A Tyre is a ring-shaped component that is surrounded by a wheel’s rim, which helps in transferring the vehicle’s load to the ground while providing traction on the surface travelled over. The rubber compound and other materials used in Tyre enables efficient performance in different conditions. A Tyre is composed using different parts, including body ply, bead, belts, inner liner, sidewall, and tread. The body ply forms the structure of the Tyre, and the belt provides stability and strength to the tread area of the Tyre. A Tyre is generally used in passenger cars, commercials vehicles, two-wheeler, and three-wheeler vehicles.

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The significant factors contributing to the growth of the Saudi Arabia Tyre Market include the expanding vehicle fleet size and growing infrastructure and construction sector in the country. The Saudi Arabian government is heavily investing in infrastructural development such as the development of smart cities “NEOM” and other programs, including the National Industrial Development and Logistics Program (NIDLP), to facilitate the Saudi Vision 2030. The continuous expansion in the construction activities will drastically increase the demand for commercial vehicles such as trucks and trailers, thereby fuelling the growth of the Tyre Market in Saudi Arabia. Moreover, the increasing requirement of replacing Tyres within a short period due to extreme weather condition is another factor which will complement the market growth in this region.

The significant rise in the demand for passenger cars, followed by the economic growth and rising purchasing power of the consumers, will have a positive impact on the demand for Tyres over the coming years. The consumer’s preference has shifted from public transports to personal vehicles for their regular traveling purpose. This fundamental shift will create new opportunities in the market, which in turn, will attract a large number of end-users to the Saudi Arabia Tyre market. Various multinational giants are focusing on the advancement of technology in the manufacturing process of the Tyres, such as the introduction of nanotechnology to reduce the rate of wear and tear of the Tyre, thus capturing the changing demand of the consumers.

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Based on the Product Type, the Tubeless Tyre segment is anticipated to lead the market over the forecast period owing to the increasing demand for tubeless Tyres driven by its exceptional properties such as improved lifespan in the extreme weather conditions. The tubeless Tyres are lightweight, provides excellent mileage while giving a stable driving experience. These Tyres support high speeding of the vehicles even in extreme conditions while eliminating its chances of bursting.

Based on the Vehicle Type, the Passenger car segment is expected to grow at a higher CAGR during the forecast period. The increasing demand for personal vehicles, followed by the growing size of the automobile industry in Saudi Arabia are the major factors boosting the demand for Tyres in this region. The government is supporting the increasing demand of Tyres by facilitating cheaper pricing of passenger cars. In addition to this, the affordable financing plans offered by numerous automobile insurance companies will encourage the consumers to opt for personal cars rather than traveling in public transports.

Based on Design, the Radial Tyres are projected to grow at a higher CAGR during the forecast period owing to its exceptional benefits such as better strength and enhanced flexibility as compared to the regular Tyres. The radial Tyres easily absorb the bumps and socks while providing a comfortable ride to the driver and passenger in the vehicle. It also reduces the ground compaction and minimizes the chances of damage caused to the vehicles. All these factors make it more suitable for the end-users, thus accelerating the demand for radial Tyres in Saudi Arabia.

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Various notable players in the Saudi Arabia Tyre market include Bridgestone Corporation, Hankook Tyre Co., Ltd, Pirelli & C. S.p.A., Dunlop (Goodyear Tyre & Rubber Company), Yokohama Rubber Co. Ltd., Continental AG, Toyo Tyre & Rubber Co. Ltd., Michelin Group, Apollo Tyres Ltd, and Cooper Tyre & Rubber Company among others.

The Saudi Arabia Tyre market has been segmented on the basis of product type, vehicle type, design, end-use, and distribution channel. Based on the product type, the market is segmented into Tube Tyre and Tubeless Tyre. Based on the Vehicle Type, the market is segmented into Passenger car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Off-The-Road, and Two-Wheeler, and Three Wheelers. Based on the Design, the market is segmented into Radial Tyre and Bias Tyre. Based on End-Use, the market is segmented into OEM market and Replacement market. Based on the Distribution Channel, the market is segmented into Online and Offline.

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Key questions answered in this research report:

• • At what pace is the Saudi Arabia Tyre market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the Saudi Arabia Tyre market? What will be the impact of market drivers and market restraints in the future?
  • Which product type generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various design areas of the Saudi Arabia Tyre market and how they are poised to grow?
  • What companies are the major participants in the Saudi Arabia Tyre market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Product Type, By Vehicle Type, By Design, By End-use, and By Distribution Channel
Regional Coverage	Saudi Arabia
Companies Profiled	Bridgestone Corporation, Hankook Tyre Co., Ltd, Pirelli & C. S.p.A., Dunlop (Goodyear Tyre & Rubber Company), Yokohama Rubber Co. Ltd., Continental AG, Toyo Tyre & Rubber Co. Ltd., Michelin Group, Apollo Tyres Ltd, and Cooper Tyre & Rubber Company among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Saudi Arabia Tyre Market by Product Type

• • Tube Tyre
  • Tubeless Tyre

Saudi Arabia Tyre Market by Vehicle Type

• • Passenger Car
  • Light Commercial Vehicle
  • Medium & Heavy Commercial Vehicle
  • Off-the-Road
  • Two-wheeler
  • Three Wheeler

Saudi Arabia Tyre Market by Design

• • Radial Tyre
  • Bias Tyre

Saudi Arabia Tyre Market by End-Use

• • OEM market
  • Replacement market

Saudi Arabia Tyre Market by Distribution Channel

• • Offline
  • Online

Saudi Arabia Tyre Market Leading market players (Option 1: As a part of free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Bridgestone Corporation
  • Hankook Tyre Co., Ltd
  • Pirelli & C. S.p.A.
  • Dunlop (Goodyear Tyre & Rubber Company)
  • Yokohama Rubber Co. Ltd
  • Continental AG
  • Toyo Tyre & Rubber Co. Ltd
  • Michelin Group
  • Apollo Tyres Ltd
  • Cooper Tyre & Rubber Company