UAE tire market stood around USD 220 million in 2019 and is projected to cross USD 420 million, exhibiting a CAGR of more than 11% during 2020-2025. The UAE tire market is growing at an impressive rate owing to the rise in demand for sedans for personal use and SUVs for off-roading and sports activities and increasing number of tourists resulting in expanding the fleet size of passenger vehicles. The UAE government has approved a budget of USD 2.18 billion for the development of infrastructure during 2020-2022. With a large number of ongoing construction projects and others in the pipeline, the demand for medium and heavy commercial vehicles is expected to increase during the forecast period and consequently, the market for their tires is also anticipated to grow in the UAE. The continuous business focus of leading tire companies across the country through an increase of dealership and their continuing addition of product portfolio of tires is anticipated to intensify the competition in the UAE tire market over the next five years. Tire players are also increasing their focus on launching performance-oriented tires to better suit different driving conditions, which is further anticipated to elevate the level of technological advancements in the UAE tire market in the coming years.
The UAE tire market is majorly dominated by Dubai, followed by Abu Dhabi and Sharjah. These emirates are the major business and commercial centers in the country, and cumulatively account for more than 80% of the market share in the UAE tire market.
In 2019, the UAE tire market was dominated by passenger car tires accounting for more than 85% market share. The demand for passenger car tires is expected to maintain its dominance during the forecast period. Major companies operating in the UAE tire market are expanding their dealer/distributor network as well as expanding their product portfolio with high-performance tires to meet the requirements of different driving conditions. Bridgestone, Michelin, Dunlop, Hankook, Yokohama, among others are some of the leading players operating in the UAE tire market.
Chinese tire companies are witnessing growth in sales due to their low prices and ease of availability across the country.
- Historical Period: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast the market size of the UAE tire market.
- To classify and forecast UAE tire market based on vehicle type, demand category and regional distribution.
- To identify drivers and challenges for UAE tire market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in UAE tire market.
- To conduct the pricing analysis for UAE tire market.
- To identify and analyze the profile of leading players involved in the UAE tire market.
Key Target Audience:
- Tire manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to tire market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as tire manufacturers, distributors and dealers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, UAE tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Vehicle Type:
o Passenger Car
o LCV
o M&HCV
o Two wheeler
o OTR- Market, by Tire Type:
o Radial
o Bias
- Market, by Sales Channel:
o Offline
o Online
- Market, by Region:
o Dubai
o Abu Dhabi
o Sharjah
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