Saudi Arabia Tire

Saudi Arabia Tire Market Research Report Forecast: (2022-2027)

By Vehicle Type (Passenger Cars, Two Wheelers, Light Commercial Vehicles (LCV), Medium & High Commercial Vehicles (MHCV), Off-The-Road Vehicle (OTR)), By Demand (OEM, Aftermarket), By Type of Tire (Ra Read more

  • Tire
  • Apr 2022
  • 138
  • TR10225

Market Definition

As private ownership of vehicles is becoming more of a necessity than a luxury today, vehicle sales are rapidly rising and, in turn, augmenting the production of robust tires. However, people across Saudi Arabia see cars as a status symbol. As a result, the vehicle fleet is likely to rise at a notable pace in the country and portray remunerative prospects for the tire industry over the coming years.

Market Insights

The Saudi Arabia Tire Market is projected to grow at a CAGR of around 8% during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven primarily by the rapidly growing vehicle fleet due to the rising per capita income of people & their mounting inclination toward private ownership of vehicles across Saudi Arabia. It, in turn, is directly influencing the demand for tires and stimulating the overall market growth. 

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR(2022-27) 8%
Region Covered East, West, South, Central 
Key Companies Profiled

Hankook,Bridgestone,Goodyear,Michelin,Continental,Nexen,Toyo,Kumho,Apollo,Others

Unit Denominations USD Million/Billion

 

In addition, the soaring government focus on infrastructural development to diversify the economy away from oil in line with the strategic plan Saudi Vision 2030 is leading to various ongoing & upcoming construction projects throughout the country. It, in turn, is infusing the requirement for different commercial vehicles for multiple applications & boosting the demand for tires.

Besides, the government is also investing substantially and laying out favorable policies to attract foreign investments in setting up tire manufacturing facilities in the country and expand the automotive & tire sectors through 2027. 

  • In March 2019, Continental AG, a German tire & technology company, inaugurated its first office in Jeddah, Saudi Arabia.

Moreover, the increasing population & influx of tourists, pilgrims, & migrants in Saudi Arabia is instigating the need for an extensive commercial sector, which has flooded the construction of airports, shopping malls, hotels, restaurants, etc. As a result, the demand for construction equipment & their robust tires is surging at a phenomenon pace.

On the other hand, the country also aims to build smart cities under its NEOM project and the National Industrial Development & Logistics Program (NIDLP), which shall also contribute to the expansion of the tire industry in the country. Furthermore, since there is a prominent volume of tire imports into the country due to the absence of manufacturing facilities, the penetration of international tire brands providing high quality & durable tires is escalating across Saudi Arabia and fueling the overall market growth.

Impact of Covid-19 on the Saudi Arabia Tire Market

In 2020, the automotive & tire industries witnessed severe impacts of the Covid-19 pandemic and introduced several unprecedented challenges for the leading tire manufacturers in Saudi Arabia. With the imposition of lockdown & strict movement restrictions, tire manufacturers & importers faced massive revenue losses due to a shortage of raw materials, supply chain disruptions, delivery & production delays, & price fluctuations amidst the crisis.

The government of Saudi Arabia didn't put any restrictions on construction activities since they are a prominent source of economic fluidity across the country. It, in turn, propelled the demand for commercial vehicles & tires and enabled the leading players to sustain in the market.

Furthermore, as Covid-19 cases started declining gradually, the government uplifted the restrictions & allowed the recommencement of industrial operations. It enabled the leading players to resume their usual production to cater to the varied end-user requirements. Furthermore, most tire manufacturers adopted online platforms to sell their products via e-commerce websites and offer door-step delivery & installation services to their customers, which further boosted the tire industry amidst the crisis.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Saudi Arabia Tire Market Regulations, Policies and Product Standards
  5. Saudi Arabia Tire Market Trends & Developments
  6. Saudi Arabia Tire Market Dynamics
    1. Growth Drivers
    2. Challenges
  7. Saudi Arabia Tire Market Import Export Statistics
  8. Saudi Arabia Tire Market Value Chain & Stakeholder Margin Analysis
  9. Saudi Arabia Tire Market Outlook 2017- 2027
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type of Vehicles
        1. Passenger Car
        2. Light Commercial Vehicle
        3. Medium and Heavy Commercial Vehicles
        4. Off the Road (OTR)
        5. Two Wheelers
        6. Three Wheeler
      2. By Demand Category
        1. OEM
        2. Aftermarket
      3. By Type of Tire
        1. Radial
        2. Bias
      4. By Sales Channel
        1. Direct Sales
        2. Exclusive Outlets & Multi-brand Stores
        3. Online
      5. By Price Category
        1. Budget
        2. Economy
        3. Premium
      6. By Rim Size
        1. Up to 12”
        2. 12.1” to 15”
        3. 15.1.” to 18”
        4. 18.1” to 20”
        5. 20.1” to 22.5”
        6. 22.6” to 26”
        7. 26.1” to 35”
        8. 35.1” to 47”
        9. Above 47”
      7. By Region
        1. East
        2. West
        3. South
        4. Central
      8. By Company
        1. Competition Characteristics
        2. Volume Shares
  10. Saudi Arabia Passenger Car Tire Market Outlook, 2017- 2027
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Hatchback
        2. Sedan
        3. SUV
      2. By Demand Category
      3. By Type of Tire
      4. By Sales Channel
      5. By Price Category
      6. By Rim Size
      7. By Region
  11. Saudi Arabia Light Commercial Vehicle Tire Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Light Trucks
        2. Light Buses
        3. Pick-up Trucks and Vans
      2. By Demand Category
      3. By Type of Tire
      4. By Sales Channel
      5. By Price Category
      6. By Rim Size
      7. By Region
  12. Saudi Arabia Medium and Heavy Commercial Vehicle Tire Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Buses
        2. Trucks
        3. Ultra-Heavy trucks
      2. By Demand Category
      3. By Type of Tire
      4. By Sales Channel
      5. By Price Category
      6. By Rim Size
      7. By Region
  13. Saudi Arabia Two-Wheeler Tire Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Scooters
        2. Mopeds
        3. Motorcycles
      2. By Demand Category
      3. By Type of Tire
      4. By Sales Channel
      5. By Price Category
      6. By Rim Size
      7. By Region
  14. Saudi Arabia OTR Vehicle Tire Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Earthmoving Equipment
        2. Agricultural Vehicles
        3. Material Handling Vehicles
      2. By Demand Category
      3. By Type of Tire
      4. By Sales Channel
      5. By Price Category
      6. By Rim Size
      7. By Region
  15. Saudi Arabia Three-Wheeler Vehicle Tire Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenue
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Passenger Carrier
        2. Load Carrier
      2. By Demand Category
      3. By Type of Tire
      4. By Sales Channel
      5. By Price Category
      6. By Rim Size
      7. By Region
  16. Saudi Arabia Tire Market Key Strategic Imperatives for Success & Growth
  17. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Target End Users
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Product and Services Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Continental AG
      2. Bridgestone Corporation
      3. Pirelli & C. S.p.A.
      4. Yokohama Rubber Company Limited
      5. Hankook Tire Co., Ltd.
      6. Goodyear Tire & Rubber Company
      7. Toyo Tire and Rubber Company
      8. Michelin Group
      9. Sumitomo Rubber Industries Limited
      10. Apollo Tires
      11. Others
  18. Disclaimer
Saudi Arabia Tire Market Segmentation Slide
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