Global Market Research Company US Egypt Tire Market, Forecast and Opportunities, 20 | Page 13

I N D U ST RY B R I E F
According to TechSci Research report, “Egypt Tire Market By Vehicle Type, By Demand Category, By Radial Vs Bias, Competition,
Forecast & Opportunities, 2030”, Egypt tire is projected to reach $ 1.8 billion, by the end of 2030. The growth in the market is led by
rising tire sales across Egypt as well as growing population and vehicle fleet. In addition to that, the expanding ventures by leading OEM
Manufacturers, growing inclination of consumers towards tire market and the growing sales of passenger cars, two-wheelers and
commercial vehicles, is further anticipated to compliment the overall tire market in Egypt over the next five years.
With an expanding volume share of around 47% in 2018, passenger car tire segment dominated Egypt tire market, followed by the
commercial vehicle tire segment. Dominance of this segment can be attributed to improving economic scenario, growing per capita
income, increase in production and sales of passenger cars coupled with rising demand for tires from the replacement segment and
imposing ban on used vehicle import.
Rising presence of various companies such as Bridgestone, Michelin, Continental AG, Maxxis, Falken, Trenco, Pirelli, Goodyear, etc.,
and their continued operations in the tire industry of the country is further anticipated to intensify the Egypt tire market during the next ten
years.
“With the aid of foreign direct investment policy in Egypt and technological advancements like pressure monitoring system, fuel efficiency
tires along with growing vehicle fleet, the demand for tires is expected to grow in Egypt. Moreover, automotive industry witnessed a healthy
sales growth in the last few years and the same trend is expected to continue in the coming years as well, which would further steer
growth in the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting
firm.
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