African Tire Market Value to Go Beyond USD 8 Bn by 2022, Predicts TechSci Research in Its Study Available at MarketPublishers.com
09 Mar 2017 • by Natalie Aster
LONDON – Africa’s tire market is chiefly import driven, and hence the extending network of distributors and dealers is emerging as a crucial factor responsible for the hike in tire sales on a country level. Further, growing tire radialisation, surging demand for tires from China as well as the rapid growth of the used car marketplace are expected to stimulate the demand for tires in Africa during 2016 - 2022.
The African tire market value is projected to go beyond USD 8 billion by 2022. Replacement tires captured the biggest share in the continent’s tire market during the last several years, with the identical trend projected to continue in the years to come.
During the review period, the African tire market was led by passenger car tires, which captured more than 50% of the total market as of 2016. And the segment is likely to keep on taking lead in the marketplace to 2022. The LCV segment came the second, followed by the M&HCV, two-wheelers and OTR tire segments.
Algeria, South Africa, Egypt, Libya and Nigeria are the 5 most prominent tire markets in Africa, and these 5 nations cumulatively captured more than 70% of the total Africa tire market as of 2016.
Comprehensive research report “Africa Tire Market Forecast & Opportunities, 2012 - 2022” created by TechSci Research presents an all-encompassing, unprejudiced assessment of the market across the African countries.
The study provides an all-round analysis of the market size in terms of volume and value; market share based on the type of vehicles, radial versus bias, demand category, and by country; and provides forecasts for the aforementioned parameters. The report limelights the market developments and trends, uncovers emerging opportunities, canvasses drivers and restraints, explores the competitive scenario and profiles the 16 major players, and provides strategic recommendations.
More comprehensive research studies by our partner can be found at its page.