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The GCC tire market reached a value of US$ 2.5 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.8% during 2021-2026. 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 on different end use sectors. 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, along with forecasts at the regional and country level from 2021-2026. 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:
|Base Year of the Analysis||2020|
|Units||US$ Billion, Million Units|
|Segment Coverage||Design, End-Use, Vehicle Type, Distribution Channel, Region|
|Countries Covered||Saudi Arabia, UAE, Others|
|Customization Scope||10% Free Customization|
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Corporate License $ 3499
|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$ 2.5 Billion in 2020.
We expect the GCC tire market to exhibit a CAGR of 4.8% during 2021-2026.
The growing number of regional tire manufacturing facilities, coupled with the expanding automobile fleet, is currently driving the GCC tire market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the region resulting in temporary closure of numerous manufacturing units for tires.
ased on the end-use, the GCC tire market has been segmented into OEM market and replacement market. Currently, OEM market holds the majority of the total market share.
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 currently exhibit a clear dominance in the market.
On a regional level, the market has been classified into Saudi Arabia, UAE, and Others, including Kuwait, Qatar, Bahrain, and Oman, where Saudi Arabia currently dominates the market.
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