Growing Investments is Propelling the Growth of Oman Tire Market | Covid-19 Impacts on the Market

The total population of Oman in 2020 was around 5.15 million and the population is expected to grow further throughout 2026. Snowballing vehicle motorization rate coupled with mounting focus on diversification of the country’s economy into non-oil sectors such as construction, tourism, logistics, etc., is forecast to drive growth in Oman’s tire market during 2021-2026.

According to MarkNtel Advisors’ research report “Oman Tire Market Analysis, 2020”, the Oman Tire market is expected to grow at a considerable CAGR during 2021-26. Oman had 120, 718 confirmed cases in November 2020, therefore all the schools and other activities such as construction and development activities were suspended due to the enlarging number of cases of coronavirus. The halt in the country led to the disruption of supply chain and impacted the imports of tires from other countries.

Request to get the sample pages of the market report: https://www.marknteladvisors.com/query/request-sample/oman-tire-market.html

Key questions answered in the study:
1. What are the current and future trends of the Tire industry?
2. How the industry has been evolving in terms of sales demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Tire industry?
5. What is the customers’ orientation, purchase behavior, and expectations from the Tire firms across various regions?

Replacement Demand is Witnessing a Major Growth
Due to absence of automobile manufacturing in Oman, the tire market is dependent on the replacement demand. Thus, Chinese tire brands imports tires into the country and some other tire brands help in fulfilling the demand. The tires are imported from the countries such as UAE, China, Japan, Thailand, India, etc. The country has high presence of Chinese tires seller brands as revealed by the MarkNtel Advisors’ research report “Oman Tire Market Analysis, 2020”.

“Oman Tire Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Oman Tire providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

For detailed report visit: https://www.marknteladvisors.com/research-library/oman-tire-market.html

15’ to 18’ Rim Size Registered the Largest Market Share

The rim size of 15” to 18” are growing at a rapid rate on an account of growing traction toward SUVs and induction of larger rims in Sedan and SUVs by the manufacturers. The demand for rim size 16” and 17” has been rising from the automakers such as BMW, Mercedes, Honda, Hyundai, Ford, etc. These manufacturers are focused on providing distinctive looks to their vehicles in addition to lower rolling resistance and better wet traction.

According to MarkNtel Advisors’, the key players with a considerable market share in the Oman Tire market include Bridgestone Corporation, Sumitomo Rubber, Compagnie Générale Des Établissements Michelin, Yokohama Rubber, Pirelli & C.Spa, Hankook Tire Co., Toyo Tire & Rubber Company Ltd, Continental, Apollo Tyres, Goodyear Tires, etc.

Market Segmentation:
1. By Vehicle Type (Scooter and Moped, Motorbike)
2. By Installation (OEM, Replacement)
3. By Type of Tire (Bias, Radial)
4. By Rim Size (10” to 16”, Above 15”, Above 16”)
5. By Price Category (Low, Medium, High)
6. By Sales Channel (Online, Multi Brand Stores, Exclusive Outlets)
7. By Company (Bridgestone Corporation, Sumitomo Rubber, Compagnie Générale Des Établissements Michelin, Yokohama Rubber, Pirelli & C.Spa, Hankook Tire Co., Toyo Tire & Rubber Company Ltd, Continental, Apollo Tyres, Goodyear Tires, etc..)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.