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Saudi Arabia Tire Market Revenue, Size, Growth, Share, Upcoming Trends, Key Manufactures, Business Analysis and Opportunities 2033: SPER Market Research

admin September 16, 2024 Automotive, Business, News

Automotive tires are the cylinder-shaped, rubber-coated, externally visible portion of a car that covers the wheel rim. The main purpose of the tyre is to protect the wheel rim and create tractive force between the car and the road. It also provides a flexible cushion due to its rubber composition, which reduces vibrations and absorbs stress from automobiles. Rubber tires are made up of tread, beading, a jointless cap pile, and other materials including fabric, carbon black, and synthetic rubber.

According to SPER Market Research, ‘Saudi Arabia Tire Market Size- By Product Type, By Vehicle Type, By Design, By Distribution Channel, By End-Use- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Saudi Arabia Tire Market is estimated to reach USD 0.03 billion by 2033 with a CAGR of 2.35%.

Drivers: Saudi Arabia’s tyre market has grown consistently and impressively in recent years. This growth can be ascribed to a variety of factors, including the expansion of the automotive sector and the country’s growing population of vehicle owners. The automotive business in Saudi Arabia has grown significantly, with key firms investing in production facilities and establishing R&D centres. These expenditures have resulted in advances in tire technology and manufacturing methods, making Saudi Arabia tires extremely desirable in both domestic and international markets. Rapid urbanisation and rising disposable incomes have fuelled demand for vehicles, resulting in a huge increase in the tyre industry.

Restraints: The reliance of the Saudi Arabian tyre market on imports is a challenge. Even though the nation has been aggressively promoting the growth of indigenous sectors, such as the tyre industry, a sizable amount of the nation’s tyre supply still comes from imports. Changes in currency values and exchange rates can result in higher tyre prices, which would be more costly for customers. Because rising costs can deter people from replacing their tires as frequently as necessary, this might potentially impede the expansion of the tire market.

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The Covid-19 pandemic had a significant effect on the automotive and tyre industries in 2020, posing various previously unheard-of obstacles for Saudi Arabia’s top tyre producers. Tyre importers and manufacturers suffered enormous financial losses as a result of the crisis’s lockdown and severe movement restrictions, interruptions to the supply chain, delays in delivery and manufacturing, and price swings.

Saudi Arabia’s government has not imposed any limitations on construction projects because they are a major source of economic stability throughout the nation. It consequently increased the need for tires and commercial vehicles and made it possible for the market’s top companies to continue operating.

The Northern & Central area dominates the Saudi Arabian tyre market. This dominance can be linked to a number of factors that together increase the demand for tires in this region, such as urbanisation, infrastructure developments, economic development, and a higher population density. Major players in the market are Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Hankook Tire and Technology, Kumho Tire, Michelin Group, and Others.

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KSA Tire Market Scope

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KSA Tyre Market Share, Growth, Scope, Upcoming Trends, Price, Key Manufactures, Challenges, Future Opportunities and Forecast till 2033: SPER Market Research

admin July 12, 2024 Automotive, Business, News

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A tire is a vital component of vehicles, designed to provide traction, support, and stability while bearing the vehicle’s weight and enduring various road conditions. Typically made from rubber and reinforced with materials like fabric and steel, tires have a layered structure that includes tread, sidewalls, and beads. The tread pattern on the outer surface grips the road, ensuring effective braking and steering. Sidewalls provide flexibility and protect the tire’s inner layers, while beads anchor the tire to the wheel rim. Tires come in diverse types tailored for different vehicles and terrains, such as all-season, winter, off-road, and performance tires. Proper tire maintenance involves monitoring air pressure, tread wear, and overall condition to optimize safety and performance. The evolution of tire technology has led to innovations in materials, construction methods, and tread designs, improving durability, fuel efficiency, and handling characteristics.

According to SPER Market Research, ‘Saudi Arabia Tire Market Size- By Product Type, By Vehicle Type, By Design, By Distribution Channel, By End-Use- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Saudi Arabia Tire Market is estimated to reach USD 0.03 billion by 2033 with a CAGR of 2.35%.

The country’s expanding automotive industry, bolstered by rising vehicle ownership rates and a growing population. Increasing urbanization and infrastructure development further contribute to the demand for tires, as improved road networks necessitate reliable and durable tire solutions. Additionally, government initiatives promoting economic diversification and industrialization are boosting manufacturing activities, including tire production, within the kingdom. Changing consumer preferences towards higher-performance tires, enhanced safety features, and eco-friendly options also shape market trends. Technological advancements in tire manufacturing, such as the integration of smart tire technologies and innovations in materials for improved durability and fuel efficiency, play a crucial role in market expansion.

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The fluctuation in raw material prices, particularly rubber and petroleum-based products, which affects manufacturing costs and overall profitability for tire producers and distributors. Harsh climate conditions, including extreme heat, which can accelerate tire wear and reduce lifespan, necessitating more frequent replacements. Regulatory uncertainties and compliance requirements, both domestically and internationally, pose challenges for tire manufacturers regarding product standards, safety regulations, and environmental sustainability measures. Competition from imported tires, as well as the need for continuous innovation to meet evolving consumer preferences for performance, safety, and eco-friendly attributes. Infrastructure limitations and logistical challenges in distribution and supply chain management across the vast Saudi Arabian territory present operational hurdles for market players.

The Coronavirus pandemic breakout has caused a severe problem for the tire business. Various assembling offices momentarily quite working, and social confinement and lockout prompted a downscaling of creation, which immediately ended yield. Due to work deficiency and a disturbance in the stock of natural substances, functional limit was likewise diminished. Furthermore, the conclusion of stockrooms and development projects got on by the downturn the economy and supply-side issues decreased the interest in tires from a few end-client enterprises, including development, modern, horticulture, and mining. Also, the pandemic jeopardized coordinated factors and transportation activities, and limits on-street travel quickly affected tire supply, which controlled the market’s extension.

KSA Tire Market Key Players:

The largest market share for Saudi Arabia Tire Market is held by Riyadh due to a major economic hub and has the highest concentration of population and vehicles in the country. Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Hankook Tire and Technology, and Kumho Tire are few of the major names in the market.

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KSA Tire Market Analysis

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KSA Automotive Tire Market Trends, Growth, Share, Revenue, Key Manufacturers, Challenges, Business Opportunities, and Forecast till 2023–2033: SPER Market Research

admin March 11, 2024 Automotive, Business, News

A tire is a ring-shaped part that is encircled by the rim of a wheel and serves to both provide grip on the terrain it is traveling over and aid transfer the weight of the vehicle to the ground. The rubber compound and other materials used in tire enable efficient performance in a variety of circumstances. The inner liner, sidewall, tread, body ply, bead, and belts are some of the components that make up a tire. The tire’s structure is formed by the body ply, while the tread region of the tire is strengthened and stabilized by the belt.

According to SPER market research, ‘Saudi Arabia Tire Market Size- By Product Type, By Vehicle Type, By Design, By Distribution Channel, By End-Use- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Saudi Arabia Tire Market is predicted to reach USD 0.03 billion by 2033 with a CAGR of 2.35%.

The market for tires is directly and favourably impacted by the country’s transportation infrastructure. The government has adopted severe vehicle safety standards and regulations, including tire-related criteria. Customers are compelled to update or improve their tires to better accommodate the shifting weather patterns due to climate variability and harsh weather. In the Saudi tire market, innovations like run-flat tires, low rolling resistance tires, and smart tires have become more popular as customers look for tires that provide increased safety, longer lifespans, and higher fuel efficiency. Manufacturers are developing new tire options to meet their changing demands, generating growth through product innovation.

The Saudi Arabian tire market has several major issues, chief among them being the nation’s susceptibility to economic fluctuations. This results in higher tire prices, which would be more expensive for customers. Increased pricing may deter consumers from replacing their tires as frequently as necessary, which could impede the expansion of the tire market. Extreme heat, harsh road surfaces, and rapid weather changes can all lead to frequent tire repairs, increasing consumer car ownership costs. Saudi Arabia has imposed strict laws concerning to tire quality and vehicle safety. For manufacturers, maintaining regulatory compliance while producing high-quality products can be difficult because it necessitates large investments in testing and quality assurance procedures.

