Saudi Arabia Tire Market Growth, Size, Trends, Revenue, Demand, Challenges and Future Outlook
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
| Published: Sep-2023 | Report ID: AMIN23144 | Pages: 1 - 103 | Formats*: |
| Category : Automotive & Transportation | |||
Saudi Arabia Tire Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Tire Market is estimated to reach USD 0.03 billion by 2033 with a CAGR of 2.35%.
The report includes an in-depth analysis of the Saudi Arabia Tire Market, including market size and trends, product mix, distribution channels, and supplier analysis. A tyre is a ring-shaped piece enclosed within a wheel's rim that aids in transmitting the weight of the vehicle to the ground while supplying traction on the terrain being travelled over. Tire's rubber composition and other materials enable effective performance under various circumstances. The tread, sidewall, inner liner, belts and body ply are just a few of the components that make up a tyre. The tire's structure is formed by the body ply, and the belt gives the tread area of the tyre stability and strength. In most passenger automobiles, commercial vehicles, two-wheelers, and three-wheelers, tyres are used.
- 2021: Toyo Tyres Japanese and Korean Nexen Tyres introduced a three-year platinum warranty programme in 2021 via their Saudi Arabian agent AI-Amoudi Co. Ltd.
- 2021: 4 recycling plants were shut down by the Saudi Arabian Ministry of Commerce and Industry in 2021 due to violations of quality and safety standards.
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Market Opportunities and Challenges
- Opportunities: 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 of their promise of excellent quality and longer product life.
- Challenges: The tyre market in Saudi Arabia has a number of difficulties. Due to the market's substantial reliance on imports, price pressures from economic volatility, competition, and supply chain disruptions are all factors. Continuous adaptation is necessary for regulatory compliance, particularly with regard to safety and environmental norms. Cost and sustainability challenges are increased by changes in the price of raw materials and escalating environmental issues. Operations are made more difficult by seasonal demand changes and counterfeiting problems. Continuous adaptation is necessary due to the changing environment brought on by technological breakthroughs and electric automobiles. In addition, in the midst of these complex difficulties, maintaining road infrastructure and enforcing safety and quality standards remain essential for market survival.
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Market Competitive Landscape
The market exhibits a moderate level of fragmentation, with several major players, including Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Hankook Tire and Technology, Kumho Tire, Michelin Group, Pirelli & C. S.p.A, Sumitomo Corporation, Toyo Tire Corporation, Yokohama Rubber Company, Others. These businesses use a variety of tactics, such as partnerships, joint ventures, licence agreements, mergers and acquisitions, and the introduction of new products, to increase their market dominance even more.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By Vehicle Type, By Design, By Distribution Channel, By End-Use |
| Regions covered | Eastern, Central, Northern, Northwest, Midwest, and Southwest Saudi Arabia |
| Companies Covered | Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Hankook Tire and Technology, Kumho Tire, Michelin Group, Pirelli & C. S.p.A, Sumitomo Corporation, Toyo Tire Corporation, Yokohama Rubber Company, Others |
COVID-19 Impact on Saudi Arabia Tire Market
Due to lockdowns in numerous nations, the COVID-19 pandemic breakout has caused a serious dilemma for the tyre business. A number of manufacturing facilities briefly stopped operating, and social isolation and lockout led to a downscaling of production, which momentarily halted overall output. Due to a labour shortage and a disruption in the supply of raw materials, operational capacity were also reduced. In addition, the closure of warehouses and construction projects brought on by the recession in the economy and supply-side problems reduced the demand for tyres from several end-user industries, including construction, industrial, agriculture, and mining. Additionally, the pandemic endangered logistics and transportation operations, and limitations on on-road travel had an immediate impact on tyre supply, which restrained the market's expansion.
