COVID-19 Impacts on Oman Tire Market | Oman Tire Market Growth, Size, Share, and Trends Forecast Report by 2026

According to MarkNtel Advisors' research report, "Oman Tire Market Analysis, 2021," the market is likely to grow at a considerable CAGR in the forecast period of 2021-26. It owes majorly to the rapidly growing vehicle motorization rate, with a developing focus to diversify Oman's economy across sectors, such as tourism, construction, logistics, etc. Additionally, the unavailability of automobile OEMs & tire production units in Oman, the country inclines toward the imports to suffice the domestic requirements for tires. Another fact that the passenger cars segment held the majority share of automobile sales in recent years is another crucial aspect likely to fuel the Oman Tire Market in the forecast period.

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Key Questions Answered in the Study
1. What are the current and future trends in the Oman Tire Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Oman Tire Market?
5. What are the customer orientation, purchase behavior, and expectations from the Oman Tire Market service providers across various regions?

Covid-19 Severely Impacted the Oman Tire Market
The outbreak of the Covid-19 pandemic shook industries of all kinds across the globe. Yet, of all, the Oman Tire Market was the most affected. Amidst the Covid-19 pandemic, the Oman government imposed a nationwide lockdown and movement restrictions to curb the virus spread, putting a temporary hold on the production units and causing supply chain disruptions. Further, the market observed delays in project completion and loss of finances due to delivery failures, resulting in a severe decrease in revenue share. However, with the gradual upliftment of restrictions and ease of stringent regulations, the market shall regain its usual pace in the forecast years and produce lucrative opportunities for market players.

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"Oman Tire Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Tire providers across the country. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

All-Season Tires to Attain the Largest Share of The Oman Tire Market

The Oman Tire Market comprises All-Season and Summer Tires. Of both, All-Season Tires are more likely to attain the largest market share in the forecast period. These tires go all year round and offer several benefits to people. Additionally, the flexibility & adaptability of these tires throughout the changing seasons & terrains make them incredibly reliable. Hence, the demand for these tires is propelling across the country. Besides, these tires made up of specific compounds can function & support the vehicle without getting stiff in cold weather.

These tires provide adequate grip to the vehicle on dry & warm terrain, which makes them favorable for all seasons. Moreover, these tires come in different budgets, do not require much maintenance, and are available for all kinds of vehicles. However, a timely inspection is all that it takes to maintain them. Therefore, based on the aspects cited above, the demand for all-season tires is exponential in Oman and is likely to attain the largest share in the forecast period, states MarkNtel Advisors in their research report, “Oman Tire Market Analysis, 2021.”

According to MarkNtel Advisors, the leading players in the Oman Tire Market are 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.

Market Segmentation:
1. By Type of Vehicles (Passenger Car, Light Commercial Vehicle, Buses and Trucks, Medium and Heavy Commercial Vehicles, Off the Road (OTR), Two Wheelers)
2. By Demand Type (OEM, Replacement)
3. By Type of Tire (Radial, Bias)
4. By Season (All-Season, Summer)
5. By Sales Channel (Online, Dealers/ Exclusive Outlets, Others)
6. By Rim Size (Up to 12”, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”)
7. By Price Category (Low, Medium, High)
8. By Region (North, South, Central)
9. By Competitors (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)

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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.

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