MarkNtel Advisors recently published a detailed industry analysis of the Middle East and Africa Truck & Bus Tire Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Middle East and Africa Truck & Bus Tire Market (2024-2030)
The Middle East and Africa Truck & Bus Tire Market size is estimated to grow at a CAGR of around 6.6% during the forecast period, i.e., 2024–30.
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What is driving the Middle East and Africa Truck & Bus Tire Market?
Expansion of the Logistics & Transportation Industry Driving Market Growth – The MEA region’s growing e-commerce, retail, and manufacturing sectors are driving the rise of the logistics and transportation industries. Commercial vehicles are necessary for moving goods and supplies over long distances, creating a greater demand for truck tires to equip these vehicles. Furthermore, the MEA region’s manufacturing sector is developing, with investments in industries including automotive, electronics, textiles, and food processing. For Instance,
- In 2023, Baoshan Iron & Steel Co. invested about USD 4 billion in expanding its manufacturing capacity to enhance Saudi Arabia’s steel industry ecosystem & improve supply chain localization.
As industrial activities grow, so does the demand for transportation of raw materials, components, and completed products between manufacturing sites, warehouses, and distribution locations. This increases the demand for commercial vehicles and truck tires to support supply chain operations, which is expected to significantly boost market growth in the coming years.
What segments define the Middle East and Africa Truck & Bus Tire Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Type of Vehicle
(Truck, [Light Trucks, Medium & Heavy Trucks], Bus, [Light Buses, Medium & Heavy Buses]),
By Application
(Public Transport, General Cargo Transport, Building & Construction, Agriculture Transportation, Others (Chemical Transportation, Mining Transportation, etc.)),
By Demand Type
(OEM, Aftermarket),
By Price Category
(Budget, Premium, Economy),
By Tire Type
(Radial, Bias),
By Tire Size
(Tire Size 1, Tire Size 2, Tire Size 3, Tire Size 4, Tire Size 5),
By Sales Channel
(Direct Sales, Multi Brand Stores & Exclusive Outlets, Online)
By Country
The UAE, Saudi Arabia, Oman, Qatar, Kuwait, Bahrain, Morocco , Egypt, Israel, South Africa, Nigeria, Rest of the Middle East & Africa
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Who are the leading key players shaping the Middle East and Africa Truck & Bus Tire Market landscape?
Michelin Middle East, Goodyear Tire and Rubber Industries, Bridgestone Middle East and Africa FZE, Sumitomo Rubber Industries, Kumho Tire Co., Inc., Apollo Tyres Ltd., The Yokohama Rubber Co., Ltd., JK Tires and Industries Ltd., Hankook Middle East and Africa, Continental AG, Maxxis Tyre, Hangchou Zhongce Rubber Co. Ltd. (ZC Rubber), and others
Questions Addressed in this Study
1.What factors are driving the Middle East and Africa Truck & Bus Tire Market growth?
2.How is the Middle East and Africa Truck & Bus Tire Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Middle East and Africa Truck & Bus Tire Market?
4.What is the current size of the Middle East and Africa Truck & Bus Tire Market, and how is it projected to change in the future?
6.What is the future outlook for the Middle East and Africa Truck & Bus Tire Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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