Sudan, a country with high oil production & a large influx of foreign direct investments, is highly opportunistic for the automotive & tire industry. Since it is undergoing various infrastructural developments, the demand for commercial vehicles is escalating swiftly, i.e., positively impacting the tire industry. As a result, Sudan is expecting the active participation of prominent automakers & tire manufacturers in expanding their scalability across the country in the coming years.
The Sudan Tire Market is projected to grow at a considerable CAGR during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven primarily by the rapidly increasing vehicle fleet, owing to the improving economic conditions of people & their growing inclination toward private vehicle ownership, coupled with mounting awareness about the importance of timely replacement of tires & keeping a check on their conditions.
Additionally, the rising government focus on infrastructural developments to boost the country's economy is leading to several constructions associated with highways, residential complexes, etc., thereby propelling the demand for heavy commercial vehicles & their tires.
Moreover, the various initiatives by the government of Sudan toward strengthening its agriculture sector are infusing the need for agriculture equipment in the country, which, in turn, is positively influencing the demand for Off-the-Road (OTR) tires and augmenting the growth of the tire market.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Key Companies Profiled||MRF Limited, Bridgestone Middle East and Africa, Apollo Tyres, Michelin AIM FZE, CEAT Limited, Continental Aktiengesellschaft, Alliance Tire Co. Ltd., JK Tyre & Industries Ltd., Hangzhou Zhongce Rubber Co., LTD., Triangle Tyre Co. Ltd.|
|Unit Denominations||USD Million/Billion|