Saudi Arabia Tire Market to Reach Lucrative Growth with a Steady CAGR of 8% b 2030, Driven by Rapidly Growing Vehicle Fleet

According to the latest report published by Markntel Advisors, the Saudi Arabia Tire Market is projected to grow at a CAGR of around 8% during the forecast period, i.e., 2025-30. This flourishing growth is significantly driven by the rising per capita income of people and their mounting inclination towards private ownership of vehicles across the nation.

Introduction: Rising Expansion of Tire Industry in Saudi Arabia

As private ownership of vehicles is becoming more of a necessity than a luxury today, vehicle sales are rapidly rising and, in turn, augmenting the production of robust tires. However, people across Saudi Arabia see cars as a status symbol. As a result, the vehicle fleet is likely to rise at a notable pace in the country and portray remunerative prospects for the tire industry over the coming years. The increasing construction projects further raise the demand for construction equipment and their robust tires is surging the demand for tiers across the nations.

Saudi Arabia Tire Market Segmentation Analysis 2025

The industry is further bifurcated into:

Based on Type of Vehicle:

·        Passenger Car,

·        Light Commercial Vehicle,

·        Medium and Heavy Commercial Vehicles,

·        Off the Road (OTR),

·        Two Wheelers

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Based on Demand Category:

·        OEM,

·        Aftermarket

Based on Type of Tire:

·        Radial,

·        Bias

Based on Sales Channel:

·        Direct Sales,

·        Exclusive Outlets & Multi-brand Stores,

·        Online

Based on Price Category:

·        Budget,

·        Economy,

·        Premium

Based on Tire Size:

·        Tire Size 1,

·        Tire Size 2,

·        Tire Size 3,

·        Tire Size 4,

·        Tire Size 5

Saudi Arabia Tire Market Growth Drivers

Key factors driving the growth of Saudi Arabia’s tire market include:

·        Automotive Sector Expansion: The growing number of passenger cars and commercial vehicles is driving tire demand across the country.

·        Economic Prosperity: Rising disposable incomes and urbanization are boosting vehicle ownership and, consequently, tire sales.

·        Government Initiatives: Programs like Vision 2030 and investments in infrastructure projects such as NEOM are increasing demand for commercial vehicle tires.

·        Technological Advancements: Innovations in tire durability, fuel efficiency, and performance are attracting consumers seeking high-quality products.

·        Public Transportation Growth: Expansion of bus and rail networks requires a significant number of tires to support operations.

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Saudi Arabia Tire Market Competitive Landscape

Key players shaping Saudi Arabia tire market include:

·        Hankook,

·        Bridgestone,

·        Goodyear,

·        Michelin,

·        Continental,

·        Nexen,

·        Toyo,

·        Kumho,

·        Apollo, Others

Market Challenges & Opportunities

Challenges:

·        High Import Duties: Increased tariffs on imported tires could impact pricing and availability.

·        Economic Volatility: Fluctuations in oil prices may affect consumer spending on non-essential items like premium tires.

Opportunities:

·        Sustainability Trends: Growing demand for eco-friendly tires presents opportunities for innovation.

·        E-Commerce Growth: Online platforms provide convenient access to a wide range of tire products.

·        Infrastructure Projects: Large-scale construction activities under Vision 2030 drive demand for commercial vehicle tires.

Conclusion

With the growing trends the industry is projected to grow and expand during the forecasting years i.e., 2025-30 as the above-stated factors are changing the market landscape and opening doors to the market players. Market players can enhance their market size & revenue by meeting the changing market dynamics and evolving consumer expectations. Additionally, market players with the help of SWOT analysis can adjust their existing settings regarding the evolving market trends, which would ultimately augment the size & volume of the entire industry at the national level.

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We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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