GCC Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022



The market for tires in the GCC region was 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. Moreover, the flagships brands are employing various marketing techniques to create opportunities in the areas related to the automobile industry, such as introducing car accessories and providing F&I (finance and insurance) services.  This has contributed significantly in enhancing their profit margins. According to the latest report by IMARC Group titled, “GCC Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the GCC tire market reached a volume of nearly 40 Million Units in 2016, growing at a CAGR of more than 6% during 2009-2016.

In the GCC countries, only a small section of consumers contributes to the sales of new vehicles, whereas, the majority of them prefer used vehicles. As a result, there is a high demand for tires, particularly replacement tire, for the used cars. This emerges as a major force behind the growth of the tire market in the region. Apart from this, many consumers also like upgrading and customising their vehicles, and change tires as per their requirements. Some of the other growth inducing factors include rising immigration rates and the establishment of local tire manufacturing facilities. Further, the market is expected to reach a volume of around 55 Million Units by 2022.

The market is segmented on the basis of type, including OEM and replacement tires. An evaluation of the market on the basis of key applications is also given, which include passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The market is also segmented on a regional basis, covering the major GCC countries. These include Saudi Arabia, UAE, Kuwait, Qatar, Bahrain, and Oman. Amongst these, Saudi Arabia represents the largest market for tires, followed by UAE and Kuwait. An analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players are Bridgestone, Michelin, Continental, Goodyear and Yokohama.

This report provides a deep insight into the GCC tire industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a tire manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the GCC tire industry in any manner.


Key Questions Answered in This Report:

  • How has the GCC tire market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the GCC tire industry?
  • What are the key application segments in the GCC tire industry?
  • What are the price trends of tire?
  • What are the various stages in the value chain of the GCC tire industry?
  • What are the key driving factors and challenges in the GCC tire industry?
  • What is the structure of the GCC tire industry and who are the key players?
  • What is the degree of competition in the GCC tire industry?
  • What are the profit margins in the GCC tire industry?
  • What are the key requirements for setting up a tire manufacturing plant?
  • How is tire manufactured?
  • What are the various unit operations involved in a tire manufacturing plant?
  • What is the total size of land required for setting up a tire manufacturing plant?
  • What are the machinery requirements for setting up a tire manufacturing plant?
  • What are the raw material requirements for setting up a tire manufacturing plant?
  • What are the packaging requirements for tire?
  • What are the transportation requirements for tire?
  • What are the utility requirements for setting up a tire manufacturing plant?
  • What are the manpower requirements for setting up a tire manufacturing plant?
  • What are the infrastructure costs for setting up a tire manufacturing plant?
  • What are the capital costs for setting up a tire manufacturing plant?
  • What are the operating costs for setting up a tire manufacturing plant?
  • What will be the income and expenditures for a tire manufacturing plant?
  • What is the time required to break-even?

1    Preface
2   Scope and Methodology

    2.1   Objectives of the study
    2.2   Stakeholders
    2.3   Data Sources
        2.3.1 Primary Sources
        2.3.2 Secondary Sources
    2.4    Market Estimation
        2.4.1 Bottom-Up Approach
        2.4.2 Top-Down Approach
    2.5   Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Tire Industry
    5.1    Market Overview
    5.2    Market Performance
        5.2.1    Volume Trends
        5.2.2    Value Trends
    5.3    Market Breakup by Region
    5.4    Market Breakup by Type
    5.5    Market Breakup by Application
    5.6    Market Forecast
6    GCC Tire Industry 
    6.1     Market Overview
    6.2    Market Performance
        6.2.1 Volume Trends
        6.2.2 Value Trends
    6.3    Market Breakup by Region
    6.4    Market Breakup by Type
    6.5    Market Breakup by Application
    6.6    Market Forecast
    6.7   SWOT Analysis
        6.7.1    Strengths
        6.7.2    Weaknesses
        6.7.3    Opportunities
        6.7.4    Threats
    6.8    Value Chain Analysis
    6.9   Porter’s Five Forces Analysis
        6.9.1    Overview
        6.9.2    Bargaining Power of Buyers
        6.9.3    Bargaining Power of Suppliers
        6.9.4    Degree of Competition
        6.9.5    Threat of New Entrants
        6.9.6    Threat of Substitutes
    6.10    Key Success and Risk Factors for Manufacturers
7   Performance of Key Regions
    7.1    Saudi Arabia 
        7.1.1    Market Overview
        7.1.2    Market Performance
        7.1.3    Market by Type
        7.1.4    Market Breakup by Application
        7.1.5    Market Forecast
        7.1.6    Key Players
    7.2     UAE
        7.2.1    Market Overview
        7.2.2    Market Performance
        7.2.3    Market by Type
        7.2.4    Market Breakup by Application
        7.2.5    Market Forecast
        7.2.6    Key Players
   7.3   Other Major Markets in GCC Region
       7.3.1 Kuwait
       7.3.2 Qatar
       7.3.3 Bahrain
       7.3.4 Oman
8   Market by Type
   8.1 OEM
   8.2 Replacement
9 Market by Application
   9.1 Passenger Vehicles
   9.2 Light Commercial Vehicles
   9.3 Heavy Commercial Vehicles
10 Competitive Landscape
   10.1 Competitive Structure
   10.2 Market Share of Key Players
11    Tire Manufacturing Process
   11.1    Product Overview
   11.2    Detailed Process Flow
   11.3    Various Types of Unit Operations Involved
   11.4    Mass Balance and Raw Material Requirements
12    Project Details, Requirements and Costs Involved
   12.1    Land Requirements and Expenditures
   12.2    Construction Requirements and Expenditures
   12.3    Plant Machinery
   12.4    Machinery Pictures
   12.5    Raw Material Requirements and Expenditures
   12.6    Raw Material and Final Product Pictures
   12.7    Packaging Requirements and Expenditures
   12.8    Transportation Requirements and Expenditures
   12.9    Utility Requirements and Expenditures
   12.10   Manpower Requirements and Expenditures
   12.11   Other Capital Investments
13    Loans and Financial Assistance
14    Project Economics

    14.1    Capital Cost of the Project
    14.2    Techno-Economic Parameters
    14.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    14.4    Taxation and Depreciation
    14.5    Income Projections
    14.6    Expenditure Projections
    14.7    Financial Analysis
    14.8    Profit Analysis
15 Key Player Profiles
   15.1 Bridgestone
   15.2 Michelin
   15.3 Continental
   15.4 Goodyear
   15.5 Yokohama


List of Figures

Figure 1: Global: Tire Industry Overview
Figure 2: Global: Tire Market: Volume Trends (in Million Units), 2009 -2016
Figure 3: Global: Tire Market: Value Trends (in Million US$), 2009 -2016
Figure 4: Global: Tire Market: Breakup by Region (in %), 2016
Figure 5: Global: Tire Market: Breakup by Type (in %), 2016
Figure 6: Global: Tire Market: Breakup by Application (in %), 2016
Figure 7: Global: Tire Market Forecast: Volume Trends (in Million US$), 2017-2022
Figure 8: Global: Tire Market Forecast: Value Trends (in Million US$), 2017-2022
Figure 9:  GCC: Tire Industry Overview
Figure 10:  GCC: Tire Market: Volume Trends (in Million Units), 2009 -2016
Figure 11: GCC: Tire Market: Value Trends (in Million US$), 2009 -2016
Figure 12: GCC: Tire Market: Breakup by Region (in %), 2016
Figure 13: GCC: Tire Market: Breakup by Type (in %), 2016
Figure 14: GCC: Tire Market: Breakup by Application (in %), 2016
Figure 15: GCC: Tire Market Forecast: Volume Trends (in Million Units), 2017-2022
Figure 16: GCC: Tire Market Forecast: Value Trends (in Million US$), 2017-2022
Figure 17: GCC: Tire Industry: SWOT Analysis
Figure 18: GCC: Tire Industry: Value Chain Analysis
Figure 19: GCC: Tire Industry: Porter’s Five Forces Analysis
Figure 20: Saudi Arabia: Tire Market: Volume Trends (in Million Units), 2009-2016
Figure 21: Saudi Arabia: Tire Market: Breakup by Type (in %), 2016
Figure 22: Saudi Arabia: Tire Market: Breakup by Application (in %), 2016
Figure 23: Saudi Arabia: Tire Market Forecast: Volume Trends (in Million Units), 2017-2022
Figure 24: Saudi Arabia: Tire Market: Market Share of Key Players (in %), 2016
Figure 25: UAE: Tire Market: Volume Trends (in Million Units), 2009-2016
Figure 26: UAE: Tire Market: Breakup by Type (in %), 2016
Figure 27: UAE: Tire Market: Breakup by Application (in %), 2016
Figure 28: UAE: Tire Market Forecast: Volume Trends (in Million Units), 2017-2022
Figure 29: UAE: Tire Market: Market Share of Key Players (in %), 2016
Figure 30: GCC: Tire Market: OEM (in Million Units), 2009, 2016 & 2022
Figure 31: GCC: Tire Market: Replacements (in Million Units), 2009, 2016 & 2022
Figure 32: GCC: Tire Market: Passenger Vehicles (in Million Units), 2009, 2016 & 2022
Figure 33: GCC: Tire Market: Light Commercial Vehicles (in Million Units), 2009, 2016 & 2022
Figure 34: GCC: Tire Market: Heavy Commercial Vehicles (in Million Units), 2009, 2016 & 2022
Figure 35: Tire Manufacturing Plant: Detailed Process Flow
Figure 36: Tire Manufacturing Process: Conversion Rate of Products
Figure 37: Tire Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 38: Tire Industry: Profit Margins at Various Levels of the Supply Chain
Figure 39: Tire Production: Manufacturing Cost Breakup (in %)


List of Tables

Table 1: Global: Tire Market: Key Industry Highlights, 2016 and 2022
Table 2: GCC: Tire Market: Key Industry Highlights, 2016 and 2022
Table 3: GCC: Tire Market Forecast: Breakup by Region, 2017-2022
Table 4: GCC: Tire Market Forecast: Breakup by Type, 2017-2022
Table 5: GCC: Tire Market Forecast: Breakup by Application, 2017-2022
Table 6: Tire Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 7: Tire Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 8: Tire Manufacturing Plant: Costs Related to Machinery (in US$)
Table 9: Tire Manufacturing Plant: Raw Material Requirements
Table 10: Tire Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 11: Tire Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 12: Details of Financial Assistance Offered by Financial Institutions
Table 13: Tire Manufacturing Plant: Capital Costs (in US$)
Table 14: Tire Manufacturing Plant: Techno-Economic Parameters
Table 15: Tire Manufacturing Plant: Taxation and Depreciation
Table 16: Tire Manufacturing Plant: Income Projections (in US$)
Table 17: Tire Manufacturing Plant: Expenditure Projections (in US$)
Table 18: Tire Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 19: Tire Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 20: Tire Manufacturing Plant: Profit and Loss Account


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