New Sector Introduced
Tyre market in Egypt is projected to surpass USD 1 billion through 2020
Passenger car tyre is the dominant segment in the country's tyre market followed by commercial vehicle tyre and two-wheeler tyre. Passenger car sales increased at a CAGR of 4.6% during 2010-14. Pirelli and Trenco Transport and Engineering Co. are the only two companies that are domestically manufacturing tyres in Egypt. Tyre market in the country is dominated by Pirelli, while Continental, Bridgestone and Goodyear are other major players in the market. These players are substantially larger than other suppliers in the market and address demand for both OEM and replacement tyres.
Automotive industry is one of the main pillars of industrial development in Egypt. Egypt automotive market is an important market in the Middle-East and North-Africa (MENA) region, due to its population size. Major challenges confronting automotive and tyre market growth in Egypt were political instability and violence in the country. Egypt has been a centre of riots and civil war over last two decades. Consequently, Egypt automotive industry growth encountered hindrance due to political instability and economic slowdown. However, the market has revived since Egypt government adopted favourable policies to boost its domestic automotive industry and is further expected to witness growth over the next five years.
Tyre market in Egypt is highly dependent on imports due to lack of domestic production of tyres. The country has only two tyre manufacturing facilities, and majority of demand for tyres is catered through imports. Egypt imports tyres primarily from Indonesia, Japan, Turkey and Thailand. These countries account for more than half of the country's total tyre imports.
Egypt Tyre Market Forecast & Opportunities, 2020 discusses the following aspects related to tyre market in Egypt:
- Distributor and Dealers Network
- Growing Automobile Sales
- Fuel Efficient Tyres
- Tyre Pressure Management System (TPMS)
- Seal Inside Technology