Updated Jan 18, 2023 15:42

Market for Truck and Bus Tyre in the United Arab Emirates

Market Overview
The truck and bus tyre market in the United Arab Emirates dropped to $ in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. Truck and bus tyre consumption peaked at $ in 2012; however, from 2013 to , consumption stood at a somewhat lower figure.


Consumption
In , the amount of tyres for buses or lorries consumed in the United Arab Emirates dropped slightly to units, which is down by -% compared with the year before. In general, consumption saw a slight descent. As a result, consumption attained the peak volume of units. From 2017 to , the growth of the consumption remained at a lower figure.

The revenue of the truck and bus tyre market in the United Arab Emirates reduced to $ in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. Truck and bus tyre consumption peaked at $ in 2012; however, from 2013 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for truck and bus tyre in the United Arab Emirates, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Truck and bus tyre market in the United Arab Emirates consists almost entirely of imported products.


Trade Balance
The United Arab Emirates remains a net importer of truck and bus tyre; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.