Saudi Arabia Tyre Market Forecast & Opportunities, 2020 GCC AND
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GCC ANDSaudi AFRICA Arabia COMMERCIAL Tyre Market VEHICLE ForecastAND TIRE & Opportunities, MARKET STUDY 2020 Market Intelligence . Consulting GCC Commercial Vehicle Market Overview GCC Commercial Vehicle Market anticipated to accelerate with a slower pace in the forecast period CAGR 2017E-2022F Prominent Automobile Brands CAGR 2012-2016 in GCC Countries By Volume: 3.25% By Volume: -5.59% 0.60 0.49 0.44 0.46 0.41 0.40 0.31 0.20 0.00 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2021F 2022F Volume Sales (Million Units) ❖ GCC truck and Bus market is majorly GCC Commercial Vehicle Sales Share, By Vehicle dominated by light vehicles that Type, 2016 & 2022 comprise of light trucks, light buses and GCC AND AFRICA pickups. COMMERCIAL VEHICLE AND TIRE MARKET STUDY Bus LCV ❖ Implementation of VAT by most of the Bus GCC countries in 2018 will stimulate LCV Pre-VAT sales rush. ❖ Lower government spending on new vehicle purchase and focus on rental or M&HCV leasing options. M&HCV ❖ Toyota, Mitsubishi and Isuzu are the 2016 2022 major brands for trucks and buses in GCC 2 Source: TechSci Research GCC Truck and Bus Market Outlook GCC Truck Market expected to recover from the downfall on account of improving crude oil prices CAGR 2012-2016 CAGR 2017E-2022F School & By Volume: -5.44% University By Volume: 2.29% 0.43 0.38 0.39 0.35 Logistics Construction Application Prominent Areas of Application 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2021F 2022F Truck and Bus Volume (Million Units) Areas Transport & GCC Truck Market in Volumes MSME’s Tourism GCC Bus Market also expected to recover on account of improving economic conditions and focus of non oil sector Oil Fields CAGR 2012-2016 CAGR 2017E-2022F By Volume: -6.62% By Volume: 9.16% Saudi Arabia dominate GCC Truck and Bus Market in Volume Terms due to its large fleet size and automobile sales GCC AND AFRICA 62.07 69.18 68.60 Qatar 55.71 51.13 Bahrain 2016: Kuwait 2016: COMMERCIAL VEHICLE 2016: 2022: 2022: AND TIRE MARKET STUDY 2022: 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2021F 2022F Volume (Thousand Units) UAE 2016: GCC Bus Market in Volumes 2022: Saudi Arabia Light Duty and Pick up truck dominate Truck market in GCC 2016: 65.46% countries 2022F: 60.67% 2016 40.79% 59.21% Medium & Heavy Duty Truck Oman Pickup and Light 2022F 42.80% 57.20% Duty Truck 2016: 3 2022: Source: TechSci Research GCC Tire Market Outlook GCC Tire Market expecting a robust growth in the next 5 years Improving Economic CAGR 2012-2016 CAGR 2017E-2022F Scenario By Volume: 5.61% By Volume: 6.47% 10.41 Factors Increasing 6.76 Increasing 4.40 4.78 Driving GCC Automobile 3.97 Tire Prices Tire Market Sales 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2021F 2022F Volume (Million Units) Expanding Automobile Fleet Size Passenger Car segment expected to dominate tire market in GCC countries Saudi Arabia dominate GCC Tire Market due to its large fleet size and automobile sales GCC AND AFRICA Bahrain Qatar 2016: Kuwait 2016: COMMERCIAL VEHICLE 2016: 2022: 2022: AND TIRE MARKET STUDY 2022: UAE 2016: Chinese and European brands dominate GCC Tire Market 2022: Saudi Arabia European Asian 2016: 67.30% Chinese 2022F: 68.06% Brands Brands Chinese brands include Tianjan, Jiangsu, King’s West Lake and Marshal European brands include Dunlop, Pirelli, Michelin, and Continental Oman 2016: Asian brands include Bridgestone, Yokohama, Toyo, Kumho and others 4 Source: TechSci Research 2022: A f r i c a Commercial Market O v e r v i e w Africa Commercial Vehicle Market expected to recover in the forecast period CAGR 2012-2016 CAGR 2017E-2022F Prominent Automobile Brands in By Volume: -2.24% By Volume: 2.28% African Countries PC – 0.98 Million Units 0.46 0.47 0.42 0.43 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2021F 2022F Volume (Million Units) ❖ Toyota, Isuzu and Nissan are the major Africa Commercial Vehicle Sales Share, By Vehicle brands in Africa truck and bus market GCC AND AFRICA Type, 2016 & 2022 ❖ Africa truck and bus market is expected COMMERCIAL VEHICLE to recover in the next 5 years due to AND TIRE MARKET STUDY LCV Bus improving political scenario and Bus LCV governments focus on developing M&HCV infrastructure in their respective M&HCV countries. 