Kingdom of Saudi Arabia (KSA) Market Study on Tire: Four Vehicle Tire Segment to Hold Majority Share of Market by 2016 End R e s e a r c h About Us Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes. M a r k e t Our offerings include pre-built reports that address every major sale, customized solutions to cater to client-specific needs, and consulting services to offer more value addition. 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Kingdom of Saudi Arabia (KSA) Tire Market 2016-2026 R e s e a r c h Report Media Releases KSA Tire Market Value set to reach US$ 2,123 Mn in 2016; Robust Sales of Four-Wheeler Vehicles will continue to Fuel Demand Summary: The KSA tire market is expected to witness robust growth. Demand for tires in KSA will be positively influenced by growing sales of four-wheeler vehicles. Driven by favorable government policies and lack of luxury or value-added taxations (VATs), the KSA tire market is anticipated to reach US$ 2,123 Mn in revenues by 2016. Growing demand for P e r s i s t e n c e M a r k e t four-wheeler vehicles and robust sales of luxury and top-end cars will continue to influence the growth of the KSA tire market. Sales will continue to remain strong through the OEM channel, owing to consumer preference for buying tires directly from manufacturers. While overall revenues are expected to increase steadily, stringent regulation regarding used tires coupled with Implementation of stringent import standards by Saudi Arabia Standard Organization (SASO) can pose challenges to the growth of the market. Download Sample of this report @ http://www.persistencemarketresearch.com/samples/11437 By vehicle-type, the four-wheeler segment will continue to account for a leading share of the market. Demand will be substantial for cars and other passenger four-wheelers, owing to high temperatures recorded in Saudi Arabia throughout the year. As a result, the passenger cars will continue to be the most-prominent four-wheeler sub-segment, accounting to more than US$ 1,435 Mn revenues in 2016. Rising R&D initiatives by manufacturers will fuel the product-wise growth of the KSA tire market, which is expected to supplement the sales of pneumatic and non-pneumatic tires. Increasing penetration of internet and online transactions in Saudi Arabia is will continue to influence the growth of the market. Compared to the rest of the provinces, the Western and Central Provinces of the Kingdom are forecasted to represent a speedy growth in the demand for four wheeler vehicle tires. In the future, the provincial cities of Riyadh and Mecca are expected to be the concentrated hubs of Saudi Arabia’s total tire retail outlets. Kingdom of Saudi Arabia (KSA) Tire Market 2016-2026 R e s e a r c h Prominent global tire companies such as The Bridgestone Group, Continental AG, Pirelli & C Spa, and Michelin Group, will continue to strengthen their dominance in the KSA tire market. Companies such as Apollo Tyres Ltd., Yokohama Rubber Company Ltd., and Goodyear Tire & Rubber Company are also expected to create stiff competition for the existing key players in the tire market in KSA. For more info (desk of content material), Figures and Tables of the report @ http://www.persistencemarketresearch.com/market-research/ksa-tire-market/toc PMR Long-term Outlook: The tire market in the KSA is expected to expand at a CAGR of 10.8% during the forecast period 2016-2026. Four-wheeler vehicle segments will continue to account M a r k e t for a sizeable demand for tires during the forecast period. Browse through the full Kingdom of Saudi Arabia (KSA) Tire Market Report at http://www.persistencemarketresearch.com/market-research/ksa-tire-market.asp P e r s i s t e n c e For information regarding permissions, contact: Persistence Market Research 90 Sate Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 Email: [email protected] Website: http://www.persistencemarketresearch.com/ [email protected] Kingdom of Saudi Arabia (KSA) Tire Market 2016-2026
Growing demand for four-wheeler vehicles and robust sales of luxury and top-end cars will continue to influence the growth of the KSA tire market.
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