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The Covid-19 outbreak had a significant impact on the car and tire industries, posing several hitherto uncommon challenges for Saudi Arabia’s top tire producers. Tire importers and manufacturers suffered enormous financial losses because of the crisis’s lockdown and severe mobility restrictions, interruptions to the supply chain, delays in delivery and production, and price swings. The government removed the ban and permitted the restart of industrial activities when the number of Covid-19 cases began to steadily decline. It made it possible for the major players to continue producing as usual to meet the various end-user needs. Most tire producers used internet platforms to sell their goods on e-commerce websites and provide doorstep delivery and installation services to their clients, which helped the tire business recover after the financial crisis.

Saudi Arabia Tire Market Key Players:

In terms of growth, the Saudi Arabian provinces in the west and centre are predicted to dominate the market during the projected time. These changes follow from a high concentration of tire stores in areas like Mecca, Medina, and Riyadh. Some of the major participants are Bridgestone Corporation, Continental AG, Hankook Tire and Technology, Kumho Tire, Michelin Group, and others.

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Saudi Arabia Tire Market Future Outlook

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Saudi Arabia Tire Market Share, Revenue, Demand, Growth Drivers, Rising Trends, Top Key Players, Challenges and Future Opportunities 2033: SPER Market Research

admin January 23, 2024 Automotive, Business, News

A tyre is a ring-shaped element encompassed by a wheel’s rim that helps to convey the weight of a moving vehicle to the ground while also providing grip on the terrain being travelled. The rubber composition and other components of a tyre enable successful performance in a variety of conditions. A tyre consists of several components, including the body ply, bead, belts, inner liner, sidewall, and tread. The body ply gives the tyre structure, while the belt provides stability and strength to the tyre’s tread zone. Passenger cars, commercial vehicles, two-wheelers, and three-wheelers all need tyres.

According to SPER market research, ‘Saudi Arabia Tire Market Size- By Product Type, By Vehicle Type, By Design, By Distribution Channel, By End-Use- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Saudi Arabia Tire Market is predicted to reach USD 0.03 billion by 2033 with a CAGR of 2.35%.

Saudi Arabia’s vehicle fleet is rising, the automotive sector is expanding rapidly, consumers have more disposable spending, and international tyre brands are becoming increasingly popular. Chinese brands are selling better since they are more accessible and less expensive than other brands, resulting in increased popularity in the Saudi tyre market. To support the Saudi Vision 2030, the Saudi government is investing heavily in infrastructure development, including the establishment of “NEOM” smart cities and other programmes such as the National Industrial Development and Logistics Programme (NIDLP).

The Saudi Arabia Tyre Market is being propelled by the continued development of construction activities, which would greatly increase demand for commercial vehicles such as trucks and trailers. Another factor increasing tyre demand in Saudi Arabia is the increased requirement to change tyres more frequently due to severe weather. Consumers now choose to go in their own automobiles rather than taking public transit. This fundamental transformation will open up new market opportunities, attracting a large number of end users to the Saudi Arabia Tyre market. Numerous multinational behemoths are focusing on the advancement of tyre manufacturing technologies, such as the use of nanotechnology to decrease tyre wear and tear while meeting changing customer demand.

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Impact of COVID-19 on Saudi Tire Market

The COVID-19 pandemic has a significant impact on Saudi Arabia’s tyre business. Lockdowns in several countries caused by the COVID-19 pandemic epidemic have posed a severe problem for the tyre industry. A number of manufacturing facilities temporarily suspended production, and social isolation and lockouts resulted in a decrease in productivity, temporarily suspending total output. Operational capacity was reduced as a result of a manpower shortage and a disruption in raw material supplies.

Furthermore, the closure of building projects and warehouses due to the economic downturn and supply-side concerns lowered tyre demand from a wide range of end-user industries, including construction, industrial, agriculture, and mining. Furthermore, the outbreak jeopardised logistics and transportation operations, and limits on on-road driving had a short-term impact on tyre supply, restricting market growth.

