DUBLIN, Jan. 29, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/5v3gct/saudi_arabia_tyre) has announced the addition of the "Saudi Arabia Tyre Market Forecast and Opportunities, 2019" report to their offering.
Saudi Arabia has one of the highest number of per capita vehicles, globally. In 2013, about 0.74 million units of commercial vehicles and passenger cars were sold in the Kingdom. Saudi Arabia hugely lacks in terms of vehicle production as only a handful automobile assembly units are located across the country. As a result, the entire domestic demand for automobiles as well as tyres is met solely through imports.
However, expanding growth potential in the automobile sector is attracting several vehicle manufacturers to Saudi Arabia. Japanese car maker Isuzu has constructed a production facility in Dammam Industrial City 2 and plans to manufacture about 25,000 light trucks and heavy duty trucks by 2017, primarily to address swelling domestic as well as exports demand from the MENA region. This is expected to considerably boost OEM tyre sales in the country over the next five years.
According to Saudi Arabia Tyre Market Forecast & Opportunities, 2019, the tyre market in Saudi Arabia is forecast to grow at a CAGR of around 17% till 2019. Increasing passenger car sales, expanding automobile fleet size, favorable government policies and significant foreign investments in the automotive sector are some of the key factors propelling tyre demand in Saudi Arabia. Due to extreme weather conditions, replacement period for tyres is relatively shorter, which is also a major reason for increasing replacement tyre sales in the Kingdom.
Passenger car tyre is the most dominating segment in the Saudi Arabia tyre market, followed by commercial vehicle tyre and other vehicle tyre segments. The Kingdom's Western and Central regions, comprising Riyadh, Mecca and Madinah, collectively account for around 57% of the total tyre sales in Saudi Arabia. Besides major Chinese brands, some leading tyre manufacturers like Bridgestone, Michelin, Continental, Goodyear and Yokohama have established themselves as key players in the Saudi Arabia tyre market.
Saudi Arabia Tyre Market Forecast & Opportunities, 2019 discusses following aspects of the tyre market in Saudi Arabia:
- Saudi Arabia Tyre Market Size, Share & Forecast
- Segmental Analysis - Passenger Car Tyres, Commercial Vehicle Tyres, Other Tyres
- Policy & Regulatory Environment
- Changing Market Dynamics & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- Gain an in-depth understanding of tyre market in Saudi Arabia
- Identify the on-going trends and segment wise anticipated growth in the coming years
- Help industry consultants, tyre companies and other stakeholders to align their market-centric strategies
- Gain in-depth understanding of market dynamics, import-export, trends and opportunities
- Obtain research based business decision and add weight to presentations and marketing materials.
- Gain competitive knowledge of leading players
- Avail 10% customization in the report without any extra charges and get the 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 tyre distributors and retailers in Saudi Arabia. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
Key Topics Covered:
1. Research Methodology
2. Market Overview
3. Analyst View
4. Saudi Arabia Tyre Market Outlook & Forecast
5. Passenger Car Tyre Market Outlook & Forecast
6. Commercial Vehicle Tyre Market Outlook & Forecast
7. Other Tyre Market Outlook & Forecast
8. Saudi Arabia Tyre Market Trade Analysis
9. Saudi Arabia Tyre Market Dynamics
10. Policy & Regulatory Landscape
11. Market Trends & Developments
12. Saudi Arabia Economic Profile
13. Competitive Landscape
14. Strategic Recommendations
- Bridgestone Corporation
- Continental AG
- Goodyear Tyre & Rubber Co.
- Hankook Tire Co. Ltd.
- Michelin AIM
- Pirelli & C. SpA
- Yokohama Rubber Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/5v3gct/saudi_arabia_tyre
Media Contact: Laura Wood , +353-1-481-1716, email@example.com
SOURCE Research and Markets