Israel is a densely populated country with the presence of large vehicle fleet size. The country has high motorization rate of more than 360 vehicles per inhabitants. Moreover, the country is entirely import driven and imports vehicles from United States, South Korea, and France. Thus, the country is becoming a prominent hothouse for the automotive technology. After General motors opened its research center in the country, leading OEMs such as BMW, Hyundai, Bosch, and Lear also opened their research centers paving the way for tires market.
According to the MarkNtel Advisors’ research report, “Israel Tire Market Analysis, 2020”, the country’s tire market is set to swell at a CAGR of around 4.6% in terms of unit sold during 2020-25. Total sales of vehicles in the country was around 0.271 million in 2018 as compared to 0.286 million in 2017. The sales in the year 2018 decline due to macroeconomic factors.
Replacement Demand Led the Israel Tire Market
The manufacturing of automobiles in Israel is negligible, and the market is entirely import driven. Therefore, the country’s tire market is dominated by replacement of tires. With the increasing demand for passenger cars on account of increasing tourist vehicles have been pushing the in the demand for replacement tires in the passenger car category.
Radial tires dictates the Israel tire market. The adoption of radial tires is slower in MHCV and OTR segment in comparison to the passenger car segment. Due to improved sidewalls, the bias tires still witness the demand from the OTR segment of the country. Radial tires acquire almost 90% of the passenger car vehicles segment. Thus, the demand for radial tires is projected to witness a rise in forthcoming years.
All-season tires dominate the Israel tire market as the country climatic conditions are hot and humid resulting in the propelled demand for all-season tires. As Israel is an import driven market, the country has a vast presence of strong dealers and distributors network catering to the demand of customers. The prevalence of online sales is almost negligible. The demand for sales through online channels is expected to boost from the urban area in the country. The prevalence of online sales is almost negligible. The demand for sales through online channels is expected to boost from the urban area in the country.
According to the MarkNtel Advisors the major leading players are Alliance Tires, Giti, Bridgestone, Continental, Hancoock, Michelin, Pirelli, Toyo, Sumitomo, Goodyear Tire among others. Alliance tyres is considered to be the only domestic manufacturing unit in the country. The company was acquired by Mahansaria family and Warburg Pincus in 2018.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report Israel Tire Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecasted up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of Unit sold (Thousand Units).
Q. What would be the growth rate or CAGR of Israel Tire Market during 2020-25?
A. The market size of Israel Tire Market during 2020-25 is forecast to be around 4.6%.
Q. Who are the key competitors or players operating in Israel Tire Market?
A. Alliance Tires, Giti, Bridgestone, Continental, Hancoock, Michelin, Pirelli, Toyo, Sumitomo, Goodyear Tire and few others are the leading players in the Israel Tire Market.
Q. Does the report scope cover tire rim size wise market statistics also?
A. Yes, the scope of the report encompasses detailed tire rim size wise statistics such as market size, market segmentation, market overview based on various subcategories.
Q. Which region grabbed the highest market share and emerge as an opportunity area for players in Israel Tire Market?
A. Based on the region, the South region is home to leading manufacturing companies such as MRF and Apollo. MRF as its manufacturing base in Kerala, Puducherry, Arakonam, Tamil Nadu and Telangana and Goa. Moreover, companies are now focusing on setting up units in Gujarat due to its vast coastline and cross-border trade. The units sold in South region were estimated to be around 32.85% as compared to 30.10% in West in 2018.
Q. Which Tire type segment would emerge as an opportunity area for players in Israel Tire Market?
A. Radial tires dictates the Israel tire market. The adoption of radial tires is slower in MHCV and OTR segment in comparison to the passenger car segment. Due to improved sidewalls, the bias tires still witness the demand from the OTR segment of the country. Radial tires acquire almost 90% of the passenger car vehicles segment. Thus, the demand for radial tires is projected to witness a rise in forthcoming years.
Q. Which season tire type segment would emerge as an opportunity area for players in Israel Tire Market?
A. Based on the season tire type, All-season tires dominate the Israel tire market as the country climatic conditions are hot and humid resulting in the propelled demand for all-season tires.
Q. Which sales Channel segment would emerge as an opportunity area for players in Israel Tire Market?
A. As Israel is an import driven market, the country has a vast presence of strong dealers and distributors network catering to the demand of customers. The prevalence of online sales is almost negligible. The demand for sales through online channels is expected to boost from the urban area in the country. The prevalence of online sales is almost negligible. The demand for sales through online channels is expected to boost from the urban area in the country.
