DUBLIN—The "GCC Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022" report has been added to Research and Markets' offering.

The GCC tire market reached a volume of nearly 40 Million Units in 2016, growing at a CAGR of more than 6% during 2009-2016.

The market for tires in the GCC region was predominantly import driven, with a considerable penetration of Chinese tire brands, owing to their affordability and easy availability. However, over the past several years, the flagships brands have been gaining momentum as a result of high-quality assurance and extended life-cycle of the products they offer. Moreover, the flagships brands are employing various marketing techniques to create opportunities in the areas related to the automobile industry, such as introducing car accessories and providing F&I (finance and insurance) services. This has contributed significantly in enhancing their profit margins.

In the GCC countries, only a small section of consumers contributes to the sales of new vehicles, whereas, the majority of them prefer used vehicles. As a result, there is a high demand for tires, particularly replacement tire, for the used cars. This emerges as a major force behind the growth of the tire market in the region. Apart from this, many consumers also like upgrading and customizing their vehicles, and change tires as per their requirements. Some of the other growth inducing factors include rising immigration rates and the establishment of local tire manufacturing facilities. Further, the market is expected to reach a volume of around 55 Million Units by 2022.

Key Players:

  • Bridgestone
  • Michelin
  • Continental
  • Goodyear
  • Yokohama

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Tire Industry

6 GCC Tire Industry

8 Market by Type

9 Market by Application

10 Competitive Landscape

11 Tire Manufacturing Process

12 Project Details, Requirements and Costs Involved

13 Loans and Financial Assistance

14 Project Economics

15 Key Player Profiles

For more information about this report visit https://www.researchandmarkets.com/research/9lhxfz/gcc_tire_market.

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Related Topics: Automotive Tires