Egypt Tire Market Growth and Size, Rising Trends, Revenue, Industry Share, Challenges, Future Opportunities and Forecast Analysis 2033: SPER Market Research
An automobile’s tire is a spherical, air-filled device that resembles a rim. A variety of natural and manmade materials, including steel, rubber, wire, cotton, glass, silica, and wire reinforced with carbon black, are utilized in its manufacturing. The tire comes in two different configurations: tubed and tubeless. It is composed of several parts, such as belts, body ply, inner liner, sidewall, tread, and bead and bead filler. In order to manage forces, the tire is crucial.
According to SPER market research, ‘Egypt Tire Market Size- By Vehicle Type, By Demand Category, By Tire Type, By Rim Size- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Egypt Tire Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.
The two main drivers driving the market are expanding consumer spending power and greater infrastructure investment across. Furthermore, it is projected that throughout the projection year, Egypt’s tire market would benefit from the gradually expanding motor fleet and rising disposable income. Egypt’s need for tires is expected to grow as a result of a ban on the import of used cars and rising demand for replacement tires. Owing to a number of variables, including the robust demand from end users in sectors including e-commerce, public transportation, mining, oil and gas, and logistics, The country’s need for tires for commercial vehicles has grown. The country’s fast urbanization, industrialization, and growth rate have all contributed to an increase in commercial tire sales. Following the pandemic, when the nation’s schools reopened, so did the demand for school buses, which in turn raised the price of tires.
But a lot of natural and synthetic rubber, sulfur, carbon black, and other materials are needed to make car tires. A number of factors, such as the availability of natural rubbers and regulatory restrictions on the excessive chopping down of rubber trees, can affect the cost of these raw materials. The unstable price of raw materials like rubber and oil prevents tire producers from producing and delivering tires at set prices, which may restrict the expansion of the Egypt Tyre Market in its early years.
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Furthermore, the Covid-19 epidemic hampered the growth of Egypt’s tire market. The government imposed a national quarantine in an attempt to stop the virus’s spread, but this had a negative impact on the supply of raw materials and the production of tires. The epidemic also increased the number of individuals working from home and spending more time at home, which reduced the need for solitary activities. The purchasing power of consumers was also impacted by the state of the national economy. These problems make it difficult for the market to expand overall and drastically lower Egypt’s demand for car tires
Additionally, some of the market key players are Apollo Tyres Ltd., Bridgestone Corporation, Michelin, MRF Ltd., Pirelli Tyre S.p.A., Sumitomo Rubber Industries, Ltd., Yokohama Tire Corporation, Others.
Egypt 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 Vehicle Type: Based on the Vehicle Type, Egypt Tire Market is segmented as; Light Commercial Vehicles (Light Buses, Light Trucks, Pickup Trucks & Vans), Medium & Heavy Commercial Vehicles (Bus, Truck), Off the Road (Earthmoving Equipment, Industrial & Mining Equipment, Material Handling Equipment), Passenger Cars (Hatchback & Bakkies, Sedan, SUV), Two Wheelers (Moped, Motorcycles, Scooters).
By Demand Category: Based on the Demand Category, Egypt Tire Market is segmented as; OEM, Replacement.
By Tire Type: Based on the Tire Type, Egypt Tire Market is segmented as; Bias, Radial (Tube, Tubeless).
By Rim Size: Based on the Rim Size, Egypt Tire Market is segmented as; Up to 12, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”.
By Region: This research also includes data for Alexandria, Cairo, Giza and rest of Egypt.
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