GCC: Passenger Car Tyre Market 2024

Passenger Car Tyre Market Size in GCC

The GCC passenger car tyre market rose remarkably to $X in 2022, surging by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the market value increased by X%. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the near future.

Passenger Car Tyre Production in GCC

In value terms, passenger car tyre production soared to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2017 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Passenger Car Tyre Exports

Exports in GCC

After two years of decline, overseas shipments of tyres for motor cars increased by X% to X units in 2022. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, passenger car tyre exports surged to $X in 2022. Over the period under review, exports showed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from the United Arab Emirates (X units), together accounting for X% of total export.

The United Arab Emirates was also the fastest-growing in terms of the tyres for motor cars exports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest passenger car tyre supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the export price recorded a pronounced setback. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Passenger Car Tyre Imports

Imports in GCC

In 2022, imports of tyres for motor cars in GCC shrank to X units, with a decrease of X% compared with the previous year. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, passenger car tyre imports stood at $X in 2022. Overall, imports saw a slight curtailment. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importer of tyres for motor cars in GCC, with the volume of imports resulting at X units, which was near X% of total imports in 2022. Kuwait (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%), Qatar (X%) and Bahrain (X%).

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of tyres for motor cars. At the same time, Qatar (X%), Bahrain (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Oman experienced a relatively flat trend pattern. From 2012 to 2022, the share of Kuwait and Qatar increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported tyres for motor cars in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In the United Arab Emirates, passenger car tyre imports contracted by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price, however, continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per unit) and Kuwait ($X per unit), while the United Arab Emirates ($X per unit) and Bahrain ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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