Oman Tire Market to Grow with a CAGR of 9.34% through 2030
Rising vehicle ownership, expanding road infrastructure projects, and
growing demand for replacement tires are the factors driving the market in the
forecast period 2026–2030.
According to TechSci Research report, “Oman Tire Market – Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”,
The Oman Tire Market was valued at USD 158.54 Million in 2024 and is expected
to reach USD 270.91 Million by 2030 with a CAGR of 9.34% during the forecast
period.
The Oman tire market is on an upward trajectory, fueled by expanding
infrastructure, increasing vehicle sales, and a growing demand for specialized
tires. As the country continues to modernize its transport infrastructure, the
number of vehicles on the road, both personal and commercial, is increasing
steadily. This surge in vehicle numbers leads to a higher frequency of tire
replacements, particularly in urban areas where road traffic is more intense.
Furthermore, rising awareness of vehicle performance, maintenance, and safety
is encouraging consumers to prioritize high-quality tires over low-cost
alternatives. This trend is further supported by the government’s initiatives
to improve road networks, which directly impact tire wear and demand for more
durable products.
Innovation is also driving growth in the market. With advancements in
tire technology, consumers are increasingly attracted to products offering
better fuel efficiency, enhanced durability, and more eco-friendly options. The
shift toward all-season and performance tires tailored to specific
environmental conditions, such as extreme heat and desert terrain, is becoming
more pronounced. These tires offer improved performance and longer life,
catering to the unique challenges posed by Oman’s climate and road conditions.
Tire manufacturers are responding to this demand by enhancing their product
portfolios with a focus on high-performance options that combine safety with
cost-effectiveness.
The rise of digital platforms is transforming how tires are purchased in
Oman. Online retail channels are gaining traction, providing consumers with
greater access to a variety of tire brands and types, along with transparent
pricing and convenience in installation services. This shift toward e-commerce
is reshaping the buying experience, allowing for easier comparisons and greater
consumer choice. However, the market is not without challenges. Rising costs of
raw materials, coupled with global supply chain disruptions, continue to pose
risks for manufacturers, potentially leading to price fluctuations that may
impact consumer purchasing decisions. Furthermore, the presence of unbranded,
low-cost tires from regional markets adds pressure on local tire distributors,
complicating the competitive landscape. Despite these challenges, the growing
demand for high-quality, performance-driven tires, coupled with advancements in
technology and digital retail, positions Oman’s tire market for sustained
growth in the coming years.
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Oman Tire Market Is Segmented by Vehicle
Type, Demand Category, Tire Construction Type, and By Region.
The passenger car segment emerged
as the fastest-growing category in the Oman tire market in 2024. As the demand
for personal vehicles continues to rise, the need for replacement tires has
become more pronounced. Factors such as increasing disposable income, a growing
middle class, and improved economic conditions are contributing to a higher
number of passenger cars on the road. This trend is supported by a shift toward
better-performing vehicles, where consumers are focusing on fuel efficiency,
safety, and comfort. Consequently, tires designed for passenger cars are
evolving to meet these demands, with innovations such as longer-lasting tread
patterns, enhanced durability, and improved road grip. As road conditions
improve and vehicle usage increases, the frequency of tire replacements for
passenger vehicles is also on the rise, further driving growth in this segment.
The shift in consumer preferences towards more technologically advanced and
environmentally friendly tires for passenger cars is expected to continue as
the sector expands.
The Dhofar region is set to
be the fastest-growing area for the tire market in 2024. As the demand for
passenger cars surges, Dhofar’s economic growth, combined with a rise in
infrastructure projects, is contributing to the increased number of vehicles on
the road. The region's expanding population and improved road networks also
lead to higher tire consumption, particularly for passenger cars. The
availability of better retail and distribution channels is making it easier for
consumers to access high-quality tires, further supporting market growth. As
the region’s vehicle fleet grows, the demand for replacement tires, especially
in the passenger car segment, is expected to see a marked increase, solidifying
Dhofar's position as a key driver of the tire market in Oman.
Major Market Players
Operating in Oman Tire Market Are:
- Bridgestone Corporation
- Continental AG
- Goodyear Tire & Rubber Company
- Sumitomo Rubber Industries Ltd
- Michelin Group
- Pirelli & C. S.p.A.
- Yokohama Rubber Company Limited
- Kumho Tire Co. Inc
- BFGoodrich Tyres
- Hankook Tire & Technology Co., Ltd.
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The Oman tire market is showing great potential as
more people buy cars and the demand for high-quality, durable tires grows. With
more vehicles on the road and an increasing focus on safety and performance, I
believe we’ll see a strong rise in the need for better tires, especially for
passenger cars. It’s an exciting time for the industry, and I’m confident that
with the right innovations and strategies, the market will continue to thrive
in the coming years, said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
The report titled “Oman Tire Market – 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”,
assesses the market's future growth potential and provides data on market size,
trends, and forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the Oman Tire
Market.
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