According to MRFR, the tyre market has grown dramatically in recent years. It is estimated to reach USD 5,300.9 million by 2032, growing at a 6.5% CAGR over the forecast period (2024-2032).
Tyres are one of the most important safety and performance components for vehicles. The overall ride would be better if it was smoother and more controlled. The UAE's utilisation of new technology and changes in laws make it a major driver of the tyre business. The usage of smart tires and electric vehicle-specific tyres improves performance and safety qualities. Passenger car tyres are offered in the market within two years of manufacture and are typically replaced every five years to ensure an acceptable degree of safety and quality.
The COVID-19 epidemic had a significant impact on the UAE tyre market; demand for tyres temporarily fell due to lower vehicle usage and supply chain disruptions. With the restrictions loosened, market conditions improved, and car sales grew, as did demand for new tyres. The pandemic soon pushed Tyres enterprises to online platforms and introduced contactless services. Leaders in the UAE tyre manufacturing market have invested in R&D, inventing, and meeting new market demands; Michelin, Bridgestone, and Continental are just a few examples. Such businesses are looking into environmental initiatives, such as lowering carbon footprints and enhancing tyre recyclability. Strategic partnerships and mergers are very common, and they allow organisations to broaden their market reach and capabilities.
Market Segment Insights
The tyres market has been divided into seasons, types, rim sizes, applications, vehicle types, vehicle propulsion, and sales channels.
The market is divided into two segments based on season: summer and all-season. The market is divided into two categories based on type: radial and bias.
The market is divided into three segments based on rim size: less than 15 inches, 15 to 20 inches, and more than 20 inches.
The market is divided into two segments based on application: on-road and off-road.
The market is divided into four segments based on vehicle type: passenger vehicles, commercial vehicles, two- or three-wheelers, and off-highway vehicles.
The market is divided into two segments based on the type of vehicle propulsion: ICE and electric.
The market is divided into two segments based on sales channel: online and offline/retail.
Major Players
Bridgestone Corporation, Michelin, Continental AG, Pirelli & C. S.P.A., Goodyear Tire & Rubber Company, Yokohama Tires, Nexen Tire, Kumho Tire Co., Inc., Hankook Tire Co Limited, Nankang Rubber Tire Corp., Ltd., Toyo Tires, CEAT, Apollo Tyres Limited, MRF, JK Tyre, and others are among the leading market players.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook