Oman Tire Market Analysis, 2021 research report depicts a deep dive market analysis of statistics of Oman Tire market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
Impact of COVID-19 on Tire
Oman had 120, 718 confirmed cases in November 2020, therefore all the schools and other activities such as construction and development activities were suspended due to the enlarging number of cases of coronavirus. The halt in the country led to the disruption of supply chain and impacted the imports of tires from other countries.
According to MarkNtel Advisors’ research report “Oman Tire Market Analysis, 2021”, the Oman Tire market is anticipated to grow at a considerable CAGR during 2021-26. Oman is an import driven market and the tires are majorly imported from UAE, China, Japan, Thailand, India, Singapore, etc. The major growth factors for the tires is owing to the rising population and preference for luxury passenger vehicles.
Run Flat Tires is Witnessing a Significant Growth
The run flat tires is a technology which enables a vehicle to run on the road for around 80 km even when the air loss or puncture is detected. This innovation contributes in saving the materials since spare tires are not required in the vehicles. Conventional tires use pressurized air to support the weight of the vehicle. However, when the tire is punctured, air escapes and the weight of the vehicle is no longer supported, giving rise to flat tires. Bridgestone launched Run Flat Tires which are also available in Oman supporting speed of around 80km/h as revealed by the MarkNtel Advisors’ research report “Oman Tire Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Oman Tire market include Bridgestone Corporation, Sumitomo Rubber, Compagnie Générale Des Établissements Michelin, Yokohama Rubber, Pirelli & C.Spa, Hankook Tire Co., Toyo Tire & Rubber Company Ltd, Continental, Apollo Tyres, Goodyear Tires, etc.
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 on Oman Tire Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
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.
Q. What would be the growth rate or CAGR of Oman Tire Market during 2021-26?
A. The growth rate of Oman Tire Market during 2021-26 is forecast to grow at a considerable CAGR.
Q. Who are the key competitors or players operating in Oman Tire Market?
A Bridgestone Corporation, Sumitomo Rubber, Compagnie Générale Des Établissements Michelin, Yokohama Rubber, Pirelli & C.Spa, Hankook Tire Co., Toyo Tire & Rubber Company Ltd, Continental, Apollo Tyres, Goodyear Tires, etc. are few of the leading players in the Oman Tire Market.
Q. Which type of tire segment would emerge as an opportunity area for players in Oman Tire Market?
A. Radial segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which type of vehicle would emerge as an opportunity area for players in Oman Tire Market?
A. Passenger car grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of Oman Tire Market.