(MENAFN) The tire market in Saudi Arabia is increasing fast due to increase in a number of per capita cars in the kingdom, which will grow 3.2 times by 2026.
The increase is driven by the growing demand coming from the four-wheeler vehicle tires segment, which will grow at a strong CAGR amid 2016-2026.
Moreover, the four wheeler vehicle tire segment is projected to account for more than 60 percent volume share of the whole Saudi market by 2016 end.
Accordingly, the passenger car vehicle tires segment accounts for more than half of KSA vehicle tire segment will grow at a CAGR which is projected to be more than 2 percent.
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