Saudi Arabia OTR Tire Market By Vehicle Type (Agriculture, Construction, Mining and Others) By Demand Category (OEM and Replacement), By Tire Construction Type (Radial and Bias), By Sales Channel (Online, Offline), By Region Competition, Forecast & Opportunities, 2018 – 2028
The Saudi Arabia OTR Tire Market is growing because of developments in the 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 are 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 infrastructure projects. The country is also attracting investments from foreign investors, and the government policies to switch from an oil-based economy are also attracting investments in this area, and this is leading to the rise in the utilization of commercial vehicles and in the replacement rate of 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 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 tires, 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. The OTR tire market in Saudi Arabia accounts for the highest share of the 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, the 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. The major infrastructure that will boost the demand for OTR tires in the country is Riyadh Metro which will cost around USD 23 billion. Diriyah Gate Project includes 18,500 units and costs 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 for 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 deserts; off-road activities like desert adventure and Dune buggy riding are increasing the demand for OTR tires in the country, and the growth of the tourism sector in the country is also influencing the OTR tire demand in 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 labeling 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 OTR tires because of the rise in construction and other related activities is expected to drive Saudi Arabia OTR tire market during the forecast period.
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 Others. Based on the 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 on sales channels, the segment is divided into online and offline. Based on region, the market is segmented into central, western, eastern, southern, and northern regions.
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 supplying OTR tires.
Report Scope:
In this report, Saudi Arabia OTR Tire Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
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
Recent Developments
The growth in the OTR tire industry in Saudi Arabia is because of the rise in the developments in infrastructure projects. The country is also attracting investments from foreign investors, and the government policies to switch from an oil-based economy are also attracting investments in this area, and this is leading to the rise in the utilization of commercial vehicles and in the replacement rate of 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 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 tires, 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. The OTR tire market in Saudi Arabia accounts for the highest share of the 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, the 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. The major infrastructure that will boost the demand for OTR tires in the country is Riyadh Metro which will cost around USD 23 billion. Diriyah Gate Project includes 18,500 units and costs 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 for 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 deserts; off-road activities like desert adventure and Dune buggy riding are increasing the demand for OTR tires in the country, and the growth of the tourism sector in the country is also influencing the OTR tire demand in 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 labeling 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 OTR tires because of the rise in construction and other related activities is expected to drive Saudi Arabia OTR tire market during the forecast period.
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 Others. Based on the 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 on sales channels, the segment is divided into online and offline. Based on region, the market is segmented into central, western, eastern, southern, and northern regions.
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 supplying OTR tires.
Report Scope:
In this report, Saudi Arabia OTR Tire Market has been segmented into the 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
- Others
- 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:
- Central Region
- Western Region
- Eastern Region
- Southern Region
- Northern Region
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).
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
4.1. Key Segments Impacted
4.2. Key Regions Impacted
5. VOICE OF CUSTOMER ANALYSIS
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
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 Market Share Analysis (Agriculture, Construction, Mining and Others)
6.2.2. By Demand Category Market Share Analysis (OEM Vs. Replacement)
6.2.3. By Tire Construction Type Market Share Analysis (Radial Vs Bias)
6.2.4. By Sales Channel Market Share Analysis (Online and Offline)
6.2.5. By Regional Market Share Analysis
6.2.5.1. Central Region Market Share Analysis
6.2.5.2. Western Region Market Share Analysis
6.2.5.3. Eastern Region Market Share Analysis
6.2.5.4. Northern Region Market Share Analysis
6.2.5.5. Southern Region Market Share Analysis
6.2.6. By Company Market Share Analysis (By Value, 2022)
6.3. Saudi Arabia OTR Tire Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Demand Category Mapping & Opportunity Assessment
6.3.3. By Tire Construction Type Mapping & Opportunity Assessment
6.3.4. By Sales Channel Mapping & Opportunity Assessment
6.3.5. By Regional Market Mapping & Opportunity Assessment
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 Market Share Analysis
7.2.2. By Tire Construction Type Market Share Analysis
7.2.3. By Sales Channel Market Share Analysis
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 Market Share Analysis
8.2.2. By Tire Construction Type Market Share Analysis
8.2.3. By Sales Channel Market Share Analysis
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 Market Share Analysis
9.2.2. By Tire Construction Type Market Share Analysis
9.2.3. By Sales Channel Market Share Analysis
10. DEVELOPMENTS IN THE INDUSTRY
10.1. Key Investments in the Market
10.2. Technological Developments
10.3. Key Takeaways
11. MARKET DYNAMICS
11.1. Market Drivers
11.2. Market Challenges
12. MARKET TRENDS & DEVELOPMENTS
13. PORTER’S FIVE FORCES MODEL
13.1. Competition Rivalry
13.2. Bargaining Powers of Suppliers
13.3. Bargaining Powers of Buyers
13.4. Threat of New Entrants
13.5. Threat of Substitutes
14. SWOT ANALYSIS
14.1. Strength
14.2. Weakness
14.3. Opportunities
14.4. Threats
15. POLICY AND REGULATORY LANDSCAPE
16. SAUDI ARABIA ECONOMIC PROFILE
17. COMPETITIVE LANDSCAPE
17.1. Company Profiles
17.1.1. Bridgestone Corporation
17.1.1.1. Company Details
17.1.1.2. Products & Services
17.1.1.3. Recent Development
17.1.1.4. Key Management Personnel
17.1.2. Hankook Tire Co., Ltd.
17.1.2.1. Company Details
17.1.2.2. Products & Services
17.1.2.3. Recent Development
17.1.2.4. Key Management Personnel
17.1.3. Pirelli & C. S.p.A.
17.1.3.1. Company Details
17.1.3.2. Products & Services
17.1.3.3. Recent Development
17.1.3.4. Key Management Personnel
17.1.4. Goodyear Tire & Rubber Company
17.1.4.1. Company Details
17.1.4.2. Products & Services
17.1.4.3. Recent Development
17.1.4.4. Key Management Personnel
17.1.5. Michelin Group
17.1.5.1. Company Details
17.1.5.2. Products & Services
17.1.5.3. Recent Development
17.1.5.4. Key Management Personnel
17.1.6. Continental AG
17.1.6.1. Company Details
17.1.6.2. Products & Services
17.1.6.3. Recent Development
17.1.6.4. Key Management Personnel
17.1.7. MRF Limited
17.1.7.1. Company Details
17.1.7.2. Products & Services
17.1.7.3. Recent Development
17.1.7.4. Key Management Personnel
17.1.8. Apollo Tyres Limited
17.1.8.1. Company Details
17.1.8.2. Products & Services
17.1.8.3. Recent Development
17.1.8.4. Key Management Personnel
17.1.9. Yokohama Rubber Company, Limited
17.1.9.1. Company Details
17.1.9.2. Products & Services
17.1.9.3. Recent Development
17.1.9.4. Key Management Personnel
17.1.10. Zhongce Rubber Group Co., Ltd.
17.1.10.1. Company Details
17.1.10.2. Products & Services
17.1.10.3. Recent Development
17.1.10.4. Key Management Personnel
18. STRATEGIC RECOMMENDATIONS
18.1. Key Focus Areas
18.2. Target Regions
18.3. Target Vehicle Type
19. ABOUT US & DISCLAIMER
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
4.1. Key Segments Impacted
4.2. Key Regions Impacted
5. VOICE OF CUSTOMER ANALYSIS
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
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 Market Share Analysis (Agriculture, Construction, Mining and Others)
6.2.2. By Demand Category Market Share Analysis (OEM Vs. Replacement)
6.2.3. By Tire Construction Type Market Share Analysis (Radial Vs Bias)
6.2.4. By Sales Channel Market Share Analysis (Online and Offline)
6.2.5. By Regional Market Share Analysis
6.2.5.1. Central Region Market Share Analysis
6.2.5.2. Western Region Market Share Analysis
6.2.5.3. Eastern Region Market Share Analysis
6.2.5.4. Northern Region Market Share Analysis
6.2.5.5. Southern Region Market Share Analysis
6.2.6. By Company Market Share Analysis (By Value, 2022)
6.3. Saudi Arabia OTR Tire Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Demand Category Mapping & Opportunity Assessment
6.3.3. By Tire Construction Type Mapping & Opportunity Assessment
6.3.4. By Sales Channel Mapping & Opportunity Assessment
6.3.5. By Regional Market Mapping & Opportunity Assessment
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 Market Share Analysis
7.2.2. By Tire Construction Type Market Share Analysis
7.2.3. By Sales Channel Market Share Analysis
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 Market Share Analysis
8.2.2. By Tire Construction Type Market Share Analysis
8.2.3. By Sales Channel Market Share Analysis
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 Market Share Analysis
9.2.2. By Tire Construction Type Market Share Analysis
9.2.3. By Sales Channel Market Share Analysis
10. DEVELOPMENTS IN THE INDUSTRY
10.1. Key Investments in the Market
10.2. Technological Developments
10.3. Key Takeaways
11. MARKET DYNAMICS
11.1. Market Drivers
11.2. Market Challenges
12. MARKET TRENDS & DEVELOPMENTS
13. PORTER’S FIVE FORCES MODEL
13.1. Competition Rivalry
13.2. Bargaining Powers of Suppliers
13.3. Bargaining Powers of Buyers
13.4. Threat of New Entrants
13.5. Threat of Substitutes
14. SWOT ANALYSIS
14.1. Strength
14.2. Weakness
14.3. Opportunities
14.4. Threats
15. POLICY AND REGULATORY LANDSCAPE
16. SAUDI ARABIA ECONOMIC PROFILE
17. COMPETITIVE LANDSCAPE
17.1. Company Profiles
17.1.1. Bridgestone Corporation
17.1.1.1. Company Details
17.1.1.2. Products & Services
17.1.1.3. Recent Development
17.1.1.4. Key Management Personnel
17.1.2. Hankook Tire Co., Ltd.
17.1.2.1. Company Details
17.1.2.2. Products & Services
17.1.2.3. Recent Development
17.1.2.4. Key Management Personnel
17.1.3. Pirelli & C. S.p.A.
17.1.3.1. Company Details
17.1.3.2. Products & Services
17.1.3.3. Recent Development
17.1.3.4. Key Management Personnel
17.1.4. Goodyear Tire & Rubber Company
17.1.4.1. Company Details
17.1.4.2. Products & Services
17.1.4.3. Recent Development
17.1.4.4. Key Management Personnel
17.1.5. Michelin Group
17.1.5.1. Company Details
17.1.5.2. Products & Services
17.1.5.3. Recent Development
17.1.5.4. Key Management Personnel
17.1.6. Continental AG
17.1.6.1. Company Details
17.1.6.2. Products & Services
17.1.6.3. Recent Development
17.1.6.4. Key Management Personnel
17.1.7. MRF Limited
17.1.7.1. Company Details
17.1.7.2. Products & Services
17.1.7.3. Recent Development
17.1.7.4. Key Management Personnel
17.1.8. Apollo Tyres Limited
17.1.8.1. Company Details
17.1.8.2. Products & Services
17.1.8.3. Recent Development
17.1.8.4. Key Management Personnel
17.1.9. Yokohama Rubber Company, Limited
17.1.9.1. Company Details
17.1.9.2. Products & Services
17.1.9.3. Recent Development
17.1.9.4. Key Management Personnel
17.1.10. Zhongce Rubber Group Co., Ltd.
17.1.10.1. Company Details
17.1.10.2. Products & Services
17.1.10.3. Recent Development
17.1.10.4. Key Management Personnel
18. STRATEGIC RECOMMENDATIONS
18.1. Key Focus Areas
18.2. Target Regions
18.3. Target Vehicle Type
19. ABOUT US & DISCLAIMER
