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The GCC tire market size reached US$ 2.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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.
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 2022-2027. Our report has categorized the market based on design, end-use, vehicle type and distribution channel.
Breakup by Design:
Breakup by End-Use:
Breakup by Vehicle Type:
Breakup by Distribution Channel:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|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)|
The GCC tire market was valued at US$ 2.6 Billion in 2021.
We expect the GCC tire market to exhibit a CAGR of 5.5% during 2022-2027.
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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