Saudi Arabia Tire Market Report 2024-2032: Rapid Growth in Automobile Sector Fuels Expansion

DUBLIN, March 27, 2024 /PRNewswire/ -- The "Saudi Arabia Tire Market Report by Type, End-Use, Vehicle Type, Size, Distribution Channel, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.

The Saudi Arabia tire market size reached 22.6 Million Units in 2023. The market is projected to reach 25.5 Million Units by 2032, exhibiting a growth rate (CAGR) of 1.32% during 2023-2032.

The Saudi Arabia tire market is predominantly import driven, with a considerable penetration of Chinese tire brands owing to their affordability and easy availability. However, over the past several years, the flagships brands have been gaining momentum as a result of high-quality assurance and extended life cycle of the products they offer.

Rapid development in the automobile sector of Saudi Arabia is contributing to the growth of the tire market. The expanding consumer base supported by the elevating living standards and increasing per capita expenditure on premium vehicle components further augments the market growth. The rising penetration of international tire brands offering high-quality assurance and extended product life has led to their growing presence in Saudi Arabia. Additionally, several regional tire manufacturing companies are entering into strategic partnerships and alliances with international players for expanding their product portfolios, thus leading to product premiumization.

Other factors that will catalyse the demand of tires in Saudi Arabia include increasing number of infrastructure projects, growing construction industry, rising demand for replacement tires, etc.

Key Questions Answered in This Report

• What was the size of the Saudi Arabia tire market in 2023?
• What is the expected growth rate of the Saudi Arabia tire market in 2024-2032?
• What are the key factors driving the Saudi Arabia tire market?
• What has been the impact of COVID-19 on the Saudi Arabia tire market?
• What is the breakup of the Saudi Arabia tire market based on the type?
• What is the breakup of the Saudi Arabia tire market based on the end-use?
• What is the breakup of the Saudi Arabia tire market based on the vehicle type?
• What is the breakup of the Saudi Arabia tire market based on the distribution channel?
• What are the key regions in the Saudi Arabia tire market?
• Who are the key players/companies in the Saudi Arabia tire market?

Competitive Landscape

• Michelin Group
• Bridgestone Corporation
• Continental AG
• Goodyear Tire and Rubber Company
• Sumitomo Corporation
• Pirelli & C. S.p.A
• Yokohama Rubber Company
• Hankook Tire and Technology
• Toyo Tire Corporation
• Kumho Tire

Key Market Segmentation:

Breakup by Type:

• Radial
• Bias

Breakup by End-Use:

• OEM
• Replacement

Breakup by Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two Wheelers
• Off-The-Road (OTR)

Breakup by Size:

• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two Wheelers
• Off-The-Road (OTR)

Breakup by Distribution Channel:

• Offline
• Online

Breakup by Region:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

For more information about this report visit https://www.researchandmarkets.com/r/b0be3c

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected] 
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets