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Uae Tyre Market Forecast and Opportunities, 2020

  • Date Submitted: 05/30/2016 02:29 AM
  • Flesch-Kincaid Score: 36.5 
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30 May, 2016, Navi Mumbai, India: Marketreportsonsaudiarabia.com presents a new report on “UAE Tyre Market Forecast and Opportunities, 2020” These factors have had a positive impact on the country’s tyre industry during 2010 – 2014.

http://www.marketreportsonsaudiarabia.com/industry-mfg-market-research-reports-3208/uae-tyre1.html

With a population of around 10 million in 2014, the UAE is among the major economic focal points in Gulf Cooperation Council (GCC) region. Due to significant industrial growth, the country’s automotive industry has been flourishing at a swift pace over the last decade. The country’s economy is highly dependent on the oil sector, and consequently, the government of the UAE has been increasing its focus on non-oil sectors over the last five years. As a result, the country has been witnessing significant developments in real estate, logistics and infrastructure sectors, which have led to substantial growth in mining and construction industries, thereby boosting demand for construction vehicles, mining equipment and OTR vehicles in the country. These factors have had a positive impact on the country’s tyre industry during 2010 – 2014.

According to “UAE Tyre Market Forecast & Opportunities, 2020", passenger car & commercial vehicle sales in the UAE grew at a CAGR of more than 10% during 2010 - 2014, which is expected to result in strong growth in demand for passenger car & commercial vehicle replacement tyres over the next few years. Major cities in the UAE such as Dubai, Abu Dhabi and Sharjah are among the leading demand generators for tyres, and are anticipated to continue as the major contributors to the growth of the country’s tyre market over the forecast period as well. Major tyre players operating in the UAE include Bridgestone, Michelin, Dunlop, Goodyear and Yokohama. “UAE Tyre Market Forecast & Opportunities, 2020” elaborates on the following aspects of tyre market in the UAE:

• UAE Tyre Market Size, Share & Forecast

•...

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