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, Dunlop |
| 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.
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. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Assumptions
1.4. Market Segmentation
2. Executive Summary
3. Expert Verbatim- What our Experts Say?
4. Saudi Arabia Tire Market Analysis, 2017-2027
4.1. Market Size & Analysis
4.1.1.Market Revenues
4.1.2.Units Sold
4.2. Market Share & Analysis
4.2.1.By Vehicle Type
4.2.1.1. Passenger Car
4.2.1.2. Two Wheeler
4.2.1.3. Light Commercial Vehicle (LCV)
4.2.1.4. Medium & High Commercial Vehicle (MHCV)
4.2.1.5. Off The Road Vehicle (OTR)
4.2.2.By Demand
4.2.2.1. OEM
4.2.2.2. Replacement
4.2.3.By Type of Tire
4.2.3.1. Radial
4.2.3.2. Bias
4.2.4.By Season
4.2.4.1. All Season
4.2.4.2. Summer
4.2.4.3. Others
4.2.5.By Sales Channel
4.2.5.1. Online
4.2.5.2. Dealers/ Exclusive Outlets
4.2.5.3. Others
4.2.6.By Rim Size
4.2.6.1. Up to 12”
4.2.6.2. 12.1” to 15”
4.2.6.3. 15.1.” to 18”
4.2.6.4. 18.1” to 20”
4.2.6.5. 20.1” to 22.5”
4.2.6.6. 22.6” to 26”
4.2.6.7. 26.1” to 35”
4.2.6.8. 35.1” to 47”
4.2.6.9. Above 47”
4.2.7.By Region
4.2.7.1. East
4.2.7.2. West
4.2.7.3. South
4.2.7.4. Central
4.2.8.By Price Category
4.2.8.1. Low
4.2.8.2. Medium
4.2.8.3. High
4.2.9.By Competitor
4.2.9.1. Market Share & Units Sold By
4.2.9.2. Competitor Strategic Factorial Indexing
4.2.9.3. Competitor Performance in MarkNtel Market Quadrants
4.3. Saudi Arabia Tire Market Attractiveness Indexing
4.3.1.By Vehicle Type
4.3.2.By Season
4.3.3.By Sales Channel
4.3.4.By Rim Size
4.3.5.By Price Category
4.3.6.By Region
5. Saudi Arabia Passenger Car Tire Market Analysis, 2017-2027
5.1. Market Size & Analysis
5.1.1.Market Revenues
5.1.2.Units Sold
5.2. Market Share & Analysis
5.2.1.Vehicle Type
5.2.1.1. SUV
5.2.1.2. Sedan
5.2.1.3. Others
5.2.2.By Demand
5.2.3.By Type of Tire
5.2.4.By Season
5.2.5.By Sales Channel
5.2.6.By Region
5.2.7.By Price Category
5.3. Market Attractiveness Indexing
5.3.1.By Vehicle Type
5.3.2.By Season
5.3.3.By Sales Channel
5.3.4.By Price Category
6. Saudi Arabia Two Wheelers Tire Market Analysis, 2017-2027
6.1. Market Size & Analysis
6.1.1.Market Revenues
6.1.2.Units Sold
6.2. Market Share & Analysis
6.2.1.Vehicle Type
6.2.1.1. Bikes
6.2.1.2. Scooters
6.2.1.3. Others
6.2.2.By Demand
6.2.3.By Type of Tire
6.2.4.By Season
6.2.5.By Sales Channel
6.2.6.By Region
6.2.7.By Price Category
6.3. Market Attractiveness Indexing
6.3.1.By Vehicle Type
6.3.2.By Season
6.3.3.By Sales Channel
6.3.4.By Price Category (Low, Medium, High)
7. Saudi Arabia Light Commercial Vehicle Tire Market Analysis, 2017-2027
7.1. Market Size & Analysis
7.1.1.Market Revenues
7.1.2.Units Sold
7.2. Market Share & Analysis
7.2.1.Vehicle Type
7.2.1.1. Light Trucks
7.2.1.2. Light Bus
7.2.1.3. Pick-up Trucks & Vans.
7.2.2.By Demand
7.2.3.By Type of Tire
7.2.4.By Season
7.2.5.By Sales Channel
7.2.6.By Region
7.2.7.By Price Category
7.3. Market Attractiveness Indexing
7.3.1.By Vehicle Type
7.3.2.By Season
7.3.3.By Sales Channel
7.3.4.By Price Category
8. Saudi Arabia Medium & High Commercial Vehicle Tire Market Analysis, 2017-2027
8.1. Market Size & Analysis
8.1.1.Market Revenues
8.1.2.Units Sold
8.2. Market Share & Analysis
8.2.1.Vehicle Type
8.2.1.1. Trucks
8.2.1.2. Buses
8.2.2.By Demand
8.2.3.By Type of Tire
8.2.4.By Season
8.2.5.By Sales Channel
8.2.6.By Region
8.2.7.By Price Category
8.3. Market Attractiveness Indexing
8.3.1.By Vehicle Type
8.3.2.By Season
8.3.3.By Sales Channel
8.3.4.By Price Category
9. Saudi Arabia Off the Road Vehicle Tire Market Analysis, 2017-2027
9.1. Market Size & Analysis
9.1.1.Market Revenues
9.1.2.Units Sold
9.2. Market Share & Analysis
9.2.1.Vehicle Type
9.2.1.1. Industrial & Mining Equipment
9.2.1.2. Construction Equipment
9.2.1.3. Others
9.2.2.By Demand
9.2.3.By Type of Tire
9.2.4.By Season
9.2.5.By Sales Channel
9.2.6.By Region
9.2.7.By Price Category
9.3. Market Attractiveness Indexing
9.3.1.By Vehicle Type
9.3.2.By Season
9.3.3.By Sales Channel
9.3.4.By Price Category
10. Saudi Arabia Tire Market Value Chain
11. Saudi Arabia Tire Market Regulations, Policies, Product Benchmarks
12. Saudi Arabia Tire Market Trends
13. Saudi Arabia Tire Market Dynamics
13.1. Drivers
13.2. Challenges
14. Saudi Arabia Tire Market Opportunity Areas & Emerging Hotspots
15. Saudi Arabia Tire Market Porter’s Five Forces Analysis
16. Saudi Arabia Tire Market Import & Export Statistics
17. Saudi Arabia Tire Market, Competition Outlook
17.1. Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)
17.1.1. Hankook
17.1.2. Bridgestone
17.1.3. Goodyear
17.1.4. Michelin
17.1.5. Continental
17.1.6. Nexen
17.1.7. Toyo
17.1.8. Kumho
17.1.9. Apollo
17.1.10. Dunlop
18. Disclaimer
