Egypt Passenger Car Tire Market: In-Depth Analysis and Forecasts for 2024-2029
MarkNtel Advisors, a leading market research firm, has showed its latest study titled “Egypt Passenger Car Tire Market“, offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Egypt Passenger Car Tire Market: 2024-2029
The Egypt Passenger Car Tire Market is estimated to grow at a CAGR of around 6.23% during the forecast period, i.e., 2024-29. The factors attributing to the growth in the demand for passenger car tires in Egypt are the growing automotive production and increasing usage of ride-hailing taxis. In recent years, there has been a significant rise in the net disposable income of the country’s citizens. According to the International Monetary Fund (IMF), in 2022, the Gross Domestic Product (GDP) per capita was approximately USD 4560, an increase of about 10% compared to 2021.
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What are the primary factors driving the growth of the Egypt Passenger Car Tire Market?
Government Emphasis on Road Safety Accelerating Growth of Egypt’s Passenger Car Tire – Over the past few years, there has been a surge in road accidents due to factors such as overspeeding, tire defects, and others. According to the American University in Cairo, the country per year witnesses around 12,000 fatalities. These accidents also poorly affect the economy of the country. In addition, as per Al-Monitor, in 2022, road accidents in Egypt led to the loss of approximately 3% of the overall country’s GDP. One of the reasons behind the road accidents is the usage of deteriorated tires, leading to less traction between the tire & roads.
Therefore, the government of Egypt laid the regulation compelling the consumers to ensure the replacement of the tires at regular intervals. These regulations regarding road safety have necessitated frequent tire replacement for every car owner, driving the Egypt Passenger Car Tire market. Moreover, these regulations are also surging consumers to seek premium quality tires since they offer better gripping & traction. Thus, the premium tires provided by companies like Bridgestone, Continental, etc., are witnessing growth and are expected to do well in coming years as well.
Egypt Passenger Car Tire Market Segmentation:
The Egypt Passenger Car Tire market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
By Vehicle Type
-
- Sedan- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- SUV- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Hatchback-Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
By Demand Type
- OEM – Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Aftermarket – Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
By Sales Channel
- Direct Sales- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Multi Brand Stores & Exclusive Outlets- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Online- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
By Tire Type
- Radial- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Bias- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
By Tire Size
- Tire Size 1- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Tire Size 2- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Tire Size 3-Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Tire Size 4-Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Tire Size 5-Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
By Price Category
- Budget- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Economy- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Premium- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
By Season
- Summer- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- Winter- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
- All-Season- Market Size & Forecast 2019-2029, Units Sold (Thousand Units)
Geographical Analysis into the Egypt Passenger Car Tire Market:
The Egypt Passenger Car Tire market is categorized based regional:
- East
- West
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Competitive Landscape and Egypt Passenger Car Tire Market Share Analysis:
The competitive landscape of the Egypt Passenger Car Tire Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
- Bridgestone Corporation
- Michelin
- Continental AG
- Pirelli Tyre S.p.A
- Trenco Transport and Engineering Co.
- Goodyear Tire and Rubber Company
- Falken Tyres
- Lassa Tyres
- Maxxis Tire
- Yokohama Rubber Company Limited
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Questions Addressed in this Study
- What factors are driving the Egypt Passenger Car Tire Market growth?
- How is the Egypt Passenger Car Tire Market expected to grow over the next five years?
- What are the key insights into the current trends in the Egypt Passenger Car Tire Market?
- What is the current size of the Egypt Passenger Car Tire Market, and how is it projected to change in the future?
- What is the future outlook for the Egypt Passenger Car Tire Market in terms of technological advancements and market expansion?
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