UAE Tire Market Forecast & Opportunities to 2021 - Increasing Construction Activities & Per Capita GDP is Driving Growth - Research and Markets
DUBLIN, Nov 14, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "UAE Tire Market Forecast & Opportunities, 2021" report to their offering.
The demand for tires in the UAE grew at a CAGR of over 5% through 2021. Increasing construction activities, growing urbanization, booming tourism sector and increasing per capita GDP are driving adoption of new tire technologies in the country.
Further, passenger car tire segment dominated demand for tires in the country and the segment is anticipated to continue dominating the UAE tire market through 2021. Although, Chinese branded tires are extremely popular in the country due to their cheaper prices, few of the major flagship tire brands operating in the country include Michelin, Pirelli, Goodyear and Bridgestone.
Despite being impacted by falling oil prices and uncertainties prevailing across neighbouring countries, automobile market in the UAE grew during 2011-2015. As per OICA, motorization rate (for passenger cars and commercial vehicles) in the UAE stood at 216 vehicles per 1,000 people as of 2014. This is projected to drive demand for tires in the country in the coming years as well. Increasing sales of vehicles and expanding vehicle fleet size is projected to pump growth in replacement demand for tires in the country during 2016-2021.
Rising purchasing power of citizens and increasing infrastructure development projects is fueling tire sales in the country. On account of hot climatic conditions in the country, replacement period of tires is shorter. Further, due to absence of tire manufacturing in the country, demand for tires in the UAE is addressed through mainly imports.
Companies Mentioned:
- Bridgestone Middle East & Africa FZE
- Continental AG
- Goodyear Middle East FZE
- Hankook Tire Co., Ltd.
- Kumho Tire Co. Inc
- Michelin AIM FZE
- Pirelli Tyre S.p.A
- Sumitomo Rubber Middle East FZE
- Toyo Tire & Rubber Co., Ltd
- Yokohama Rubber Co., Ltd.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. UAE Tire Market Outlook
5. UAE Passenger Car Tire Market Outlook
6. UAE Medium & Heavy Commercial Vehicle Tire Market Outlook
7. UAE Light Commercial Vehicle Tire Market Outlook
8. UAE Off-The-Road (OTR) Tire Market Outlook
9. UAE Two-Wheeler Tire Market Outlook
10. Import-Export Analysis
11. Market Dynamics
12. Market Trends & Developments
13. Policy & Regulatory Landscape
14. UAE Economic Profile
15. Competitive Landscape
16. Strategic Recommendation
For more information about this report visit http://www.researchandmarkets.com/research/rtk5gw/uae_tire_market
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