Market Research Report

Egypt Truck & Bus Radial Tire Market Research Report: Forecast (2024-2030)

Egypt Truck & Bus Radial Tire Market Report - By Type of Vehicle (Truck, Bus), By Application (Public Transport, General Cargo Transport, Chemicals Transportation, Building & Const...ruction , Others (Agriculture Transportation, Dairy Transport, etc.)), By Price Category (Budget, Economy, Premium), By Tire Size (Tire Size 1, Tire Size 2, Tire Size 3, Tire Size 4, Tire Size 5), By Sales Channel (Direct Sales, Online, Multi-brand Stores, Exclusive Outlets), By Demand Type (OEM, Replacement), and Others Read more

  • Tire
  • Aug 2024
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  • PDF, Excel, PPT

Market Insights & Analysis: Egypt Truck & Bus Radial Tire Market (2024-30):

The Egypt Truck & Bus Radial Tire Market size is estimated to grow at a CAGR of around 3.5% during the forecast period, i.e., 2024-30. The market is proliferating due to the country’s high and rapid growth of the projects related to the development of infrastructure, and rapid industrialization and urbanization, which ultimately augments the demand for high-performance radial tires and thrives the Egypt Truck & Bus Radial Tire Market. Both vehicles buses and trucks have their application in different areas such as public transport, general cargo, chemical transportation, building & construction, agriculture & dairy transportation. The radial tires come in different price categories budget, economy, and premium. And, the use of radial tires is promoted due to their greater performance, durability, and not so high price than bias tires.

The high growth is also contributed by different sales channels available for consumers, including direct sales, online, multi-brand stores, and exclusive outlets. The demand comes from the original equipment manufacturer (OEM) or for the replacement of old tires due to wear and tear. Also, due to the growing focus on the continuous improvement of the country’s infrastructure and the encouragement of industrialization and urbanization plans, the all-time demand for buses and trucks is one of the major growth drivers for the market.  As for transportation of raw materials and individuals from one place to another, these vehicles are very useful, which lets their demand higher every time, which ultimately creates the demand for efficient tires and boosts the bus and truck radial tire industry in the country.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 3.5%
Region Covered Cairo, Dakahlia, Gaza, Alexandria, Others
Key Companies Profiled Bridgestone Corporation, Michelin, Continental AG, The Goodyear Tire & Rubber Company, The Yokohama Rubber Company Ltd., Dunlop Tire, Prometeon Tyre Group S.r.l., Trenco Transport and Engineering Co., Triangle Tire Co., and others 
Unit Denominations USD Million/Billion

 

However, one major factor that can slow down the growth of the bus & truck radial tires market is the use of retreading tires, they are prepared by remolding old tires and are less costly compared to new tires. Also, some of the benefits associated with the use of retreading tires, including, their cost effectiveness, help in sustainability, same level of safety and performance, efficiency, creating the demand for retreading tires, and becoming a challenge for the growth & expansion of the Egypt Truck & Bus Radial Tire Market.

Further due to the increasing adverse effects of a poor environment, there is an increasing focus on sustainability and innovating eco-friendly solutions for tire manufacturing, use, and disposal. Along with this, the use of Electronic vehicles is promoted in the country to reduce carbon emissions and for a healthy environment. The growing number of initiatives and subsidies provided by regional & international organizations for the deployment of Electric buses and trucks is going to attract a large number of consumer institutes and industries and further will create the demand for radial tires for buses and trucks. Thus the demand for radial tires for buses and trucks in the country is expected to rise in the future as well, which will augment the size & volume of the Egypt Truck & Bus Radial Tire Market in the coming years.


Egypt Truck & Bus Radial Tire Market Research Report: Forecast (2024-2030)

Egypt Truck & Bus Radial Tire Market Driver:

Increasing Government Investments in Infrastructural Development & Urbanization-Related Projects – In the rapidly changing world, every economy wants to grow fast and increase its global presence. Therefore, there is a rising focus on the development of high-class infrastructure & industrial development, and to accommodate a large number of individuals, urbanization plans are also gaining traction in Egypt. In this type of big project, and development plan, there is a requirement for huge raw materials, and for their transportation heavy-duty vehicles are employed. So the demand for trucks is increasing in construction and manufacturing-related projects. On the other hand, for the developed infrastructure and urban settlements, there is an increasing requirement for buses to transport individuals from one place to the other, which ultimately creates the demand for radial tires and augments the growth & expansion of the industry.

