Egypt Tire Market to Reach $ 1.8 Billion by 2030
Continuously growing
automobile sales and increasing fleet of vehicles in the region to drive Egypt
tire market through 2030
According
to TechSci Research report, “Egypt
Tire Market By Vehicle Type, By Demand Category, By Radial Vs Bias,
Competition, Forecast & Opportunities, 2030”, Egypt tire is projected to reach $ 1.8 billion, by the
end of 2030. The growth in the market is led by rising tire sales across Egypt as
well as growing population and vehicle fleet. In addition to that, the
expanding ventures by leading OEM Manufacturers, growing inclination of
consumers towards tire market and the growing sales of passenger cars,
two-wheelers and commercial vehicles, is further anticipated to compliment the
overall tire market in Egypt over the next five years.
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market data Tables and 42 Figures spread through 85 Pages and an in-depth TOC on "Egypt
Tire Market "
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With an
expanding volume share of around 47% in 2018, passenger car tire segment dominated
Egypt tire market, followed by the commercial vehicle tire segment. Dominance
of this segment can be attributed to improving economic scenario, growing per
capita income, increase in production and sales of passenger cars coupled with
rising demand for tires from the replacement segment and imposing ban on used
vehicle import.
Rising presence
of various companies such as Bridgestone, Michelin,
Continental AG, Maxxis, Falken, Trenco, Pirelli, Goodyear, etc., and
their continued operations in the tire industry of the country is further
anticipated to intensify the Egypt tire market during the next ten years.
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“With the
aid of foreign direct investment policy in Egypt and technological advancements
like pressure monitoring system, fuel efficiency tires along with growing
vehicle fleet, the demand for tires is expected to grow in Egypt. Moreover, automotive
industry witnessed a healthy sales growth in the last few years and the same
trend is expected to continue in the coming years as well, which would further steer growth in the market.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Egypt Tire Market By
Vehicle Type, By Demand Category, By Radial Vs Bias, Competition, Forecast
& Opportunities, 2030” has analyzed the potential of tire market across Egypt,
and provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyses emerging trends along with essential
drivers and key challenges faced by Egypt tire market.
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