Egypt Tire Market to Reach $ 1.8 Billion by 2030

Continuously growing automobile sales and increasing fleet of vehicles in the region to drive Egypt tire market through 2030

Egypt Tire Market

Industry Reports –> Automobile Tires

According to TechSci Research report, Egypt Tire Market By Vehicle Type, By Demand Category, By Radial Vs Bias, Competition, Forecast & Opportunities, 2030”, Egypt tyre is projected to reach $ 1.8 billion, by the end of 2030. The growth in the market is led by rising tire sales across Egypt as well as growing population and vehicle fleet. In addition to that, the expanding ventures by leading OEM Manufacturers, growing inclination of consumers towards tyre market and the growing sales of passenger cars, two-wheelers and commercial vehicles, is further anticipated to compliment the overall tire market in Egypt over the next five years.

Browse 7 market data Tables and 42 Figures spread through 85 Pages and an in-depth TOC on “Egypt Tire Market “

With an expanding volume share of around 47% in 2018, passenger car tire segment dominated Egypt tyre market, followed by the commercial vehicle tire segment. Dominance of this segment can be attributed to improving economic scenario, growing per capita income, increase in production and sales of passenger cars coupled with rising demand for tyres from the replacement segment and imposing ban on used vehicle import.

Rising presence of various companies such as Bridgestone, Michelin, Continental AG, Maxxis, Falken, Trenco, Pirelli, Goodyear, etc., and their continued operations in the tyre industry of the country is further anticipated to intensify the Egypt tire market during the next ten years.

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“With the aid of foreign direct investment policy in Egypt and technological advancements like pressure monitoring system, fuel efficiency tires along with growing vehicle fleet, the demand for tyres is expected to grow in Egypt. Moreover, automotive industry witnessed a healthy sales growth in the last few years and the same trend is expected to continue in the coming years as well,  which would further steer growth in the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Egypt Tire Market By Vehicle Type, By Demand Category, By Radial Vs Bias, Competition, Forecast & Opportunities, 2030” has analyzed the potential of tyre market across Egypt, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by Egypt tire market.

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