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According to the latest report by MarkNtel Advisors, titled “Egypt Passenger Car Tire Market By Vehicle Type (Sedan, SUV, Hatchback), By Demand Type (OEM, Aftermarket), By Sales Channel (Direct Sales, Multi Brand Stores & Exclusive Outlets, Online), By Tire Type (Radial, Bias), By Tire Size (Tire Size 1, Tire Size 2, Tire Size 3, Tire Size 4, Tire Size 5), By Price Category (Budget, Economy, Premium), By Season Summer, Winter, All-Season), The Egypt Passenger Car Tire Market is estimated to grow at a CAGR of around 6.23% during the forecast period, i.e., 2024-29. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.
Base Year: 2023
Forecast Period: 2024-29
Historical Data: 2019-22
CAGR (2024-2029): 6.23%
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Growing Demand for Electric and Hybrid Cars – In recent years, there has been a significant rise in carbon emissions owing to rapid industrialization and the rising inclination of consumers towards personal transportation. According to the International Energy Association (IEA), in 2021, the annual carbon dioxide emission reached approximately 249.62 million tonnes, an increase of about 6% compared to 2020. These carbon emissions lead to environmental issues like climate change, biodiversity loss, and health hazards like respiratory diseases. As a result, the government of Egypt laid down initiatives & plans such as the National Climate Change Strategy 2050, to encourage the adoption of sustainable transportation, i.e., electric cars to minimize carbon emissions.
In addition, the government of Egypt is encouraging foreign automakers to establish their electric car manufacturing in the country by easing corporate tax laws and providing subsidies. The setup of the electric car manufacturing unit in the country would pose an opportunity for passenger car tire manufacturers like Bridgestone, Continental, Pirelli, etc., to offer their tires directly to these production units, enhancing the Egypt Passenger Car Tire Market during foreseen years.
-By Vehicle Type
The SUVs dominate the Egypt Passenger Car Tire Market owing to the growing consumer inclination towards larger passenger vehicles.
-By Demand Type
The passenger car is used widely in Egypt for a variety of purposes including family outings, commuting to the office or any other place, city exploration, and others.
Explore Our Comprehensive Study: https://www.marknteladvisors.com/research-library/egypt-passenger-car-tire-market.html
-By Sales Channel
-By Tire Type
-By Tire Size
-By Price Category
-By Season
-By Region
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Egypt Passenger Car Tire Market Share Egypt Passenger Car Tire Market Trends Egypt Passenger Car Tire Market Growth
