According to the MarkNtel Advisors' research report, "Middle East Two-Wheeler Tire Market Analysis, 2021," the market is likely to grow at a CAGR of around 3.10% during 2021-26. The market growth attributes to burgeoning online food & beverage delivery outlets across the Middle East & the emerging electric motorcycles, owing to the growing government concerns about climate changes & CO2 emissions.
Moreover, the surging inclination of companies to expand their businesses in the Middle East is further leading toward establishing new showrooms, thereby seeming to accelerate the demand for two-wheeler tires in the forecast period. Furthermore, the snowballing millennial inclination toward superbikes, the evolution of the e-commerce sector due to rapid internet penetration, and robustly growing two-wheeler fleet size are other factors to strongly contribute to the growth of the Middle East two-wheeler market in the forthcoming period.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||Middle East & Africa: UAE, Saudi Arabia, Qatar, Turkey, Egypt, Iran, Iraq, Others|
|Key Companies Profiled||Michelin, Continental, Goodyear Tire & Rubber Company, Maxxis International, Pirelli & C. SpA., Sumitomo Rubber Industries Ltd., Bridgestone, Avon Tyres, Mitas, Anlas Anadolu Lastik AS, etc.|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
The COVID-19 outbreak had a considerable impact on the Middle East region. The lockdowns imposition, closed borders, slump in oil prices, and supply chain disruptions have negatively influenced the demand-supply dynamics in various industries, including the automotive sector. As most Middle East countries are import-driven; hence, a halt in the production of tires in export countries has a negative outlook on the replacement market. However, the uplift of lockdown and resumption in activities shall bolster the market growth of two-wheeler tires in the coming years.
Scooter & Moped Grabbed roughly 30% share in the Regional Two-Wheeler Tire Market
Based on the Type of Vehicle, the Scooter & Moped grabbed a 30% market share in the Middle East Two-Wheeler Tire market in 2021. The increasing number of electric vehicles and soaring demand for scooters from working women is likely to boost the sales of scooters & mopeds in the forthcoming years. Further, the boost in the sales & demand for high-end luxury motorcycles and sports bikes in UAE, Saudi Arabia, and Qatar has positively contributed to the Middle East Two-Wheeler Tires market growth.
Besides, the mushrooming number of motorcycle registrations in UAE, Turkey, and Iran and the launch of premium bikes by automotive OEMs promises lucrative growth opportunities for the segment during 2021-26, says MarkNtel Advisors in their research report, "Middle East Two-Wheeler Tire Market Analysis, 2021."
Bias Tires Dominate the Market
Based on Tire Type, Bias Tires dominate the Middle East Two-Wheeler tire market in 2021 due to the burgeoning offerings of Bias tires for two-wheelers by prominent companies of the region. Moreover, nowadays, two-wheeler manufacturers are equipping Bias tires in all their new two-wheelers, thereby strongly contributing to the overall growth of Bias tires in the Middle East.
Iran Accounted for the Largest Market Share
Iran accounted for more than 60% share in the Middle East Two-Wheeler tire market, followed by Egypt and Turkey. In the Middle East, Iran is the only prime hub for two-wheeler tire manufacturing as the rest of the countries are import-driven. The factors augmenting the market growth in Iran are the launch of new scooters & premium bikes by automotive OEMs and surging joint ventures among companies for locally developing electric motorcycles & scooters to encourage environment-friendly technologies and curb carbon emissions.
Rising Two-Wheeler Registration in the region
The rising two-wheeler registration, snowballing demand for motorcycles from both the low & high-end consumers, and increasing sales of high-end luxury motorcycles are factors primarily driving the market growth. Moreover, the burgeoning inclination of millennials toward superbikes and the launch of scooters & premium bikes by automotive OEMs further propel the two-wheeler tire market growth in the Middle East.
Additionally, the surging environmental concerns have also promulgated the demand for electric scooters in the region. The massive investments by companies in electric motorcycle assembly plants and escalating automotive OEMs to expand their operation of electric bikes in Saudi Arabia and Egypt are likely to place a considerable impact on the market growth in the forecast period.
According to MarkNtel Advisors, the major leading players in the Middle East Two-Wheeler Tire market are Michelin, Continental, Goodyear Tire & Rubber Company, Maxxis International- Middle East & Africa, Pirelli & C. SpA., Sumitomo Rubber Industries Ltd., Bridgestone, Avon Tyres, Mitas, Anlas Anadolu Lastik AS, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
A. The measuring units of market size/industry size or the market value are USD Million and units sold.
A. The Middle East Two-Wheeler Tire Market is forecast to grow at a CAGR of 3.10% during 2021-26
A. Michelin, Continental, Goodyear Tire & Rubber Company, Maxxis International- Middle East & Africa, Pirelli & C. SpA., Sumitomo Rubber Industries Ltd., Bridgestone, Avon Tyres, Mitas, Anlas Anadolu Lastik AS are few of the leading players in the Middle East Two-Wheeler Tire Market.
A. The replacement system segment seems to attain the highest CAGR during the forecast period and maintain its significant market share.
A. Iran continues to grow at the highest CAGR, thereby offering immense opportunities to market leaders of the Middle East Two-Wheeler Tire Market.