Growing Investments is Propelling the Growth of Oman Tire Market

The Oman Tire market is anticipated to grow at a considerable CAGR during 2021-2026.
 
OMAN, Oman - Dec. 10, 2020 - PRLog -- The total population of Oman in 2020 was around 5.15 million and the population is expected to grow further throughout 2026. Snowballing vehicle motorization rate coupled with mounting focus on diversification of the country's economy into non-oil sectors such as construction, tourism, logistics, etc., is forecast to drive growth in Oman's tire market during 2021-2026.

According to MarkNtel Advisors' research report "Oman Tire Market Analysis, 2020", the Oman Tire market is expected to grow at a considerable CAGR during 2021-26. Oman had 120, 718 confirmed cases in November 2020, therefore all the schools and other activities such as construction and development activities were suspended due to the enlarging number of cases of coronavirus. The halt in the country led to the disruption of supply chain and impacted the imports of tires from other countries.

Replacement Demand is Witnessing a Major Growth

Due to absence of automobile manufacturing in Oman, the tire market is dependent on the replacement demand. Thus, Chinese tire brands imports tires into the country and some other tire brands help in fulfilling the demand. The tires are imported from the countries such as UAE, China, Japan, Thailand, India, etc. The country has high presence of Chinese tires seller brands as revealed by the MarkNtel Advisors' research report "Oman Tire Market Analysis, 2020".

"Oman Tire Market Analysis, 2020"
provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Oman Tire providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

For detailed analysis visit: https://www.marknteladvisors.com/research-library/oman-ti...

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Tags:Oman Tire Market
Industry:Automotive
Location:Oman - Oman - Oman
Subject:Reports
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