Growing construction activities, expanding vehicle fleet and growing automobile sales are the prominent factors expected to drive the tire market in Oman during forecast period. The government's five years plan for 2011-2015 attracted investments worth USD70 billion for infrastructure projects, and this in turn, drove demand for commercial vehicle and OTR tires in the country.
As of 2015, the number of new registration were around 167,600 in Oman, out of which around 121,100 were passenger cars. As a result, passenger car tire sales accounted for majority of the tire sales in the country. Passenger car tire segment is forecasted to dominate tire sales during 2016-2021 as well, due to increasing urbanization and rising disposable income levels.
Due to absence of automobile manufacturing in Oman, the tire market is dependent on the replacement demand, which is being addressed by flagship as well as Chinese tire brands imported into the country. Though Oman tire market is dominated by leading global tire brands, the market share of international brands in the country is projected to decline during the forecast period due to increasing penetration of Chinese tire brands. Few of the prominent tire brands operating in Oman include Bridgestone, Goodyear, Yokohama, Michelin, and Pirelli.
Oman Tire Market Forecast & Opportunities, 2021 report elaborates following aspects of tire market in Oman:
- Oman Tire Market Size, Share & Forecast
- Segmental Analysis - Passenger Car Tires, Light Commercial Vehicle Tires, Medium & Heavy Commercial Tires & OTR Tires
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Market Trends & Developments
- Increasing Acceptance of Chinese Tires
- Evolution of Re-treaded Tire Market
- Increasing demand for Passenger Car Tires
- Run Flat Tires
- Nitrogen Filled Tires
- Apollo Tyres Ltd.
- Bridgestone Corporation
- Compagnie Générale Des Établissements Michelin
- Continental AG
- Goodyear Tire & Rubber Co.
- Hankook Tire Co Ltd
- Pirelli & C. Spa
- Sumitomo Rubber Industries Limited
- Toyo Tire & Rubber Co., Ltd.
- Yokohama Rubber Co., Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/xg58rh/oman_tire_market
Related Topics: Automotive Tires
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SOURCE Research and Markets