Egypt Tire Market to Grow with a CAGR of 8.36% Through 2030
In Egypt, government initiatives to boost local tire manufacturing,
policies supporting domestic production, and incentives for manufacturers to
set up plants in the country are the factors driving the market in the forecast
period 2026-2030.
According to TechSci Research report, “Egypt Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2030F”
" the Egypt Tire market was valued at USD 740.5 Million in 2024 and is
expected to reach USD 1189.3 Million by 2030 with a CAGR of 8.36% during the
forecast period.
The Egypt tire market is experiencing significant growth driven by
increasing investments from global manufacturers and strong government initiatives
to boost local production. As Egypt positions itself as a strategic hub for the
Middle East and African regions, foreign investments are enhancing the
country’s manufacturing capabilities to cater to growing regional demand. The
government’s support for local manufacturing aims to reduce dependency on
imports while improving production quality. This combination of global interest
and local policy efforts will continue to support the market's growth through
2026-2030. The tire market in Egypt is entering a dynamic growth phase, fueled
by increasing investments from global players and a strong governmental push
towards local manufacturing. With Egypt strategically located as a central hub
for the Middle East and Africa, global tire manufacturers are keenly investing
in the country, recognizing its potential as a key production center for the
entire region. This influx of investment is not only aimed at meeting domestic
demand but also at leveraging Egypt’s proximity to growing markets in Africa and
the Middle East. The government’s supportive policies, such as tax incentives
and industrial growth zones, are creating a favorable environment for local
tire manufacturing. These initiatives are driving the establishment of
state-of-the-art tire production facilities, which aim to reduce Egypt’s
dependency on imports while enhancing the quality and competitiveness of
locally produced tires.
As global players look to
capture growth opportunities in the wider Middle Eastern and African regions,
Egypt’s tire market has become increasingly attractive due to its developing
infrastructure, skilled workforce, and favorable economic conditions. With
expanding vehicle fleets and rising consumer demand for both passenger and
commercial vehicles, the need for high-quality, cost-efficient tires is
growing. The local manufacturing capabilities are being enhanced to cater not
only to Egypt’s domestic market but also to export markets in neighboring
regions. The government’s commitment to bolstering the local manufacturing
sector, alongside the global players’ investments, has positioned Egypt as a
key player in the regional tire industry.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on the "Egypt Tire Market"
The Egypt Tire Market is
segmented into Vehicle Type, Demand Category, Tire Construction Type, and Region.
In 2024, the Light
Commercial Vehicle (LCV) segment is expected to be the fastest-growing category
in Egypt’s tire market. The demand for LCV tires has been steadily increasing,
driven by the growth of small businesses, logistics, and e-commerce industries.
LCVs, which include vans, small trucks, and delivery vehicles, play a crucial
role in the transportation of goods and services, making them an essential part
of the economy. As the e-commerce sector continues to expand, particularly with
the surge in online shopping, the need for efficient delivery vehicles has
skyrocketed. This has led to a growing demand for LCVs, which, in turn, fuels
the need for replacement tires.
The growth of the LCV
segment is also supported by the rising number of small businesses that rely on
these vehicles for daily operations. As these businesses expand, they invest in
fleets of LCVs, which increases the demand for both original and replacement
tires. Furthermore, LCVs are commonly used for last-mile delivery services, a
rapidly growing sector in Egypt. With the increasing demand for goods
transportation, LCV tire sales are expected to experience significant growth in
2024.
Tires for LCVs are in high
demand due to their role in transporting goods across urban and rural areas,
often under challenging road conditions. The tires required for these vehicles
must balance durability, load-bearing capacity, and fuel efficiency, making the
aftermarket segment particularly vital for this vehicle category. As fleet
operators and small businesses look to maintain the efficiency and safety of
their vehicles, they seek tires that offer good performance and longevity at a
reasonable price, contributing to the growth of the tire market for LCVs.
The Sharqiya region is
expected to emerge as the fastest-growing area for tire demand in Egypt in
2024. Located in the northeastern part of the country, Sharqiya has seen a
significant increase in industrial development and infrastructure projects. The
growing number of commercial activities in the region, along with the expanding
transport networks, has led to a rise in the demand for tires across various
vehicle categories, particularly for commercial and light vehicles. The
presence of key logistics and manufacturing industries in Sharqiya further drives
the need for tires, as the region serves as a critical hub for transportation
and distribution. This economic growth, combined with increasing vehicle
ownership, positions Sharqiya as a key driver in the tire market’s expansion.
Major market players
operating in the Egypt Tire market are:
- Bridgestone Middle East
& Africa FZE
- Goodyear Middle East
FZE
- Zhongce Rubber Group
Co., Ltd.
- Michelin AIM FZE
- Prometeon Tyre Egypt
Co.
- Continental Middle East
DMCC
- Sumitomo Rubber Middle
East FZE
- Pyramids Tires Co.
- Transport and
Engineering Company (Trenco)
- Shandong Linglong Tyre
Co., Ltd.
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"As the automotive market in Egypt continues to grow, we’re seeing
a clear increase in the demand for quality tires. With more cars and commercial
vehicles hitting the roads, especially in cities like Alexandria, the need for
tires that can handle different road conditions is growing fast. The
government’s push to boost local tire production, along with strong investments
from global players, is making Egypt an even more attractive market. All of
this is creating a strong environment for tire growth, and we expect this trend
to continue in the coming years," said Mr. Karan Chechi, Research Director
of TechSci Research, a research-based global management consulting firm.
The report titled “Egypt Tire Market –Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented By Vehicle Type (Passenger Car,
Two-Wheelers, Light Commercial Vehicles (LCV), Medium & Heavy Commercial
Vehicles (M&HCV)), By Demand Category (OEM, Aftermarket), By Tire
Construction Type (Radial, Bias), By Region, By Competition, 2020- 2030F”, evaluates the future
growth potential of Egypt Tire market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision-makers make sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the Egypt
Tire market.
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