The automotive tire aftermarket market in the MEA is expected to grow from US$ 9,354.72 million in 2021 to US$ 12,568.39 million by 2028; it is estimated to grow at a CAGR of 4.3% from 2021 to 2028.
Governments of various countries are enforcing several stringent regulations for vehicles and vehicle manufacturers. As a result, tire manufacturers have adopted environment-friendly raw materials without compromising on lighter tires, which significantly reduces vehicle weight, thus, providing higher fuel efficiency and less consumption. Major players in the automotive tire aftermarket are constantly working on various technologies. For instance, in 2019, Sumitomo Rubber Industries, Ltd. and Kansai University developed a new technology to generate electric power from a tire's rotation. The tire uses the build-up of static electricity, also known as frictional charging, to produce power from tire rotation. In 2020, Goodyear developed a self-generating design to extend the life of tires, making them more adaptable to several conditions. The Goodyear recharge tire concept utilizes a tread that can be replenished using fluid-filled capsules. The tread compound is made of biological material and reinforced with fibers based on spider silk. Therefore, the growing demand for green tires will propel the growth of the automotive tire aftermarket.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA automotive tire aftermarket market, which is expected to grow at a decent CAGR during the forecast period.
MEA Automotive Tire AftermarketMarket Revenue and Forecast to 2028 (US$ Million)
MEA Automotive Tire Aftermarket Market Segmentation
The MEA automotive tire aftermarket market is segmented into tire type, distribution channel, rim size, and country. The MEA automotive tire aftermarket market, based on tire type, is bifurcated into radial and bias. The radial segment held a larger market share in 2020. In terms of distribution channel, the MEA automotive tire aftermarket market is bifurcated into OES and IAM. The IAM segment held a larger market share in 2020. Based on rim size, the MEA automotive tire aftermarket market is segmented into 13–15, 16–18, 19–21, and more than 21. The 13–15 segment held the largest market share in 2020. Based on country, the MEA automotive tire aftermarket market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of MEA.
Apollo Tires Ltd; Bridgestone Corporation; Continental AG; Michelin; NEXEN TIRE AMERICA INC; PIRELLI and C. S.P.A.; Sumitomo Rubber Industries, Ltd.; The Goodyear Tire and Rubber Company; Yokohama Rubber Co., Ltd; and ZHONGCE RUBBER GROUP CO. LTD. are among the leading companies in the MEA automotive tire aftermarket market.
Middle East & Africa Automotive Tire Aftermarket Market Strategic Insights
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Middle East & Africa Automotive Tire Aftermarket Market Segmentation Analysis
Middle East & Africa Automotive Tire Aftermarket Market Report Highlights
Middle East & Africa Automotive Tire Aftermarket Report Scope
Report Attribute
Details
Market size in 2021
US$ 9,354.72 Million
Market Size by 2028
US$ 12,568.39 Million
CAGR (2021 - 2028)
4.3%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Tire Type
Radial Tire
Bias Tire
By Distribution Channel
OES
IAM
By Rim Size
13-15
16-18
19-21
More than 21
Regions and Countries Covered
Middle East and Africa
South Africa
Saudi Arabia
UAE
Rest of Middle East and Africa
Market leaders and key company profiles
Apollo Tires Ltd
Bridgestone Corporation
Continental AG
Michelin
NEXEN TIRE AMERICA INC
PIRELLI and C. S.P.A.
Sumitomo Rubber Industries, Ltd.
The Goodyear Tire and Rubber Company
Yokohama Rubber Co., Ltd
ZHONGCE RUBBER GROUP CO. LTD.
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Middle East & Africa Automotive Tire Aftermarket Market Country and Regional Insights
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Identical Market Reports with other Region/Countries
The List of Companies - Middle East & Africa Automotive Tire Aftermarket Market
Apollo Tires Ltd
Bridgestone Corporation
Continental AG
Michelin
NEXEN TIRE AMERICA INC
PIRELLI and C. S.P.A.
Sumitomo Rubber Industries, Ltd.
The Goodyear Tire and Rubber Company
Yokohama Rubber Co., Ltd
ZHONGCE RUBBER GROUP CO. LTD.
Frequently Asked Questions
How big is the Middle East & Africa Automotive Tire Aftermarket Market?
The Middle East & Africa Automotive Tire Aftermarket Market is valued at US$ 9,354.72 Million in 2021, it is projected to reach US$ 12,568.39 Million by 2028.
What is the CAGR for Middle East & Africa Automotive Tire Aftermarket Market by (2021 - 2028)?
As per our report Middle East & Africa Automotive Tire Aftermarket Market, the market size is valued at US$ 9,354.72 Million in 2021, projecting it to reach US$ 12,568.39 Million by 2028. This translates to a CAGR of approximately 4.3% during the forecast period.
What segments are covered in this report?
The Middle East & Africa Automotive Tire Aftermarket Market report typically cover these key segments-
Tire Type (Radial Tire, Bias Tire)
Distribution Channel (OES, IAM)
Rim Size (13-15, 16-18, 19-21, More than 21)
What is the historic period, base year, and forecast period taken for Middle East & Africa Automotive Tire Aftermarket Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Automotive Tire Aftermarket Market report:
Historic Period : 2019-2020
Base Year : 2021
Forecast Period : 2022-2028
Who are the major players in Middle East & Africa Automotive Tire Aftermarket Market?
The Middle East & Africa Automotive Tire Aftermarket Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
Apollo Tires Ltd
Bridgestone Corporation
Continental AG
Michelin
NEXEN TIRE AMERICA INC
PIRELLI and C. S.P.A.
Sumitomo Rubber Industries, Ltd.
The Goodyear Tire and Rubber Company
Yokohama Rubber Co., Ltd
ZHONGCE RUBBER GROUP CO. LTD.
Who should buy this report?
The Middle East & Africa Automotive Tire Aftermarket Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Middle East & Africa Automotive Tire Aftermarket Market value chain can benefit from the information contained in a comprehensive market report.
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