According to Markntel Advisors Report, Kuwait Tire Market is expected to grow at a significant growth rate, and the analysis period is 2022-2027, considering the base year as 2021. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
The tire industry in Kuwait is highly import-driven due to the absence of any manufacturing facilities across the country. Hence, it imports tires from countries like China, India, Japan, Thailand, and others to cater to the growing vehicle fleet in the country. The government of Kuwait is also supporting the expansion of the tire industry through massive funding and favorable policies to attract foreign investments for the establishment of tire manufacturing facilities in the country.
Kuwait Tire Market Research Report Summary:
The Kuwait Tire Market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2022-27.
Time Period Captured in the Report:
- Historical Years: 2017-20
- Base Years: 2021
- Forecast Years: 2022-27
Who are the Key Players Operating in the Kuwait Tire Market?
The top companies of the Kuwait Tire Market ruling the industry are:
Continental, Bridgestone, Yokohama, Hankook, Goodyear, Michelin, Sumitomo, Kumho, Pirelli, Toyo
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The Kuwait Tire Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
-By Type of Vehicles
-Passenger Cars
-Light Commercial Vehicles
-Medium and Heavy Commercial Vehicles
-Off the Road (OTR)
-Two Wheelers
-Three Wheelers
-By Demand Category
-OEM
-Aftermarket
-By Type of Tire
-Radial
-Bias
-By Sales Channel
-Dealer/Distributor
-Online
-Others
-By Season
-All-Season
-Summer
-By Price Category
-Low (Up to USD90)
-Medium (USD91-USD140
-High (Above USD140)
-By Rim Diameter
-Upto 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”
-By Region
-Jahra
-Asima
-Farwaniya
-Hawalli
-Ahmadi
Full Report Link: https://www.marknteladvisors.com/research-library/kuwait-tire-market-analysis.html
Possible Growth Restraint for the Kuwait Tire Market
- Easy Availability of Low-Cost Chinese Tires Affecting the Growth of Premium Brands
With the growing awareness among people about the timely replacement of tires for utmost safety improved driving experience entwined with the easy availability of low-cost Chinese tires, the demand for tires of premium brands is declining rapidly and hindering the expansion of the Kuwait Tire Market.
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