A tire or wheel is a flat-area ring-like part that surrounds the rim of a tire to transport the weight of a vehicle through the wheel to a fixed surface and to give traction on that surface over which the tire travels. Today, tires are used in a wide variety of vehicles and purposes. Some are used for commuting; they have treads for traction on streets and highways, while others have radial tires with larger diameters that are intended for use on tracks. The type of vehicle, tire, and occasion determine which type of tire is most appropriate. Common types of tires are Urethane (also known as rubber) and Metalibond (an alloy of a metal with a steel ring). There are other common types of tires such as compound, solid, split and tubeless. Rubber is the most plentiful material for tires; however, it is also the heaviest. This makes it impractical for most rural users. Since it is so heavy, rubber is usually made with additives that make it stiffer and more durable; this means that it will last longer, although it also means that it requires a more intensive maintenance regimen.
Market Drivers
Rising demand for four-wheelers is expected to accelerate growth of the KSA tire market during the forecast period. As per the Organisation Internationale des Constructeurs d'Automobiles (OICA), total vehicle (commercial + passenger) sales reached 96 million units in 2017, increasing from 86 million units in 2013 globally. This, in turn, has increased the demand for tires across the globe. Hence, such factors are expected to accelerate the market growth over the forecast period.
Rising demand for commercial vehicles including trailers and trucks is expected to boost the KSA tire market growth in the near future.
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