Get more information about the market: http://bit.ly/2CDPkmv The GCC tire market exhibited a CAGR of more than 6% during 2010-2017, reaching a volume of nearly 42 Million Units in 2017. A tire is a ring-shaped structure that covers the rim of a wheel and transfers the vehicle’s load onto the road as well as provides traction. Want more information about this market? Request a free report sample: https://www.imarcgroup.com/request?type=report&id=815&flag=B Contact Us IMARC Group USA: +1-631-791-1145 Email: sales@imarcgroup.com Website: https://www.imarcgroup.com Follow us on twitter: @imarcglobal

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GCC Tire Market Fuelled by Increasing Commercial Vehicle
Fleet

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3. Report DescriptionReport Description and Highlights
GCC Tire Market Fuelled by Increasing Commercial Vehicle
Fleet
The GCC tire market has been exhibiting a positive growth over the past few years. This can be attributed to
the investments being made in the construction sector, improving economic scenario as well as a flourishing
tourism industry.
According to the latest report by IMARC Group, titled “GCC Tire Market: Industry Trends, Share, Size,
Growth, Opportunity and Forecast 2018-2023”, the GCC tire market exhibited a CAGR of more than 6%
during 2010-2017, reaching a volume of nearly 42 Million Units in 2017. A tire is a ring-shaped structure that
covers the rim of a wheel and transfers the vehicle’s load onto the road as well as provides traction. Tires are
manufactured using various materials including natural rubber, synthetic rubber, wire and fabric along with
other chemical compounds like carbon black. In the GCC region, the overall sales of tires have been
increasing on account of rugged terrain and hot climatic conditions which have a negative effect on the
lifespan of the tires. Additionally, as the mass consumers in these countries prefer to buy used vehicles
instead of new ones, it has created a steady demand for replacing old tires.

4. Report DescriptionReport Description and Highlights
GCC Tire Market Trends:
Over the past few years, the tire market in the GCC region has been gaining momentum owing to the
improving economic scenario which has resulted in a rise in the disposable incomes of the consumers.
This has increased their purchasing power, in turn, stimulating the sales of luxury vehicles and tires from
premium brands. The growth can also be accredited to rising investments in the construction sector which
have provided a boost to the production of commercial vehicles. Apart from this, flourishing tourism
sector and increasing vehicle motorization rate are some of the other factors which have positively
influenced the growth of the market. The introduction of technologically improved tire varieties which
offer enhanced vehicle safety and fuel efficiency has further impelled the market. However, there is a lack
of tire manufacturing establishments in the region which acts as a major hinderance to the GCC tire
market. Looking forward, the market volume is projected to reach around 59 Million Units by 2023.
Read more here: http://bit.ly/2CDPkmv

5. Report DescriptionReport Description and Highlights
Want more information about this market? Request a free report sample: http://bit.ly/2CD0dVs

6. GCC Tire Market Summary:
• On the basis of type, the market has been segmented into OEM and replacement tires. The demand for
OEM tires is being fuelled by a stable growth in automobile production, whereas, replacement cycles and
rising vehicle population drive the sales of replacement tires.
• Tires currently find myriad applications across various sectors. Some of the major application segments
include passenger vehicles, light commercial vehicles and heavy commercial vehicles.
• On a geographical front, Saudi Arabia enjoys the leading position in the GCC tire market. This is due to
the increasing automobile sales and large fleet size across the country. Saudi Arabia is followed by the
UAE, Kuwait, Qatar, Bahrain and Oman.
• The competitive landscape of the market has also been examined with some of the key players being
Bridgestone, Michelin, Continental, Goodyear and Yokohama.
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Report Description and Highlights

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