The new report from Automotive and Transport Market Reports has been published today.
Despite being impacted by falling oil prices and uncertainties prevailing across neighbouring countries, automobile market in the UAE grew during 2011-2015. As per OICA, motorization rate (for passenger cars and commercial vehicles) in the UAE stood at 216 vehicles per 1,000 people as of 2014. This is projected to drive demand for tires in the country in the coming years as well. Increasing sales of vehicles and expanding vehicle fleet size is projected to pump growth in replacement demand for tires in the country during 2016-2021.
Rising purchasing power of citizens and increasing infrastructure development projects is fueling tire sales in the country. On account of hot climatic conditions in the country, replacement period of tires is shorter. Further, due to absence of tire manufacturing in the country, demand for tires in the UAE is addressed through mainly imports.
According to “UAE Tire Market Forecast & Opportunities, 2021”, demand for tires in the UAE grew at a CAGR of over 5% through 2021. Increasing construction activities, growing urbanization, booming tourism sector and increasing per capita GDP are driving adoption of new tire technologies in the country. Further, passenger car tire segment dominated demand for tires in the country and the segment is anticipated to continue dominating the UAE tire market through 2021. Although, Chinese branded tires are extremely popular in the country due to their cheaper prices, few of the major flagship tire brands operating in the country include Michelin, Pirelli, Goodyear and Bridgestone.
“UAE Tire Market Forecast & Opportunities, 2021” report elaborates following aspects of tire market in the UAE:
– UAE Tire Market Size, Share & Forecast
– Segmental Analysis – By Vehicle Type (Passenger Car Tires, Medium and Heavy Commercial Tires, Light Commercial Vehicle Tires, Off-The-Road (OTR) Tires &Two-Wheeler Tires), By Radial Vs Bias, By Online Vs Offline
– Policy & Regulatory Landscape
– Changing Market Trends and Emerging Opportunities
– Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
– To gain an in-depth understanding of tire market in the UAE
– To identify the on-going trends and segment wise anticipated growth in the coming years
– To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
– To obtain research based business decision and add weight to presentations and marketing material
– To gain competitive knowledge of leading players
– To avail of 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with vehicle manufactures, tire companies, distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.