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Report Description

The Saudi Arabia OTR Tire Market is growing because of developments in infrastructure and construction sector in the country, growth is also being fueled by the creation of smart cities in the country and the implementation of initiatives such as the National Industrial Development and Logistics Program (NIDLP) is expected to support the Saudi Vision 2028. All the infrastructural developments in the country is expected to drive the OTR tire market in Saudi Arabia.

Recent Developments

The growth in the OTR tire industry in Saudi Arabia is because of the rise in the developments in the infrastructure projects. The country is also attracting investments from the foreign investors and the government policies to switch from oil-based economy is also attracting investments in this area and this is leading to the rise in the utilization of the commercial vehicles and in the replacement rate of the tires, especially the OTR tires. Development projects such as Riyadh metro, Makkah Public Transport Program, Al Widyan, Jabal Omar, Diriyah Gate Project, SEDRA Community Home, Al Faisaliah Economic City etc.

As the commercial vehicle utilization will increase in the coming years, the replacement rate will increase. Saudi Arabia tire market is import driven as the country does not manufacture tire and the ease in the trade regulations will also help tire companies to easily import tires to Saudi Arabia. One of the most significant market trends is the rising acceptance of tire retreading, particularly in OTR tires. OTR tire market in Saudi Arabia accounts for the highest share of overall retread tire market in the country. Another significant trend in the market is an increased emphasis on technological advancement. High-tech tires for automobiles are becoming a growing area of focus for tire manufacturers in Saudi Arabia. Several tire manufacturers are developing their technologically advanced new tire offerings to meet changing customer demand for better ride comfort, safety, higher fuel efficiency, and durability.

A further trend in the market is a shift toward online tire sales. Consumers benefit from an increase in e-commerce and online sales because it gives them more options for products to buy. Customers can compare different tire brands, as well as the costs, quality, and specifications of related goods. Overall, the ease in the trade regulations and increase in the infrastructural projects is expected to drive the growth of the Saudi Arabia OTR Tire Market.

Increasing Infrastructural Investments

The automobile industry in Saudi Arabia is expanding at an impressive rate, with demand rising across the board for all types of vehicles. The utilization of vehicles has increased because of the nation's ongoing infrastructure projects, and this has all contributed to an increase in tire demand there. Due to the growing number of infrastructure and construction projects underway in the nation, demand for tires has also increased. The growth dynamics are being favored by the country's rising automobile sales, and in the years ahead, the market is anticipated to create new growth opportunities for Saudi Arabia's tire sector. Major infrastructure that will boost the demand of the OTR tire in the country are Riyadh Metro and will cost around USD 23 billion. Diriyah Gate Project includes 18,500 units and cost an estimated USD 20 billion in investment, similarly Al Faisaliah Economic City will cover 2,450 square kilometers and is valued at USD 10 billion, and there are many other projects and investments undergoing, and  all these factors are expected to lead to the increase in demand of the OTR tires in Saudi Arabia during the forecast period.

Rise in Off-Road Activities

For thrill-seekers from all over the world, Saudi Arabia offers a diverse and pro-adventure landscape. Adventure travel in Saudi Arabia includes many activities like taking part in Red Sea scuba diving to see the marine and many desert off road activities like desert adventure and Dune buggy riding is increasing the demand of the OTR tires in the country and the growth of the tourism sector in the country is also influencing the OTR tire demand in the Saudi Arabia.

Strict Regulatory Policies

During the projection period, the Saudi Arabia OTR tire market's growth is anticipated to be constrained by strict regulatory policies regarding used tires. Used tire sales and imports are forbidden by the Saudi Ministry of Commerce. This is done to lessen the number of traffic accidents that are occurring more frequently in the area because of the use of subpar tires. The ministry has also prohibited the sale of overhauled tires for use in vehicles other than those for which they were originally designed. The market for used tires in the area is anticipated to suffer as a result. Additionally, the Saudi Arabia Standard Organization (SASO) stipulates that imports of auto aftermarket parts must be accompanied by a certificate of conformity. At the Saudi port of entry, shipments that arrive without a certificate of conformity are rejected. Additionally, it is essential for the marketing and labelling of any product brought into Saudi Arabia. All these regulations will act as a hurdle in the projected growth of the Saudi Arabia OTR Tire Market.

