Logo
Bonafide Research discusses themes around 11% forecasted growth rate of Middle East and Africa Tyre Market.
Jul, 23
2021

123 view

Bonafide Research discusses themes around 11% forecasted growth rate of Middle East and Africa Tyre Market.

 

210659986-Middle-East-Africa-Tyre-Market-Outlook-2026

The Middle East and Africa Market are one of the fastest-growing tyre markets in the world. As major economies in the Middle East and Africa are looking to diversify away from their heavily dependent oil sector, automotive and allied industries are getting more focus than before in the region. With robust growth and focus on infrastructural development, the demand for commercial vehicles for construction and logistics, mining, and construction purposes is expected to boost the demand for tyres. Bonafide Research in its latest research report titled- Middle East and Africa Tyre Market Outlook, 2026 discusses themes, trends, and dynamics in the emerging Middle Eastern and African tyre market. The research has been done by appropriately segmenting the research on the basis of vehicle type, design, and end-use. The market has been further divided into national markets to present comparable evaluations.

Promotions by the respective Governments in the Middle East in form of trade expo and exhibitions reflect the opening up of the regional economies for innovations in new industries and trade. However, a rapid shift in production is yet to materialize into something concrete, the OEM demand for its ancillary industries such as tyres is yet to find strong growth prospects. In 2015, about 80 Million units of tyres were sold in the Middle East and Africa region. The Middle East and Africa region is an emerging hub for automotive production and manufacturing of equipment.

However, major economies in the region are characterized by having a high spending capacity and therefore and therefore radial tyres find a suitable market in the Middle East and Africa. In rich economies of the Middle East and Africa, there is a major share commanded by SUVs and bigger family cars which majorly use radial tyres. Radial tyres being more expensive than bias-ply tyres continue to find a growing demand as more passenger vehicles are adapting radial tyres to provide a more comfortable riding experience to their customers and passengers. In poorer economies of the region, the 2-wheeler tyres find a growing demand as 2-wheeler vehicles like motorcycles and mopeds command a high market size.

Even though the e-commerce markets in the Middle East and Africa are growing at one of the fastest rates in the world, the tyre market is yet to capitalize on the development of online sales channels. Due to the nature of the product, offline retail of tyres is more prevalent in the region. Tyres are usually replaced at a mechanic store or service center which is why tyres are not directly sold by the customers to the end-user. The sales of tyres usually pass through the mechanic or service center. This is one of the major reasons why tyres, even though getting increasingly available in online e-commerce stores, don’t find much traction from the customer side. Major tyre companies such as Michelin, Hankook Bridgestone, and Goodyear, etc. are providing dealer locator facilities in their websites which further facilitates offline sales. As e-commerce is still at a very nascent stage, online stores for tyres may take some time to penetrate the market.