Saudi Arabia Tire Market Key Players:

The market report covers market data by competitive landscape, revenue analysis, market segmentation, and thorough analysis of major market participants such as; Kumho Tire, Michelin Group, Pirelli & C. S.p.A, Sumitomo Corporation, Toyo Tire Corporation, Yokohama Rubber Company, Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Hankook Tire and Technology, Others.

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KSA Tire Market Competition

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KSA Tire Market Share, Growth, Revenue, Rising Trends, Key Players, Demand, Competitive Analysis, Challenges and Forecast Research by 2033: SPER Market Research

admin December 19, 2023 Automotive, Business, News

The wheel rim surrounds the ring-shaped part called a tire, which helps transfer the vehicle’s weight to the ground and provides traction on the surface being driven over. Effective performance is made possible by the rubber compound and other materials used in tires under a variety of conditions. A tire is made up of various parts, including the tread, sidewall, inner liner, belts, and body ply.

According to SPER market research, ‘Saudi Arabia Tire Market Size- By Product Type, By Vehicle Type, By Design, By Distribution Channel, By End-Use – Regional Outlook, Competitive Strategies and Segment Forecasts to 2033- state that the Saudi Arabia Tire Market predicted to reach USD 0.03 billion by 2033 with a CAGR of 2.35%.

The Saudi Arabian tire industry is primarily driven by the country’s economic prosperity and the expansion of its automotive sector. Because of the Kingdom’s oil-rich economy, more people have more disposable income, which has raised the percentage of people who own cars. The need for tires increases as more people purchase cars, propelling the market’s expansion. Additionally, Saudi Arabia has been actively promoting domestic auto assembly and manufacturing, which has helped the nation’s auto industry grow. Because it gives producers a domestic market, this growth supports the tire industry even more. With new developments in technology and tire innovation, the global tire market is always changing. There is a growing trend in Saudi Arabia among consumers to seek tire options that are environmentally friendly and technologically advanced.

The Saudi Tire Market faces several major challenges, chief among them being the nation’s susceptibility to economic fluctuations, especially with regard to variations in the price of crude oil globally. The Kingdom’s economy is closely linked to the price of oil because it primarily depends on oil exports for its income. The Saudi economy may be negatively impacted by sudden drops in oil prices, which could result in lower consumer spending and increased economic uncertainty. These elements have a direct effect on tire demand since during recessions people may put off buying tires or other non-essential goods

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The COVID-19 pandemic outbreak has created a significant problem for the tire industry because it has led to lockdowns in many countries. A number of factories came to a temporary halt, and lockouts and social isolation caused production to be scaled back, which in turn caused the overall output to temporarily stop. Additionally, operational capacity was decreased as a result of a labor shortage and a disruption in the raw material supply. In addition, the recession and supply-side issues caused warehouse closures and construction projects, which in turn decreased demand for tires from a number of end-user industries, including mining, construction, industrial, and agriculture. The pandemic also put logistics and transportation operations in jeopardy, and restrictions on on-road travel directly affected the supply of tires, which slowed the market’s growth.

Over the past few years, Saudi Arabia’s tire market has grown steadily and impressively. Numerous factors, such as the country’s growing automobile population and the growth of the automotive industry, are responsible for this growth. With major players investing in manufacturing facilities and the establishment of research and development centres, the automotive sector in Saudi Arabia has seen significant development. Because of these investments, tire technology and production techniques have advanced, increasing the demand for Saudi Arabian tires on both the domestic and international markets.

KSA Automotive Tire Market Key Players:

Furthermore, a few of the major companies in the market are Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company

Our in-depth analysis of the KSA Tire Market includes the following segments:

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

By Product Type:

Tube Tire
Tubeless Tire

By Vehicle Type:

Heavy Commercial Vehicle
Light Commercial Vehicle
Medium &
Off-The-Road
Passenger car
Three Wheelers
Two-Wheeler

By Design:

Radial Tire
Bias Tire

By Distribution Channel:

Online
Offline

By End-Use:

OEM Market
Replacement Market

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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KSA Tire Market Future Competition

