Saudi Arabia tire market stood at around
$ 2014 million in 2018 and is forecast to grow at a CAGR of over 6.4%, to cross
$ 2870.9 million by 2024, on account of expanding vehicle fleet size, rising
purchasing power and growing infrastructure and construction sector in the
country. Moreover, development
of smart cities such as ‘NEOM’ and implementation of programs such as National
Industrial Development and Logistics Program (NIDLP) to facilitate the Saudi
Vision 2030 are further driving growth in Saudi Arabia tire market.
Additionally, short replacement period of tires due to extreme weather
conditions in Saudi Arabia along with improving economic
condition is
expected to further push demand for tires in the country during the forecast
period.
Years
considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast the market size
of tire market in Saudi Arabia.
- To classify and forecast Saudi Arabia tire market on the
basis vehicle type, company, region, radial v/s bias and offline v/s online sales
channel.
- To identify drivers and challenges for Saudi Arabia tire market.
- To identify market trends and
developments in Saudi Arabia
tire market.
- To
identify and analyze the profile of leading tire players operating in Saudi
Arabia.
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Some of the major players operating in Saudi Arabia
tire market include Bridgestone
Corporation, Hankook Tire Co., Ltd., Pirelli C. S.p.A., Dunlop (Goodyear Tire
& Rubber Company), Michelin Group, Continental AG, Goodyear Tire &
Rubber Company, Yokohama Rubber Co. Ltd and Toyo Tire & Rubber Co. Ltd.,
etc.
In order to perform the study, TechSci
Research conducted primary as well as exhaustive secondary research. Initially,
TechSci Research prepared an exhaustive list of tire dealers and distributors
operating in different regions of Saudi Arabia. Subsequently, TechSci Research
conducted primary research surveys, which included primary calls, email
responses, etc., with the identified companies. While interviewing, the
respondents were also asked about their major competitors. Through this technique, TechSci Research was able to include distributors
/ dealers which could not be identified due to the limitations of secondary
research. TechSci Research analyzed product offerings, distribution channels
and regional presence of all major tire distributors across the country.
TechSci Research calculated the market size for Saudi Arabia
tire market using a bottom-up technique, wherein replacement tire market data
for different vehicle type (Passenger car, LCV, M&HCV, OTR and Two-wheeler)
was recorded as well as forecast for future
years. TechSci Research sourced these
values from industry experts and company representatives, and externally
validated through analyzing historical sales value data of respective tire
vehicle type to arrive at the overall market size. Multiple secondary sources
such as directories, databases such as The Association of Saudi Arabia
Automotive Industries, Saudi Arabian Rubber Council, Company Websites, company annual reports, white papers,
investor presentations and financial reports were also studied by TechSci
Research.
Key Target
Audience:
- Tire manufacturers, supplier, distributors and other stakeholders
- Associations, organizations, forums and alliances related to tire
market in Saudi Arabia
- Government bodies such as regulatory
authorities and policymakers
- Market research and consulting firms
The study is useful in providing answers to several
critical questions that are important for industry stakeholders such as tire distributors and dealers, customers
and policymakers. The
study would also help them to target the growing segments over the coming years,
thereby aiding the stakeholders in taking right investment decisions and
facilitating their expansion.
Report Scope:
In this report, Saudi Arabia tire market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
- Market, by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
- Off-the-Road Vehicles
- Two-Wheelers
- Market, by Radial vs Bias
- Market, by Online vs Offline Sales
Channel
- Market, by Region:
- Central
- Western
- Eastern
- Southern
- Northern
- Market, by Company:
- Bridgestone Corporation
- Hankook Tire Co. Ltd.
- Pirelli & C. S.p.A.
- Dunlop (Goodyear Tire & Rubber Company)
- Michelin Group
- Others
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major players operating in Saudi Arabia 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