The high cost of tires, particularly in the commercial vehicle segment, is expected to limit the growth of the Saudi Arabia OTR tire market over the forecast period. Tires for commercial vehicles such as trucks, trailers, lorries, and others are extremely expensive. Although these tires are roughly used, the initial investment is more. Overall, the increase in the utilization of the OTR tires because of the rise in the construction and other related activities is expected to drive Saudi Arabia OTR tire market during the forecast period.


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Market Segmentation

The Saudi Arabia OTR Tire Market is segmented on the basis of vehicle type, demand category, tire construction type, and by sales channel. Based on vehicle type, the market is segmented into agriculture, construction, mining and material handling. Based on demand category, the market is further bifurcated into OEM and replacement. Based on tire construction type, the market is further bifurcated into radial and bias. Based sales channel, the segment is divided into online and offline. Based on region, the market is segmented into central, western, eastern, southern, and northern region.

Company Profiles

Bridgestone Corporation, Hankook Tire Co., Ltd., Pirelli & C. S.p.A., Goodyear Tire & Rubber Company, Michelin Group, Continental AG, MRF Limited, Apollo Tyres Limited, A Yokohama Rubber Company, Limited and Zhongce Rubber Group Co., Ltd. are the key companies in the region that are developing and suppliying OTR tires.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion, Volume in Thousand Units, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Demand Category

By Tire Construction Type

By Sales Channel

By Region

Regional Scope

Al-Riyadh, Eastern Region, Makkah Al-Mokarramah, Aseer, Al-Qaseem, and Others.

Key Companies Profiled

Bridgestone Corporation, Hankook Tire Co., Ltd., Pirelli & C. S.p.A., Goodyear Tire & Rubber Company, Michelin Group, Continental AG, MRF Limited, Apollo Tyres Limited, Yokohama Rubber Company, Limited and Zhongce Rubber Group Co., Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Saudi Arabia OTR Tire Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Saudi Arabia OTR Tire Market, By Vehicle Type:

    • Agriculture
    • Construction
    • Mining
    • Material Handling

·         Saudi Arabia OTR Tire Market, By Demand Category:

    • OEM
    • Replacement

·         Saudi Arabia OTR Tire Market, By Tire Construction:

    • Radial
    • Bias
  • Saudi Arabia OTR Tire Market, By Sales Channel:
    • Online
    • Offline

·         Saudi Arabia OTR Tire Market, By Region:

o   Central Region

o   Western Region

o   Eastern Region

o   Southern Region

o   Northern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia OTR Tire Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Saudi Arabia OTR Tire Market

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Aided and Unaided Brand Recall

5.3.  Brand Satisfaction Level

6.    Saudi Arabia OTR Tire Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Agriculture, Construction, Mining and Material Handling)

6.2.2.     By Demand Category (OEM Vs. Replacement)

6.2.3.     By Tire Construction Type (Radial Vs Bias)

6.2.4.     By Sales Channel (Online and Offline)

6.2.5.     By Region (Central Region, Western Region, Eastern Region, Southern Region, and Northern Region)

7.    Saudi Arabia Agriculture OTR Tire Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Demand Category (OEM Vs. Replacement)

7.2.2.     By Tire Construction Type (Radial Vs Bias)

7.2.3.     By Sales Channel (Online and Offline)

7.2.4.     By Region (Central Region, Western Region, Eastern Region, Southern Region, and Northern Region)

7.3.  By Company

8.    Saudi Arabia Construction OTR Tire Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Demand Category (OEM Vs. Replacement)

8.2.2.     By Tire Construction Type (Radial Vs Bias)

8.2.3.     By Sales Channel (Online and Offline)

8.2.4.     By Region (Central Region, Western Region, Eastern Region, Southern Region, and Northern Region)

8.2.5.     By Company

9.    Saudi Arabia Mining OTR Tire Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Demand Category (OEM Vs. Replacement)

9.2.2.     By Tire Construction Type (Radial Vs Bias)

9.2.3.     By Sales Channel (Online and Offline)

9.2.4.     By Region (Central Region, Western Region, Eastern Region, Southern Region, and Northern Region)

9.2.5.     By Company

10.  Saudi Arabia Material Handling Tire Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Demand Category (OEM Vs. Replacement)