Egypt Truck & Bus Radial Tire Market Opportunity:

Increasing Adoption of Electric Buses & Trucks Offering Ample Growth Opportunities – These days rising awareness and environmental concerns are persuading regional governments and global organizations to think about solutions that are eco-friendly and sustainable for the environment and will help in cutting the emission of carbon & other harmful gases. E-mobility or the adoption of electric vehicles across the globe and regional economies is promoted, Egypt is no exception to this, therefore Electric buses and trucks are starting to gain traction in the country, not yet able to come locally for the public, but increasing investment towards E-mobility will surely help in boosting the market for electric buses and trucks in the future.

For heavy-duty vehicles, there is a requirement for durable and efficient tires, and this requirement is fulfilled by radial tires. In heavy-duty vehicles, like trucks and buses, special attention is given to the efficient and best solutions, and radial tires being better to use in these, durable, and comparatively not so costly than bias tires, are preferred to use. Thus, the promotion of electric buses and trucks in the country will certainly help in the significant expansion of the Egypt Tire & Buses Radial Tire Market.

Egypt Truck & Bus Radial Tire Market Challenge:

Increasing Use of Retreading Tires Hindering Market Growth – Retreading tires are increasingly used in buses and trucks due to their lower prices, and better performance. They consume less amount of fuel compared to the new tires and hence promote energy efficiency and cost-effectiveness. Retreading tires means the tires are remolded by using the rubber of old tires, it doesn’t mean they are low in quality or not durable, therefore consumers prefer the use of retreading tires to save money, thus such preferences of the consumers are hampering the demand of new tires. Along with it, they are as safe as the new tires and perform the same task, so inclining a significant number of consumers towards remolded tires. Therefore, such an increasing inclination towards retreading tires is posing a significant challenge for the key market players.

Egypt Truck & Bus Radial Tire Market Trend:

Sustainable & Eco-Friendly Solutions Gaining Traction – The degrading environment is becoming a serious concern for all governments across the globe. In Egypt also, the condition is the same, the poor environmental conditions lead to air pollution, which contributes to severe problems and becomes a part of the top five risk factors associated with early death and serious diseases.  Therefore, there is an increasing focus on sustainability and producing eco-friendly radial tires. So, many companies are trying to find eco-friendly solutions that can reduce the environmental effects of the production of radial tires, their use, and disposal. They are trying to use sustainable materials in the production process of tires and if possible use recycled products. Focusing on sustainability, the use of retreading tires is also increasing, as they are cost-efficient, and help in reducing the waste generated by the disposed or discarded radial tires. Hence, the increasing popularity of sustainable & eco-friendly solutions in the radial tire industry is changing market dynamics and opening new ways to grow & expand in the coming years.

Egypt Truck & Bus Radial Tire Market (2024-30): Segmentation Analysis

The Egypt Truck & Bus Radial Tire Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the national level. Based on the analysis, the market has been further classified as:

Based on the Type of Vehicle:

  • Bus
  • Truck

In recent years, the truck segment has led the Egypt Truck & Bus Radial Tire Market with the largest market share, and it is estimated that this trend will continue during the forecast period as well. This is mainly due to the high demand from the manufacturing sector for trucks. The increasing growth of the manufacturing sector across the country due to increasing tourism and further urbanization & industrialization is driving the market for radial tires for trucks in the region, as trucks are the main resource used for the transportation of raw materials and finished products in this industry. Regular wear and tear in the tires of trucks in the country owing to huge usage leads to the higher replacement demand. Moreover, Egypt is characterized by heavy cross-border trade volume with neighboring countries, which results in a higher demand for trucks and ultimately for tires. Therefore, such conditions are augmenting the segmental revenue growth in the truck & bus radial tire industry.

Based on Demand Type:

  • OEM
  • Replacement

Among both of these demand types, the largest share is held by the replacement segment. The associated reasons for this high share are the regional climate, the growing tourism sector, and the conditions of roads in Egypt, as there is a difference between road conditions in cities and rural areas. The routes are not in good condition in rural or local areas, which affects the durability of tires and their performance. The regular wear and tear in tires due to the exposure of tires between these different types of routes & varied terrain led to an increase in the demand for frequent replacements of tires. Further, the climate of Egypt varies from hot summers to mild winters, and in temperatures of summers cause the faster degradation of rubber in tires which affects the longevity of tires, ultimately creating the demand for replacement tires.

Egypt Truck & Bus Radial Tire Industry Recent Development:

  • 2024: Prometeon Tyre Group launched its first ever branded tires- the series 02 to carry Prometeon branding in a special ceremony in the shadow of the Giza pyramids in Egypt. These tires will initially be produced at the company’s Alexandria plant and then will be available for the market in Egypt and other MENA nations.
  • 2023: Bridgestone has elevated its commitment to sustainable mobility and digital transformation in the MENA Region, discussed advancements in sustainable EV infrastructure development, adoption of EVs for economic diversification, and increased energy independence during its participation in the Middle East and North Africa Electric Vehicle Show (MENA EV Show).