Key Target Audience
- Automobile Manufacturers
- Automotive Parts Distributors
- Automotive Service Centers
- Fleet Owners and Operators
- Import and Export Authorities
- Logistics and Supply Chain Professionals
- Tire Manufacturers and Suppliers
- Tire Retailers and Dealers
- Others
Our in-depth analysis of the Saudi Arabia Tire Market includes the following segments:
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Key Topics Covered in the Report
- Saudi Arabia Tire Market Size (FY’2023-FY’2033)
- Overview of Saudi Arabia Tire Market
- Segmentation of Saudi Arabia Tire Market By Product Type (Tube Tire, Tubeless Tire)
- Segmentation of Saudi Arabia Tire Market By Vehicle Type (Heavy Commercial Vehicle, Light Commercial Vehicle, Medium &, Off-The-Road, Passenger car, Three Wheelers, Two-Wheeler)
- Segmentation of Saudi Arabia Tire Market By Design (Radial Tire, Bias Tire)
- Segmentation of Saudi Arabia Tire Market By Distribution Channel (Online, Offline)
- Segmentation of Saudi Arabia Tire Market By End-Use (OEM Market, Replacement Market)
- Statistical Snap of Saudi Arabia Tire Market
- Expansion Analysis of Saudi Arabia Tire Market
- Problems and Obstacles in Saudi Arabia Tire Market
- Competitive Landscape in the Saudi Arabia Tire Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Tire Market
- Details on Current Investment in Saudi Arabia Tire Market
- Competitive Analysis of Saudi Arabia Tire Market
- Prominent Players in the Saudi Arabia Tire Market
- SWOT Analysis of Saudi Arabia Tire Market
- Saudi Arabia Tire Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Saudi Arabia Tire Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Tire Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Tire Market
7. Saudi Arabia Tire Market, By Product Type (USD Million)
7.1. Saudi Arabia Tire Market Value Share and Forecast, By Product Type, 2023-20337.2. Tube Tire7.3. Tubeless Tire
8. Saudi Arabia Tire Market, By Vehicle Type (USD Million)
8.1. Saudi Arabia Tire Market Value Share and Forecast, By Vehicle Type, 2023-20338.2. Heavy Commercial Vehicle8.3. Light Commercial Vehicle8.4. Medium &8.5. Off-The-Road8.6. Passenger car8.7. Three Wheelers8.8. Two-Wheeler
9. Saudi Arabia Tire Market, By Design (USD Million)
9.1. Saudi Arabia Tire Market Value Share and Forecast, By Design, 2023-20339.2. Radial Tire9.3. Bias Tire
10. Saudi Arabia Tire Market, By Distribution Channel (USD Million)
10.1. Saudi Arabia Tire Market Value Share and Forecast, By Distribution Channel, 2023-203310.2. Online10.3. Offline
11. Saudi Arabia Tire Market, By End-Use (USD Million)
11.1. Saudi Arabia Tire Market Value Share and Forecast, By End-Use, 2023-203311.2. OEM Market11.3. Replacement Market
12. Saudi Arabia Tire Market Forecast, 2019-2033 (USD Million)
12.1. Saudi Arabia Tire Market Size and Market Share
13. Saudi Arabia Tire Market, By Product Type, 2019-2033 (USD Million)
13.1. Saudi Arabia Tire Market Size and Market Share By Product Type (2019-2026)13.2. Saudi Arabia Tire Market Size and Market Share By Product Type (2027-2033)
14. Saudi Arabia Tire Market, By Vehicle Type, 2019-2033 (USD Million)
14.1. Saudi Arabia Tire Market Size and Market Share By Vehicle Type (2019-2026)14.2. Saudi Arabia Tire Market Size and Market Share By Vehicle Type (2027-2033)
15. Saudi Arabia Tire Market, By Design, 2019-2033 (USD Million)
15.1. Saudi Arabia Tire Market Size and Market Share By Design (2019-2026)15.2. Saudi Arabia Tire Market Size and Market Share By Design (2027-2033)
16. Saudi Arabia Tire Market, By Distribution Channel, 2019-2033 (USD Million)
16.1. Saudi Arabia Tire Market Size and Market Share By Distribution Channel (2019-2026)16.2. Saudi Arabia Tire Market Size and Market Share By Distribution Channel (2027-2033)
17. Saudi Arabia Tire Market, By End-Use, 2019-2033 (USD Million)
17.1. Saudi Arabia Tire Market Size and Market Share By End-Use (2019-2026)17.2. Saudi Arabia Tire Market Size and Market Share By End-Use (2027-2033)
18. Saudi Arabia Tire Market, By Region, 2019-2033 (USD Million)
18.1. Saudi Arabia Tire Market Size and Market Share By Region (2019-2026)18.2. Saudi Arabia Tire Market Size and Market Share By Region (2027-2033)18.3. Eastern18.4. Central18.5. Northern18.6. Northwest18.7. Midwest18.8. Southwest
19. Company Profile
19.1. Bridgestone Corporation
19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments
19.2. Continental AG
19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments
19.3. Goodyear Tire and Rubber Company
19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments
19.4. Hankook Tire and Technology
19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments
19.5. Kumho Tire
19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments
19.6. Michelin Group
19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments
19.7. Pirelli & C. S.p.A
19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments
19.8. Sumitomo Corporation
19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments
19.9. Toyo Tire Corporation
19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments
19.10. Yokohama Rubber Company
19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments
19.11. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Saudi Arabia Tire Market CAGR of 2.35% during the forecast period.
Saudi Arabia Tire Market grew in market size from 2022. The Market is expected to reach USD 0.03 billion by 2033, at a CAGR of 2.35% during the forecast period.
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Saudi Arabia Tire Market Segment is covered By Product Type, By Vehicle Type, By Design, By Distribution Channel, By End-Use.
The Middle East is anticipated to have the highest market share in the Saudi Arabia Tire Market .
"The key players in the market include Companies Covered Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Hankook Tire and Technology, Kumho Tire, Michelin Group, Pirelli & C. S.p.A, Sumitomo Corporation, Toyo Tire Corporation, Yokohama Rubber Company, Others.
"
A tyre is a ring-shaped piece enclosed within a wheel's rim that aids in transmitting the weight of the vehicle to the ground while supplying traction on the terrain being travelled over.
Saudi Arabia Tire Market is projected to reach USD 0.03 billion by 2033, growing at a CAGR of 2.35% during the forecast period.
Saudi Arabia Tire Market size is USD 0.03 billion from 2023 to 2033.
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