DUBLIN, Mar 03, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Africa Tire Market Forecast & Opportunities, 2012-2022" report to their offering.
The tire market in Africa is projected to surpass $8 billion by 2022. Replacement tires accounted for the majority share in Africa tire market over the past few years, and the same trend is anticipated to continue in the coming years as well. During 2012- 2016, Africa tire market was dominated by passenger car tire segment, which accounted for a market share of over 50% in 2016.
Tire market in Africa grew at a moderate pace over the past few years, owing to rising passenger car and commercial vehicles sales, coupled with expanding replacement tire market. Moreover, increasing purchasing power and GDP per capita across the major African economies were identified to be the other predominant factors boosting tire sales in the region during 2012-2016.
Africa tire market is majorly import driven, and consequently, expanding distributor and dealer network is emerging as a critical factor for boosting tire sales in a specific country. Furthermore, increasing tire radialization, growing demand for Chinese tires and proliferation of used car market are anticipated to drive demand for tires in Africa during 2012-2022.
LCV segment has emerged as the second largest tire segment over the last five years, followed by M&HCV, two wheelers and OTR tire segments. and the segment is projected to continue dominating the market through 2022. South Africa, Algeria, Egypt, Nigeria and Libya are the top 5 tire markets in Africa, and these 5 countries grabbed a cumulative market share of over 70% in Africa tire market in 2016.
Why You Should Buy This Report?
- To gain an in-depth understanding of tire market in Africa.
- To identify the on-going trends and segment wise anticipated growth in the coming years.
- To help industry consultants, tire companies and other stakeholders to align their market-centric strategies.
- To obtain research based business decision and add weight to presentations and marketing material.
- To gain competitive knowledge of leading players.
- To avail of 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs.
- Alliance Tire Company Ltd.
- Apollo Tyres Ltd.
- Balkrishna Industries Ltd.
- Bridgestone Middle East & Africa FZE
- CEAT Limited
- Goodyear Middle East FZE
- Hangzhou Zhongce Rubber Co., Ltd.
- Hankook Tire Co. Ltd.
- Horizon Addis Tyre S.C.
- MRF Limited
- Michelin AIM FZE
- Pirelli Tyre(Suisse) SA Middle East Branch
- Sameer Africa Ltd.
- Sumitomo Rubber Middle East FZE
- The Yokohama Rubber Co., Ltd.
- Triangle Tyre Co. Ltd.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. Africa Tire Market Outlook
5. South Africa Tire Market Outlook
6. Algeria Tire Market Outlook
7. Egypt Tire Market Outlook
8. Nigeria Tire Market Outlook
9. Libya Tire Market Outlook
10. Kenya Tire Market Outlook
11. Ethiopia Tire Market Outlook
12. Angola Tire Market Outlook
13. Zimbabwe Tire Market Outlook
14. Tanzania Tire Market Outlook
15. Sudan Tire Market Outlook
16. Eritrea Tire Market Outlook
17. Market Dynamics
18. Market Trends & Developments
19. Competitive Landscape
20. Strategic Recommendations
For more information about this report visit http://www.researchandmarkets.com/research/fxpjk6/africa_tire
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets