According to the MarkNtel Advisors' research report, "Middle East Two-Wheeler Tire Market Analysis, 2021," the market shall certainly surge at a CAGR of 3.10% during 2021-26 due to the surging adoption of various strategies by automotive OEMs like overseas expansion plans to enlarge their businesses globally and rising government initiatives to support electric motorcycles & scooters. Moreover, a boost in ride-hailing companies and the soaring food delivery market owing to robustly growing internet users further create exponential demand for 2-wheelers, thereby propelling the growth of the two-wheeler tire market in the Middle East region.
Key questions answered in the study
Scooter & Moped Exhibits Fastest Growth
Scooter & Moped tire market is likely to grow at a CAGR of 4.83% in the Middle East Two-Wheeler Tire market over the forecast period during 2021-26. The demand for scooters & mopeds compared to motorcycles is low in the Middle East region. However, countries such as Turkey and Iran have maximum demand for scooters due to the abundant availability of scooter manufacturers and the surging launches of scooters by companies like Hero motors. Furthermore, the rising initiatives to promote environment-friendly technologies to reduce air pollution have also fueled the need for electric scooters. Besides, the introduction of electric scooters by various companies is also likely to impact the overall market growth positively in the forthcoming period.
"Middle East Two-Wheeler Tire Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Two-Wheeler Tire providers across the countries. Moreover, the report also comprehends the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Turkey Registering Astronomical Growth
Turkey is likely to register astronomical growth in the Middle East Two-Wheeler Tire market due to the emerging new range of tires by market players to expand their product portfolio, thereby boosting the competition and growing motorcycle registration in the country. Moreover, other crucial factors likely to propel the market growth in the forecast period are the increasing number of rental scooter platforms entwined with the strong presence of Chinese market players and rapid development of premium bikes & scooters, reveals MarkNtel Advisors in their research report, “Middle East Two-Wheeler Tire Market Analysis, 2021.”
According to MarkNtel Advisors, the key industry leaders in the Middle East Two-Wheeler Tire market are Michelin, Continental, Goodyear Tire & Rubber Company, Maxxis International- Middle East & Africa, Pirelli & C. SpA., Sumitomo Rubber Industries Ltd., Bridgestone, Avon Tyres, Mitas, Anlas Anadolu Lastik AS, etc.