Saudi Tire market
Saudi Tire market
Saudi Arabia at a glance
Population : 35 million (2021)
Land Area : 2,331,000 Sq. Km. (900,000 Sq. Miles)
| Yemen | 1,458 km |
|---|---|
| Iraq | 814 km |
| Jordan | 744 km |
| Oman | 676 km |
| UAE | 457 km |
| Kuwait | 222 km |
| Qatar | 60 km |
| Bahrain | 10 km |
Saudi Arabia – Key Economic indicators
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GDP (USD Billions)
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Name Kingdom of Saudi Arabia Capital Riyadh Area 2,149,690 sq. km Regions 13 GDP (2018) $ 786,522 M Median Age (2019) 29.9 Years Fact sheets
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Population
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Population segregation
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Urbanization
Saudi Arabia has the largest population in the GCC and healthy GDP per Capita as compared to other economies in the region.
Policy rates of the country is 2.3% lower than other policy rates in Middle East.
The strong macroeconomic factors and new dynamics suggest that the kingdom is headed towards a new era of economic
restructuring where there will be more opportunities for investments.
Policy rates of the country is 2.3% lower than other policy rates in Middle East.
The strong macroeconomic factors and new dynamics suggest that the kingdom is headed towards a new era of economic
restructuring where there will be more opportunities for investments.
Source: world meters, CNN
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Population in Millions
2020 -
Per capita income
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Inflation rate (%)
2020 -
Policy rate
Saudi Tire market share
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Europe
Great design, High on Safety &
mostly premium priced -
USA
High quality, Higher price range -
Japanese
High quality, Good value &
Great service -
Korean
Great quality, competitive price -
China
Price driven, Ok quality
Demand
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1
No Local Tire manufacturing in Saudi Arabia
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2
All demand for tires is met by imports
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3
More than 50 Tire Brands imported annually into KSA
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4
Bridgestone, Michelin, Good year, Dunlop, Yokohama, Hankook, Pirelli, Kumho & Max
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5
Average Saudi tire market CAGR is around 6%
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6
Saudi Arabian tire market is valued at US $ 4 Billion
Production & Market development
Primary market : Saudi Arabia
Secondary market: Middle East & Global
Factory Location : Sudair
Size : 600,000 to 1,200,000 Sqms
| Capacity by product type | Production Capacity |
|---|---|
| Passenger car tires | 5 Million |
| Light Commercial vehicles | 1.5 Million |
| Trucks & Buses tires | 0.5 Million |
| Other tires | 0.5 Million |
| Region wise distribution & Sales (Forecasted) | Production Capacity |
|---|---|
| Central & North Region | 3.5 Million |
| Western Region | 2.5 Million |
| Eastern Region | 1 Million |
| Sothern Region | 0.5 Million |
The type of tires to be produced are redial or Bias
Tire factory design concept
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SIZE – 600,000sqm for the production capacity of 7.5 Million tires.
Additional land area to increase the production to 15 million -
Total land area to be 1.2 Million Sqms (For future expansion & 3PL center to establish a Regional distribution Hub) -
Location – Industrial clusters in the Modon ( Eastern or western province) -
Production capacity – 5 to 7.5 million tires – Phase 1
Production capacity – 10 to 15 millions tires – Phase 2 -
Product type : PCV, LCV, HCV, buses & Other tires