Oman Tyre Market Forecast and Opportunities, 2020

Oman is one of the smallest Gulf nations, with a vehicle motorization rate of around 237 vehicles (passenger and commercial vehicles) per 1000 people in 2013. Moderate vehicle motorization rate along with increasing focus on diversification of the economy into non-oil sectors such as construction, tourism, logistics, etc., is forecast to drive growth in the country’s tire market over the next five years. Due to absence of automobile OEMs and tire manufacturing plants in the country, Oman is dependent on imports to address the domestic demand for tires. In 2014, Passenger car accounted for around two-thirds of the total automobile sales and over three-fourths of the total vehicle fleet in Oman. As a result, passenger car tire sales accounted for majority of the tire sales in the country in the same years. Passenger car tire segment is forecast to dominate tire sales during 2015-2020, due to increasing urbanization, strong population growth and rising disposable income levels.

According to “Oman Tyre Market Forecast & Opportunities, 2020’’, growing construction activities, rising disposable income, growing vehicle fleet and growing automobile sales are the prominent factors expected to drive the tire market in Oman during forecast period. Oman’s government five year plan for 2011-2015 attracted investments worth USD70 billion for infrastructure projects, and this in turn, drove demand for commercial vehicle and OTR tires in the country. Due to absence of automobile manufacturing in Oman, the tire market is dependent on the replacement demand, which is being addressed by flagship and Chinese tire brands imported into the country. Though Oman tire market is dominated by leading global tire brands, the market share of international brands in the country is projected to decline during the forecast period due to increasing penetration of Chinese tire brands. Few of the prominent tire brands operating in Oman include Bridgestone, Pirelli, Apollo, Yokohama, Continental, Michelin, and Odyking. “Oman Tyre Market Forecast & Opportunities, 2020” report elaborates following aspects of tire market in Oman:

• Oman Tire Market Size, Share & Forecast
• Segmental Analysis – Passenger Car Tires, Light Commercial Vehicle Tires, Medium & Heavy Commercial Tires & OTR Tires
• Policy & Regulatory Landscape
• Changing Market Trends and Emerging Opportunities
• Competitive Landscape and Strategic Recommendations

• To gain an in-depth understanding of tire market in Oman
• To identify the on-going trends and segment wise anticipated growth in the coming years
• To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
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• To gain competitive knowledge of leading players
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