GCC Tire (Tyre) Market | Share, Size, Research Report and Forecast (2023-2028)

GCC Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A815

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Report Overview:

The GCC tire market size reached US$ 2.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.39% during 2023-2028.

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.

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the GCC tire market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on design, end-use, vehicle type and distribution channel.

Breakup by Design:

Radial
Bias

Breakup by End-Use:

OEM Market
Replacement Market

Breakup by Vehicle Type:

Passenger Cars
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
Light Commercial Vehicles
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
Medium and Heavy Commercial Vehicles
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
Two Wheelers
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
Three Wheelers
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size
Off-The-Road (OTR)
- Market Breakup by Rim Size
- Market Breakup by Tire Size
- Price Ranges by Rim Size

Breakup by Distribution Channel:

Offline
Online

Breakup by Country:

Saudi Arabia
UAE
Others
- Kuwait
- Qatar
- Bahrain
- Oman

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion, Million Units
Segment Coverage	Design, End-Use, Vehicle Type, Distribution Channel, Country
Countries Covered	Saudi Arabia, UAE, Others
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The GCC tire market was valued at US$ 2.8 Billion in 2022.

We expect the GCC tire market to exhibit a CAGR of 5.39% during 2023-2028.

The growing number of regional tire manufacturing facilities, coupled with the expanding automobile fleet, is primarily driving the GCC tire market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations of the GCC, resulting in the temporary closure of numerous manufacturing units for tires.

Based on the design, the GCC tire market can be segmented into radial and bias. Currently, radial design holds the majority of the total market share.

Based on the end-use, the GCC tire market has been divided into OEM market and replacement market, where replacement market exhibits a clear dominance in the market.

Based on the vehicle type, the GCC tire market can be categorized into passenger cars, light commercial vehicles, medium and heavy commercial vehicles, two wheelers, three wheelers, and off-the-road (OTR) Among these, passenger cars account for the majority of the total market share.

Based on the distribution channel, the GCC tire market has been segregated into offline and online. Currently, offline channel holds the largest market share.

On a regional level, the market has been classified into Saudi Arabia, UAE, and Others, where Saudi Arabia currently dominates the GCC tire market.

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