07 Sep Saudi Arabia Tire Market Revenue, Trends Analysis, expected to Grow 8% CAGR, Growth Strategies and Future Outlook 2027: MarkNtel Advisors
Market Insights
As per recent research by MarkNtel Advisors, The Saudi Arabia Tire Market is projected to witness 8% growth during the forecast period, i.e., 2022-27.
Key Driver: Surging Inclination of Tire Manufacturers toward Digital Sales Platforms
The increasing government support for digital transformations across industries, i.e., enabling the leading tire manufacturers to adopt online platforms for tire sales, is allowing the customers to choose from a wide variety of tires of different brands, budgets, features, etc., and avail benefits like discounts, door-step deliveries & installation, among others. This rapidly increasing digital transformation of tire manufacturers is the key factor projected to drive the Saudi Arabia Tire Market during 2022-27.
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Market Segmentation and Consumer Behavior:
By Type of Vehicles
- Passenger Car
- Light Commercial Vehicle
- Medium and Heavy Commercial Vehicles
- Off the Road (OTR)
- Two Wheelers
- Three Wheeler
By Demand Category
- OEM
- Aftermarket
- By Type of Tire
- Radial
- Bias
By Sales Channel
- Direct Sales
- Exclusive Outlets & Multi-brand Stores
- Online
By Price Category
- Budget
- Economy
- Premium
By Rim Size
- Up to 12”
- 1” to 15”
- 1.” to 18”
- 1” to 20”
- 1” to 22.5”
- 6” to 26”
- 1” to 35”
- 1” to 47”
- Above 47”
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Saudi Arabia Tire Market Geographical Analysis:
By Region:
- East
- West
- South
- Central
Key Players and Competitive Strategies in the Saudi Arabia Tire Market
Several prominent players dominate the Saudi Arabia Tire Market, including:
- Continental AG
- Bridgestone Corporation
- Pirelli & C. S.p.A.
- Yokohama Rubber Company Limited
- Hankook Tire Co., Ltd.
- Goodyear Tire & Rubber Company
- Toyo Tire and Rubber Company
- Michelin Group
- Sumitomo Rubber Industries Limited
- Apollo Tires
- Others
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Questions Addressed in this Study
1.What factors are driving the Saudi Arabia Tire Market growth?
2.How is the Saudi Arabia Tire Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Saudi Arabia Tire Market?
4.What is the current size of the Saudi Arabia Tire Market, and how is it projected to change in the future?
5.What is the future outlook for the Saudi Arabia Tire Market in terms of technological advancements and market expansion?
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