2016 2022 5 Source: TechSci Research Africa Truck and Bus Market Outlook Africa Truck Market expected to recover in the forecast period ❖ Africa truck market is heavily dependent on imports as CAGR 2012-2016 only very few countries have production units. CAGR 2017E-2022F By Volume: -2.20% By Volume: 2.32% 0.45 ❖ South Africa, Egypt, Algeria, Morocco and Tunisia 0.44 0.42 0.40 0.38 dominate truck and bus sales in the region. ❖ Africa truck market is characterized by sale of used trucks. ❖ Libya, Nigeria, Ghana, Kenya and Zimbabwe are the 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2021F 2022F major importers of used trucks in Africa. Volume (Million Units) Source: TechSci Research ❖ Toyota’s Hilux and Isuzu’s KB series in light duty trucks, Africa Bus Market also expected to recover in the forecast period UD Trucks’ Quester, Scania’s P-Series and Iveco’s Eurocargo in medium and heavy duty trucks are the most popular truck models in Africa. CAGR 2012-2016 CAGR 2017E-2022F By Volume: -3.37% By Volume: 1.01% List of Prominent Truck and Bus Players in Africa, By Vehicle Segment GCC AND AFRICA 15.93 16.04 14.65 Truck Type Top Players Others COMMERCIAL VEHICLE Light Duty Ford, Mazda, Mahindra, Renault, AND TIRE MARKET STUDY Toyota, Isuzu Trucks and Mitsubishi, TATA, Chevrolet, Fiat, and Nissan Bus Mercedez Benz and others 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2021F 2022F Volume (Thousand Units) Nissan, Toyota, TATA, Hino, General Source: TechSci Research Medium UD Trucks, Motors, Renault, Fiat, Fuso, Duty Truck Saudi Arabia Iveco and Isuzu Powerstar, Peugeot, Volkswagen and Pickup and Light duty trucks dominate Africa Truck Market and Bus others Heavy Duty Scania, Man, 2016 27.56% 72.44% Medium & Heavy Iveco, Renault, Volkswagen, Truck and Volvo and Duty Truck Powerstar, Navistar and others Bus Mercedez Benz Pickup and Light Duty Truck 2022F 26.90% 73.10% Source: TechSci Research 6 Africa Tire Market Outlook Africa Tire Market expecting a moderate growth in the next 5 years CAGR 2012-2016 CAGR 2017E-2022F By Volume: 3.04% By Volume: 2.87% Improving 10.41 7.47 Economic and 3.97 4.40 4.78 Political Scenario 2012 2013 2014 2015 2016 2017E 2018F 2019F 2020F 2021F 2022F Volume (Million Units) Factors Recovering Increasing Driving Africa Automobile Tire Prices Tire Market Sales Passenger Car segment expected to dominate tire market in African countries Reviving Automobile Production GCC AND AFRICA COMMERCIAL VEHICLE AND TIRE MARKET STUDY Source: TechSci Research Chinese and Asian brands dominate Africa Tire Market South Africa, Egypt and Algeria dominate Africa Asian European Tire Market Chinese Brands Brands Chinese brands include Tianjan, Jiangsu, King’s West Lake and Marshal Asian brands include Bridgestone, Yokohama, Toyo, Hankook, Kumho and others Source: TechSci Research 7 European brands include Pirelli, Michelin, and Continental Key Insights GCC Tire Market GCC Truck and Bus Market GCC Truck and Bus Tire Market ❖ Saudi Arabia Dominate GCC tire market ❖ GCC truck and Bus market is majorly dominated by light vehicles that comprise of light trucks, ❖ Chinese brands owing to economical price and light buses and pickups. easy availability dominate GCC tire markets ❖ Owing to low crude oil prices in the last 5 years, ❖ Passenger car segment has the highest GCC truck and Bus market has exhibited a penetration of tires in GCC among all vehicle negative growth segments ❖ Toyota, Mitsubishi and Isuzu are the major brands for truck and bus in GCC GCC and Africa Tire and Truck/Bus Market Key Insights GCC AND AFRICA COMMERCIAL VEHICLE AND TIRE MARKET STUDY Africa Truck and Bus Market Africa Tire Market ❖ Toyota, Isuzu and Nissan are the major brands in ❖ South Africa Dominate African tire market Africa truck and bus market ❖ Chinese and Indian brands owing to economical ❖ Africa truck and bus market is expected to recover price and easy availability have good presence in in the next 5 years due to improving political Africa tire market scenario and governments focus on developing infrastructure in their respective countries. ❖ Many Flagship companies are reworking their strategy to tap African markets especially in countries like Sudan, Eritrea, Ethiopia an others 8 Thank You About Us TechSci Research is a global market research and consulting company with offices in the US, the UK and India. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports UAE Commercial Vehicles Market Forecast & Opportunities 2011-2021 Send us your Saudi Arabia Commercial Vehicles Market Forecast & Opportunities 2011-2021 feedback or queries at Qatar Commercial Vehicles Market Forecast & Opportunities 2011-2021 [email protected] Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable.