Middle East & Africa Tire (Tyre) Market is referred to as the tire or tyre market in the Middle East and Africa region. It includes tyre or tyre manufacturing, distributing, and selling throughout the Middle East and Africa. To give wheels traction, comfort, and support, tyres, sometimes referred to as tyres, are rubber encasings that are fitted around the rims of the wheels. They are frequently created from a variety of materials, including synthetic and natural rubber, fabric, wire, carbon black, and chemical substances. There are many different tyre types, sizes, and applications available on the Middle East and Africa tyre market for a variety of vehicles, including cars, trucks, buses, motorbikes, and other commercial and industrial vehicles.
Middle East & Africa Tire (Tyre) Market Driving Factors and Challenges
Several important factors play a role in the development of Middle East & Africa Tire industry. The population of the Middle East and Africa is expanding quickly, which is causing an increase in the number of automobiles on the road. The need for tyres, both for new vehicles and replacement purposes, is driven by rising vehicle ownership and usage.
The need for tyres is driven by the growth of business fleets, including delivery, logistics, and transportation services. The demand for commercial vehicles and tyres used in these activities rises in response to the expansion of e-commerce and the requirement for effective supply chains.
Numerous obstacles are preventing the Middle East and Africa's tyre business from expanding and developing. Tyre manufacturing's inability to generate high-quality and novel goods is hampered by a shortage of competent labour and restricted technical advancements. Finally, domestic tyre manufacturers are under pressure to maintain their competitiveness in terms of pricing and product offers due to the growing competition from low-cost tyre imports, notably from Asian manufacturers.
Impact of COVID-19 on Middle East & Africa Tire (Tyre) Market
The Middle East and Africa tyre market has been greatly impacted by the Covid-19 outbreak in a number of ways. The tyre supply chain was hampered by logistical issues and the closing of manufacturing plants. Tyre import and export were hampered by trade restrictions, such as border closures and limited capacity for air and sea freight, which impacted the supply of specific tyre brands and models.
Additionally, the epidemic caused a change in consumer behaviour, with a rise in the popularity of internet shopping and contactless payments. To effectively reach customers, tyre retailers and manufacturers have to adjust to these shifting trends and invest in e-commerce platforms and digital marketing techniques. Moreover, the pandemic's overall unpredictability and economic instability had an impact on investment choices and slowed down fleet expansions and infrastructure projects, which had an effect on the commercial tyre market.
Middle East & Africa Tire (Tyre) Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Apollo Tyres, Bridgestone, Continental, Cooper Tires, Goodyear Tyres, Hankook Tire, Maxxis International, Michelin, MRF, Pirelli, others.
Middle East & Africa Tire (Tyre) Market Segmentation:
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.