Saudi Arabia Tyre Market Forecast and Opportunities, 2020 - Establishment of Local Tyre manufacturing Facilities
DUBLIN, Aug. 4, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/4jnpsp/saudi_arabia_tyre) has announced the addition of the "Saudi Arabia Tyre Market Forecast and Opportunities, 2020" report to their offering.
Saudi Arabia is forecast to grow at a CAGR of over 13% during 2015-20
During 2010-14, passenger car tyre segment dominated the country's tyre market, followed by the commercial vehicle tyre segment, and the same trend is expected to continue over the next five years. In 2014, the country's central region accounted for the largest share in the tyre market, followed by western, eastern, southern and northern region of Saudi Arabia. Major global tyre companies that currently operate in the country include Bridgestone, Continental and Michelin.
Saudi Arabia is one of the leading automotive markets in the Middle East. Demand for tyres in the country, which is met through imports, has been increasing at a rapid pace on account of growing vehicle sales over the last five years. Shortening tyre replacement period coupled with increasing automobile sales are expected to drive the country's tyre industry through 2020. Increase in infrastructure development activities, favorable government policies and surging foreign investments in automotive sector are anticipated to fuel the demand for vehicles, and thereby tyres, in Saudi Arabia in the coming years. One of the major trends that has been gaining increasing market traction over the last decade has been growing sales of tyres in the unorganized tyre market; a segment that is hugely dominated by Chinese tyre brands. This trend is likely to continue through 2020 as consumer tend to opt for Chinese tyres due to their highly discounted prices compared to branded tyres.
Saudi Arabia Tyre Market Forecast and Opportunities, 2020 report discusses the following aspects:
- Establishment of Local Tyre manufacturing Facilities
- Used Car Market
- Tyre Recycling Projects
- Rising Automobile Sales
- Tyre Pressure Monitoring System
Key Topics Covered:
1. Research Methodology
2. Analyst View
3. Product Overview
4. Saudi Arabia Tyre Market Outlook
5. Saudi Arabia Passenger Car Tyre Market Outlook
6. Saudi Arabia Commercial Vehicle Tyre Market Outlook
7. Saudi Arabia Other Tyre Market Outlook
8. Trade Dynamics
9. Market Dynamics
10. Market Trends & Developments
11. Policy & Regulatory Landscape
12. Saudi Arabia Economic Profile
13. Competitive Landscape
14. Strategic Recommendations
Companies Mentioned
- Bridgestone Corporation
- Continental AG
- Cooper Tire & Rubber Company
- Goodyear Tyre & Rubber Co.
- Hankook Tire Co. Ltd.
- Michelin
- Nexen Tires
- Pirelli & C. SpA
- Toyo Tire
- Yokohama Rubber Co. Ltd
For more information visit
http://www.researchandmarkets.com/research/4jnpsp/saudi_arabia_tyre
Media Contact:
Laura Wood, +353-1-481-1716, press@researchandmarkets.net
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