Markntel Advisors’ report, Africa Tire Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Africa Tire presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Africa Tire Market Industry Research Report & Market Summary:
The Africa Tire Market is projected to grow at a CAGR of around 5.5% during the forecast period, i.e., 2023-28. The growth of the market would be fueled primarily by the rapidly increasing vehicle fleet across different countries in Africa, owing to the burgeoning interest of people in private ownership of vehicles.
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Africa Tire Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Medium and Heavy Commercial Vehicle (M&HCV)
- Two-Wheeler
- Three-Wheeler
- Off Road Tire (OTR)
- Amongst them all, passenger cars are projected to dominate the Africa Tire Market with the largest share during 2023-28. It attributes principally to improved living standards of people & their mounting inclination toward private vehicle ownership for their daily commute, i.e., portraying a rapid surge in the vehicle fleet and, consequently, tire production & sales. Besides, the growing adoption of second-hand cars, especially by the cost-sensitive & middle-class population across different regional countries, is also driving the tire industry for passenger cars in Africa.
By Demand Category
- OEMs
- Replacement
- Of two, the aftermarket is anticipated to dominate the Africa Tire Market with the largest share during 2023-28. It attributes principally to the growing number of vehicle owners & mounting awareness among them about the benefits of aftermarket tires, such as easy availability, extensive options, different budgets, etc. Besides, the increasing awareness among vehicle owners about the timely inspection of tire conditions, i.e., leading to frequent tire replacements, is another aspect propelling the sales of aftermarket tires, which, in turn, project a pool of profitable opportunities for the overall market growth through 2028
By Tire Type
- Radial
- Bias
By Sales Channel
- Direct Sales
- Online
- Multibrand Stores
By Rim Size
- Up to 12”
- 1” to 15”
- 1” to 18”
- 1” to 20”
- 1” to 22.5”
- 6” to 26”
- 1” to 35”
- 1” to 47”
- Above 47”
By Country
- Nigeria
- Algeria
- Egypt
- Morocco
- South Africa
- Ethiopia
- Sudan
- Eritrea
- Djibouti
- Tanzania
Amongst all countries across Africa, South Africa is anticipated to dominate the market with the largest share during 2023-28. The increasing trade agreements are aiding South Africa in establishing itself as an innovative tire production hub across Africa. Besides, APDP (Automotive Production & Development Program) launched by South Africa is another prominent aspect projected to expand its tire industry in the coming years.
As indicated in the latest market research report published by Markntel Advisors, “Africa Tire Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Africa Tire. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/africa-tire-market.html
Top Companies Operating in the Africa Tire Market:
- Bridgestone
- Goodyear
- Michelin
- Continental
- Hankook
- Kumho
- Toyo
- Triangle
- Zhongce Rubber
- Sumitomo.
Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Africa Tire Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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