Gain a Competitive Edge with Our Egypt Truck & Bus Radial Tire Market Report

  1. The Egypt Truck & Bus Radial Tire Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. The Egypt Truck & Bus Radial Tire Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Egypt Truck & Bus Radial Tire Market is expected to grow at a compound annual growth rate (CAGR) of around 3.5% over the forecast period.

   A. The increasing government investments in infrastructural development & urbanization-related projects are expected to drive the Egypt Truck & Bus Radial Tire Market during 2024-30

   A. Bridgestone Corporation, Michelin, Continental AG, The Goodyear Tire & Rubber Company, The Yokohama Rubber Company Ltd., Dunlop Tire, Prometeon Tyre Group S.r.l., Trenco Transport and Engineering Co., Triangle Tire Co., and others are the top companies in the Egypt Truck & Bus Radial Tire Market.

   A. The replacement demand type held the largest share of the Egypt Truck & Bus Radial Tire Market.

   A. The increasing popularity of sustainable & eco-friendly solutions is one of the key trends shaping the growth of the Egypt Truck & Bus Radial Tire Market.

   A. The increasing adoption of electric buses & trucks is one of the growth opportunities driving the Egypt Truck & Bus Radial Tire Market.

   A. The increasing use of retreated tires is one of the possible restraints affecting the growth of the Egypt Truck & Bus Radial Tire Market.

  1. Market Segmentation
  2. Introduction
    1. Research Process
    2. Assumptions
    3. Market Definition
  3. Executive Summary
  4. Egypt Truck & Bus Radial Tire Market Trends & Development
  5. Egypt Truck & Bus Radial Tire Market Dynamics
    1. Drivers
    2. Challenges
  6. Egypt Truck & Bus Radial Tire Market Supply Chain Analysis
  7. Egypt Truck & Bus Radial Tire Market Regulations, Policies, Regulation
  8. Egypt Truck & Bus Radial Tire Market Hotspot & Opportunities
  9. Egypt Truck & Bus Radial Tire Market Analysis, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand)
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Truck-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Bus-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      2. By Application
        1. Public Transport-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. General Cargo Transport-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        3. Chemicals Transportation-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        4. Building & Construction -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        5. Others (Agriculture Transportation, Dairy Transport, etc.) -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      3. By Price Category
        1. Budget -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Economy -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        3. Premium -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      4. By Tire Size
        1. Tire Size 1 -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Tire Size 2 -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        3. Tire Size 3 -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        4. Tire Size 4-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        5. Tire Size 5 -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      5. By Sales Channel
        1. Direct Sales-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Online-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        3. Multi-brand Stores -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        4. Exclusive Outlets -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      6. By Demand Type
        1. OEM-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Replacement-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      7. By Region
        1. Cairo
        2. Alexandria
        3. Giza
        4. Rest of Egypt
      8. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
  10. Egypt Truck Radial Tire Market Outlook, 2019-2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand)
    2. Market Share & Analysis
      1. By Type of Truck
        1. Light Trucks -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Medium & Heavy Trucks -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      2. By Application
        1. General Cargo Transportation-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Chemical Transportation-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        3. Oil & Gas Transportation-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        4. Building & Construction-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        5. Others (Agriculture Transportation, Dairy Transport, etc.)-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      3. By Price Category -Market Size & Forecast 2019-2030, Unit Sold (Thousand)  
      4. By Tire Size -Market Size & Forecast 2019-2030, Unit Sold (Thousand)  
      5. By Demand Type -Market Size & Forecast 2019-2030, Unit Sold (Thousand)  
  11. Egypt Bus Radial Tire Market Outlook, 2019-2030
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand)
    2. Market Share & Analysis
      1. By Type of Bus
        1. Light Buses -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Medium & Heavy Buses -Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      2. By Application
        1. Intercity Transportation-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
        2. Intracity Transportation-Market Size & Forecast 2019-2030, Unit Sold (Thousand)
      3. By Price Category -Market Size & Forecast 2019-2030, Unit Sold (Thousand) 
      4. By Tire Size-Market Size & Forecast 2019-2030, Unit Sold (Thousand) 
      5. By Demand Type -Market Size & Forecast 2019-2030, Unit Sold (Thousand) 
  12. Egypt Truck & Bus Radial Tire Market Key Strategic Imperatives for Success & Growth
  13. Competition Outlook
    1. Company Profiles
      1. Bridgestone Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Michelin
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Continental AG
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. The Goodyear Tire & Rubber Company
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. The Yokohama Rubber Company Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Dunlop Tire
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Prometeon Tyre Group S.r.l.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Trenco Transport and Engineering Co.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Triangle Tire Co.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Others
  14. Disclaimer


Egypt Truck & Bus Radial Tire Market