passenger Car Tire Export Share, By Top Five Countries, By Value, 2020

Figure 25:         Saudi Arabia Commercial Vehicle Tire Import, By Value, 2016-2020 (USD Million)

Figure 26:         Saudi Arabia Commercial Vehicle Tire Export, By Value, 2016-2020 (USD Million)

Figure 27:         Saudi Arabia Commercial Vehicle Tire Import Share, By Top Five Countries, By Value, 2020

Figure 28:         Saudi Arabia Commercial Vehicle Tire Export Share, By Top Five Countries, By Value, 2020


List of Table

Table 1:            List of Prominent Four Wheeler Tire Dealers/Distributors in Saudi Arabia, 2021