UAE Tire Market Trends, Share, Growth Drivers, CAGR Status, Demand, Business Opportunities and Future Outlook 2023-2033: SPER Market Research
A rubber tyre has an air cushion inside it that fits around the wheel and is constructed of rubber. Its main function is to protect the rim of the wheel and act as a tractive force between the car and the road. Additionally, tyres offer a flexible cushion that lessens vehicle vibrations and absorbs stress. A rubber tyre is made up of tread, jointless cap heaps, beads, and additional components including cloth, carbon black, and synthetic rubber.
According to SPER market research, ‘UAE Tire Market Size- By Type of Vehicle, By Type of Tire, By Rim Diameter, By Sales Channel, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the UAE Tire Market is predicted to reach USD 0.98 billion by 2033 with a CAGR of 11.24%.
The UAE is one of the most significant markets for private automobiles in the world because of the high disposable income and steady fuel prices. The demand for tyres is anticipated to increase during the forecast period due to the UAE’s rapidly expanding new and used automobile markets. The UAE tyre market is expanding as a result of favourable government efforts and tyre safety standards. Tyres for passenger cars must be sold and replaced after two and five years, respectively, in accordance with UAE legislation. Vehicles that violate these regulations face steep fines. As a result, vehicle owners in the UAE regularly service replace their vehicles every five years. The UAE tyre market is expanding as a result of such activities.
On the other hand, due to strict tyre safety regulations, huge quantities of rubber tyres are disposed of as waste in the UAE. Burning tyres releases toxic smoke that is dangerous to both people and the environment. The tyre graveyard in Kuwait, which is the biggest one in the world, contains more than 60 million used car tyres. A fire recently broke out and released a gas that was thought to be cancer-causing to people. The development of the tyre market in the UAE is significantly hampered by these factors.
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Impact of COVID-19 on UAE Tire Market
Furthermore, the abrupt COVID-19 pandemic outbreak severely curtailed the UAE’s economic activity. Due to the pandemic’s effects, the UAE tyre market was forced to contend with a number of difficulties. There was a shortage of tyres during this time as imports and exports were temporarily prohibited due to the government’s stringent lockdown. Moreover, fewer replacement tyres were sold as a result of shutdown limitations. Additionally, the market for tyres suffered significant losses during this period due to the dramatic fall in the demand for automobiles. Over the following five years, the industry is anticipated to recover as the area resumes work on significant projects.
UAE Tyre Market Key Players:
Geographically, Dubai dominates the UAE Automotive Tire Market, followed by Abu Dhabi and Sharjah as the nation’s major economic and business hubs. Additionally, some of the market key players are Michelin, Goodyear Tire and Rubber Company, Dunlop Tyres, Cooper Tire and Rubber Company, Others.
UAE Automotive Tire Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Type of Vehicle:
- Light Commercial Vehicle
- Medium and Heavy Commercial Vehicles
- Off the Road (OTR)
- Passenger Car
- Two Wheelers
By Type of Tire:
- Bias
- Radial
By Rim Diameter:
- Upto 12”
- 12.1” to 15”
- 15.1.” to 18”
- 18.1” to 20”
- 20.1” to 22.5”
- 22.6” to 26”
- 26.1” to 35”
- 35.1” to 47”
- Above 47”
By Sales Channel:
- Dealer/Exclusive Outlets
- Online
- Others
By Region:
- Eastern Region
- Northern Region
- Southern Region
- Western Region
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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