Middle East and Africa Tire (Tyre) Market Size, Share and Outlook

To give a flexible cushion with road for traction and smooth acceleration, tires are rubber coverings placed around metallic wheels. Synthetic, natural, and other chemical substances are commonly used to make pneumatic tires nowadays. High-quality tires reduce wear and tear, minimize rolling resistance, increase mileage and traction, and improve grip for safety. They also help a vehicle perform better. Tires are used extensively in two-wheelers, passenger cars, light and commercial trucks, buses, and military vehicles as a result. The Middle East and Africa tire markets are well-positioned to expand due to the region’s rapidly expanding economies and ongoing infrastructural construction.

According to SPER market research, ‘Middle East & Africa Tire (Tyre) Market Size- By Vehicle Type, By Design, By Sales Channel, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Middle East Automotive Tires Market is predicted to reach USD XX billion by 2033 with a CAGR of XX%.

Due to the extensive mining, construction and industrial operations activities that are common in various nations in the region, the market is anticipated to expand over the course of the projected period. Additionally, during the projected period, the region’s public infrastructure development, rising government spending; expanding infrastructure; and rising vehicle ownership will support the market’s expansion. The market for construction and material handling equipment has also grown as a result of the expansion of the real estate industry in emerging economies. This is because labour costs are rising, productivity needs are growing, and resource utilization needs are being maximized. These factors are anticipated to greatly accelerate the growth of the tire market in the region. These elements may therefore propel the expansion of the market as a whole. Furthermore, the innovations like integration of smart tires to improve industrial fleets and other operations that coincide with the emergence of end-use industries will also drive the market.

Although the market possesses potential, there are certain obstacles to overcome such as:

Economic instability: In certain nations, supply chains can be disrupted and consumer spending can be affected by political and economic instability.
Currency fluctuations: The price of imported tires may fluctuate, making them more expensive for customers.
Counterfeiting: The availability of fake tires can damage the market for genuine brands and present a safety issue.

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Like every other vertical in the world, the market in the Middle-Eash & African region was also impacted by the COVID-19 pandemic. The tire market was severely impacted, with a decrease seen in both the OEM and replacement segments. The market’s expansion was hampered by the stop in automobile production that was brought about by the start of lockdowns. The travel limitations also resulted in a decrease in the demand for substitute products.

Throughout the Middle East and Africa, Saudi Arabia has the biggest market share in the tyre sector. Many reasons have contributed to this dominant position. First off, a large portion of Saudi Arabia’s population drives cars, which has led to a strong need for tires. Furthermore, the nation’s rapidly expanding urbanization and industrial growth have spurred the booming transportation and logistics industry, which in turn has increased demand for dependable and effective tires. Moreover, Key market players are Apollo Tires, CEAT Tires, Continental, Giti, Hankook, and others.

MENA Tire (Tyre) Market Segmentation:

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, Middle East & Africa Tire (Tyre) is segmented as; 2 wheeler vehicles, 3 wheelers, Heavy commercial vehicles, Light commercial vehicles, Medium commercial vehicles, Passenger cars, Other vehicles.

By Design: Based on the Design, Middle East & Africa Tire (Tyre) is segmented as; Bias-ply tyres, Radial tyres.

By Sales Channel: Based on the Sales Channel, Middle East & Africa Tire (Tyre) Market is segmented as; Offline, Online.

By End Use: Based on the End Use, Middle East & Africa Tire (Tyre) Market is segmented as; OEM, Replacement Tyres.

By Region: This report also provides the data for key regional segments of Qatar, Saudi, South Africa, UAE, Rest of the Middle East and Africa.

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.

For More Information, refer to below link:-

Middle East Automotive Tires Market Challenges

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