Press Release

Advanced Tire Market to Grow with a CAGR of 6.17% in UAE through to 2028

The major drivers for the UAE Advanced Tire Market include a growing automotive industry, a preference for high-performance and luxury vehicles, and increasing awareness of the safety and performance benefits offered by advanced tires in a region known for its high temperatures and diverse road conditions.  

 

According to TechSci Research report, “UAE Advanced Tire Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the UAE Advanced Tire Market stood at USD 120 Million in 2022 and is anticipated to grow with a CAGR of 6.17% in the forecast period, 2024-2028. The UAE Advanced Tire Market is experiencing significant growth due to multiple driving factors. Firstly, the market is being fueled by the increased sales of vehicles, particularly luxury and semi-luxury models, which are in high demand. Moreover, there is a growing awareness among consumers about the importance of using advanced tires to enhance fuel efficiency and reduce carbon emissions, thus contributing to the market expansion. Additionally, the UAE's robust infrastructure and thriving tourism sector have created a surge in the demand for advanced tires. Furthermore, the country's strategic location as a global transportation and logistics hub has attracted international businesses and investors, leading to an increased need for advanced tires to support the growing automotive industry. The UAE's favorable business environment and government initiatives to promote innovation and sustainability have also played a crucial role in driving the growth of the Advanced Tire Market. Moreover, the market is witnessing a shift towards eco-friendly and technologically advanced automotive components, and advanced tires are at the forefront of this trend. With advancements in tire technology, such as run-flat tires, self-sealing tires, and low rolling resistance tires, consumers are becoming more inclined to invest in these innovative products to enhance their driving experience and reduce environmental impact.

In addition, the UAE's commitment to hosting major international events, such as the Dubai Expo 2020, has further boosted the demand for advanced tires. The influx of visitors and the increased activities related to transportation and logistics during these events create a favorable environment for the growth of the Advanced Tire Market. With these factors at play, the market is poised for continued success and advancement in the foreseeable future. The UAE Advanced Tire Market is not only driven by the demand for high-performance tires but also by the need for sustainable and technologically advanced solutions that align with the country's vision for a greener and more efficient transportation sector.

 

Browse over 26 market data Figures spread through 91 Pages and an in-depth TOC on "UAE Advanced Tire Market 

 

The UAE Advanced Tire Market is a highly dynamic and rapidly evolving sector, primarily influenced by the distinctive characteristics of the country's automotive landscape and the ever-changing preferences of consumers. This comprehensive market overview aims to provide valuable insights into the key aspects that define and shape the UAE's advanced tire market, including market trends, competitive dynamics, technological advancements, and regulatory landscape. By delving deeper into these factors, stakeholders can gain a comprehensive understanding of this vibrant market and make informed decisions to capitalize on the immense opportunities it presents. The UAE Advanced Tire Market has experienced steady growth in recent years, driven by factors such as the country's expanding automotive sector, a preference for high-performance vehicles, and a growing awareness of advanced tire technologies. The market encompasses various tire categories, including run-flat tires, eco-friendly tires, and high-performance tires, catering to a diverse range of consumer needs.

Consumer preferences in the UAE are heavily influenced by the country's deep-rooted affinity for luxury and high-performance vehicles. With a strong emphasis on elegance and power, discerning consumers seek out advanced tires that can deliver superior handling, precise braking, and unwavering stability. These qualities are of utmost importance in a region known for its extreme weather conditions, where the demand for top-notch tires is paramount. Among the various tire options available, run-flat tires are gaining increasing popularity due to their innovative safety features, providing drivers with an added sense of confidence and peace of mind on the roads.

The UAE Advanced Tire Market is marked by continuous technological advancements. Manufacturers are incorporating innovative features into tires, such as smart tire sensors that monitor tire pressure and tread wear in real-time. These advancements align with the country's reputation for embracing cutting-edge technology in various industries.

Safety and sustainability are paramount concerns for consumers in the UAE. Advanced tires are designed to offer enhanced safety features, including shorter braking distances and better traction. Additionally, there is a growing interest in eco-friendly tires that improve fuel efficiency and reduce carbon emissions, aligning with global environmental goals.

The distribution landscape of advanced tires in the UAE includes traditional brick-and-mortar tire dealerships, auto service centers, and an increasing presence of online tire sales platforms. Consumers appreciate the convenience of purchasing tires online and having them delivered or installed at their preferred locations.

The UAE has regulations and standards in place to ensure tire safety and performance. Manufacturers and importers must adhere to these regulations, including labeling requirements and safety standards, to ensure the authenticity and quality of tires in the market.

While the UAE Advanced Tire Market presents significant growth opportunities, it also faces challenges such as intense competition, price sensitivity among consumers, the need for consumer education, and counterfeit product concerns. Companies in this market must navigate these challenges to thrive and establish a strong presence.

In conclusion, the UAE Advanced Tire Market is a thriving and competitive sector driven by consumer preferences for high-performance and safety-oriented vehicles. Technological advancements, a focus on safety and sustainability, evolving distribution channels, and regulatory compliance are key factors shaping this market's landscape. As the UAE continues to embrace automotive innovations, the advanced tire market is poised for further growth and innovation.  

 

Major companies operating in UAE Advanced 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.  

 

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“The major drivers for the UAE Advanced Tire Market can be attributed to a number of factors. First, the increased vehicle sales along with the growing demand for luxury and semi-luxury vehicles are significantly contributing to the market growth. Secondly, the rising awareness regarding the significance of using advanced tires for better fuel efficiency and reducing carbon emissions is also propelling the market. Additionally, the presence of robust infrastructure, coupled with the growing tourism sector in the UAE, has led to an increased demand for advanced tires. Finally, the government-led initiatives promoting the use of eco-friendly and technologically advanced automotive components are further driving the Advanced Tire Market in the UAE.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

UAE Advanced Tire Market UAE Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented Market By Vehicle Type (On-Highway Vehicle and Off-Highway Vehicle), By Technology (On-Highway Vehicle Technology and Off-Highway Vehicle Technology), By Tire Type (Run-Flat, Airless and Pneumatic), By Material Type (Natural Rubber, Synthetic Rubber, Steel, Elastomers and Others), By Region, Competition”, has evaluated the future growth potential of UAE Advanced 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 take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in UAE Advanced Tire Market.       


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Mr. Ken Mathews

Techsci Research LLC

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New York, United States- 10170

Tel: +13322586602

Email: [email protected]               

Website: www.techsciresearch.com               

Relevant Reports

UAE Advanced Tire Market By Vehicle Type (On-Highway Vehicle and Off-Highway Vehicle), By Technology (On-Highway Vehicle Technology and Off-Highway Vehicle Technology), By Tire Type (Run-Flat, Airless and Pneumatic), By Material Type (Natural Rubber, Synthetic Rubber, Steel, Elastomers and Others), By Region, Competition, Forecast & Opportunities, 2018-2028

Automotive | Nov, 2023

The major drivers for the UAE Advanced Tire Market include a growing automotive industry, a preference for high-performance and luxury vehicles, and increasing awareness of the safety and performance benefits offered by advanced tires in a region known for its high temperatures and diverse road conditions.

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