According toOrganic Market Research report, “Saudi Arabia Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, Two-Wheeler and Off the Road Vehicles), By End-User (OEM Vs. Replacement), By Radial Vs Bias, By Distribution Channel (Online and Offline), By Region, Forecast & Opportunities, 2016- 2026”, Saudi Arabia tire market is expected to grow at a CAGR of 1.5% from 2021-2026. Major factors propelling the growth of Saudi Arabia tire market are improving vehicle sales and continuous increase in tire demand in the replacement.
Saudi Arabia tire market is segmented based on vehicle type, end-user, radial vs bias and region. Based on vehicle type, the market can be categorized into passenger car, Light commercial vehicles, Medium & Heavy Commercial Vehicles, Off the Road vehicles and two-wheeler.
The passenger car and light commercial vehicles tires account for more than half of tire sales in Saudi Arabia. Passenger car tires are showing an increasing trend both in numbers and revenue. Based on end-user segment, the replacement tire dominates the market while based on radial vs. bias tires, bias tire captured the share of with over 88% in 2020.
The major players in the market include Goodyear Tire & Rubber Company, Bridgestone Corporation, Compagnie Générale des Établissements Michelin SCA, Pirelli, Continental AG, Toyo Tire & Rubber Co. Ltd., Cooper Tire & Rubber Co, Dunlop among others.
“Saudi Arabia Tire Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler and Off the Road Vehicle), By End-User (OEM Vs. Replacement), By Radial Vs Bias, By Distribution Channel (Online and Offline), By Region, Forecast & Opportunities, 2015- 2025” report analyse market, key players, industry trends and expansion plans. These analyses will help the reader to understand the potential worth of investment in the tire market.