Saudi Arabia Retread Tire Market, By Vehicle Type (OTR, Commercial Vehicles, Passenger Cars); By Retread Process (Cold Process, Hot Process), Trend Analysis, Competitive Landscape & Forecast, 2022–2028

Saudi Arabia Retread Tire Market, By Vehicle Type (OTR, Commercial Vehicles, Passenger Cars); By Retread Process (Cold Process, Hot Process), Trend Analysis, Competitive Landscape & Forecast, 2022–2028

Saudi Arabia Retread Tire Market to Grow at Steady CAGR of 5.8% during 2022–2028
Saudi Arabia retread tire market is flourishing because of an increasing emphasis on light commercial vehicle retread type, soaring demand for affordable and sustainable tire, and rapid urbanization, and industrial activity.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Saudi Arabia retread tire market size to grow at a CAGR of 5.8% during the forecast period between 2022 and 2028. Saudi Arabia retread tire market expansion is driven by increased automotive manufacturing and sales, rapid urbanization, and higher disposable income. The leading authorities invest their generated income from oil and gas in other industries. Such heavy investments combined with expanding technological innovations are expected to drive the market further. Additionally, the increasing adoption of retread tires due to their low cost and sustainability, as well as heavy and commercial vehicles' growing demand for tire retreading for construction, mining, and agriculture applications, are expected to fuel the growth of Saudi Arabia retread tire market. However, automobile owners’ preference for the imported budget tires from Asian countries over retread tires is anticipated to limit the growth of Saudi Arabia retread tire market during the period in analysis.

Saudi Arabia Retread Tire Market – Overview
Retreading is a tire remanufacturing procedure that replaces the tread on worn tires. It is conducted on used tire casings after they have been assessed and reconditioned. Retread tires have recorded an increasing demand in the motorsport segment in recent years, thus major industry players in the retread tire market are offering distinctive qualities of retread tires to cater to the specific needs of end users in the domain. To obtain access to their prospective customers, manufacturers in the retread tire business are offering more value-added tire retreading services.
Segmental Information
Saudi Arabia Retread Tire Market – By Vehicle Type
Based on by vehicle type, Saudi Arabia Retread Tire Market has OTR (off the road) vehicles, Commercial Vehicles, and Passenger Cars segments. The commercial vehicles segment holds the highest share in the market due to increasing logistics and industrial activities. Furthermore, the increasing adoption of retread tires in commercial vehicles owing to its affordability and high wear and tear is also expected to contribute to the expansion of Saudi Arabia retread tire market during the forecast period.


Impact of COVID-19 on Saudi Arabia Retread Tire Market
COVID-19 pandemic had a detrimental impact on automobiles and tire industries in 2020 posing various unprecedented hurdles for Saudi Arabia retread tire market. Throughout the crisis, tire manufacturers and importers suffered massive revenue losses due to a lack of raw materials, supply chain disruptions, delivery and manufacturing delays, and pricing instability. Furthermore, due to transportation and freight transportation, services, aircraft, and ships worldwide were prohibited, causing firms to lose money. The Saudi government, on the other hand, did not impose any limitations on construction works because they are a substantial source of economic mobility in the region. As a result, demand for commercial vehicles and retread tires increased, allowing market leaders to remain competitive, along with an expanding e-commerce platform through which manufacturers began selling their products and providing door delivery and installation services to their potential clients, boosting the retread tire market throughout the crisis. Furthermore, as Covid-19 cases decreased, the government relaxed the restrictions and let industrial operations to resume. Hence, the Saudi Arabia retread tire market is expected to grow at a steady rate during the period in analysis.
Competitive Landscape
Major players operating in Saudi Arabia Retread Tire Market include Hankook, Bridgestone, Goodyear, Michelin, Continental, Toyo, Kumho, Al-Jawad Tire Retreading, General Group, Al Howail Tire Retreading Factory, and Marangi Retreading Systems. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product development.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Saudi Arabia Retread Tire Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Retread Tire Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.


1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Saudi Arabia Retread Tire Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Cost reductions of vehicle tires
3.2.1.2. Increasing demand for light commercial vehicle retread tire
3.2.1.3. Increasing need for affordable and sustainable tires
3.2.2. Restraints
3.2.2.1. Less dependability to impede the market growth
3.2.3. Opportunities
3.2.3.1. Environmental protection and advancement of technology
3.2.3.2. Developing affordable and recyclable substitutes
3.2.4. Challenges
3.2.4.1. Volatile raw material prices
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Saudi Arabia Retread Tire Market Overview
4.1. Market Size & Forecast by Value, 2018–2028
4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
4.2.1. By Vehicle Type
4.2.1.1. OTR
4.2.1.2. Commercial Vehicles
4.2.1.3. Passenger Cars
4.2.2. By Retread Process
4.2.2.1. Cold Process
4.2.2.2. Hot Process
5. Competitive Landscape
5.1. List of Key Players and Their Offerings
5.2. Market Share Analysis, 2021
5.3. Competitive Benchmarking, By Operating Parameters
5.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on Saudi Arabia Retread Tire Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
7.1. Hankook
7.2. Bridgestone
7.3. Goodyear
7.4. Michelin
7.5. Continental
7.6. Toyo
7.7. Kumho
7.8. Al-Jawad Tire Retreading
7.9. General Group
7.10. Al Howail Tyre Retreading Factory
7.11. Marangi Retreading Systems
7.12. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
9.1. Qualitative Research
9.1.1. Primary & Secondary Research
9.2. Quantitative Research
9.3. Market Breakdown & Data Triangulation
9.3.1. Secondary Research
9.3.2. Primary Research
9.4. Breakdown of Primary Research Respondents, By Region
9.5. Assumption & Limitation
*Financial information in case of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable
List of
Figures
Figure 1 Saudi Arabia Retread Tire Market Segmentation
Figure 2 Saudi Arabia Retread Tire Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 Saudi Arabia Retread Tire Market Size, By Value (USD Million), 2018–2028
Figure 5 Saudi Arabia Retread Tire Market Share, By Vehicle Type, By Value, 2018–2028
Figure 6 Saudi Arabia Retread Tire Market Share, By Retread Process, By Value, 2018–2028
List of
Table
Table 1 Saudi Arabia Retread Tire Market Size, By Vehicle Type, By Value (USD Million), 2018–2028
Table 2 Saudi Arabia Retread Tire Market Size, By Retread Process, By Value (USD Million), 2018–2028
Table 3 Hankook Company Overview
Table 4 Hankook Financial Overview
Table 5 Bridgestone Company Overview
Table 6 Bridgestone Financial Overview
Table 7 Goodyear Company Overview
Table 8 Goodyear Financial Overview
Table 9 Michelin Company Overview
Table 10 Michelin Financial Overview
Table 11 Continental Company Overview
Table 12 Continental Financial Overview
Table 13 Toyo Company Overview
Table 14 Toyo Financial Overview
Table 15 Kumho Company Overview
Table 16 Kumho Financial Overview
Table 17 Al-Jawad Tire Retreading Company Overview
Table 18 Al-Jawad Tire Retreading Financial Overview
Table 19 General Group Company Overview
Table 20 General Group Financial Overview
Table 21 Al Howail Tyre Retreading Factory Company Overview
Table 22 Al Howail Tyre Retreading Factory Financial Overview
Table 23 Marangi Retreading Systems Company Overview
Table 24 Marangi Retreading Systems Financial Overview

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