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Saudi Arabia Tire Market Growth, Share, Emerging Trends, Business Opportunities, Revenue, Key Manufacturers and Future Challenges till 2023- 2033: SPER Market Research

admin September 25, 2023 Automotive, Business, News

A tyre is a ring-shaped piece that is encircled by a wheel’s rim and aids in dispersing the weight of the vehicle to the ground while supplying grip on the terrain being travelled over. Tyre performs effectively in a variety of settings thanks to the rubber compound and other elements utilised. The inner liner, sidewall, belts, body ply, bead and tread are just a few of the components that make up a tyre. The tire’s tread region is stabilised and strengthened by the belt, which also acts as the tire’s structural support for the body ply. Cars, trucks, two-wheelers, and three-wheelers are among the types of vehicles that typically employ tyres.

According to SPER market research, ‘Saudi Arabia Tire Market Size- By Product Type, By Vehicle Type, By Design, By Distribution Channel, By End-Use- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Saudi Arabia Tire Market is predicted to reach USD 0.03 billion by 2033 with a CAGR of 2.35%.

The Saudi Arabian Automotive Industry is expanding quickly, which is helping the tyre market expand. The rising standard of life and rising per capita spending on premium auto parts, along with the growing consumer base, all contribute to the market’s expansion. International tyre companies are becoming more prevalent in Saudi Arabia because to their promise of excellent quality and longer product life. Additionally, a number of local tyre manufacturers are forming strategic alliances and collaborations with global firms in order to diversify their product lines and raise the price of their goods. In addition, Saudi Arabia lifted a ban on women driving alone, allowing them to no longer be forced to travel with male family members or use chauffeurs. It is anticipated that this will increase Saudi Arabia’s demand for tyres. Other elements that will spur the need for tyres in KSA include the expansion of the infrastructure sector, the expansion of the building sector, the increased need for replacement tyres, etc.

However, a number of difficulties plague the KSA Automotive Tire Market. Due to the market’s substantial reliance on imports, price pressures from economic swings and competition as well as supply chain and currency variations are all potential threats. Compliance with regulations, especially those pertaining to safety and environmental requirements, requires ongoing adaptation. Stress on costs and sustainability is increased by changes in the price of raw materials and escalating environmental worries. Operations are further complicated by seasonal demand changes and counterfeiting problems. Continuous adaptation is required due to the changing environment, which is being influenced by electric vehicles and technology improvements. In addition, despite these complex issues, maintaining road infrastructure and upholding safety and quality standards are still essential for the market’s sustainability.

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Furthermore, the COVID-19 pandemic outbreak has created a serious issue for the tyre business because of lockdowns in numerous nations. As a result of social isolation and lockout, some production facilities briefly stopped operating, which momentarily halted output as a whole. Due to a lack of labourers and disruptions in the raw material supply, operational capacity were also reduced. As a result of the closure of warehouses and construction projects brought on by the economic slowdown and supply-side problems, demand for tyres decreased from a variety of end-user industries, including construction, industrial, agriculture, and mining. Additionally, the epidemic put logistics and transportation activities in danger, and restrictions on on-road travel had an immediate impact on tyre supply, which in turn constrained market expansion.

Additionally, Some of the Market Key Players are Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Toyo Tire Corporation, Yokohama Rubber Company, Others.

KSA Tire Market Key Segments Covered:-

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

By Product Type: Based on the Product Type, Saudi Arabia Tire Market is segmented as; Tube Tire, Tubeless Tire.

By Vehicle Type: Based on the Vehicle Type, Saudi Arabia Tire Market is segmented as; Heavy Commercial Vehicle, Light Commercial Vehicle, Medium &amp, Off-The-Road, Passenger car, Three Wheelers, Two-Wheeler.

By Design: Based on the Design, Saudi Arabia Tire Market is segmented as; Radial Tire, Bias Tire.

By Distribution Channel: Based on the Distribution Channel, Saudi Arabia Tire Market is segmented as; Online, Offline.

By End-Use: Based on the End-Use, Saudi Arabia Tire Market is segmented as; OEM Market, Replacement Market.

By Region: This research also includes data for Eastern, Central, Northern, Northwest, Midwest, and Southwest Saudi Arabia.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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Saudi Arabia Automotive Tire Market Forecast

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