The Middle East & Africa Light Commercial Vehicle Tire Market is projected to grow by around 9.6% CAGR during the forecast period, i.e., 2021-26, cites a recent research study conducted by MarkNtel Advisors. The key highlights of the research report include the industry growth drivers, restraints, opportunities, trends, & extensive insights into the market dynamics amidst the Covid-19 crisis. Besides, a thorough analysis of the Middle East & Africa Light Commercial Vehicle Tire Market across various segments, countries, and leading competitors has also been added to the study.
The study provides a predictable market size for 2021 based on demand and price analysis. The report forecasts the Middle East & Africa Light Commercial Vehicle Tire market size to 2026 in both the short and long term. The COVID-19 pandemic has had an unfavorable influence on various markets, where small and medium-sized firms are struggling to stay afloat in the short term.
Various factors driving the market growth in the forecast years and increasing sales of light commercial vehicles in the Middle East & Africa include the surging construction activities, rapid urbanization, and massive developments in transport infrastructure, thereby propelling the market growth of tires. Furthermore, the introduction of next-generation tire technology providing excellent fuel efficiency & inflation pressure is another aspect that shall boost the market toward greater heights in the coming years.
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Key points covered in the report:
- Middle East & Africa Light Commercial Vehicle Tire Market dynamics, market size, trend analysis, leading market players, opportunities, recent developments.
-Economy synopsis and forecast analysis for 2021-2026.
-The research on Middle East & Africa Light Commercial Vehicle Tire Industry includes a detailed analysis of the key market participants.
-Market strategies that are increasingly being used by prominent Middle East & Africa Light Commercial Vehicle Tire Companies.
-Assessment of market factors including market growth drivers, significant challengers, inhibitors, and opportunities.
-Strategic profiling of key market players and thorough evaluation of their growth tactics.
-PESTEL Analysis, Porter’s Five Forces Model, Competitors Analysis, Value Chain Analysis, Recommendations and Price Analysis.
The study is beneficial for industry stakeholders in justifying numerous key questions, such as which market segments should be targeted, marketing strategies to be applied, revenue generation techniques, in order to strategize investments and take advantage of market growth.
“We are constantly monitoring the changing dynamics of the Covid-19 outbreak & provide detailed impact analysis on the market”.
Key Companies & Market Share Insights:
Owing to the vast number of major and small-scale manufacturers, the market is extremely concentrated and competitive. Major corporations pursue numerous marketing tactics, such as geographic expansion, in order to boost sales and capitalize on new businesses and markets for new and existing products/services. Major industry players are: Bridgestone Tire Distribution Co. W.L.L, Continental AG, Michelin, Goodyear Middle East FZE, Hangzhou Zhongce Rubber Co. Ltd. (ZC Rubber), Hankook Tire Co. Ltd. – Michelin UAE, Pirelli Tyre (Suisse) SA (Middle East Branch), Sumitomo Rubber Middle East FZE, Toyo Tire & Rubber Co., LTD., Yokohama Rubber Co. Ltd., Others.
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Market Segmentation includes:
The Middle East & Africa Light Commercial Vehicle Tire Market is categorized. This section brings the segmentation statistics and provides insights regarding growing and dominating segments. The data has been represented using charts and graphs to make it reader friendly.
1.Market Segment, By Type of Vehicle (Light Trucks, Light Buses, Pick-Up Trucks & Vans)
2.Market Segment, By Demand Type (OEM, Replacement)
3.Market Segment, By Type of Tire (Radial, Bias)
4.Market Segment, By Tube Type (Tubes, Tubeless)
5.Market Segment, By Price Category (Budget (Up to USD 120), Economy (USD 120- USD 200), Premium (Above USD 200))
6.Market Segment, By Rim Size (Up to 15”, 15.1” to 16”, Above 16”)
7.Market Segment, By End User (Agricultural Transportation, Dairy and Meat Transportation, E-commerce, Others (Public Transportation, FMCG Transportation))
8.Market Segment, By Country (UAE, Saudi Arabia, Oman, Kuwait, Nigeria, South Africa, Others)
The study outlines all of the issues that are being faced by Middle East & Africa Light Commercial Vehicle Tire Market. This enables the reader to gain a better understanding of the market and grab the lucrative opportunities. The analysts conducted a thorough examination of the current market scenario while concentrating on new business objectives. A comprehensive evaluation of evolving stakeholders’ needs and the entire environment study is included.
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