10.2.2.  By Tire Construction Type (Radial Vs Bias)

10.2.3.  By Sales Channel (Online and Offline)

10.2.4.  By Region (Central Region, Western Region, Eastern Region, Southern Region, and Northern Region)

10.2.5.  By Company

11.  Developments in the Industry

11.1.              Key Investments in the Market

11.2.              Technological Developments

11.3.              Key Takeaways

12.  Market Dynamics

12.1.              Drivers

12.1.1.  Increasing Infrastructural Investment.

12.1.2.  Rise in Off road activities.

12.2.              Challenges

12.2.1.  Regulatory Policies

13.  Market Trends

13.1.              Surge in R&D and Technological Advancements

13.2.              Rise in Investments

14.  Porter’s Five Forces Model

14.1.              Competition Landscape

14.2.              Buyer Power

14.3.              Supplier Power

14.4.              Threat of New Entrants

14.5.              Threat of Substitutes

15.  Competitive Landscape

15.1.              Bridgestone Corporation

15.1.1.  Company Details

15.1.2.  Products & Services

15.1.3.  Financial (As Reported)

15.1.4.  Key Market Focus & Geographical Presence

15.1.5.  Recent Development

15.1.6.  Key Management Personnel

15.2.              Hankook Tire Co., Ltd.

15.2.1.  Company Details

15.2.2.  Products & Services

15.2.3.  Financial (As Reported)

15.2.4.  Key Market Focus & Geographical Presence

15.2.5.  Recent Development

15.2.6.  Key Management Personnel

15.3.              Pirelli & C. S.p.A.

15.3.1.  Company Details

15.3.2.  Products & Services

15.3.3.  Financial (As Reported)

15.3.4.  Key Market Focus & Geographical Presence

15.3.5.  Recent Development

15.3.6.  Key Management Personnel

15.4.              Goodyear Tire & Rubber Company

15.4.1.  Company Details

15.4.2.  Products & Services

15.4.3.  Financial (As Reported)

15.4.4.  Key Market Focus & Geographical Presence

15.4.5.  Recent Development

15.4.6.  Key Management Personnel

15.5.              Michelin Group

15.5.1.  Company Details

15.5.2.  Products & Services

15.5.3.  Financial (As Reported)

15.5.4.  Key Market Focus & Geographical Presence

15.5.5.  Recent Development

15.5.6.  Key Management Personnel

15.6.              Continental AG

15.6.1.  Company Details

15.6.2.  Products & Services

15.6.3.  Financial (As Reported)

15.6.4.  Key Market Focus & Geographical Presence

15.6.5.  Recent Development

15.6.6.  Key Management Personnel

15.7.              MRF Limited

15.7.1.  Company Details

15.7.2.  Products & Services

15.7.3.  Financial (As Reported)

15.7.4.  Key Market Focus & Geographical Presence

15.7.5.  Recent Development

15.7.6.  Key Management Personnel

15.8.              Apollo Tyres Limited

15.8.1.  Company Details

15.8.2.  Products & Services

15.8.3.  Financial (As Reported)

15.8.4.  Key Market Focus & Geographical Presence

15.8.5.  Recent Development

15.8.6.  Key Management Personnel

15.9.              Yokohama Rubber Company, Limited

15.9.1.  Company Details

15.9.2.  Products & Services

15.9.3.  Financial (As Reported)

15.9.4.  Key Market Focus & Geographical Presence

15.9.5.  Recent Development

15.9.6.  Key Management Personnel

15.10.            Zhongce Rubber Group Co., Ltd.

15.10.1.                Company Details

15.10.2.                Products & Services

15.10.3.                Financial (As Reported)

15.10.4.                Key Market Focus & Geographical Presence

15.10.5.                Recent Development

15.10.6.                Key Management Personnel

16.  Strategic Recommendations

16.1.              Key Focus Areas

16.2.              Target Regions & Countries

16.3.              Target Type

16.4.              Target Category

About Us & Disclaimer

Figures and Tables

Frequently asked questions

Frequently asked questions

The rise in the construction activities and the increase in the investments in the infrastructure projects is expected to drive the Saudi Arabia OTR Tire Market during the forecast period.

The replacement segment is leading in this category as the replacement rate of the OTR tires is high because of rough usage in different terrains.

The major player contributing to the Saudi Arabia OTR Tire Market are Bridgestone Corporation, Hankook Tire Co., Ltd., Pirelli & C. S.p.A., Goodyear Tire & Rubber Company, Michelin Group, Continental AG, MRF Limited etc.

The Bias segment is leading in the Tire Construction Type contributes major in this category it is followed by Radial segment.

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