Shibuya-ku, Tokyo, Japan, Japan, Oct 19, 2021, 05:36 /Comserve / -- According to the MarkNtel Advisors' research report, "Middle East Two-Wheeler Tire Market Analysis, 2021," the market is likely to grow at a CAGR of around 3.10% during 2021-26.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
According to the MarkNtel Advisors' research report, "Middle East Two-Wheeler Tire Market Analysis, 2021," the market is likely to grow at a CAGR of around 3.10% during 2021-26. The market growth attributes to burgeoning food & beverage outlets across the Middle East and the emerging electric motorcycles due to growing government concerns toward climate changes and CO2 emissions.
Moreover, the surging inclination of companies to expand their businesses in the Middle East is further leading toward establishing new showrooms, thereby seeming to accelerate the demand for two-wheeler tires in the forecast period. Furthermore, the snowballing millennial inclination toward superbikes, the evolution of the e-commerce sector due to rapid internet penetration, and robustly growing two-wheeler fleet size are other factors to strongly contribute to the growth of the Middle East two-wheeler market in the forthcoming period.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Middle East Two-Wheeler Tire Market Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand Forecast (2021-2026)
Impact of COVID-19
The COVID-19 outbreak had a considerable impact on the Middle East region. The lockdowns imposition, closed borders, slump in oil prices, and supply chain disruptions have negatively influenced the demand-supply dynamics in various industries, including the automotive sector. As most Middle East countries are import-driven; hence, a halt in the production of tires in export countries has a negative outlook on the replacement market. However, the uplift of lockdown and resumption in activities shall bolster the market growth of two-wheeler tires in the coming years.
Scooter & Moped Grabbed roughly 30% share in the Regional Two-Wheeler Tire Market
Based on the Type of Vehicle, the Scooter & Moped grabbed a 30% market share in the Middle East Two-Wheeler Tire market in 2021. The increasing number of electric vehicles and soaring demand for scooters from working women is likely to boost the sales of scooters & mopeds in the forthcoming years. Further, the boost in the sales & demand for high-end luxury motorcycles and sports bikes in UAE, Saudi Arabia, and Qatar has positively contributed to the Middle East Two-Wheeler Tires market growth.
Besides, the mushrooming number of motorcycle registrations in UAE, Turkey, and Iran and the launch of premium bikes by automotive OEMs promises lucrative growth opportunities for the segment during 2021-26, says MarkNtel Advisors in their research report, "Middle East Two-Wheeler Tire Market Analysis, 2021."
Fill This Form and get the Sample Copy of This Report: https://www.sdki.jp/sample-request-115379
The Final Report will cover the impact analysis of COVID-19 on this industry: Middle East Two-Wheeler Tire Market Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand Forecast (2021-2026)
Bias Tires Dominate the Market
Based on Tire Type, Bias Tires dominate the Middle East Two-Wheeler tire market in 2021 due to the burgeoning offerings of Bias tires for two-wheelers by prominent companies of the region. Moreover, nowadays, two-wheeler manufacturers are equipping Bias tires in all their new two-wheelers, thereby strongly contributing to the overall growth of Bias tires in the Middle East.
Iran Accounted for the Largest Market Share
Iran accounted for more than 60% share in the Middle East Two-Wheeler tire market, followed by Egypt and Turkey. In the Middle East, Iran is the only prime hub for two-wheeler tire manufacturing as the rest of the countries are import-driven. The factors augmenting the market growth in Iran are the launch of new scooters & premium bikes by automotive OEMs and surging joint ventures among companies for locally developing electric motorcycles & scooters to encourage environment-friendly technologies and curb carbon emissions.
Rising Two-Wheeler Registration in the region
The rising two-wheeler registration, snowballing demand for motorcycles from both the low & high-end consumers, and increasing sales of high-end luxury motorcycles are factors primarily driving the market growth. Moreover, the burgeoning inclination of millennials toward superbikes and the launch of scooters & premium bikes by automotive OEMs further propel the two-wheeler tire market growth in the Middle East. Additionally, the surging environmental concerns have also promulgated the demand for electric scooters in the region. The massive investments by companies in electric motorcycle assembly plants and escalating automotive OEMs to expand their operation of electric bikes in Saudi Arabia and Egypt are likely to place a considerable impact on the market growth in the forecast period.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the Middle East Two-Wheeler Tire market are Michelin, Continental, Goodyear Tire & Rubber Company, Maxxis International- Middle East & Africa, Pirelli & C. SpA., Sumitomo Rubber Industries Ltd., Bridgestone, Avon Tyres, Mitas, Anlas Anadolu Lastik AS, etc.
Key Questions Answered in the Market Research Report:
• What are the overall market statistics or estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Middle East Two-Wheeler Tire Market?
• What is the country-wise industry size, growth drivers, and challenges?
• What are the key innovations, opportunities, current & future trends, and regulations in the Middle East Two-Wheeler Tire Market?
• Who are the key competitors, their key strengths & weaknesses, and how do they perform in Middle East Two-Wheeler Tire Market based on a competitive benchmarking matrix?
• What are the key results derived from the market surveys conducted during the Middle East Two-Wheeler Tire Market study?
TABLE OF CONTENT
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Assumptions
1.4. Market Segmentation
2. Executive Summary
3. Impact of COVID-19 on Middle East Two-Wheeler Tire Market
4. Middle East Two-Wheeler Tire Market Customer Analysis, 2020-25
4.1. Expectations from Tire Manufacturers in terms of Quality, Pricing, Running Kms. Etc.
4.2. Key Factors Impacting the Purchase Decision
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